scholarly journals THE TRANSFORMATION OF BUSINESS PROCESSES IN CONDITIONS OF DIGITALIZATION OF ECONOMIC SYSTEMS

2021 ◽  
Vol 3 (27) ◽  
pp. 14-21
Author(s):  
Tetiana Gorokhova
Keyword(s):  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Point Of View ◽  
Economic Effects ◽  
Economic Systems ◽  
Management Process ◽  
Business Transformation ◽  
Methods And Techniques

The article considers to the aspects of identifying key directions that determine the successful functioning of an organization in the context of the digital economy development. The key areas of business transformation have been identified, allowing flexible restructuring of the company management process. Methods and techniques for assessing digital transformation in organizations that are tested for both quantitative and qualitative indicators have been considered. It has been proven that considering digital transformation is advisable not only in the context of studying business models in the development of digital technologies, but also from the point of view of what economic effects are achieved through digital transformation and how justified it.

scholarly journals ESTIMATION OF BUSINESS VALUE AS AN ELEMENT OF FORMATION OF BUSINESS MODELS OF INDUSTRIAL ENTERPRISES AND AGRICULTURAL COMPLEX IN THE CONDITIONS OF DIGITALIZATION OF THE ECONOMY

2020 ◽  
Author(s):  
Maksym Odnorog ◽  
◽  
Mykhailo Pivtorak ◽  
Oksana Zagorodniuk ◽  
◽  
...  
Keyword(s):  
Best Practices ◽  
Business Models ◽  
Business Processes ◽  
New Technologies ◽  
Digital Technologies ◽  
Economic Security ◽  
Digital Transformation ◽  
Enterprise Management ◽  
Industrial Enterprises ◽  
Digital Management

To date, digital technologies and their widespread practice have formed the potential for completely new business models. However, most organizations are either in the early stages of the digital transformation process, or do not yet dare to form a digital business model that will provide real benefits from digital technologies. In any case, taking into account the enormous pace of global digitalization, it is extremely important to adapt the best practices of digital transformation to the improvement of the Ukrainian economy as soon as possible. Based on this, consider the process of researching new and adapting existing management models. Digital transformation – the introduction of modern technologies to radically change the business models of enterprise management today is considered the most important topic for organizations around the world. The requirements of the new digital economy represent the digital transformation as a conscious strategic process of business modification through adaptive management and implementation of digital technologies, ie the restructuring of existing business models. The same happens at industrial and agro-industrial enterprises, the analog period of which is coming to an end. Industries are entering the digital age, thanks to which enterprises are developing in accordance with the new focus. For this reason, it is very important for the formation of digital models of enterprise management to strategically understand the possibilities of digital technology development in their connection with business processes and business models. The analysis of the main traditional models of effective management of enterprises was carried out and their fundamental differences from the Ukrainian approach to management were revealed, the possibilities of implementation of the principles of existing business models by Ukrainian enterprises were considered. In addition, a roadmap for the transition from a traditional to a digital enterprise was proposed for consideration. The process of modeling the digital management system of the enterprise is revealed. Currently, a prerequisite for the prosperity of the economy of industry and agriculture and, consequently, the economy of Ukraine, is adaptive digital management as a basis for economic security of the enterprise. It was found that the relentless introduction of digital technologies, «copying best practices» can later be in reality as dangerous as the refusal to master new technologies. Therefore, choosing the direction of your own digitization, you must first study everything thoroughly, so as not to miss the moment and not to remain in the ranks of the latter or in the past.

scholarly journals Legacy Digital Transformation: TCO and ROI Analysis

2021 ◽  
Vol 12 (3) ◽  
pp. 163-170
Author(s):  
Ravi Kiran Mallidi ◽  
Manmohan Sharma ◽  
Jagjit Singh
Keyword(s):  
Return On Investment ◽  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Digital World ◽  
New Business ◽  
Core Elements ◽  
Business Needs ◽  
Security Organizations

Legacy Digital Transformation is modernizing or migrating systems from non-digital or older digital technology to newer digital technologies. Digitalization is essential for information reading, processing, transforming, and storing. Social media, Cloud, and analytics are the major technologies in today's digital world. Digitalization (business process) and Digital Transformation (the effect) are the core elements of newer global policies and processes. Recent COVID pandemic situation, Organizations are willing to digitalize their environment without losing business. Digital technologies help to improve their capabilities to transform processes that intern promote new business models. Applications cannot remain static and should modernize to meet the evolving business and technology needs. Business needs time to market, Agility, and reduce technical debt. Technology needs consist of APIs, better Security, Portability, Scalability, Cloud support, Deployment, Automation, and Integration. This paper elaborates different transformation/modernization approaches for Legacy systems written in very long or End of Life (EOL) systems to newer digital technologies to serve the business needs. EOL impacts application production, supportability, compliance, and security. Organizations spend money and resources on Digital Transformation for considering Investment versus Return on Investment, Agility of the System, and improved business processes. Migration and Modernization are critical for any Legacy Digital Transformation. Management takes decisions to proceed with Digital Transformation for considering Total Cost Ownership (TCO) and Return on Investment (ROI) of the program. The paper also includes a TCO-ROI calculator for Transformation from Legacy / Monolithic to new architectures like Microservices.

scholarly journals The effectiveness of human capital in the context of the digital transformation of the economy: The case of Ukraine

2021 ◽  
Vol 8 (2) ◽  
pp. 202-213
Author(s):  
Volodymyr Rodchenko ◽  
Ganna Rekun ◽  
Larysa Fedoryshyna ◽  
Ihor Roshchin ◽  
Svitlana Gazarian
Keyword(s):  
Human Capital ◽  
Empirical Model ◽  
Business Processes ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Business Transformation ◽  
Method Of Principal Components ◽  
Capital Efficiency ◽  
Integral Assessment

The purpose of this article is to empirically assess the qualitative parameters of the effectiveness of human capital for business digitalization in Ukraine. Using a survey of 500 business representatives in Ukraine and the Fibonacci rule, and taking into account the digital business transformation level, the qualitative levels of human capital efficiency have been classified. Also, using the method of principal components, the system of factors of human capital's effectiveness for the intensification of digitalization has been empirically substantiated. An empirical model for assessing the quantitative levels of human capital effectiveness in the context of digital business transformation has been developed using integral assessment. The potential for the development of business digitalization based on the factors' actual values has been determined. The results obtained can become the basis to improve the quality of human capital for the successful introduction of modern digital technologies into the country's business processes.

scholarly journals Leveraging Enterprise Architecture for Digital Transformation Adaptation Challenges in Higher Education Institutions

2021 ◽  
Vol 12 (3) ◽  
pp. 2041-2046
Author(s):  
Wan Faezah Abbas Et.al
Keyword(s):  
Higher Education ◽  
Literature Review ◽  
Enterprise Architecture ◽  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Organization Structure ◽  
Education Institution ◽  
Digital Transformation ◽  
New Era

The rapid proliferation and emergence of mobile, digital technologies, smartphone devices, big data, cloud computing and Internet of Things (IoT) have given rise to a new era of Digital Transformation (DT). DT is shifting not only technological advancements but also involves changes to business processes, organization structure, business models, managerial and culture. Higher Education Institution (HEI) are undergoing some forms of DT and is affected by these changes. Technology is changing the way many HEIs operate and to ensure survival, HEI needs to adapt to DT changes. However, HEIs are facing difficulties in adapting to DT. The main objective of this paper is to identify DT adaptation challenges in HEI based on literature review. Result from the literature review lists the HEI DT adaptation challenges and Enterprise Architecture(EA) is identified as a facilitator and enabler to support DT initiatives.

scholarly journals Evolution of traditional banks' business models

2021 ◽  
pp. 146-152
Author(s):  
Galina Panova
Keyword(s):  
Factor Analysis ◽  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Point Of View ◽  
Economic Science ◽  
Digital Platforms ◽  
Bank Business Models ◽  
Definition Of

The article considers topical issues of how banks are developing in the new realities of the digital economy, and presents the results of research on theoretical and practical aspects of banks' business models evolution. The methodology uses such approaches as scientific abstraction, system and factor analysis, methods of grouping, detailing, and synthesis. The topic is relevant for banks first of all from the economic science point of view, since until now the conceptual apparatus of not only the types of bank business models but also the definition of bank business models and their ecosystems remain controversial. However, in practice the applying of new strategic solutions is needed to solve the triune task: to ensure profitability of banks' business while maintaining liquidity and minimizing risks. The obtained results allowed us to reveal the important role of the banks' business models innovative transformation, as well as to reveal the tendency of improving the intermediary function of banks on the modern stage of digital technologies' development. The article substantiates the need to develop new approaches to administering business processes, expanding banking activities using digital platforms, and reveals the problem that requires the speediest solutions in developing regulation standards for financial ecosystems.

scholarly journals Modern imperatives of system-innovative approach to the solution of organizational and management tasks of digitalization of business processes

2020 ◽  
Vol 18 (4) ◽  
pp. 601-605
Author(s):  
Irina Somina ◽  
Yury Doroshenko ◽  
Olga Nikulina
Keyword(s):  
Large Scale ◽  
Business Processes ◽  
Systems Approach ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Optimal Combination ◽  
Innovative Approach ◽  
Economic Systems ◽  
World Community ◽  
The World

This article substantiates the feasibility of applying systematic, integrated, factorial and process approaches to solving relevant organizational and managerial tasks of digitalization aimed at improving the efficiency of innovation and the competitiveness of economic systems. Substantial foundations of the implementation of a systems approach in the field of digital transformation of business processes were revealed. The advantages of digitalization were presented, possible basic problems associated with its implementation were systematized, and factors that have a significant impact on their solutions were analyzed. It is obvious that the exciting new possibilities of digital technologies are open to the world community and the urgent need for their large-scale implementation manifested itself, but taking into account the optimal combination of various factors that have a significant impact on the development of socio-economic systems.

Integrated Predictive Experience Management Framework (IPEMF) for Improving Customers Experience

2022 ◽  
Vol 12 (1) ◽  
pp. 0-0
Keyword(s):  
Feedback Loop ◽  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Customer Experience ◽  
Digital Transformation ◽  
Management Framework ◽  
New Business ◽  
The Impact ◽  
New Business Models

Enterprises are adopting digital transformation with an exponential rate to drive growth through new business models and the use of digital technologies. Digital transformation is a business imperative rather than technology imperative. Hence, customer experience during and post-transformation is key to the success of the digital transformation. The present paper proposes an Integrated Predictive Experience Management Framework (IPEMF) for improving customer experience. IPEMF is- a structured and methodological business processes centric connected experience framework with the customer at the centre. The uniqueness of IPEMF is that it seamlessly integrates business processes, technology, organisation, and customer behaviour. It is agnostic of the business vertical or the geography. The framework puts forth an approach to predict the impact on customer experience proactively and provides a feedback loop to help continuously improve the experience. IPEMF helps enterprises build intuitive, trusted relationships and hyper-personalised customer experience through the customer journey.

scholarly journals DIGITAL TRANSFORMATIONS IN THE CONDITIONS OF INDUSTRY 4.0 DEVELOPMENT

2021 ◽  
Vol 3 (38) ◽  
pp. 420-426
Author(s):  
O. Savytska ◽  
V. Salabai
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Business Processes ◽  
Industrial Revolution ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Cloud Services ◽  
Gradual Transition ◽  
Business Entities ◽  
Definition Of

Abstract. The article considers and analyzes the importance and main scientific approaches to determining the essence of digital transformation in the conditions of Industry 4.0 development. The opinions of domestic and foreign scientists on the definition of the essence of this concept are presented and it is determined that digitalization has an important role in the activities of modern enterprises. The definition of «digitalization» is proposed, that means the process of transition to digital business, which is the use of digital technologies to change business processes in the company and provide new opportunities for additional income and development prospects of business entities. It is determined that digitalization is a very popular and necessary process of transition to new business models in the activities of companies. The essence of the category «Industry 4.0» is considered and the main technologies and tools that contribute to the gradual transition to digitalization are presented. It is noted that Industry 4.0 is part and a leading trend of the Fourth Industrial Revolution. It is investigated that the transition to Industry 4.0 using digital tools is quite a trend, as these key technologies such as IoT, Big Data, cloud services, artificial intelligence today play a key role in the process of digitalization of companies. The main recommendations for adapting the business to digital transformations are given. The key directions of the development of digital technologies of Industry 4.0 are considered and presented. The industries that need digital transformation and those areas of business that are actively implementing digital products in their activities are identified. It was also found that the use of digitalization processes allows companies to optimize existing business models, gain new opportunities for business development, expand the scope of activities, and have tools to increase their efficiency and competitiveness. Keywords: digital transformation, digitalization­, digital technologies, Industry 4.0. JEL Classification O39, O33 Formulas: 0; tabl.: 1; fig.: 2; bibl.: 16.

Emerging trends in digital transformation: a bibliometric analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Raghu Nandan Chawla ◽  
Praveen Goyal
Keyword(s):  
Bibliometric Analysis ◽  
Business Models ◽  
Digital Technologies ◽  
Citation Network ◽  
Digital Transformation ◽  
Intellectual Structure ◽  
Future Research ◽  
Strategic Decisions ◽  
Content Type ◽  
Research Areas

PurposeUbiquitous digital technologies are driving organisations to embrace non-traditional digitally transformed business models incessantly. Heterogeneous literature contributions have resulted in a spur in the research related to business transformation driven by digital technologies in recent years; consequently, the research under the digital transformation (DT), even though becoming a hotspot, remains very fragmented. The authors endeavour to holistically present the literature's intellectual structure under DT as a concept, its evolving journey and the emerging research streams in the business and management domains using the techniques of bibliometric analysis.Design/methodology/approachBy performing bibliometric analysis on 234 research articles published over the last 20 years in the DT domain, retrieved from Thompson Reuters Web of Science TM, this study culls out thorough insights from the citation, co-citation and keyword analysis. Further emerging research streams were evaluated using VOSviewer software.FindingsThe study depicts an overall incremental trend of year-on-year publications, authors' performance, publication journals, associated institutions and research driving countries, along with key insights from co-citation network analysis. Furthermore, the study evaluates four research areas – organisational impacts, applied applications and insights, operational processes and social aspects, comprising eighteen research streams that comprehensively cover-up research under the DT domain.Research limitations/implicationsThe study contributes to the literature of DT by amalgamating the status of the present research, but more importantly, by deriving the research areas and research streams, which can be further expanded by researchers as future research streams.Practical implicationsFor the practitioners, the study aims to act as a ready reckoner repository with practice-oriented literature references to facilitate them building knowledge and taking effective strategic decisions to harness the benefits of DT more proficiently.Originality/valueThis study illustrates the bibliometric structure of the DT literature and presents insights from the growth of the literature year-on-year.

scholarly journals E-Leadership: The Implication of Digital Transformation for Leadership in Organizations in Africa

2020 ◽  
Author(s):  
Fetnani Cecilia
Keyword(s):  
South African ◽  
Large Scale ◽  
Business Processes ◽  
Digital Technologies ◽  
Structuration Theory ◽  
Leadership Competencies ◽  
Digital Transformation ◽  
Scale Transformation ◽  
Network Systems ◽  
Case Study Methodology

The paper discusses electronic leadership (e-leadership) competencies that would ensure organizational competitiveness in the digital transformation of an organisation or a unit of an organisation. Like any other large-scale transformation of a business that has high failure rates, digital transformation can fail and it is failing in organisations in Africa; making them bankrupt requiring business rescue or taking them completely out of business. Digital transformation is considered as the process of using digital technologies (integrating cyber-physical systems (CPS) i.e., (intelligent network systems) and business processes) to create and improve production, sustain customer experiences; thus, the use of digital technologies to integrate business process, office automation, industrial process and factory automation to transform business. It is therefore argued that most African organizations are currently faced with the critical challenge of determining the pre- convergence and convergence of technologies, their alignment with strategy and their integration with business processes and systems to build digital business infrastructure for competitiveness. The concept of enactment of technology-in-practice derived from Adaptive Structuration Theory was used as a lens through which to understand and interpret the implications of the digital transformation on leadership competencies to derive e-leadership profile to lead African businesses in the digital age. As such the objective of this paper is to determine the competencies of e-leadership to lead digital transformation agenda of an organization in a highly and digitally competitive marketplace. It is a qualitative study, using an interpretative paradigm in a case study methodology where semi- structured interviews were used to collect data from each unit of analysis representing specific South African based businesses. The selected Cases in South African were extensively investigated. The enactment of e-leadership derived from AST is proposed to lead digital transformation. The implication is that the deployment of e-leadership in an organization has a potential to yield benefits such as the creation of higher organisational flexibility, empowerment of staff and strategic/competitive advantages for the organization. This paper proposes that having effective e-leaders in an organisation would lead to adequate appropriation of digital technologies to digitally transform an organisation.

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