scholarly journals DIGITAL ECONOMY. THE CONVERSION OF THE TRADITIONAL ECONOMY AS A CONSEQUENCE OF THE ICT INNOVATIONS

2021 ◽  
Vol IV(1) ◽  
Author(s):  
Alexandra Ungureanu ◽  
Keyword(s):  
21St Century ◽  
Business Intelligence ◽  
Global Economy ◽  
Business Models ◽  
Leadership Skills ◽  
Business Environment ◽  
Digital Economy ◽  
Digital Transformation ◽  
Global Business ◽  
Traditional Economy

The ability of the global economy to compete and evolve in the 21st century increasingly depends on the innovative and efficient use of information and communication technologies (ICT). Over the last decade, digitalization has improved decision-making in the global business ecosystem in a variety of contexts, and recent advances in technology transformed the business models in a way that reshapes the economic actor’s interaction with business activities. The emergent conversion of the traditional economy is changing as automation tools, process standardization, and reuse of goods along with cloud computing technology shape the global economy towards digitalization, arising the concern to ensure the development of ICT proficiency in all sectors of the economy in order to create economic balance, avoiding a potential crisis based on the innovation deficit. The speed of digital transformation in the business environment will directly affect the models of economic growth and social development in the future. The present technological revolution is a valid indicator of the civilization progress of the 21st century and the digital transformation requires an improved association of organizational e-leadership skills, innovation, and business development based on business intelligence concepts. Therefore, the reduction of e-leadership skills can be a competitive disadvantage for the industry and a constraint on potential growth. From these considerations, the aim of the paper is to examine the diffusion of business intelligence elements in the global economy, providing examples of business models that have emerged as a result of digitalization improvement, and contributes to an overview of the main features of the digital economy that have emerged in these business models. Using a methodology based on the systematic review of the literature and global analysis regarding the topic, the paper presents a framework of the role that digitalization performs in the global economy transition from analog to digital configuration.

scholarly journals Digital Transformation of Business Analytical Processes

2021 ◽  
Vol 8 (2) ◽  
pp. 62-70
Author(s):  
O. E. Mikhnenko
Keyword(s):  
Big Data ◽  
Business Intelligence ◽  
Business Processes ◽  
Digital Technologies ◽  
Business Environment ◽  
Digital Economy ◽  
Digital Transformation ◽  
Management Decision ◽  
Control Apparatus

Current development and management of economic activity is largely associated with the implementation of the concept of the digital economy, which poses new challenges for business intelligence. The set of tasks is formed in order to develop business intelligence so that it matches the improved management of economic subjects, and to ensure the quality of business processes when digital technologies are introduced. Improved management based on the concept of the business environment implies that monitoring principles are used to analyze the behavior of external business environment participants with the purpose to build a rational partnership relationship. The digital economy creates information opportunities in this area, as it provides the access to Big Data and their processing using Big data analytics technologies. With regard to the requirements of management, the article analyzes the behavior of elements of the internal business environment to develop a management solution to improve the effectiveness of their behavior. The high quality of the solution is provided by the information model being a highly adequate image of a particular object under control and the ability of the control apparatus to fully realize the volume of its inherent functions. Under these conditions, the digital transformation of analytical processes is based on its own information platform, which should use breakthrough digital technologies. The research uses such methods as systemic analysis to generalize the modern concepts of economic system management, development of digital technologies and their introduction into management decision-making processes.

scholarly journals IMPERATIVES OF THE DIGITAL ECONOMY DEVELOPMENT IN UKRAINE

2021 ◽  
Vol 06 (04(01)) ◽  
pp. 39-46
Author(s):  
Tetiana Halimon Tetiana Halimon
Keyword(s):  
Economic Development ◽  
Information And Communication Technologies ◽  
Business Models ◽  
Digital Technologies ◽  
Communication Technologies ◽  
Business Environment ◽  
Digital Economy ◽  
The World ◽  
Information And Communication ◽  
Traditional Economy

The priority vector of development of many countries of the world is digital transformation and creation of a hypercompetitive digital economy. The key trend of modern global economic development in all countries of the world is the rapid spread of information and communication, digital technologies and the development of the digital economy, which causes changes in the business environment, transaction methods and the level of connections between individual entities. The digital economy is an innovative dynamic economy based on the active introduction of innovations and information and communication technologies in all types of economic activities and spheres of society, which increases the efficiency and competitiveness of individual companies, the national economy and living standards. In the third wave of globalization, the digital economy plays an important role in the development of countries, the most important factor of which is information and knowledge, as well as ways to access them. Increasingly, the digital economy is intertwined with the traditional economy, making clear demarcations increasingly difficult. The main products of the digital economy are the same goods and services of the traditional economy provided by computer equipment and digital systems such as the global Internet. However, the rapid development of digitalization is becoming a source not only of new opportunities, but also of serious threats and problems for all segments of the population that need to be taken into account. That is, the digitalization of the economy and all spheres of public life, on the one hand, becomes a challenge and threat to established business models and successful strategies of behavior of enterprises in a market economy, on the other - opens new opportunities for improvement and competitive advantage. Digitalization has significant benefits for economic development. Benefits at the level of the whole society include: economic and social effect of digital technologies for business and society; improving the quality of life; increasing the productivity of all social labor; the emergence of new models and forms of business that can increase profitability and competitiveness; increasing the transparency of economic transactions and ensuring the possibility of their monitoring. Key words: digital economy, innovative activity, innovative development, competitiveness, scientific and technological progress, information and communication technologies, information society.

scholarly journals Business analysis as a basis of development of the digital economy

2018 ◽  
pp. 35-39
Author(s):  
S. Koliadenko ◽  
I. Ushkalenko
Keyword(s):  
Business Intelligence ◽  
Global Economy ◽  
Business Processes ◽  
Business Environment ◽  
Digital Economy ◽  
Modern World ◽  
Highly Qualified ◽  
Source Information ◽  
Qualified Personnel ◽  
Business Analysis

It has been established that in the modern world it is impossible to imagine the development of the economy of individual countries, industries, companies, enterprises without using the results of business analysis and their rapid implementation in real projects. Using analytical calculations is becoming increasingly necessary both in a conventional classical economy and the one that comes to replace it - digital, with special attention being paid to business - the driving force of the economy of the whole society. It has been proven that one of the advantages of the digital economy is the ease and availability of obtaining information for conducting its own research, which in turn is also a significant drawback: it becomes more and more problematic to process large amounts of source information with each subsequent period. Based on the company's business intelligence model cited by the author, it can be seen that providing information and the need for it has a multidirectional focus: top managers and information managers are involved in developing a business strategy, its formation, implementation of business processes, ETL developers, database experts. data — by collecting data, turning it into an accessible and usable form; IT professionals — building data sources and IT infrastructure, then the analyst’s task is to directly analyze In general, as a result, information and knowledge are created that unites a business-oriented and technical-oriented environment. The digitization of the economy involves the use of business methods in business intelligence - computer methods and tools (they are used by organizations to translate business transactional information into a form that people could read, while it was used by business analysis), as well as tools to work with arrays of processed information. The introduction of all these activities in the business environment requires appropriate staffing with a special level of knowledge, with a high level of "creativity", analytical thinking and the like. Entering the era of the global economy, interna-tional business receives problems inherent in all its spheres, but first of all, it concerns the training of highly qualified personnel, which in many industries are sorely lacking, and in some not at all. Consequently, in today's economic realities, we are witnessing the transition of the classical economy to a new kind - digital, the main manifestations of which are informatization, globalization, the use of IT technologies, and the like. This leads to the fact that the analysis of economic and business processes using the achievements of modern knowledge will allow both improving the efficiency of business processes and bringing the economy to a qualitatively new scientific level; It is worth noting that the preparation of highly qualified personnel for business analysis is one of the priorities of modern higher scientific institutions, and industry institutions. Keywords: business analysis, business technology, digital economy, implementation of a business project, training.

ANALYSIS OF THE STRUCTURAL DYNAMICS OF THE DIGITAL ECONOMY IN TODAY'S REALITIES

2021 ◽  
Vol 14 (1) ◽  
pp. 40-47
Author(s):  
Tatуana Ivanovna LOMACHENKO ◽  
Keyword(s):  
Structural Dynamics ◽  
Digital Technology ◽  
Business Strategy ◽  
Production Management ◽  
Production Efficiency ◽  
Business Processes ◽  
Business Environment ◽  
Digital Economy ◽  
Digital Transformation ◽  
Evolutionary Stage

Nowadays, there is no consensus that digitalization is a threat to business security or an opportunity to comprehensively manage the entire chain of business processes in real time, taking into account incoming data from all assets. However, political and economic instability, demand volatility, and competition are all a set of global challenges that digital transformation has responded to. In industry, the competitive advantage has become not the ownership of the enterprise, the firm, but access to digital technology, on which the efficiency of work with specific resources depends. The processes of forming individual business segments related to production management based on modern digital technology have already been launched and most companies are focused on this direction. The article reveals the features of the evolutionary stage of digital economy development, presents the relationship of this process with the formation of the conceptual framework from the theoretical foundations, substantiated in the 1990s by foreign and domestic scientists to modern approaches in the interpretation of digital economy definitions. The article proposes the structural dynamics of the digital economy in today's realities, revealing internal problems, opportunities for economic growth, maturity and readiness of the state to new ways of doing business in the digital economy and digital transformation, to form the country's national strategy. In addition, the conditions under which digital transformation opens up new opportunities for the business environment, the public sector and society as a whole are presented. Changes in business strategy, organizational forms, business process capabilities, new approaches in working with clients, competitive advantages, increase in profit sources are analyzed. As a result, the efficiency of the whole system increases, which allows to reach a fundamentally new level of production efficiency in a short time.

The impact of financial and technological mergers and acquisitions on the world digital economy

2021 ◽  
Vol 14 (2) ◽  
pp. 174-189
Author(s):  
Natal'ya A. KHUTOROVA ◽  
Nikolai A. ROGASHKOV
Keyword(s):  
Global Economy ◽  
Banking Sector ◽  
Digital Economy ◽  
Digital Transformation ◽  
Payment Systems ◽  
Digital Inequality ◽  
Social Risks ◽  
High Volatility ◽  
Percent Contribution ◽  
The Impact

Subject. The COVID-19 pandemic brought IT companies to the leadership positions in terms of many aspects, as they contribute to a new reality and the development of digital economy. It also catalyzed the emergence of large ecosystems among financial institutions and technological giants. The M&A market mainly starts to shape global processes of the global economy digitalization, urging to scientifically comprehend the processes. Objectives. We conduct the critical analysis of the way the M&A market influences the digitalization of the global economy. Methods. Studying the M&A in the Fintech and Techfin segments, we applied methods of analysis, comparison and systematization of the information. Results. We revealed key trends in digital M&A deals, describe the impact and development of such processes in the Russian practice. Conclusions and Relevance. Every year M&A deals in the financial sectors and among IT corporations generates and raises over USD 250 billion in investment, thus making almost a 20-percent contribution to a growth in the digital economy. We found some understudies risks arising from digital M&A deals, such as deal planning risks synergy assessment risks, high volatility risks associated with prices for new companies, compliance risks, digital inequality risk and new social risks. Considering the Russian specifics and predominant positions of the banking sector, the digital transformation in Russia is noted to take place through the FinTech sector gaining momentum. To accelerate the digital constituent, it is reasonable to take the following efforts: introducing the digital Ruble as announced by the Bank of Russia, outlining a programs for supporting and encouraging national IT companies to develop non-banking payment systems and accelerate the digital transformation, connecting not only credit institutions, but also digital developers to the quick payment system of the Bank of Russia.

scholarly journals Judaism and Jewish Business Practices

2018 ◽  
Vol 9 (4) ◽  
pp. 73
Author(s):  
Samuel L. Dunn ◽  
Joshua D. Jensen
Keyword(s):  
21St Century ◽  
Business Environment ◽  
Business Practices ◽  
Business Professionals ◽  
Global Business ◽  
Jewish Culture ◽  
Multiple Cultures ◽  
Basic Understanding ◽  
History Of ◽  
Business Professional

Today’s global business environment is extremely diverse. With the business tools and resources that are available today, organizations of any size can create a global footprint easier than ever before. Today’s business professionals must be educated and trained in how to effectively interact with multiple cultures in order to successfully navigate the global business environment. Knowledge, acceptance, and appreciation of various cultures along with a fervent understanding of business practices in various cultures is required of the 21st century global business professional. This paper focuses on Jewish culture and how it manifests itself through Jewish business practices. The purpose of this paper is to give the reader a basic understanding of the principal branches of Judaism, a history of Judaism, an explanation of Jewish beliefs, and an introduction to Jewish business practices in hopes that further study will be elicited.

scholarly journals Social Challenges of the Digital Economy: Russia in a Global Context

2021 ◽  
Vol 65 (9) ◽  
pp. 14-24
Author(s):  
E. Sadovaya
Keyword(s):  
Global Economy ◽  
Technological Development ◽  
High Growth ◽  
World Order ◽  
Digital Economy ◽  
Digital Transformation ◽  
Growth Potential ◽  
Raw Material ◽  
Soviet Period ◽  
Labor Resources

The subject of the research is the challenges of the digital economy for the employment sector in Russia. The need to reduce costs in the face of a deteriorating situation in the global economy is a factor in accelerating the digital transformation of employment in the country. The transformation is carried out through the automation of the main business processes, as well as through the development of platform employment formats. Specific features of the process of digital transformation of employment form the shape of the development of the Russian labor market in the post- Soviet period. Its main factor was the country’s entry into the global system of division of labor, which led to the formation of the modern structure of employment. The economy of Russia, recognized as raw material, turned out to be “commercial” in terms of employment, since it was this industry that created the bulk of jobs during that period. The commerce sector, which had high growth potential in the early 1990s in Russia, provided jobs for all those labor resources that were released from the industry. However, at the moment this source has been exhausted. Digitalization threatens the most labor-intensive sectors of the Russian economy. Commerce turns out to be the first industry to undergo automation and digitalization of jobs. At the same time, the most massive professions (accountants, bank employees, HR specialists, salesmen, cashiers, couriers, security guards, secretaries, packers, call center workers, drivers) are under the threat of “disappearance”, while new ones in demand by the market are more likely “unique” and they are mostly associated with robotization, digitalization and biotechnology. The unmet demand for these professions is a reflection of the complexities of training highly qualified interdisciplinary specialists and not a physical shortage of labor resources, and this is a serious challenge for the vocational education system. The study aims to gain a deeper understanding of the processes taking place in the social and labor sphere in Russia, to create a conceptual basis for the development of a socio-economic policy of the state that adequately responds to the challenges of the digitalization of the economy. Acknowledgements. The article was prepared within the project “Post-crisis world order: challenges and technologies, competition and cooperation” supported by the grant from Ministry of Science and Higher Education of the Russian Federation program for research projects in priority areas of scientific and technological development (Agreement № 075-15-2020-783).

Advancing Women in the Digital Economy

2011 ◽  
pp. 298-310
Author(s):  
Patrice Braun
Keyword(s):  
Work Environment ◽  
Emerging Economies ◽  
Small Businesses ◽  
Global Economy ◽  
New Economy ◽  
Business Environment ◽  
Digital Economy ◽  
Evidence Based ◽  
Learning Models ◽  
Business Courses

In view of the fact that women are playing an increasingly important role in the global economy, this chapter examines business skilling in the digital economy for women in general and women-led small businesses in Australia, in particular. With employability and entrepreneurial capacity of women increasing, so too is their need for a comprehensive skill set is increasing. It is proposed that business courses currently offered do not necessarily consider their target audience or include new economy considerations. This chapter discusses the need for meta-competencies that will allow women in both developed and emerging economies to operate more effectively in a changing work environment and an increasingly digital business environment. For meta-competency efficacy, it is further proposed that evidence-based learning models, gender-sensitive approaches to business learning, and collaborative uses of technology underpin content and (e-)business learning designs.

scholarly journals Transformation of Manager Competences in Conditions of Digital Economy

2021 ◽  
Vol 18 (2) ◽  
pp. 142-151
Author(s):  
Yu. V. Syaglova ◽  
T. P. Maslevich
Keyword(s):  
Decision Making ◽  
Business Models ◽  
Business Processes ◽  
Business Environment ◽  
Complex Model ◽  
Process Approach ◽  
Digital Transformation ◽  
Managerial Decision ◽  
Commercial Activity ◽  
Digital Platforms

Today digital economic environment penetrates deeply in different spheres and industries of economy. Now doubt that digital transformations deal not only with outer environment of company functioning but also with their internal business-processes. The outer elements of digital transformation include such business-spaces, which in their essence were born as global, i. e. they are not connected with geographical location or specific segment of buying audience. We mean the development of the so-called digital platforms – ecosystems of digital business, where participants of different profiles or lines of commercial activity can be present, such as logistics, production, finance, marketing, sales, etc. Due to active emergence of outer aspects of digital transformation internal businessprocesses in such digital spaces are also subjected to transformations. These transformations in some cases are inevitable because of rising competition among companies inside one industry on the level of product range being sold and among related industries on the level of services that determine the company value for customers. In the digital business environment classical process approach undergoes serious changes due to transformation of business-models of business running, altered information opportunities, emergence of new digital competences of experts and technological breakthrough. The goal of the research is to develop a competence model of manager for decision-making in conditions of digital environment with regard to factors influencing the process of decisionmaking and advanced methodologies of management, such as Agile. The article shows conditions of digital transformation penetration in the business environment of present day companies, identifies factors of digital transformation impact on decision-making in management within the frames of the process approach, substantiates opportunities and threats of business-process digitalization in managerial decision-making and demonstrates new competences necessary for efficient functioning of business-processes. The authors put forward a complex model of decision-making in digital business environment, which gives an opportunity for companies to make the most effective managerial decisions.

scholarly journals The analysis of the digital transformation trends in the Ukrainian economy

VUZF Review ◽  
2021 ◽  
Vol 6 (4) ◽  
pp. 136-144
Author(s):  
Hanna Snopenko ◽  
Olga Balueva ◽  
Olena Tanchyk
Keyword(s):  
Development Strategy ◽  
Business Models ◽  
Business Processes ◽  
Industrial Revolution ◽  
Digital Economy ◽  
Digital Transformation ◽  
New Production ◽  
Fourth Industrial Revolution ◽  
Digital World ◽  
The World

The consistent evolution of technology around the world creates new production tools and opportunities for different economic agents. As a result, new economic structures are emerging as a result of industrial revolutions. Today, the digital economy is seen as the backbone of the fourth industrial revolution, as there is a clear shift in the underlying technology and signs of a technological and economic paradigm shift. The current stage of the industrial revolution is associated with the Internet communication technologies development, which has significantly changed the technology of business processes and has been called "digitalisation". Thus, the fourth industrial revolution and the third wave of globalisation are based on the digital economy. The article explores trends in the development of the Ukrainian economy under the influence of ubiquitous digitalisation. Digital transformation changes traditional business models of organisations, allowing them to occupy profitable niches in global markets, raising the prestige of business and the state as a whole. In today's environment, the level of digitalisation illustrates the degree of companies' competitiveness and is a determining factor in development strategy. To analyse the processes of digitalisation and determine the place of Ukraine in the digital world, the article identifies and describes four zones of digital transformation, which are particular to the world economies. It is determined that Ukraine has fallen into a zone of prospective economies, where digital infrastructure is limited. Still, digital development is accelerating, indicating the potential for digitalisation to flourish, which will benefit economic recovery from the COVID-19 pandemic and long-term transformation. Ukraine's integral digital transformation index score is placed at 2.81 out of a possible 5 in 2021. It was determined that the main barriers to the digital transformation development in Ukrainian business include ineffective legislation, insufficient funding and low digital literacy of the population. However, the highest score among the index components was given to companies' overall level of digital transformation. A positive result of the survey is confirmation of increased investment in the digital technologies development in Ukraine: priority investments in this area include customer interaction, data analytics and HR management.

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