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How To Add Value To Business By Employing Digital Technologies And Transforming Management Approaches

Author

Listed:
  • Natalia Altukhova

    (Finan. Univer. under the Government of the Rus. Federation)

  • Elena Vasileva

    (Finan. Univer. under the Government of the Rus. Federation)

  • Vitaliy Yemelyanov

    (Finan. Univer. under the Government of the Rus. Federation)

Abstract

The aim of this study is to present the experience in the management of enterprises at different levels: from optimising business processes to introducing strategic business development. We have analysed the experience in creating digital metallurgy in Russia and present the experience in implementing a smart system for monitoring and diagnostics of line equipment at the Alchevsk metallurgical plant. The article reviews major issues related to the introduction of artificial intelligence systems so as to exercise automated control over production processes. These issues refer to the deterioration and depreciation of production assets which is caused by the reallocation of funds for the modernisation of production and the unpreparedness of staff for the introduction of new systems. Digital technologies provide new opportunities for managing corporate resources and initiating profitable activities. The article also reviews applying Design Thinking techniques and tools to the training and education of specialists for the digital economy. Entrepreneurial skills, out-of-the-box thinking, the ability to work in teams and to make decisions are essential competencies which must be acquired by students during their academic training so that businesses could be prepared for their digital transformation.

Suggested Citation

  • Natalia Altukhova & Elena Vasileva & Vitaliy Yemelyanov, 2018. "How To Add Value To Business By Employing Digital Technologies And Transforming Management Approaches," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 71-84.
    • Handle: RePEc:dat:bmngmt:y:2018:i:1:p:71-84
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    File URL: http://hdl.handle.net/10610/3882
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    Citations

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    Cited by:

    1. André Hanelt & René Bohnsack & David Marz & Cláudia Antunes Marante, 2021. "A Systematic Review of the Literature on Digital Transformation: Insights and Implications for Strategy and Organizational Change," Journal of Management Studies, Wiley Blackwell, vol. 58(5), pages 1159-1197, July.
    2. Mohamed Mostafa Ali Albaz, 2019. "The Impact Of Technological Entrepreneurship On Achieving Human Development In The Egyptian Chemical Companies," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 2 Year 20, pages 46-64.

    More about this item

    Keywords

    project management; IT; design thinking; IT education; digital transformation; business process;
    All these keywords.

    JEL classification:

    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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