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Information Openness as a Factor of Business Leadership in Today’s Digital Environment

In: Leadership, Entrepreneurship and Sustainable Development Post COVID-19

Author

Listed:
  • Serhii Lyeonov

    (Sumy State University
    Silesian University of Technology
    The London Academy of Science and Business)

  • Oleksii Zakharkin

    (Sumy State University)

  • Yevhenii Okhrimchuk

    (Sumy State University)

Abstract

The study aims to determine the role of information openness in ensuring business leadership in the digital business environment. Based on the analysis of European and Ukrainian statistics on information openness of business, the main advantages of entrepreneurship from such transparency, and the obstacles that arise are identified. The data was generated from EU Open Data Portal, Corporate Governance Professional Association (CGPA), CSR Ukraine, and Center for International Private Enterprise (CIPE) for EU countries and Ukraine for 2019–2021. The findings allowed identification that today’s business is informationally open mainly due to the state policy of introducing transparent online services and procedures to ensure practical cooperation between the state and firm. However, the rating of information openness of the company itself shows that it remains low. The results of a comparative analysis of the level of transparency of large business enterprises in Europe and Ukraine demonstrate the need to ensure the practices of their transparency and openness to increase success in the context of digitization processes. The study showed that companies that implement the principles of transparency in business strategy improve their reputation, increase the loyalty of partners and consumers, and increase investment attractiveness.

Suggested Citation

  • Serhii Lyeonov & Oleksii Zakharkin & Yevhenii Okhrimchuk, 2023. "Information Openness as a Factor of Business Leadership in Today’s Digital Environment," Springer Proceedings in Business and Economics, in: Wadim Strielkowski (ed.), Leadership, Entrepreneurship and Sustainable Development Post COVID-19, chapter 0, pages 287-300, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-28131-0_20
    DOI: 10.1007/978-3-031-28131-0_20
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    More about this item

    Keywords

    Information openness; Digitalization and transparency; Business leadership; Digital environment;
    All these keywords.

    JEL classification:

    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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