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Strategic Vectors for Enterprise Development in the Context of the Digitalization of the Economy

Author

Listed:
  • Olha Kibik

    (National University "Odessa Law Academy")

  • Olena Taran-Lala

    (Poltava State Agrarian University)

  • Volodymyr Saienko

    (Academy of Management and Administration)

  • Tetiana Metil

    (Izmail State University of Humanities)

  • Tetiana Umanets

    (Izmail State University of Humanities)

  • Iryna Maksymchuk

    (Izmail State University of Humanities)

Abstract

In the realities of the digital economy there are fast and permanent processes of digitalization of economic relations and economic activity, technologies, information and knowledge in the field of business management are becoming increasingly important. Modern economic conditions in which enterprises operate are characterized by globality, dynamism and uncertainty. One of the main factors that can ensure the company's stability in the market and help strengthen its position is a well-founded development strategy. Depending on the direction of enterprise development, it is important to distinguish such strategies as intensification, integration and diversification, which can be applied individually or in combination. The need to adapt to the conditions of comprehensive digitalization requires enterprises to take an innovative approach to their activities, and the harmonization of the mechanism of strategic management of innovative development of the enterprise should consist of determining the vector of innovative transformations. Knowledge is very important in the innovation process, because it is not only an important contribution, but also the result of the process of transformation of innovation culture of enterprises. The use of modern methods of e-commerce, digital platforms and blockchain allows companies to gain new benefits and opportunities. Enterprises that choose as a strategic vector of development a systematic combination of innovative approach to their activities, analysis of internal and external resources of development, adequate adaptation to the external realities of the digital economy, achieve high results in the present and future.

Suggested Citation

  • Olha Kibik & Olena Taran-Lala & Volodymyr Saienko & Tetiana Metil & Tetiana Umanets & Iryna Maksymchuk, 2022. "Strategic Vectors for Enterprise Development in the Context of the Digitalization of the Economy," Postmodern Openings, Editura Lumen, Department of Economics, vol. 13(2), pages 384-395, January.
  • Handle: RePEc:lum:rev3rl:v:13:y:2022:i:2:p:384-395
    DOI: https://doi.org/10.18662/po/13.2/460
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    More about this item

    Keywords

    Innovations; directions of enterprise development; e-commerce; knowledge; intensification; diversification;
    All these keywords.

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I2 - Health, Education, and Welfare - - Education
    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General

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