DIGITAL TRANSFORMATION AS A FACTOR IN ENSURING ECONOMIC SECURITY OF ENTERPRISES

Oleksand Kukhar (), Yurii Kravchyk () and Oleksandr Brechko ()
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Oleksand Kukhar: State Biotechnological University, Ukraine
Yurii Kravchyk: Khmelnytskyi National University, Ukraine
Oleksandr Brechko: West Ukrainian National University, Ukraine

Baltic Journal of Economic Studies, 2023, vol. 9, issue 5

Abstract: The subject of the research is the study of digital transformation as one of the factors of ensuring the economic security of enterprises. Methodology. The study uses general scientific methods, in particular theoretical generalisation, analysis and synthesis, statistical analysis and graphical methods for the visual presentation of research results. The aim is to analyse the role of digital transformation in ensuring the economic security of companies. Conclusion. Summing up the results, it is determined that the security of enterprises is a crucial element for their successful functioning and stability in the market. The impact of digitalisation on the economic security of enterprise is manifested through the positive impact of advanced digital technologies. Taking advantage of the digital economy leads to numerous positive aspects in business and contributes to achieving strategic goals and strengthening economic security. A conceptual model of the economic security of enterprises has been developed, in which digital transformation is a key tool, covering various aspects, including the conceptual apparatus, objectives, problem vision, subjects and objects of management. The model is aimed at creating conditions for sustainable development and maintaining the economic security of the enterprise at various stages of its life cycle. The programme for ensuring economic security within the framework of this model includes the stages of defining tasks, developing a scenario, implementing and evaluating efficiency. The mechanism of economic security is considered as a system of resources and interactions, with digital transformation as a central tool. Summarising the model and approach, the key aspects of ensuring the economic security of enterprises are revealed, taking into account the challenges and opportunities of the modern business environment. Digital technologies make it possible to increase the level of economic security, which in turn contributes to increasing the efficiency and competitiveness of individual companies, the economy as a whole and the standard of living of the population.

Keywords: digital transformation; digitalisation; digital economy; economic security of enterprises (search for similar items in EconPapers)
JEL-codes: B49 D83 F52 L86 (search for similar items in EconPapers)
Date: 2023
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bal:journl:2256-0742:2023:9:5:17

DOI: 10.30525/2256-0742/2023-9-5-143-152

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