Digital Transformation Peculiarities in Bulgaria

Krasimir Shishmanov ()
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Krasimir Shishmanov: D Tsenov Academy of Economics, Svishtov, Bulgaria

Chapter 36 in International Conference Globalization, Innovation and Development. Trends and Prospects (G.I.D.T.P.), 2020, vol. 10, pp 327-334 from Editura Lumen

Abstract: A characteristic feature of modern business is that it functions in a new digital reality. It is progressively and irrevocably, as it changes not only our lives, but also, in the first place, forces the business to adapt to the new conditions, to innovate, to transform their business strategies according to the requirements and specifics of the digital economy. The idea is not to destroy the traditional business but to develop, improve and become more competitive with the help of digitization. The digital economy opens up a great deal but requires a deep understanding of what it is, what its specifics and principles of functioning, its positive and negative sides, how to use the opportunities provided to enable it realize and have a positive effect on the digital transformation of the business. In addition to this, important questions such as: What are the main areas of digital transformation? How to build the business strategy of digital transformation? What are its tools and methods, what should be done in its individual stages? What are the main challenges and difficulties that need to be recognized and overcome? What knowledge and skills do the professionals have to be adaptable to the requirements of the digital economy? The use of new technologies and the transformation to the digital economy are associated with serious changes that force companies and sometimes industries to reconsider the value of their products and services to customers.

Keywords: digital transformation; digital economy; digitization; e-commerce (search for similar items in EconPapers)
JEL-codes: D8 F6 I2 O1 O3 (search for similar items in EconPapers)
Date: 2020
ISBN: 978-1-910129-23-4
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Persistent link: https://EconPapers.repec.org/RePEc:lum:prchap:10-36

DOI: 10.18662/lumproc/gidtp2018/36

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