Strategic Management of Transformation of Online Trading Platforms: Problems and Solutions

Dmitry A. Shtoda () and Irina V. Musatova ()
Additional contact information
Dmitry A. Shtoda: Synergy University
Irina V. Musatova: Synergy University; Orel State University named after I. S. Turgenev

Journal of Modern Competition, 2023, vol. 17, issue 4, 64-79

Abstract: The article is devoted to the consideration of strategic management of digital transformation of online trading platforms, as well as the identification of the basic principles and challenges associated with this process. The article substantiates the importance of digital transformation for online trading platforms and makes judgments that this strategy becomes a necessity in the conditions of rapid development of digital technologies and changes in consumer behavior. Today, digital technologies are not only means of additional expansion of resources and tools available to the enterprise, but also produce a deep revision of the essence of the interaction that develops between organizations and their customers. As a result of the evolution of the Internet, mobile devices and social media, modern consumers have become more informed, mobile and demanding, where they insist on personalized services, prompt responses and a high level of convenience at every stage of making a purchase. In the conditions of modern metamorphoses, Internet trading platforms are forced not only to adapt to new conditions, but also to implement digital strategies with an active approach to maintain their competitiveness, which indicates that digital transformation is no longer only part of the innovation plan, but represents a vital strategic task to ensure the survival and sustainable growth of the enterprise. The author draws attention to the key principles of strategic management of digital transformation, such as the development of a digital strategy, ensuring the integration of technologies, the development of digital competencies of employees and the creation of an innovative culture. It is noted that Internet trading platforms face a number of challenges in implementing digital transformation, including changing business models, increased competition and data security. The article also offers recommendations on overcoming these challenges and the successful implementation of strategic management of digital transformation of online trading platforms at the present stage of their functioning.

Keywords: strategic management; change management; internet trading platform; digital transformation; competition; innovative solutions (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.moderncompetition.ru/jour/article/view/51 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:snr:mdrcmp:v:17:y:2023:i:4:p:64-79

Ordering information: This journal article can be ordered from
https://moderncompetition.ru

DOI: 10.37791/2687-0657-2023-17-4-64-79

Access Statistics for this article

Journal of Modern Competition is currently edited by Yury Rubin

More articles in Journal of Modern Competition from Synergy University
Bibliographic data for series maintained by Synergy University Maintainer ().