Strategic management of enterprise digitalization in the context of innovation management

Maksym Urbanskyi
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Maksym Urbanskyi: Higher Educational Institution «Academician Yuriy Bugay International Scientific and Technical University»

Economic Synergy, 2024, issue 4, 242-254

Abstract: The article explores conceptual and practical aspects of strategic management of enterprise digitalization in the context of innovation management, a topic of particular relevance in today’s rapidly advancing technological environment. Digitalization serves as a powerful tool for enhancing competitiveness, optimizing business processes, and creating new growth opportunities while simultaneously presenting new challenges for managers. The article examines how the implementation of digital technologies, including artificial intelligence, the Internet of Things (IoT), blockchain, big data, and cloud solutions, impacts innovation management and enables companies to maintain flexibility and adaptability in changing market conditions. The purpose of the article is to develop approaches for effective strategic management of enterprise digitalization processes, as well as to analyze the risks and barriers that arise during digital transformations. The strategic management models proposed by the author allow for the integration of digital technologies at all levels of management, considering customer needs, industry specifics, and the organization’s available resources. Special attention is given to risk management, including cybersecurity, data protection, and ensuring an adequate level of digital competence among employees. Based on an analysis of domestic and international experience in implementing digital strategies, the article formulates recommendations for building an adaptive management system that ensures long-term enterprise resilience and competitiveness. Adopting a strategic approach to digitalization enables companies to create conditions for innovative development, improve operational efficiency, and reduce risks associated with changes in the external environment. The findings may be useful for executives and specialists engaged in developing and implementing digital strategies aimed at ensuring the company’s long-term competitive advantages. The author emphasizes that future research in this area should include a detailed analysis of tools for assessing the effectiveness of digitalization and risk management, contributing to further improvement of strategic management in the context of digital transformation.

Keywords: strategic management; digitalization; innovation management; enterprise; competitiveness; digital technologies; adaptability; risks (search for similar items in EconPapers)
JEL-codes: L21 L23 M11 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bja:isteus:y:2024:i:4:p:242-254

DOI: 10.53920/ES-2024-4-18

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