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

Olha Kibik (), Olena Taran-Lala (), Volodymyr Saienko (), Tetiana Metil (), Tetiana Umanets () and Iryna Maksymchuk ()
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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

Postmodern Openings, 2022, vol. 13, issue 2, 384-395

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.

Keywords: Innovations; directions of enterprise development; e-commerce; knowledge; intensification; diversification (search for similar items in EconPapers)
JEL-codes: I12 I2 O0 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:lum:rev3rl:v:13:y:2022:i:2:p:384-395

DOI: 10.18662/po/13.2/460

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