Current Trends of Digitalization of the Economy: Problems and Prospects of Development

Havrylenko, Nataliia; Tarasenko, Iryna

doi:10.25313/2520-2294-2021-3-7046

Cited by 4 publications

(2 citation statements)

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“…Така зміна парадигми зумовлена безперервним розвитком технологій, розповсюдженням даних та зміною очікування споживачів і стейкхолдерів. В основі цієї трансформації перебуває інституціоналізація цифрових процесів і стратегій, яка стала обов'язковою умовою для розвитку бізнесу в умовах сьогодення, що характеризується великою мінливістю та нестабільністю [2].…”

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“…Такі цифрові платформи пропонують незрівняну зручність, вибір та ефективність, часто за нижчими цінами порівняно з традиційними бізнесмоделями. У результаті традиційні бізнес-моделі вимушені пристосовуватися до них або ризикують утратити свою актуальність, що призводить до цілої хвилі цифрових підривів у різних галузях промисловості [1][2].…”

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Impact of Digital Economy on Business Models and Financial Management: Institutionalization of Digital Transformations

Chubuk

2024

EMB

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The digital economy has truly revolutionized traditional business models and financial management practices, driving the institutionalization of digital transformations across various sectors. This article examines the impact of digitization on business models and financial management, considering the underlying mechanisms and consequences. The relevance of this topic lies in the comprehensive influence of digital technologies on contemporary business trends. Businesses increasingly leverage digital platforms, data analytics, and automation, making an understanding of digital transformation essential for both practitioners and researchers. Moreover, the COVID-19 pandemic has accelerated the adoption of digital tools, further emphasizing the importance of studying their impact on business practices. A comprehensive analysis of scholarly literature and empirical research results has led to several key conclusions. Firstly, digitization alters business models, providing greater adaptability, customization, and scalability. Organizations utilize digital platforms to enter new markets, personalize offerings, and optimize operations. Secondly, digital technologies significantly impact financial management practices, enhancing real-time data analysis, risk assessment, and decision-making processes. Automated financial systems optimize resource allocation, mitigate risks, and improve financial performance. The research results indicate that the institutionalization of digital transformations is a multi-faceted process influenced by organizational culture, leadership, and external factors. Successful integration of digital technologies requires strategic alignment, organizational resilience, and continuous innovation. Digitization presents both opportunities and challenges for businesses, necessitating adaptive strategies and proactive management approaches. Future research prospects lie in studying specific industries and organizational processes to explore the impact of digitization on business models and financial management in various aspects.

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Impact of Digital Economy on Business Models and Financial Management: Institutionalization of Digital Transformations

Chubuk

2024

EMB

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Modern branding in the digital economy

Ostapenko,

Sozynova,

Kovpik

2023

UJAET

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The article analyzes the impact of the dominant trends of qualitative changes in the modern economy on fringe formation. The trends of digitalization and personalization of nanoeconomy subjects are considered as such trends. Aspects of the digital economy and informatization are studied. Digital branding helps to establish a meaningful connection with the target audience, using a unique offer to highlight the brand and its distinctive competitive advantages. Innovations that increase the intensity of information flows shape and promote a digital brand. It has been established that modern branding is influenced by the relations born within the nanoeconomy. For example, a brand is an institution that depends on nano-actors, including owners, producers, and consumers. The institution of property implies that a person with savings can invest in a business that can develop its brand. A brand is subjective and reflects an individual approach to a product (good or service). The owner initiates the brand and becomes a reference from this owner to various consumers and business customers. The manufacturer is responsible for producing a particular product when the production conditions dictate the quality of the product or service, and the brand image is formed. The latest digital technologies affect economic processes, including the efficiency and stability of business processes. Digital technologies can improve the efficiency of targeting marketing strategies and increase the compliance of goods with consumer expectations. At the same time, it has been shown (proved) that the increase in the efficiency of economic processes under the influence of consumer activation is explained by the titles of the modern science of nanoeconomics. Nanoeconomic systems differ in peacetime and during military operations. Since Ukraine is going through difficult military times with aggression from Russia, it is necessary to consider the specifics of nanoeconomic development in these conditions and the post-war period. It is determined that the mental construction of a modern brand should include, in addition to product characteristics, elements of both digitalization and aspects of the behavior of individual economic agents, as opposed to the traditional neoclassical paradigm. Keywords: brand, trademark, nanoeconomy, digital communications, branding, brand management.

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Digital economy and cybersecurity: analysis of threats and defense strategies in the context of institutionalization

VDOVICHEN,

VDOVICHENA,

KRYMSKA

2024

Econ. Fin. Law

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Introduction. This paper explores the relationship between the digital economy and cybersecurity, discussing threats to these domains and necessary defense strategies in the context of increasing institutionalization of activities on the Internet. It also emphasizes the importance of this issue in an interconnected world where transactions and communications predominantly occur on digital platforms, becoming increasingly international. The purpose of the paper is to provide an in-depth analysis of various threats to the digital economy, such as cyberattacks, data theft, and online fraud, as well as to study protection strategies employed by institutional and private entities. Results. The research findings indicate a significant diversity and growing complexity of attacks on digital infrastructure, especially with the emergence of new methods such as phishing, ransomware, and distributed denial-of-service (DDoS) attacks. The study also identifies major gaps in existing defense systems, particularly in user awareness, network security, and vulnerability management. Based on the analysis conducted, several important points have been noted, emphasizing the critical importance of a comprehensive approach to cybersecurity, which entails close cooperation between the government, businesses, international organizations, and civil society. Additionally, there is an emphasis on the need for continuous investment in research and development of innovative security technologies, as well as in training and increasing awareness among end-users. Conclusions. Overall, the threats to the digital economy are complex challenges that are constantly evolving and require a proactive and coordinated approach from governments, businesses, and individuals. By working together to enhance the security and resilience of digital systems, we can better protect the digital economy and preserve trust in the online environment. Ultimately, cybersecurity threats pose a serious challenge to the digital economy and the institutional sector. By taking proactive security measures such as implementing robust security policies, training personnel, and utilizing state-of-the-art technologies, financial institutions can mitigate risks associated with cyber threats and safeguard the security and confidentiality of their clients' data.

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Current Trends of Digitalization of the Economy: Problems and Prospects of Development

Cited by 4 publications

References 0 publications

Impact of Digital Economy on Business Models and Financial Management: Institutionalization of Digital Transformations

Impact of Digital Economy on Business Models and Financial Management: Institutionalization of Digital Transformations

Modern branding in the digital economy

Digital economy and cybersecurity: analysis of threats and defense strategies in the context of institutionalization

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