Priorities and risks of digital transformation in forming the needs of management of modern ecosystems

Abstract

The current state, problems, and prospects of modern enterprise’s digital competencies are under intense scrutiny. The current stage of digitalization development is characterized by the urgent need for enterprises to respond to the existing competitive advantages and risks. The discrepancy between their response and the effectiveness of their activities is a pressing issue. Based on the process approach and the digital paradigm of management, a set of measures for optimal management with the help of services that ensure the speed of digital business processes, reliability, and data security has been proposed. Today, businesses face numerous risks, most of which have not been predicted to do business. These threats are caused first by the pandemic, then by the war, which, on the one hand, provoked the dynamics of the growth of various digital technologies, the introduction of new business models, and, on the other hand, dependence on the array of digital data with their communication properties, the growing threat of cyberattacks. The urgency of this topic lies in the fact that every organization, regardless of size or industry, faces these challenges. Hence, they must understand the possible risks and develop effective strategies to overcome them. The article discusses the key risks and problems enterprises face in implementing digital technologies. The work aims to offer practical recommendations to enterprises that choose a digital future and help them avoid possible risks and effectively overcome obstacles to digitalizing their activities. The research issues are exacerbated by many rapidly evolving digital technologies and a changing business environment. Organizations are compelled to adapt to new conditions. Digitalization offers solutions to key challenges such as funding, staff competencies, project quality diagnosis, and strategy adjustment. The importance of digital knowledge is pivotal for the restoration and sustainable development in the context of the information society. Its formation is a direct result of the adaptation of economic processes and the mission of the enterprise for the socio-economic development of Ukraine. Keywords: digitalization, ecosystem, functionality, digital transformation risks, innovations, platform, competitive advantages, digital transformation strategy.