DIGITAL OPTIMIZATION OF ADAPTIVE MANAGEMENT THROUGH THE FORMATION OF FINANCIAL AND ECONOMIC POTENTIAL OF ENTERPRISES IN UKRAINE

Keywords: optimization, financial and economic potential, industrial enterprises, adaptive management, Industry 4.0 technologies, digital transformation

Abstract

Digitalization is entering almost all spheres of industry and services, making irreversible changes in the management of companies, improving their financial and economic activities and making them more flexible and competitive on the market. It is the use of powerful software, equipment and digital tools that forms the company's competitive advantages in the market. Digitalization opens up many new opportunities for organizations for further effective development and is an effective mechanism for implementing positive changes in companies. Therefore, digitization processes are quite relevant and require more thorough research in modern conditions. Using digitization processes, companies can optimize existing business models, get new opportunities for developing their own business, expand their scope of activity and have tools to increase and improve the main indicators of business performance and increase their competitiveness. The article examines several successful domestic and international examples of digital transformations in the business management of companies and provides basic recommendations for business adaptation to digital transformation. Achieving digital maturity for a company as quickly as possible consists of main elements: initial (using the latest technologies in individual business processes), formal (at this stage, the effect of the transition is not fully understood, but it is known that digitalization should lead to changes for the better), strategic (here, the company already has most of the new digital processes, the clear effect of implementation and digital transformation is already the strategy of the company), converted (a corporate culture based on digitization has already been formed at a sufficient level, each department and employee sees their role in this process and is proactive in introducing new technologies), innovative and transitional ones (the company's business processes are digital, every action that takes place in the company contains digital tools). Minimizing financial risks is quite important in the process of digital transformation. The main drivers of digital transformation are, first of all, consumers and clients, who shape the main changes for the company. The main task is not to disappoint one's own consumer and to make business processes in the company with the best possible digital experience.

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Published
2024-01-31
How to Cite
KudrinaО., Biriukov, O., & Bakin, M. (2024). DIGITAL OPTIMIZATION OF ADAPTIVE MANAGEMENT THROUGH THE FORMATION OF FINANCIAL AND ECONOMIC POTENTIAL OF ENTERPRISES IN UKRAINE. Entrepreneurship and Innovation, (30), 121-125. https://doi.org/10.32782/2415-3583/30.19
Section
International Economic Relations