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Business Models of Enterprises in the Conditions of Digital Transformation: Global and Domestic Experience

Author

Listed:
  • Shostak Liudmyla

    (Lesya Ukrainka Volyn National University, Lutsk, Ukraine)

  • Lipych Liubov

    (Lutsk National Technical University, Lutsk, Ukraine)

  • Anatolii Fedoniuk

    (Lesya Ukrainka Volyn National University, Lutsk, Ukraine)

  • Volynets Iryna

    (Lesya Ukrainka Volyn National University, Lutsk, Ukraine)

  • Andrew Ulyanytsky

    (Lesya Ukrainka Volyn National University, Lutsk, Ukraine)

  • Morokhova Valentyna

    (Lutsk National Technical University, Lutsk, Ukraine)

Abstract

The article aims to provide a comprehensive overview of both theoretical concepts and practical applications regarding the transformation of business models in the context of digitalizing the economy. In the current digital landscape, traditional business models may no longer suffice to sustain growth and competitiveness. Therefore, there is a pressing need to identify and adopt novel approaches that leverage digital technologies to their fullest potential. By examining the latest trends and emerging paradigms in economy’s, the article aims to re-think their strategies and embrace digital transformation proactively. This involves not only incorporating technology into existing operations but also reimagining the entire business model to capitalize on new opportunities and address evolving consumer behaviors. Furthermore, the article aims to provide practical insights and actionable recommendations for businesses looking to embark on their digital transformation journey.

Suggested Citation

  • Shostak Liudmyla & Lipych Liubov & Anatolii Fedoniuk & Volynets Iryna & Andrew Ulyanytsky & Morokhova Valentyna, 2024. "Business Models of Enterprises in the Conditions of Digital Transformation: Global and Domestic Experience," Economics, Sciendo, vol. 12(2), pages 243-261.
    • Handle: RePEc:vrs:econom:v:12:y:2024:i:2:p:243-261:n:1014
    DOI: 10.2478/eoik-2024-0027
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    More about this item

    Keywords

    model; business model; digitalization; digital transformation; digitalization; digital era; digital technologies;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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