Digitalisation, Innovation, and Transformation (original) (raw)
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Modern business environment changes under the influence of the second wave of disruptive digital technologies such as mobile applications, social networks, cloud computing, big data analytics and Internet of things. The specificity of these digital innovations defined as The Fourth industrial revolution is that they bring about changes in the complete industry sectors becoming in this way a key condition for further competitive business operations in the global market. This paper analyses the contribution of new digital technologies to economic growth of national economies and higher productivity and competitiveness of companies. In order to maintain competitiveness level, modern enterprises have to start the process of digital transformation that requires new organization models, redesigned business processes and new ways of communication with partners and customers. According to some authors this is the biggest transformation in business the world has seen in over a century. The untapped potential here really is enormous and it represents big challenge for all industries and national economies. EU experiences in the development of digital entrepreneurship are analyzed, as well as challenges of digital change in domestic companies. Keywords: Information-communication technology, Growth, Productivity, Innovation, Competitiveness.
SHS Web of Conferences
Digitalization is changing the global business ecosystem at an unimaginable speed. Although previous industrial revolutions took dozens of years to transform the existing markets, internet-based companies like Google, Amazon and Uber have done it in less than ten years. Business models in the nearest future – how will they look like? Where will the extensive process of the fourth industrial revolution take us? How will our role as entrepreneurs, managers or consumers change in the new business ecosystem? In this paper we consider the changes concerning the process of digitalization as the main prerequisites for transformation of business models. We combine them into three main aspects that influence modern business modeling approaches: technological, social and economic. This prospective gives insight into the way the future business models will look like and leads us to practical recommendations for companies to follow when digitizing their business.