Actual problems of innovative economy and law

Journal "Actual problems of innovative economy and law" is included in category B for specialties: in the field of knowledge "Management and administration": 073, 076 (order of the Ministry of Education and Science of Ukraine dated 23.08.2023 No. 1035) and 071, 072, 075 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543); in the field of knowledge "Social and behavioral sciences" 051 (order of the Ministry of Education and Science of Ukraine dated August 23, 2023 No. 1035); in the field of knowledge "Law" - 081 and "Public management and administration" - 281 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543).
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Competitive strategies for digital adaptation of business processes

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УДК: 330.47:004:658

DOI: https://doi.org/10.36887/2524-0455-2023-4-4

Мандич Олександра Валеріївна,
доктор економічних наук, професор, професор кафедри фінансів, банківської справи та страхування,
Державний біотехнологічний університет,
https://orcid.org/0000-0002-4375-2208
Малій Олена Григорівна,
кандидат економічних наук, доцент, доцент кафедри фінансів, банківської справи та страхування,
Державний біотехнологічний університет,
https://orcid.org/0000-0003-0434-0937
Бірченко Наталія Олександрівна,
кандидат економічних наук, доцент, доцент кафедри обліку, аудиту та оподаткування,
Державний біотехнологічний університет,
https://orcid.org/0000-0002-8336-2685
Петренко Олег Ігорович,
аспірант
Сумський національний аграрний університет

The article represents the study of the directions of business adaptation to the modern paradigm of market systems functioning – digital transformation. The purpose of this article is to provide a theoretical and methodological basis for the formation of competitive strategies of companies, to identify the peculiarities of digital transformation of business processes, and to introduce modeling scenarios and implement procedures and algorithms for the digital adaptation of competitive strategies of companies. The article presents the competitive impact of the market environment on the formation of a strategic management system, which considers the influence of economic relations participants on the functioning of the selected object market, the influence of analog goods and the commodity market assortment, the impact and advantages of the aggregate, the influence of suppliers on the market architecture, the influence of buyers on the performance of market business entities, etc. It is determined that digital adaptation should take place while considering basic competitive strategies and the integration of digital tools. The authors present some competitive strategies for business development and describe the positive and negative levers of influence on the company’s activities for a particular strategy chosen for this study. In digital adaptation to a competitive strategy, the authors focus on cost, which is one of the basic strategies for gaining competitive advantages and is aimed at achieving a low cost of production or supply of goods in a narrow market niche. This competitive strategy allows the company to succeed by focusing on a specific market segment and providing customers with low-cost products. This strategy was chosen due to the existing opportunities for digital adaptation of the strategy in the current market conditions. It is demonstrated that the development direction of strategic business management has prerequisites for introducing digital adaptation models. A procedural approach and algorithmisation of integration of tools and technologies for digital adaptation of business to modern conditions are proposed, considering the substantive justification of the proposed solutions.

Keywords: competitive strategy, digital transformation, digital adaptation, market activity, business entities, procedural approach, modelling, algorithmisation, efficiency.

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The article was received 18.11.2023

Quote article, APA style

Mandych O. , Maliy O. , Birchenko N. , Petrenko O. 18.11.2023. Competitive strategies for digital adaptation of business processes. Actual problems of innovative economy and law. 2023. №4. 23-29 pp. https://doi.org/10.36887/2524-0455-2023-4-4

Quote article, MLA style

Mandych O. , Maliy O. , Birchenko N. , Petrenko O. Competitive strategies for digital adaptation of business processes. Actual problems of innovative economy and law. 18.11.2023. https://doi.org/10.36887/2524-0455-2023-4-4