The Digital Transformation of Business in the Context of Development of Innovative Processes in Ukraine

Abstract

The article solves an important scientific-practical task in terms of studying the impact of innovative processes in Ukraine on the transformation of business in the context of digital economy. Problems arising from the innovation activities of organizations often have an economic, even macro-economic, nature, are expressed in the imbalance of economic processes, slowdown (during the period of transformation) of economic growth, and mismanagement of resources. It is specified that today a significant number of indices and rankings are used in the world, with which it is possible to assess the innovative development of the country in various directions of public life. The carried out analysis of Ukraine’s ratings in the world showed both positive and negative trends of their dynamics, timely accounting of which will allow to form a strategic vector of stable functioning and development of business. However, it is digital transformation that has the greatest potential, so we look at the digital transformation model of business, which defines approaches to transforming business models, business processes and transforming the customer service. It is defined that online commerce is one of the most progressive directions for trade organizations nowadays. The carried out research proves its slow development, which confirms imperfection of Ukrainian regulatory framework for the digitalization of business, weakening of the economy as a whole, passivity of the leadership of organizations in regard to the introduction of innovative technologies for business development. Therefore, the problem of business transformation in the context of digital economy can be solved by gaining new knowledge, transition to a managed socio-cultural evolution, building up a socially oriented economy.

Keywords

• digitalization of business
• innovation development
• internet trade
• transformation
• organization