Baltic Journal of Economic Studies (Jun 2024)
INTERNATIONAL BUSINESS INTEGRATION: BUSINESS PLATFORMS, INTERNATIONAL BUSINESS SYNERGY AND COOPERATION
Abstract
The subject of the study is the integration of international business: business platforms, international business synergy and cooperation. The purpose of the study is to formulate the concept of integrating international business into a single powerful platform by applying existing practices of business platforms. Methodology. The study used general and specific methods of scientific knowledge: the method of system analysis, the dialectical method, the formal logical method and the structural-functional method, as well as a number of empirical methods. Results. It is found that the study of international business integration is not new at the level of doctrine in foreign countries. However, in Ukraine, this phenomenon has not been thoroughly studied and requires the formation of a national vision and laying the foundations for business integration in modern conditions. The main factors that necessitate the creation of business platforms for Ukraine as tools for achieving synergy in the integration of international business in Ukraine include: globalisation processes, technological progress, integration, the need for unification of legislation, the full-scale invasion by the Russian Federation of Ukraine, resource saving, economic growth, etc. The role of civil society in relations with business was highlighted, as it has become a bridge for the state and business in addressing important issues and a communication intermediary between Ukrainian business and the international community, as well as the importance of academic partnerships and incubation programmes in business integration and cooperation. It was noted that the integration of international business is an effective way to attract investment, move business, increase instruments, and provide opportunities to deepen business through integration processes into another financial system that is more capacious and capable. The article substantiates that integration of international business into a single powerful business platform is a long and gradual process which has to go through various stages related to cultural, legal, financial and other types of adaptation. At the same time, the creation of such a mechanism for integrating international business is the goal of the platform.
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