The ways of business digitalization in global corporations

Abstract

Research background: Under the conditions of post-industrial economy, market subjects tend to use digital technologies more intensively. Many authors define digital technologies as innovation, describe possibilities of automatization and try to find out some limitations of smart technologies implementation. In this research, we consider that Industry 4.0 and digital technologies can transform traditional business model radically. That is why, it is very important to highlight the ways of digitalization in business and to justify the choice of the most effective smart technologies during the period of business transformation. Purpose of the article: to highlight the local ways of digitalization in global corporations and to discover the most effective ones among them. Methods: in this research, we run comparative analysis of new business models using recent articles in scientific journals and empirical evidence from open sources. Also, we use the results of expert assessments based on depth-in interviews. Findings & Value added: the most perspective ways of digitalization in global corporations are highlighted: digital automatization implementation, during which the existent process in traditional business model is digitized; new IT service appearance, that improves the traditional business model; digital transformation of traditional business model into the new one with a digital platform core. A visual model of monitoring the digitalization process within the company is proposed. It is proved that smart technologies can transform business model radically. These technologies affect the structure of companies’ supply and can change market structure (including global market) through active company strategy and behavior.

Keywords

• strategic management
• industry 4.0
• global corporations
• business model
• digitalization