The Impact of Digitalization of the Economy on the Competitiveness of Business Structures

The current stage in the development of civilization is characterized by the development and practical implementation of advanced technology, particularly innovative information technology, which affects all areas of society. Digitalization of the economy forms new competitiveness factors for business structures and calls for a comprehensive consideration of all competitiveness factors in managerial decision-making.

Aim. The study aims to determine the effects of digitalization of the economy on the competitiveness of business structures and to identify additional factors that need to be taken into account during its assessment.

Tasks. The authors determine the specific features of digitalization of the economy, reveal the integral factors of the competitiveness of business structures, and identify the specifics of consideration of competitiveness factors in the context of digitalization of the economy.

Methods. The study is based on the dialectical systems approach as well as logical and factorial analysis using the theoretical framework of analysis of economic processes. The analysis is based on the international scientometric database Scopus and the bibliographic database of the Russian Science Citation Index (RSCI).

Results. The authors substantiate the need to make allowance for additional specific factors of competitiveness of business structures under modern conditions, particularly in the assessment of the competitiveness of business structures, financial factors, and the level of human capital development in addition to the factors of operating efficiency, strategic positioning, and innovation potential.

Conclusions. During the assessment of competitiveness of business structures, particularly in the context of digitalization, it is advisable to make allowance for return on assets, indicators of innovation potential, integrated human capital development index, and integrated indices of financial sustainability, variability and at the same time stability of the financial state of a business structure.

1. Babkin A.V., Chistyakova O.V. Digital economy and its impact on the competitiveness of business structures. Rossiiskoe predprinimatel’stvo = Russian Journal of Entrepreneurship. 2017;18(24):40874102. (In Russ.). DOI: 10.18334/rp.18.24.38670.

2. Kunin V.A., Tarut’ko O.A. Competitive assessment of business structures in the context of economic instability. Ekonomika i upravlenie = Economics and Management. 2018;(4):37-44. (In Russ.).

3. Tarut’ko O.A. Analysis and refinement of the category-conceptual apparatus of the theory of competitiveness of entrepreneurial structures. In: The development of financial relations during the emergence of the digital economy. Proc. Int. sci.-pract. conf. St. Petersburg: SPb. Univ. of Management Technology and Economics; 2018:297-306. (In Russ.).

4. Kunin V.A., Tarut’ko O.A. The system of competitiveness indices of entrepreneurial structures. Problemy sovremennoi ekonomiki = Problems of Modern Economics. 2018;(1):65-68. (In Russ.).

5. Voronov D.S. Dynamic approach for evaluating the competitiveness of enterprises. Marketing v Rossii i za rubezhom = Journal of Marketing in Russia and Abroad. 2014;(5):92-102. (In Russ.).

6. Kunin V., Rumyantseva A., Tarutko O. Conceptual framework for managing the competitiveness of the entrepreneurial structures. MATEC Web of Conferences. 2018;193. DOI: 10.1051/matecconf/201819305071.

7. Official website of the Federal State Statistics Service. (accessed on 13.08.2019). (In Russ.).

8. Babkin A.V., Chistyakova O.V. Development of innovative entrepreneurship in Russia: The concept, dynamics, problems, development trends. Ekonomicheskoe vozrozhdenie Rossii = The Economic Revival of Russia. 2014;(4):157-170. (In Russ.).

9. Strebkov D.O. The innovative potential of agents of the new economy. Forsait = Foresight and STI Governance. 2010;4(2):26-33. (In Russ.).

10. Petko O.V. Investments in human capital assets as factor of country economic security. Kreativnaya ekonomika = Journal of Creative Economy. 2012;(5):46-49. (In Russ.).

11. Vasil’eva A.N. On the issue of assessing the level of development of human capital of an organization. Izvestiya Baikal’skogo gosudarstvennogo universiteta = Bulletin of Baikal State University. 2010;(5):110-114. (In Russ.).

12. Putin announced the rapid growth of uncertainty in the world. Vesti. Ekonomika. June 7, 2019. URL: https://www.vestifinance.ru/articles/120534 (accessed on 13.08.2019). (In Russ.).

13. Kunin V.A. Management of financial security and profitability of enterprises in conditions of economic instability. Uchenye zapiski Mezhdunarodnogo bankovskogo instituta = Scientific Notes. International Banking Institute. 2014;(7):192-203. (In Russ.).

14. Gilyazova L.R. Methodology for calculating the integral indicator of financial stability based on the balance sheet data. Molodoi uchenyi = Young Scientist. 2012;(8):91-93. URL: https://moluch.ru/archive/43/5198/ (accessed on 13.08.2019). (In Russ.).

15. Dzhetpisova A.B. Financial stability as one of the important indicators of assessing financial condition. Rossiiskoe predprinimatel’stvo = Russian Journal of Entrepreneurship. 2007;(6):115119. (In Russ.).

16. Vishnyakova A.V., Onishchuk A.V. Integral assessment of financial stability of an enterprise. URL: http://be5.biz/ekonomika1/r2014/3765.htm (accessed on 13.08.2019). (In Russ.).

17. Pogostinskaya N.N. Systemic financial and economic diagnostics. St. Petersburg: International Banking Institute; 2007. 159 p. (In Russ.).

18. Pogostinskii Yu.A. Normative models of the system analysis of the economic activity of the enterprise. St. Petersburg: ETU “LETI”; 1999.191 p.

19. Polishchuk E.I., Rumyantseva A.Yu., Tarut’ko O.A. Financial factors that impact the competitiveness of entrepreneurial structures. Problemy sovremennoi ekonomiki = Problems of Modern Economics. 2017;(4):259-261. (In Russ.).

20. Official website of the Administration of St. Petersburg. URL: https://www.gov.spb.ru/gov/otrasl/c_industrial/innovacii/ (accessed 13.08.2019). (In Russ.).

21. Babkin A.V., Alekseeva N.S. Trends in the development of the digital economy based on a study of scientometric databases. Ekonomika i upravlenie = Economics and Management. 2019;(6):1625. (In Russ.). DOI: 10.35854/1998-1627-2019-6-16-25.