Benefits and Risks of Digital Business Transformation: The Example of Eastern Europe Countries

Authors

  • Andrii Zolkover Kyiv National University of Technologies and Design
  • Iaroslav Petrunenko Odessa I.I. Mechnikov National University https://orcid.org/0000-0002-1186-730X
  • Olesia Iastremska Simon Kuznets Kharkiv National University of Economics
  • Oksana Stashkevych National Pedagogical Dragomanov University https://orcid.org/0000-0002-4556-0293
  • Mehriban Mehdiqizi Mehdizade Azerbaijan State University of Economics (UNEC)

DOI:

https://doi.org/10.15549/jeecar.v9i2.910

Keywords:

digital transformation, business, Eastern Europe, digital technology, strategy, digital economy

Abstract

The purpose of this research was to conceptually substantiate an effective business digitalization strategy in Eastern Europe (EE), taking into account the identification of destructive and complementary factors of digital transformation (DT). The survey, completed by top managers of companies from different sectors of the EE countries' economy, helped form a system of indicators for assessing the level of DT by country.  The systematization of the DT factors made it possible to differentiate them by the nature of influence, advantages, and threats of the DH (digital humanities) for the EE countries. The results indicated a low and medium level of DT in the countries studied because of the lack of a digitalization strategy. A matrix of business digitalization management strategies has been formed for Eastern European countries, considering the efficiency level, digitalization threats, and the priority in their management.  It will help mitigate the threats of DT and reduce the digital divide with countries with a high level of DT.

Author Biographies

Iaroslav Petrunenko, Odessa I.I. Mechnikov National University

Doctor of Law, Full Professor, Odessa I.I. Mechnikov National University, Ukraine

Olesia Iastremska, Simon Kuznets Kharkiv National University of Economics

PhD in Economics, Associate Professor, Simon Kuznets Kharkiv National University of Economics, Ukraine

Oksana Stashkevych, National Pedagogical Dragomanov University

PhD in Philosophy, National Pedagogical Dragomanov University, Ukraine

Mehriban Mehdiqizi Mehdizade, Azerbaijan State University of Economics (UNEC)

PhD in Economics, Azerbaijan State University of Economics (UNEC), Azerbaijan

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Published

2022-03-11

How to Cite

Zolkover, A., Petrunenko, I. ., Iastremska, O. ., Stashkevych, O. ., & Mehdizade, M. M. (2022). Benefits and Risks of Digital Business Transformation: The Example of Eastern Europe Countries. Journal of Eastern European and Central Asian Research (JEECAR), 9(2), 344–356. https://doi.org/10.15549/jeecar.v9i2.910