Digital Business Environment: Prospects and Challenges for the Development of Economic Systems

Abstract

The presented study examines the digital transformation of society in the current context. It is established that the digital business environment affects all economic sectors, the character of production, distribution, exchange, and consumption of goods, changes the structure of social production and employment. It radically transforms the way business structures adapt to the challenges of the modern age and the prospects of their development and competitiveness. The tools and mechanisms for the functioning of the digital environment should be determined based on the demand of entrepreneurs for digital resources. With the explosive growth of digital technology and the mass spread of the Internet, traditional management systems are being used less. This makes it obvious that business activities should be digitalized through the implementation of information systems along with changes in management. The government should facilitate investment in the development of the information business and support innovative enterprises oriented towards international markets. This would help the Russian Federation to remain competitive at the onset of the sixth wave of innovation. Aim . The study aims to show the genesis and role of state regulation in the development of the infrastructure-based digital business environment, to analyze the major areas of the digital environment, and to propose modern tools that should exist in the system of business support during the sixth wave of innovation. Tasks . The authors analyze the development of the digital environment in Russia and worldwide with allowance for changes in management; examine the tools and mechanism for the digital adaptation of the business; identify problems and opportunities for the successful implementation of digital technologies to improve business competitiveness in Russia. Methods . This study uses comparative, static, and dynamic analysis and systematization of scientific literature in conjunction with historical development, elements of a systems approach, and modeling of socio-economic development processes. Results . The authors prove that implementation of projects in the field of information business will increase the investment attractiveness of both national and regional socio-economic systems, leading to a growth in innovative entrepreneurship and ensuring the inflow of investment in research and development, including in the field of digitalization. This, in turn, will create conditions for sustainable economic development. Conclusions . The necessity of implementing a project approach to the development of business digitalization in Russia in state regulation and infrastructure support for business activities is substantiated. The major directions of digital business support in Russia are identified.