The Idea of Digital Business Transformation: Models, Changes and New Challenges

Abstract

Relevance. Digital transformation has been one of the key driving forces in the economy over the past few years, and the introduction of digital technologies is becoming an essential condition for an efficient, competitive and sustainable business. The article is devoted to the formation of the concept of digital transformation in the modern business environment, with a focus on the growing new challenges from the external environment. A wide range of studies devoted to this issue highlights various aspects, including barriers, strategies, elements and other components of this complex definition, which leads to the existence of multiple variations of approaches, both to the vision of the essence of digital transformation and its resulting parameters. The purpose of the study is theoretical and methodological elaboration of the issues of the essence of the categorical apparatus of the category "digital transformation of business" and the disclosure of its structural components, as well as clarification for further strategic management and reduction of the consequences of risk determinants. Objectives: analysis of statistical data on the level of digitalization of business in Russia; identification of key elements of digital business transformation; consideration of digital transformation as a business process. Methodology. As part of the study, materials from world rating reports and news agencies were used, as well as developments by representatives of the national scientific school, which was the basis for a critical analysis. Standard methods of statistical processing, generalization, and comparison were used. The method of classification and comparative analysis, as well as methods of structural-functional and strategic analysis are applied. Results. The article presents the main trends of digitalization of business in Russia. The author's approach to understanding the definition of "digital transformation of business" is formulated, its key elements are highlighted. A conceptual model of digital business transformation in the conditions of practical implementation of the basic development strategy is proposed. Conclusions. The technologies that form the basis of digital transformation are revolutionary in themselves, and in their synergetic effect are capable of radically transforming business and society, destroying old business models, thereby contributing to the increase of competitive opportunities and rapid adaptation to chaotically changing market requirements.