Innovative strategies analysis in the conditions of digital transformation of business

Abstract

The article substantiates the necessity of introducing digital technologies into a modern business management system. The emergence of the term «digital economy», representing interpretative concepts, is described. The fourth industrial revolution, which consists in carrying out conceptual changes of all socio-economic phenomena occurring in the modern world and in forming a new ecosystem of scientific, scientific, technical, industrial, social, public relations, information and cognitive technologies. The basic trends of the digital economy are formulated, compliance with which can contribute to obtaining competitive advantages in the modern business environment. It has been established that the main requirement for the implementation of new business models of enterprise management is the use of IT technologies, and the innovation strategy becomes the priority strategy. Based on the analysis of the literature, a classification of innovative strategies has been compiled for such classification features as: reaction to the external and internal environment; model of enterprise behavior in the new market conditions; stage of the life cycle at which the enterprise is located; core of marketing activities and implementation of the innovation strategy in the conditions of digital business transformation. All presented types of innovation strategies to some extend reflect the degree of business innovation and can be the basis for the formation of new business models of enterprises in the digital economy.