Changes and proposals to boost business productivity and competitiveness in Riga planning region

Abstract

The result of the wider application of new digital skills is an increase in productivity as a basis for the growth of Latvian companies in the global market and an increase in material well-being in the market as a whole. In turn, the growth and competitiveness of companies is based on the ability to create and sell demanded, knowledge-intensive products and services on the basis of science, integrating into increasingly higher value-added global chains. Many companies are facing economic difficulties during the COVID- 19 crisis and have to suspend or significantly reduce their operations and staff. However, for some companies, the crisis has also given them the opportunity to reorient their operations to the digital environment, both in serving customers and in organizing the company's operations. The data obtained during the study show that the majority of entrepreneurs predict a decline in customer solvency and the emergence of new digital technologies in the market. Entrepreneurs think they should make more use of the latest technologies (forms of digital sales and communication with customers), new forms of cooperation in company communication (forms of digital communication with employees) and plan to introduce remote and / or semi-remote work. Entrepreneurs expect that the biggest challenges after the crisis caused by the pandemic will be the acquisition of new leadership skills and the acquisition of new digital technologies, as well as attracting investment. Unfortunately, the data of the study show that the majority of entrepreneurs did not use the support programs of state and local government institutions, but assessed the support measures developed by the government as very fragmented. The aim of the research: to assess the changes in the planning region at companies in different sectors in Riga planning region and to develop proposals to increase business productivity and competitiveness. Research methods: statistical data collection, business survey and in-depth interview.