Directions for Improving Business Models of Industrial Enterprises in the Republic of Belarus in the Context of Digitalization

Directions for improving the business models of industrial enterprises in the Republic of Belarus in the context of digitalization have been developed. Studies of the theoretical foundations of business models transformation have been carried out in the industry. To achieve this goal, tasks such as identifying the specifics of the digital transformation of an industrial enterprise, studying the prerequisites for the transformation of business models of industrial enterprises in the Republic of Belarus in the context of digitalization, developing and essentially characterizing areas for improving the business models of industrial enterprises in the Republic of Belarus in the context of digitalization. The materials used are the works of domestic and foreign scientists-economists, data from research reports performed by the authors, and national statistical data. The systematic and institutional approaches, analysis and synthesis have been applied. A methodological approach has been developed to transform the business model under the influence of digitalization as to the process of irreversible qualitative changes in the mechanism of reproduction of the use value of the economic system, due to the introduction of digital technologies and tools in production and business processes, in systems of interaction with other participants in the value chain and consumers, as well as in the goods or services themselves. This made it possible to explore the possibilities of transforming business models under the influence of digitalization of the interaction of an enterprise with other participants in the value chain (network) and the state; interaction between the enterprise and the consumer; improvement of internal production and business processes, including creation of digital services. Technical-technological and organizational-economic relations at an industrial enterprise are considered as factors in the digitalization of its business model. As prerequisites for the transformation of business models of industrial enterprises in the Republic of Belarus in the context of digitalization, the following were identified: an increase in the access of industrial enterprises to computing power, high-speed data transfer, and cloud technologies;  a positive dynamics of indicators of digitalization of the Belarusian economy and society, digitalization of the sphere of public administration and interactions “state-business” and “state-population”. All this, as a result of the study, made it possible to develop directions for improving the business models of industrial enterprises in the Republic of Belarus in the context of digitalization.