Digital business transformation: Trends, innovative models, a development program

The London Academy of Science and Business, 120 Baker Street, London, W1U 6TU, United Kingdom

^* The corresponding author: t.bochulia@gmail.com

Abstract

The article is devoted to solving the current issues on current trends in digital transformation of business as an innovative paradigm due to the development of a multimedia society and the new economy. The essence and the process of forming a digital culture are considered that allowed determining the quantitative and qualitative parameters of its model in accordance with the specifics of the activity and the chosen strategy of the company's development. The process of forming an innovative model of enterprise development on the basis of digital transformation is characterized. The stages of forming an enterprise management policy in the context of innovative development are described. Innovative models of digital development are characterized, according to which the possibility to objectively assess factors and conditions of the organization of digital transformation selecting the necessary direction of development becomes available. The "critical" components of the innovative strategy of increasing the organizational stability of the company are identified. The paper proposes a methodological approach to implementing the transformation program that is accompanied by the development of a digital business model with a step-by-step transition to an innovative basis of activity and adaptation to the digital environment of the business ecosystem.