Anti-Crisis Regulation of Enterprises Through Digital Management

Olga Chorna; Inna Semenets-Orlova; Viktoriia Shyshliuk; Mykola Pugachov; Volodymyr Pugachov

doi:10.26668/businessreview/2023.v8i5.1940

Authors

Olga Chorna https://orcid.org/0000-0003-1976-4409
Inna Semenets-Orlova https://orcid.org/0000-0001-9227-7426
Viktoriia Shyshliuk https://orcid.org/0000-0002-8163-5512
Mykola Pugachov https://orcid.org/0000-0002-7507-5870
Volodymyr Pugachov https://orcid.org/0000-0002-5456-5862

DOI:

https://doi.org/10.26668/businessreview/2023.v8i5.1940

Keywords:

Crises, Anti-Crisis Management Tools, Management in the Context of Digitalization, Digitalization of Management, Use of Automated Technologies, An it Transformation of Management

Abstract

Purpose: The digitalization of social processes as one of the main trends in the development of today's society dictates the need for the market to adapt to new business conditions. The quality of corporate governance must constantly improve. This is achieved not only using digital technologies by the company's management to process information but also due to the growing pressure from consumers from the digital generation to be competitive. These consumers want to buy products and services that are tailored to them and receive a high level of personalized service.

Theoretical framework: Given the requirements of economic, political, and financial stability, imperfections in the market for goods and services, the investment system, and a significant number of company bankruptcies cases, there has been a growing interest in researching the problems of crisis phenomena in the work of enterprises. Equally important has become the use of digital management tools to analyze the factors of their occurrence, and to find effective mechanisms for preventing and eliminating the consequences of the crisis.

Design/methodology/approach: The article aims to identify the main trends in the modern process of crisis management of companies using digital management tools. Moreover, it is also crucial to determine the specific features of the practical aspects of such management in the current environment.

Findings: In the course of the study, bibliographic and analytical methods were used to study the scientific literature on crisis management. The deduction, induction, synthesis, information analysis, system-structural, comparative, logical, and linguistic methods, abstraction, and idealization were employed to study and process data. Moreover, the authors conducted an online questionnaire survey to clarify the most important issues related to management through digital management.

Research, Practical & Social implications: Based on the results of the study, the most important theoretical aspects of the issue of crisis management with the help of digital management tools are identified.

Originality/value: The value of the research lies in the fact that it explores the views of academics and business leaders on key aspects of this issue.

Downloads

Download data is not yet available.

References

Ahn, J., Mortara, L. & Minshall, T. (2018). Dynamic capabilities and economic crises: has openness enhanced a firm’s performance in an economic downturn? Industrial and Corporate Change, 27, 1, 49–63. https://academic.oup.com/icc/article-abstract/27/1/49/4662982?redirectedFrom=fulltext. https://doi.org/10.1093/icc/dtx048.

Almashhadani, A. N. (2023). Iraq’s Accession to the Wto and the Possible Economic Effects. International Journal of Professional Business Review, 8, 4, e01323. https://openaccessojs.com/JBReview/article/view/1323. https://doi.org/10.26668/businessreview/2023.v8i4.1323

Ammirato, S., Sofo, F., Felicetti, A.M., Helander, N. & Aramo-Immonen, H. (2019). A new typology to characterize the Italian digital entrepreneurs. International Journal of Entrepreneurial Behavior & Research, 26, 2, 224–245. https://www.emerald.com/insight/content/doi/10.1108/IJEBR-02-2019-0105/full/html. https://doi.org/10.1108/IJEBR-02-2019-0105.

Asamoah, D., Agyei-Owusu, B. & Ashun, E. (2020). Social network relationship, supply chain resilience and customer-oriented performance of small and medium enterprises in a developing economy. Benchmarking: An International Journal, 27, 5, 1793–1813. https://www.emerald.com/insight/content/doi/10.1108/BIJ-08-2019-0374/full/html. https://doi.org/10.1108/BIJ-08-2019-0374.

Audretsch, D.B. & Belitski, M. (2021). Knowledge complexity and firm performance: evidence from the European SMEs. Journal of Knowledge Management, 25, 4, 693–713. https://www.emerald.com/insight/content/doi/10.1108/JKM-03-2020-0178/full/html. https://doi.org/10.1108/JKM-03-2020-0178.

Autio, E., Mudambi, R. & Yoo, Y. (2021). Digitalization and globalization in a turbulent world: centrifugal and centripetal forces. Global Strategy Journal, 11, 1, 3–16. https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1396. https://doi.org/10.1002/gsj.1396.

Berestetska, O., Iankovets, T., Orozonova, A., Voitovych, S., Parmanasova, A., & Medvedieva, K. (2023). Using Crm Systems for the Development and Implementation of Communication Strategies for Digital Brand Management and Internet Marketing: eu Experience. International Journal of Professional Business Review, 8, 4, e01613. https://openaccessojs.com/JBReview/article/view/1613 https://doi.org/10.26668/businessreview/2023.v8i4.1613

Branicki, L., Sullivan-Taylor, B. & Livschitz, R. (2018). How entrepreneurial resilience generates resilient SMEs. International Journal of Entrepreneurial Behavior & Research, 24, 7, 1244–1263. https://www.emerald.com/insight/content/doi/10.1108/IJEBR-11-2016-0396/full/html. https://doi.org/10.1108/IJEBR-11-2016-0396.

Büyüközkan, G. & Göçer, F. (2018). Digital supply chain: literature review and a proposed framework for future research. Computers in Industry, 97, 4, 157–177. https://www.sciencedirect.com/science/article/abs/pii/S0166361517304487?via%3Dihub. https://doi.org/10.1016/j.compind.2018.02.010.

Cappiello, A. (2020). The digital (R)evolution of insurance business models. American Journal of Economics and Business Administration, 12, 1, 1–13. https://thescipub.com/abstract/10.3844/ajebasp.2020.1.13. https://doi.org/10.3844/ajebasp.2020.1.13.

Conz, E. & Magnani, G. (2020). A dynamic perspective on the resilience of firms: a systematic literature review and a framework for future research. European Management Journal, 38, 400–412. https://linkinghub.elsevier.com/retrieve/pii/S0263237319301483. https://doi.org/10.1016/j.emj.2019.12.004.

Corvello, V., Verteramo, S., Nocella, I. & Ammirato, S. (2022). Thrive during a crisis: the role of digital technologies in fostering antifragility in small and medium-sized enterprises. Journal of Ambient Intelligence and Humanized Computing. https://link.springer.com/article/10.1007/s12652-022-03816-x.

Elia, S., Giuffrida, M., Mariani, M. M. & Bresciani, S. (2021). Resources and digital export: An RBV perspective on the role of digital technologies and capabilities in cross-border e-commerce. Journal of Business Research, 132, 158–169. https://www.sciencedirect.com/science/article/abs/pii/S0148296321002484?via%3Dihub. https://doi.org/10.1016/j.jbusres.2021.04.010.

Ercan, O. & Samet, G. (2018). Literature review of industry 4.0 and related technologies. Journal of Intelligent Manufacturing, 31, 127–82. https://link.springer.com/article/10.1007/s10845-018-1433-8. doi: 10.1007/s10845-018-1433-8.

Genari, D., Costa, L., Savaris, T. & Macke, J. (2018). Smart Cities e o Desenvolvimento Sustentavel: Revisao de Literatura e Perspectivas de Pesquisas Futuras. Revista de Ciencias da Administracao, 20, 51, 69–85.

Goldfarb, A. & Tucker, C. (2019). Digital economics. Journal of economic literature, 57, 3–43. https://www.aeaweb.org/articles?id=10.1257/jel.20171452. http://doi.org/10.1257/jel.20171452.

Kan, D., Lyu, L., Huang, W. & Yao, W. (2022). Digital Economy and the Upgrading of the Global Value Chain of China’s Service Industry. Journal of Theoretical and Applied Electronic Commerce Research, 17, 1279–1296. file:///C:/Users/user/Downloads/jtaer-17-00065.pdf. https://doi.org/10.3390/ jtaer17040065.

Maslak, O., Sokurenko, P., Grishko, N., Buriak, I. & Maslak, M. (2020). Anti-crisis approach in the industrial enterprise management: methodological tools of preventive regulation. SHS Web of Conferences, 73, 010. https://doi.org/10.1051/shsconf/202073010 IES2019 18 18. https://www.brookings.edu/research/trends-in-the-information-technology-sector/.

Pradhan, R. P., Arvin, M. B., Nair, M., Bennett, S. E. & Bahmani, S. (2019). Short-term and long-term dynamics of venture capital and economic growth in a digital economy: a study of European countries. Technology in Society. 57, 125–34. https://linkinghub.elsevier.com/retrieve/pii/S0160791X18301829. doi: 10.1016/j.techsoc.2018.11.002.

Qian, W., Liu, H. A. & Pan, F. H. (2022). Digital economy, industry heterogeneity, and service industry resource allocation. Sustainability, 14, 8020. https://www.mdpi.com/2071-1050/14/13/8020. http://doi.org/10.3390/su14138020.

Timchuk, O. G. & Evloeva, M. V. (2020). Difficulties in transforming the construction industry under the digital economy. IOP Conference Series: Materials Science and Engineering, 880, 012082. https://iopscience.iop.org/article/10.1088/1757-899X/880/1/012082. http://doi.org/10.1088/1757-899X/880/1/012082.

Zhang, L. L., Pan, A., Feng, S. S. & Qin, Y. Y. (2022). Digital economy, technological progress, and city export trade. PloS ONE 2022, 17, e0269314. https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0269314. http://doi.org/10.1371/journal.pone.0269314.