Strategic Aspects of Digital Business Transformation

The article formulates the essence of the concept of "digital transformation of business". The main strategic aspects of digitalization in the modern conditions of the functioning of international companies are substantiated. Based on the results of the research, the challenges of digital transformation were identified, and various types of digital business models were analyzed. The reasons that exacerbate problems in the field of digital transformation of business are formulated. Stages of the process of digital business transformation based on change management are recommended. The differences between digital marketing and digital branding are identified.

Digital business transformation is the process of implementing digital technologies to improve all aspects of the company's activities, including optimization of business processes.

Among the reasons that exacerbate problems in the field of digital transformation of business can be named: lack of a clear strategy and vision; employee unpreparedness; insufficient budget; cultural barriers; insufficient integration with existing systems; insufficient attention to cyber security; inadequate monitoring and evaluation.

Digital business models have great potential to revolutionize almost all sectors of the economy. For companies that want to remain competitive, it is important to understand how to use digital technologies to create new value for customers and develop new business models.

The use of digital marketing and branding tools is about strategic, customer-driven business transformation that requires end-to-end organizational change as well as digital adoption. Digital transformation drives the organization to better manage change as a whole, essentially making change a core competency as the enterprise becomes customer-centric system.

Digital transformation has become an integral part of modern business. It allows companies to adapt to rapidly changing market conditions, improve operational efficiency and create new opportunities for growth and scaling. Companies that do not adopt digital technologies risk being left behind by their competitors. Digital tools allow to optimize business processes, improve the quality of products and services, as well as offer customers new opportunities, improve communications with them, and create a more personalized experience for customers. Automation of routine tasks, optimization of business processes, use of cloud technologies – all this allows to reduce costs and increase productivity. At the same time, digital technologies (AI, Internet of Things) open up new opportunities for creating innovative products and services.