Opportunities of the Digital Economy for Achieving Competitive Advantage of Firms
- 10.2991/aebmr.k.191225.013How to use a DOI?
- digital economy, competitive advantage, digital economy technologies, business processes
The present article studies the opportunities and constraints of the digital economy, that have a significant impact on how modern firms attain and sustain competitive advantage. Economic agents that manage to use digitalization of business to their best advantage get access to the most innovative methods of creating, delivering and obtaining product value. However, digital technologies also constitute threats to traditional competitive advantage, which greatly contributed to firms’ successful performance in the market. The article discusses the tendencies of creating and developing competitive advantage, with the account taken of the turbulent business environment and the complexity of the digital environment where firms have to compete. The conclusion has been made on the need for a digital strategy to guide firms through opportunities and prospects of applying certain digital economy technologies. Another aspect of creating competitive advantage in the digital economy is related to developing cooperation within interorganizational networks. It is also essential to ensure coordinated actions on building long-term relationships with consumers, according to digital economy technologies being introduced, and creating competitive advantage.
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Elena Alexandrova AU - Marina Poddubnaya AU - Ksenia Shalenaya AU - Sofia Savvidi PY - 2020 DA - 2020/01/07 TI - Opportunities of the Digital Economy for Achieving Competitive Advantage of Firms BT - Proceedings of the 5th International Conference on Economics, Management, Law and Education (EMLE 2019) PB - Atlantis Press SP - 69 EP - 73 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.191225.013 DO - 10.2991/aebmr.k.191225.013 ID - Alexandrova2020 ER -