Proceedings of the 5th International Conference on Economics, Management, Law and Education (EMLE 2019)

Opportunities of the Digital Economy for Achieving Competitive Advantage of Firms

Authors
Elena Alexandrova, Marina Poddubnaya, Ksenia Shalenaya, Sofia Savvidi
Corresponding Author
Elena Alexandrova
Available Online 7 January 2020.
DOI
https://doi.org/10.2991/aebmr.k.191225.013How to use a DOI?
Keywords
digital economy, competitive advantage, digital economy technologies, business processes
Abstract

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.

Copyright
© 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/).

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Volume Title
Proceedings of the 5th International Conference on Economics, Management, Law and Education (EMLE 2019)
Series
Advances in Economics, Business and Management Research
Publication Date
7 January 2020
ISBN
978-94-6252-878-9
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.191225.013How to use a DOI?
Copyright
© 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  - https://doi.org/10.2991/aebmr.k.191225.013
ID  - Alexandrova2020
ER  -