Theoretical and Applied Economics
No. 3 / 2023 (636), Autumn
A revolutionary journey: Business development through digitalization
University Valahia of Targoviste, Romania
Abstract. The paper examines how digitalization has significantly impacted contemporary businesses. The incorporation of digital technologies has transformed conventional business models in an era of quick technological progress. This transformation covers a range of topics, including improving operational effectiveness, extending market reach, and promoting innovation. The paper starts off by defining digitalization and tracing its history to show how it has evolved into a crucial component of modern business strategy. It emphasizes how important digitalization has been in reshaping conventional business models, with subscription-based business models and e-commerce serving as prime examples of its disruptive potential. With a focus on how automation and data-driven decision-making optimize business operations, efficiency emerges as a key theme. The importance of personalization, global market expansion, and digital marketing as tools for sustainable growth is emphasized in the paper. The paper also explores how agile development and collaborative ecosystems can promote innovation while acknowledging the difficulties and factors related to data security and the digital divide. The paper concludes by highlighting the transformative power of digitalization in forming contemporary business landscapes and highlighting its potential to boost innovation, scalability, and efficiency while navigating difficulties to promote sustainable development.
Contents
The economics and evolution of heroic behavior
Financial contagion and identifying speculative frenzies: Unraveling price bubbles in cryptocurrency markets
Comparative study on the legislative framework for attracting FDI in Romania
Macroeconomic determinants of economic growth. An international perspective
Analysing the interrelationship between Bitcoin price and it’s energy consumption
Comparative study on the global performance of companies with foreign capital and those with Romanian capital
A proposal for modified human development index for BRICS countries. A holistic approach towards sustainable human development
The effect of overconfidence behaviour on stock market volatility in Belgium
The impact of the economic policy uncertainty and geopolitical risks on tourism demand of Mexico
Credit, housing prices, expectations, and the macroeconomy. Evidence from developed and developing countries
The role of the education of hospital managers in a high-performing health system – prerequisites for the unique national standardized program in health management and medical leadership
Competition policies and legislation regarding the European-Asian economic corridors
Modern leadership communication and strategic lobbying
Determinants of foreign capital inflows. The role of push versus pull factors
A revolutionary journey: Business development through digitalization
Are stock markets of emerging economies informationally efficient? Causal analysis of stock prices and macroeconomic variables of EM7 economies for the recent decade
The nexus of foreign trade and economic growth in Tanzania. Examining the influence of COVID-19 pandemic. Evidence from vector error correction model
The impact of management accounting practices: Comparative analysis study between Jordan and Romania
The economic vision of artificial intelligence's (AI) efficiency
Impact of FDI and energy consumption on the agricultural productivity of BRICS nations
Re-visiting exchange rate volatility – risk perception relation. New evidence from Fourier tests
The impact of globalization on labour market specially focusing on wage inequality and job displacement. A theoretical analysis