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September 2023 (published: 04.09.2023)
Number 3(54)
Home > Issue > Digital technologies in business strategy of developing economies
Nikolaeva A.M.
, Zajchenko I.M. , Diomande M.I.
, Sharonova A.D.
The article examines the processes of digitalization and the changes that occur under their influence in the economies of the countries of the African continent. Significant changes are shown in the functioning of enterprise management mechanisms, in socio-economic development and growth in the standard of living of the population, but, above all, in business development. Particular attention is paid to the state of digitalization and the results of its impact on the economy in West African countries. Attention is drawn to these countries because until recently, before the spread of digital technologies, their economies were classified as underdeveloped. Indicators such as the level of digitalization, digital quality of life, etc., reflect noticeable changes in the banking sector of mobile payments, which allow for safe and convenient financial transactions, even when clients do not have access to banking services. Another example of advances in digitalization is the education sector, where online resources and electronic textbooks have become available to improve literacy and develop skills needed for future jobs. Digital technologies also play an important role in public administration, making it possible to introduce electronic accounting and monitoring systems that help increase the transparency and efficiency of government programs, reduce the level of corruption, and provide quality services to the population. Successful digital practices in West African countries show that even with limited resources and other economic difficulties, significant results in economic and social development can be achieved. Achievements in the development of these countries expand ideas about the possibilities of modernization in modern developing economies without revising traditional institutional values. The subject of study is the socio-economic spheres of digitalization in developing countries of the African continent. The methods used in the article represent a descriptive - ontological description of digitalization in developing economies, and also apply content and comparative analysis, the method of analogies, methods for visualizing source data and the results obtained in business management research.
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Keywords: developing economies of the African continent, digitalization of the economy, digitalization index, digital quality of life, business management
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 338.24; 339.971
Digital technologies in business strategy of developing economies
The article examines the processes of digitalization and the changes that occur under their influence in the economies of the countries of the African continent. Significant changes are shown in the functioning of enterprise management mechanisms, in socio-economic development and growth in the standard of living of the population, but, above all, in business development. Particular attention is paid to the state of digitalization and the results of its impact on the economy in West African countries. Attention is drawn to these countries because until recently, before the spread of digital technologies, their economies were classified as underdeveloped. Indicators such as the level of digitalization, digital quality of life, etc., reflect noticeable changes in the banking sector of mobile payments, which allow for safe and convenient financial transactions, even when clients do not have access to banking services. Another example of advances in digitalization is the education sector, where online resources and electronic textbooks have become available to improve literacy and develop skills needed for future jobs. Digital technologies also play an important role in public administration, making it possible to introduce electronic accounting and monitoring systems that help increase the transparency and efficiency of government programs, reduce the level of corruption, and provide quality services to the population. Successful digital practices in West African countries show that even with limited resources and other economic difficulties, significant results in economic and social development can be achieved. Achievements in the development of these countries expand ideas about the possibilities of modernization in modern developing economies without revising traditional institutional values. The subject of study is the socio-economic spheres of digitalization in developing countries of the African continent. The methods used in the article represent a descriptive - ontological description of digitalization in developing economies, and also apply content and comparative analysis, the method of analogies, methods for visualizing source data and the results obtained in business management research.
Read the full article
Keywords: developing economies of the African continent, digitalization of the economy, digitalization index, digital quality of life, business management
DOI 10.17586/2310-1172-2023-16-3-90-99