Simferopol, Simferopol, Russian Federation
Simferopol, Simferopol, Russian Federation
Simferopol, Simferopol, Russian Federation
JEL H70 General
JEL P25 Urban, Rural, and Regional Economics
The relevance of the research is due to the fact that in the era of the digital economy, innovations are shifting from the creation of individual products to the design of entire business models, ecosystems and institutional formats. Of particular importance is the analysis of innovative strategies that allow firms not only to implement technologies, but to radically change the logic of value creation, rethinking the nature of the asset, cost structure and industry boundaries. The purpose of the study is to reveal the role and mechanisms of innovation of business models and management in the process of digital transformation of the company, with an emphasis on emerging institutional and legal challenges. To achieve this goal, the following tasks are being solved: to analyze the innovative potential of platform models and ecosystems as growth drivers; to explore data as an innovative asset generating new economic effects and sources of competitive advantage; to assess how innovations in cost structure and industry convergence redefine the strategic space for a company.; identify legal barriers and incentives for institutional innovation in the digital environment. The methodology includes an institutional approach, comparative analysis and modeling, which allows us to explore digital transformation as a process of systemic innovation. The results show that the key innovative drivers of a modern company are: 1) the transition to platform logic, where innovation consists in designing network effects and rules of interaction; 2) turning data into an innovative asset with increasing returns, requiring innovative approaches to management and monetization; 3) radical innovation in the cost structure, allowing unprecedented business scale. It has been revealed that the success of innovative strategies depends on a firm’s ability to overcome institutional and legal barriers related to monopolization, data protection, and outdated industry regulation. The practical significance lies in the development of recommendations for the formation of innovative strategies adapted to the new digital reality, and proposals for the modernization of the legal framework to stimulate breakthrough innovations in the economy, as well as the introduction of an integration approach to managing cross-functional risks of digital transformation.
digital transformation, innovation strategy, innovation of business models, platform economy, data as an innovative asset, ecosystem, industry convergence
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