DIGITALIZATION AND ITS IMPACT ON THE STRATEGIC PLANNING OF THE ENTERPRISE
Abstract
In the era of unprecedented digital transformation, businesses and economies worldwide are navigating the complex terrain of the digital landscape. This publication delves into the theoretical underpinnings of strategic planning within this new paradigm, where digitalization has become the driving force for change. The profound impact of digitalization on contemporary economies and businesses necessitates a comprehensive exploration of the theoretical aspects of strategic planning in this new context. This publication seeks to elucidate the theoretical foundations that underpin strategic planning in the conditions of the digital economy. It’ll provide a nuanced theoretical understanding of how digitalization has altered the fundamental principles of strategic planning. The publication will also identify and analyze the challenges and opportunities that organizations encounter when formulating and executing strategies within the digital economy. This publication employs a mixed-methods research design to investigate the theoretical aspects of strategic planning within the context of the digitalization of the economy. The combination of empirical-theoretical, scientific abstraction, deduction, and data collection and analysis allows for a comprehensive understanding of the multifaceted dynamics in the digital age. The publishing systematically and comprehensively analyzed modern strategic planning aspects which appeared at the request of digitalization of the economy to highlight the theoretical foundations underpinning strategic planning. These results may have implications for organizations seeking to thrive in the digital economy and contribute to the evolving body of strategic literature. This research introduces novel insights into the theoretical aspects of strategic planning within the digital economy. It bridges the gap between traditional and digital strategies, emphasizes customer-centricity, data-driven decision-making, agility, and innovation, and provides empirical support for the theoretical constructs explored. These contributions enhance our understanding of how organizations can adapt and thrive in the digital age. The practical significance of this research lies in its ability to guide organizations, policymakers, and professionals in harnessing the theoretical foundations presented in the study. By embracing data-driven decision-making, customer-centric strategies, agility, and innovation, organizations can enhance their strategic planning processes and achieve success in the digital age.
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