Business transformation in the digital economy: the foreign approach and Russian opportunities

Introduction. The trend of digital transformation of business that has emerged in recent years is gaining the status of a basic condition for the effective development of the Russian economy. In this regard, the focus of research interest is on the readiness of companies to use Industry 4.0 technologies, as well as issues of risk management and business digitalization opportunities. The purpose of the study is to analyze and systematize the foreign experience of digital transformation in order to assess the prospects and limitations of the transition of Russian enterprises and organizations to Industry 4.0, as well as the options for overcoming them in the framework of corporate strategies for sustainable development. Materials and Methods. The authors carried out statistical processing and critical analysis of the opinions of Russian business people about their level of awareness and vision of the risks, opportunities, and limitations of the use of Industry 4.0 technologies in Russian management practice. The initial statistical data were collected as part of a survey using the Google Docs service. Data processing was performed using the concordance coefficient, the Pearson’s chi-squared test, and the Cramér-von Mises criterion. Results. The authors have corroborated the hypothesis that in the digital economy, the speed of response to global risks, the effectiveness of measures to reduce their negative impact on business results depends on the scope and innovation focus of the enterprise. At the same time, a statistically significant relationship has been revealed between the attitude of Russian enterprises to Industry 4.0 technologies and their willingness to accept the benefits and advantages associated with them. The authors have refuted the hypothesis that there is a connection between the level of influence of the key barriers to the digital transformation of Russian business and the attitude of enterprises to Industry 4.0 technologies. On the basis of generalized foreign experience, the authors have proposed options for resolving the existing contradictions in the industrialization of Russian business. Discussion and Conclusion. The results of the study have corroborated that the Russian economy faced the same problems and limitations as most countries of the world on the way to transition to a digital society. Overcoming them is possible only through joint efforts of governmental structures, the business community, and social institutions. The research results can be used by federal and regional authorities to promote the National Program “Digital Economy of the Russian Federationˮ and the National Technology Initiative.