INNOVATIVE FORMS OF INTERNATIONAL BUSINESS IN THE CONDITIONS OF GLOBALIZATION

Abstract

In the current conditions of globalization, Ukraine is becoming an active player in the global market of goods and services. The article focuses on the study of theoretical elements of the development of innovative forms of international business. A variety of theoretical approaches to defining the essence of the concept of "international business", which allowed to clarify the concept of international business, which is considered as the interaction of two or more enterprises of different forms of ownership or their units located in different countries, each with specific economic, legal , socio-cultural, political, ideological, natural-climatic and geographical environment, which leads to more efficient use of resources and such interaction which is based on entrepreneurial activity for profit. Modern international business reveals a high level of organization, complex, diverse and flexible management systems that effectively carry out economic activities at the global level. 2020 marked the beginning of the global economic crisis due to the COVID-19 pandemic. This crisis is currently the worst in 10 years. As a result, most economies around the world are in dire straits. All the world's economies experienced a record drop in GDP in the second quarter of 2020, which was more significant than it was during the global economic crisis of 2008. The main forms of international business are determined and the prospects of their development in modern conditions are characterized. The essence of the concept of "innovative forms of international business" is defined, they are traditional forms that are transformed and acquire new qualities due to the influence of globalization, internationalization processes. The general tendencies of business development depending on the changes brought by a pandemic are presented, and also attention is paid to features of influence of knowledge, innovations and information on the given sector of business. Proposals for ways of adaptation and changes in the industry for further existence were presented, as well as possible solutions that will help international business to sustain and develop in the future.