TRENDS IN THE OPERATION OF INTERNATIONAL BUSINESS IN A GLOBAL COMPETITIVE ENVIRONMENT
Abstract
The article is devoted to the study of current trends in the functioning of international business in a global competitive environment. The relevance of the study is due to the fact that competition in the world economy acts as a fundamental mechanism for the development of economic relations, stimulating increased production efficiency, innovation and quality of goods and services. The purpose of the article is to investigate the main trends in the functioning of international business in the context of the general intensification of global competition, the challenges that accompany the activities of international enterprises and the prospects for adapting to them. Analysis and synthesis of scientific information on the trends in the development of international business in the context of global competition served as the methodological basis of the study. The transformation of international business in the context of globalization is analyzed. The focus is not only on the advantages of globalization for the activities of international business entities, but also on the challenges it creates. Trends that characterize the current state of functioning of international business have been identified. Among them, digitalization, ESG approach, implementation of the concept of sustainable development, creative economy and activation of innovation processes are highlighted. Sustainable development and responsible corporate governance cease to become the strategic basis for the successful functioning of business in the context of global competition. Digitalization tools contribute to the optimization of financial management, data processing and interaction with clients. Particular attention is paid to the importance of digital platforms in conducting international business. Sustainable development is becoming a strategic basis for the successful functioning of business in the conditions of global competition. The challenges faced by international business in modern conditions are considered. It is noted that in the future a new paradigm of international business will be formed.
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