Information systems and their role in the innovative management of economic processes in foreign economic activity

Authors

DOI:

https://doi.org/10.65026/te422d51

Keywords:

foreign economic activity, information systems, innovative management, digital ecosystem, ERP, international trade digitalization

Abstract

The article investigates the transformative role of Information Systems (IS) in the management of foreign economic activity (FEA). As international trade becomes increasingly complex and data-driven, the ability to effectively manage information flows determines the competitive position of an enterprise. The study analyzes the theoretical foundations and practical applications of digital tools, ranging from ERP systems to Blockchain and AI analytics. Using bibliometric analysis and process modeling, the author proposes a classification of IS based on their strategic impact: transactional, managerial, and strategic. The paper introduces the concept of an Integrated Digital Ecosystem for FEA (IDE-FEA), a model that unifies internal operations with external global stakeholders (customs, logistics, banks). The results demonstrate that implementing such ecosystems allows for a shift from reactive to proactive innovative management, significantly reducing operational risks and enhancing decision-making efficiency. The findings offer a practical roadmap for enterprises aiming to modernize their foreign economic strategies in the Industry 4.0 era

Author Biography

  • Dmytro Vasylkivskyi, Khmelnytskyi National University

    Doctor of Economics, Professor  of International Economic Relations Department, Khmelnytskyi National University, Khmelnytskyi, Ukraine

References

[1]. Chaffey, D. (2019). Digital Business and E-Commerce Management. Pearson.

[2]. Kothari, C. R. (2004). Research Methodology: Methods and Techniques. New Age International.

[3]. Laudon, K. C., & Laudon, J. P. (2020). Management Information Systems: Managing the Digital Firm. Pearson.

[4]. OECD. (2019). Unpacking E-commerce: Business Models, Trends and Policies. OECD Publishing.

[5]. Porter, M. E., & Heppelmann, J. E. (2014). How Smart, Connected Products Are Transforming Competition. Harvard Business Review, 92(11), 64–88.

[6]. Saunders, M., Lewis, P., & Thornhill, A. (2019). Research Methods for Business Students. Pearson.

[7]. Turban, E., Pollard, C., & Wood, G. (2018). Information Technology for Management: On-Demand Strategies for Performance, Growth and Sustainability. Wiley.

Title_May_2024

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Published

2024-05-20

Issue

Vol. 3 No. 2 (2024)

Section

Articles

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Copyright (c) 2024 Dmytro Vasylkivskyi (Author)

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This work is licensed under a Creative Commons Attribution 4.0 International License.

All articles published in the International Journal of Economics and Society (IJES) are licensed under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0).

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