CORPORATE BUSINESS IN THE DIGITAL ECONOMY-AN INTEGRATED MODEL OF STRATEGIC DRIVERS IMPACT ON FIRM PERFORMANCE
DOI:10.5937/etp2504022C
Keywords:
digital transformation, competitiveness, ESG sustainability,, corporate finance,, SMEs, integrated modelAbstract
In the context of the digital economy, traditional
sources of competitiveness are undergoing transformation,
necessitating a transition to integrated management models. The
aim of this paper is to conceptualize a model that links key
strategic drivers—quality, innovation, digital transformation,
ESG sustainability, and resilience—with the business and
financial performance of firms. The subject of the paper is the
theoretical consideration and modeling of the relationships
between these strategic drivers and their business and financial
performance. The possibilities for the internationalization of the
SME sector through digital marketing and the automation of
financial functions are explored. The paper identifies
macroeconomic shocks and institutional quality as key external determinants shaping the model's success in a transitional
environment. The proposed integrated model suggests that
competitiveness acts as a key mediator, linking traditional values,
such as quality, with contemporary imperatives of digitalization,
ESG sustainability, and resilience, transforming non-financial
inputs into stable business and financial performance. The paper
identifies the digitalization of financial functions and strategic
digital marketing as key mechanisms for the internationalization
of the SME sector, emphasizing that, in the institutional
environment of Serbia, sustainable performance is achieved
through the synergy of technological automation and the
proactive use of support programs for ESG transformation.
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