Transformations  in
Business & Economics

DIGITISATION PROCESS AS A COMPETITIVENESS DEVELOPMENT FACTOR IN V4 COUNTRIES ¹
Eva Ivanova, Marcel Kordos, Silvia Struharnanska, Valentinas Navickas

ABSTRACT: This research paper is devoted to the analysis of the circumstances of how the digitisation process in small and medium enterprises (SMEs) will affect their competitiveness and to identify and assess the digitisation issue as a competitiveness development enhancement factor of SMEs in V4 countries. The main objective of the research is to estimate the impact of the digitisation process on competitiveness development and whether and how the implementation of digitisation would enhance the competitiveness of SMEs in V4 countries within the international business in Central Europe. The estimation is based on the World Bank, IMD, DESI, EIS data assessment approach. The main method used is the panel regression analysis along with a graphical explanation. The results have indicated that to fully benefit from digitisation, SMEs must strategically invest in digital tools and develop digital skills within their workforce. The ability to adapt to and leverage digital technologies will be a key determinant of success in the increasingly digital business landscape.

KEYWORDS:  : digitisation process, smart business, small and medium enterprises, international business, development sustainability.

JEL classification:  F66, F22, J62.

¹Acknowledgments:  This paper was supported by the Slovak ministry of education’s scientific grant agency Vega: "Smart solutions and their impact on the socio-economic development of regions in terms of Agenda 2030”. Project registration number: [reg. No.: 1/0396/23].