Changes in the international business environment and innovation and investment behavior of companies in a pandemic crisis

Olha Shkurupii, Tatiana Deyneka, Iryna Zahrebelna, Olha Dyvnych


Introduction. The formation of the international business environment is influenced by crises, including the current pandemic crisis in the economy and society, and the way out of this (the current "new normality") should be sought in the application of innovations and funding opportunities. Innovations determine the opportunities for further development of both business entities and the world community as a whole.
Goal. Study of innovation and investment behavior of companies in the current state of the international business environment, which manifests itself in a pandemic as economic downturn and destruction of market relations due to extreme instability of commodity, resource, money markets and structural deformation of relations between them. at the national and supranational levels.
Methodology. The research was conducted through analysis and synthesis to study changes in the international business environment and innovation and investment behavior of companies in a pandemic crisis; tabular methods for visual presentation of the material.
Results. It is shown that the international business environment has changed the pandemic crisis, comparable to the global financial and economic crisis of 2008. They differ primarily in the cause - uneconomic in the first case and economic in the second; combines - non-cyclical nature of origin and the systemic nature of destructive changes in the economy and society. It was found that the challenges and problems of the pandemic crisis have forced organizations to rethink approaches to doing business and the rapid introduction of innovations such as artificial intelligence, blockchain, Internet of Things, process automation tools. The need for digital transformation of business is emphasized, which is an innovative strategy incorporated into the overall long-term development plan of the company, which determines the content of corporate, functional, competitive strategies. It is proved that the preconditions for the spread of digitalization in the activities of other entities are created through the digital strategy implemented by the initiating company - through its relationships with customers, suppliers, competitors. The scenario of recovery of the world economy according to UNCTAD is considered. It was found that the most difficult thing for the transformation of business in a pandemic crisis is to raise funds for innovation. Companies suffer heavy losses, which significantly limits investment.


international business environment; innovation; investment; digital business transformation; pandemic crisis strategy

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Science Works Journal "Ekonomichnyy analiz"

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