Conceptual Foundations for the Development of International Business Theory in the Context of Increasing Global Technological Dynamism
Danko T. V.

Danko, Taras V. (2022) “Conceptual Foundations for the Development of International Business Theory in the Context of Increasing Global Technological Dynamism.” The Problems of Economy 4:201–213.
https://doi.org/10.32983/2222-0712-2022-4-201-213

Section: Economic theory

UDC [005+658]::339.92

Abstract:
The article aims at elaborating the conceptual foundations for the development of international business theory in the context of increasing global technological dynamism. The article examines the relationship between the increase in technological dynamism in the modern world and the problematic issues in the theory of international business regarding the fragility or terminability of specific advantages of countries and specific advantages of firms that underlie the very basis of the existence of multinational corporations, their business models and, accordingly, their sustainability. The author proposes a comprehensive solution to this qualitatively new problem of international business by addressing the general task of ensuring firm sustainability in the context of increasing technological dynamism in the industry and determining what are the specific advantages of those firms that demonstrate an appropriate level of sustainability and which can be successfully internationalized and continue to compete in world markets in the current environment, despite the disruption of the classical paradigm of international firms. The article explores the evolution of management theories of firm competitiveness in the context of increasing environmental dynamism, which has led to the emergence of dynamic strategic management based on the integration of the theory of dynamic capabilities and the institutional approach with the traditional insrtumentarium for developing and implementing corporate strategies. The substantiation of the conception of specific advantages of global innovation ecosystems in the theory of international business has been further developed. With the practical application of the proposed conceptual framework for the development of international business theory, taking into account the continuous increase in technological dynamism in the modern world is meant to introduce dynamic strategic management tools in the activities of international firms, including the development and implementation of strategies for their participation in global innovation ecosystems.

Keywords: international business, technological dynamism, firm sustainability, dynamic strategic management, dynamic capabilities, institutional approach, global innovation ecosystems.

Fig.: 4. Bibl.: 127.

Danko Taras V. – Candidate of Sciences (Economics), Associate Professor, Professor, Department of Management, National Technical University «Kharkiv Polytechnic Institute» (2 Kyrpychova Str., Kharkіv, 61002, Ukraine)
Email: taras.danko@khpi.edu.ua

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