Adapting European companies' business models to the digital economy: challenges and opportunities

Abstract

This article discusses the challenges and opportunities associated with adapting European companies' business models to the digital economy. The introduction of information and communication technology (ICT) has transformed the global business landscape, necessitating innovation and flexibility from companies. The focus is on the need to diversify business models, integrate new technologies, and develop hybrid approaches such as network orchestrators and technology creators. The article provides examples of successful adaptation by companies in various sectors, including retail, automotive, media, and healthcare. Financial and regulatory aspects of digital transformation are considered, emphasizing the importance of strategic vision and investments in skills and technology development. The conclusion highlights that adapting to the digital economy offers significant competitive advantages and opportunities for sustainable growth