Formation of an Innovative Business Model of a Trade Organization in the Context of Economic Globalization

Abstract

The development of Ukrainian trade organizations in ordinary conditions is characterized by a high degree of inertia. Therefore, when situations that need to change arise, business strategies of market participants also change dramatically. Most often, such transformations are connected with external factors, such as the overall economic crisis, a sharp change in the state “rules of the game” in a particular sector of economic relations, as well as another external factor bond to the occurrence of new serious competitors. The development of organizational and economic mechanism to ensure the innovative development of retail trade, requires comprehensive consideration of internal and external factors of the studied system, the formation of strategies and programs to increase the innovation potential of its participants, their active interaction, increasing the use of innovative technologies, generating ideas and transformations. The article considers the issues related to the impact of business globalization processes on the transformation of business models of trade organizations and their operation strategy, as the degree of trade development indicates the standard of living and the state of the economy and society. The authors of the article suggest that retail organizations adapt to the changes in the macro and micro environment, using innovative components in economic and financial activities, which will ensure their competitiveness and prevent crises. The proposed model of an innovative trade organization allows to identify the goals components of innovation activities, which combine the strategic guidelines of the state regulation and help to improve the economic condition of trade organizations

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“…The development of organisational and economic mechanism for ensuring the innovative development of retail trade requires a comprehensive consideration of internal and external factors of the system under study, the creation of strategies and programmes to increase the innovative potential of its participants, their active interaction, the development of an organisational and economic mechanism for ensuring the innovative de-velopment of retail trade, increasing the use of innovative technologies, generating ideas and transformations (Hrynko et al,2021).…”

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