Identifying and Assessing Digitalization Risks and Their Impact on the Company’s Viability

Scientific Conference on Economics and Entrepreneurship SCEE '2023: Organized within the 64th International Scientific Conference of Riga Technical University: Book of Abstracts 2023
Aļona Bahmanova, Nataļja Lāce

Digitalization, as a process of transformation of business activities, facilitates increasing operational efficiency, developing innovations and rapid covering of the market. The process of transforming information and daily operations into digital formats benefits competitiveness, productivity and innovations of businesses, on one hand. On the other hand, it poses various risks, such as cyberattacks, data breaches, privacy violations, legal and ethical issues, technological incompatibility and obsolescence. These risks can threaten the sustainability and viability of a business in the long term. This study focuses on the process of identifying digitalization risks. To accomplish a study objective, case studies will be applied. This study aims to provide an overview of the main types of digitalization risks in the business environment.

Keywords
Digitalization risks, Risk assessment, Business viability, Cybersecurity, Digital regulation
Hyperlink
https://www.rtu.lv/writable/public_files/RTU_scee_2023_abstracts.pdf

Bahmanova, A., Lāce, N. Identifying and Assessing Digitalization Risks and Their Impact on the Company’s Viability. In: Scientific Conference on Economics and Entrepreneurship SCEE '2023: Organized within the 64th International Scientific Conference of Riga Technical University: Book of Abstracts, Latvia, Riga, 12-14 October, 2023. Riga: RTU Press, 2023, pp.8-8. ISSN 2256-0866.

Publication language
English (en)