The Technological Ecosystem in the Development of Businesses in a Global Competitive Environment

Abstract

Contemporary businesses develop within diverse, variable, and increasingly dynamic ecosystems. the necessity of advanced technologies in the modern era is immeasurable for the proper development of both society and businesses at a fast and relentless pace. the technological ecosystem at the current stage is the key element contributing to the evolution and expansion of businesses in the global competitive environment, as it enables better data processing, faster movement of financial flows, and cost reduction to the lowest possible level. this, in turn, generates higher profits and facilitates business expansion at the regional level, eventually leading to international growth. CZU: 005.591.6:334.784; JEL: O3, O33