ANALYSIS OF THE USE OF BLOCKCHAIN AND SMART CONTRACT TECHNOLOGIES FOR MANAGEMENT AUTOMATION AND ENSURING BUSINESS RESILIENCE

Tetiana Kulinich; Svitlana Dzhereleiko

doi:10.32782/2786-8559/2024-5-10

Tetiana Kulinich Lviv Polytechnic National University https://orcid.org/0000-0003-0110-7080
Svitlana Dzhereleiko Khmelnytskyi Cooperative Trade and Economic Institute https://orcid.org/0000-0002-4018-2481

DOI: https://doi.org/10.32782/2786-8559/2024-5-10

Keywords: business, data protection, transparency and openness, remote collaboration, strategy

Abstract

Increasing competition, the need to enhance efficiency and transparency of business processes, as well as the requirements to ensure the security and reliability of operations, demand new tools and approaches for automating management and ensuring the sustainability of the enterprise. Currently, it is blockchain and smart contract technologies that are opening up vast opportunities for this. Therefore, the research is aimed at a comprehensive analysis of the features and directions of using blockchain and smart contract technologies for automating management and ensuring the sustainability of the enterprise. Within the research, it has been proven that the use of blockchain and smart contract technologies creates a flexible and secure process for developing conditions and strategies that allow an enterprise to function effectively and remain capable of ensuring its own progressive development even in conditions of high stochasticity, economic turbulence, or crises. It is concluded that among the main directions where the use of blockchain technologies for ensuring enterprise resilience is worthwhile, the following should be highlighted: supply chain management, balanced management, security management, and basic risk management, as well as managing relationships with customers and partners. In unity, these outlined directions establish the principles of automating enterprise management, enhance its ability to function effectively, and direct its progressive development. It is concluded that among the main directions where the use of smart contracts for ensuring enterprise resilience is beneficial, the following should be highlighted: access and security management, remote tracking of resource utilization, automation of production and commercial processes, improvement of customer service, and management of data processing workflows. In unity, these outlined directions establish the principles of enterprise management automation, guiding and expanding the enterprise's capabilities for progressive development. In the context of ensuring enterprise resilience, the goal of applying smart contracts and blockchain technologies can vary. However, the use of these outlined technological solutions should guarantee the enterprise's ability to withstand external and internal influences.

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