European International Journal of Multidisciplinary Research
and Management Studies
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TYPE
Original Research
PAGE NO.
38-41
DOI
OPEN ACCESS
SUBMITED
08 January 2025
ACCEPTED
20 February 2025
PUBLISHED
13 March 2025
VOLUME
Vol.05 Issue03 2025
COPYRIGHT
© 2025 Original content from this work may be used under the terms
of the creative commons attributes 4.0 License.
Development of Private
Entrepreneurship in The
Digital Economy
Kurbanova Firuza
Student, Karshi State Technical University, Uzbekistan
Abstract:
The article highlights the fact that the
development of industrial sectors in the digital economy
is one of the current topical issues, and that the digital
economy has broad potential for the development of
sectors based on new technologies. It is shown that the
relationship between important factors for increasing
the economic efficiency of industrial sectors is
significant. Formulas for calculating production
efficiency and labor productivity indicators are
presented to increase the efficiency of industrial
enterprises.
Keywords:
Digital economy, digital technologies,
potential, economic efficiency, IoT technologies,
artificial
intelligence,
cybersecurity,
production
efficiency, labor productivity, strategic planning,
industrial strategy, clustering theory, integrated
approach.
Introduction:
In the digital economy, digital
technologies are creating great opportunities to
improve the efficiency of industrial sectors, ensure their
competitiveness, and support sustainable economic
growth. One of the main trends today is the
development of industrial sectors.
In the digital economy, the digitization of industrial
sectors allows for the automation and increase of
production processes. With the application of digital
technologies at all stages of production, the use of
artificial intelligence and automation tools accelerates
production processes and reduces errors due to the
human factor. With the help of IoT technologies (IoT
(Internet of Things) - expanding the possibilities of data
collection, analysis and automation through the
digitization of processes within the enterprise),
industrial objects and systems are interconnected, data
is collected and real-time monitoring is carried out,
which allows for more effective management of the
production process. This technology reduces the time
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and Management Studies
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European International Journal of Multidisciplinary Research and Management Studies
and costs of manufacturing complex and customized
products. Increasing the economic efficiency of
industrial sectors in the digital economy is associated
with the following factors:
•
Data-driven decision-making - Through Big
Data technologies, industrial enterprises will be able to
collect production and market data and make quick
and accurate decisions based on their analysis.
•
Cost optimization - Digital technologies help
reduce production costs by ensuring efficient use of
resources.
•
Supply Chain Optimization - Digital platforms
enable efficient management of global and local supply
chains, increasing the ability to deliver products faster
and more cost-effectively.
LITERATURE REVIEW
Also noteworthy are the works of scientists
Salaheddine Soummane, Amro M. Elshurafa, Hatem
Alatawi, Frank A. Felder, who conducted scientific
research on industrial production and its assessment,
and proposed using the national optimization model of
Saudi Arabia to assess the consequences of the
industrial
sector.
They
determine
the
cost
consequences of shifting fuel consumption, emissions
and industrial loads from one season to another
without changing industrial electricity tariffs and
production levels. O.V. Bakanach and K.V. Gauss
consider the issues of increasing industrial potential
through the competitiveness of enterprises and the set
of all related processes. A.V. Bystrov, A.R. Yesina, V.D.
Svirchevsky consider that failures in industrial
dynamics are not due to the influence of exogenous
factors and random failures, but to problems in the
country's
industrial
development
management
system. That is, the sectoral structure of the industry is
the main factor determining the level of its economic
and social development, and the changes observed in
the industry.
RESEARCH METHODOLOGY
The digital economy enables the development of
industries based on new technologies. This relevance
lies in the fact that the concept of Industry 4.0 involves
the digitalization of production by introducing digital
technologies (IoT, Big Data, cloud computing) into
industrial processes. This creates opportunities for
high-precision and fast production. By creating digital
models of industrial processes, enterprises will be able
to simulate real processes and predict and optimize
problems in them. Systems based on artificial
intelligence will help optimize production processes,
improve product quality and increase labor efficiency.
In the digital economy, the importance of
cybersecurity is increasing, as industrial sectors depend
on digital data and systems. The risk of cyberattacks may
be high during the activities of industrial enterprises.
With the use of digital technologies, databases, systems
and operational processes of industrial enterprises must
be provided with cybersecurity. Ensuring the
uninterrupted operation of systems and protecting
digital infrastructure is one of the pressing problems for
industrial enterprises. The digital economy is also of
great
importance
in
ensuring
environmental
sustainability in industrial sectors.
Using green technologies and digital approaches:
Waste reduction - Digital technologies allow you to
reduce waste by optimizing the production process.
Improving energy efficiency - Effective management of
energy resources is achieved through digital control
systems, which helps reduce energy consumption.
Achieving sustainable development goals - Digital
industrial solutions help businesses comply with
environmental sustainability.
In the digital economy, global markets are constantly
changing, which forces industrial enterprises to be
flexible and competitive. Real-time monitoring of
market needs and requirements and rapid response are
driving the development of digital technologies. Digital
platforms and technologies enhance mutual integration
in international markets, making industrial products
globally competitive. The relevance of developing
industrial sectors in the digital economy is not only
related to increasing production efficiency and ensuring
economic development, but also to solving pressing
problems such as environmental sustainability,
technological innovation and cybersecurity. The
digitalization of industrial sectors creates new
opportunities for enterprises, adapts them to new
requirements of the global market and increases
competitiveness.
It is necessary to develop cooperation between the
state and the private sector in the introduction of
innovative technologies. The state should provide
financial assistance to innovative projects and develop
competitive industrial sectors by supporting startup
projects. To solve market problems, it is necessary to
strengthen market research and marketing strategies.
The following measures can be effective in this regard.
It is necessary to develop strategies for entering new
markets for industrial products and strengthen
marketing.
The international competitiveness of
industrial products can be increased by expanding
export markets. It is necessary to regularly study market
requirements and optimize the production process of
products that meet consumer needs. It is necessary to
take into account environmental problems in the
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European International Journal of Multidisciplinary Research and Management Studies
development of industrial sectors. The following
measures can be taken to solve this. It is necessary to
use environmentally friendly technologies in industrial
enterprises and bring production processes into line
with environmental safety standards. It is important to
introduce energy-saving technologies in industrial
enterprises to reduce energy consumption and
increase energy efficiency. The state should expand
support programs for the development of industrial
sectors. It is necessary to stimulate economic growth
by implementing the state's industrial development
strategies and optimizing them at the regional level.
Economic models, analyses and formulae used in the
scientific
and methodological
foundations of
developing methods for the development of industrial
sectors are used to increase the efficiency of industrial
enterprises, introduce innovations and ensure
economic stability. Below are some formulas widely
used in the development of methods for the
development of industrial sectors and their scientific
and methodological foundations.
To improve the efficiency of industrial enterprises,
production efficiency and resource utilization
indicators are calculated. These formulas are used to
assess the production volume of enterprises, the
efficiency of resource utilization, and the costs of
product production.
Production efficiency (P): P=Y/I
where: P - production efficiency; Y - volume of
products produced; I - total resources used in
production (labor, materials, time, etc.).
Labor productivity (L): L=Y/T
where: L - labor productivity; Y - volume of output; T -
time spent on labor or the total number of workers.
The scientific and methodological foundations for the
development of industrial sectors are a set of concepts
based on extensive scientific research, analysis and
experience, which help ensure the sustainable
development of industrial sectors. These foundations
are based on scientific theories, methods of
introducing innovative technologies, economic models
and strategic approaches. The scientific and
methodological foundations of the development of
industrial sectors are presented below:
1.
Scientific theories and conceptual approaches;
2.
Economic and statistical analyses;
3.
Innovative and technological approaches;
4.
Industrial strategy and public policy;
5.
Strategic planning and management methods.
Several economic and industrial theories are
considered as the basis for the development of
industrial sectors. These theories are used to ensure the
sustainable and competitive development of industrial
sectors:
•
Industrial Economics Theory: The theoretical
foundations of industrial economics are aimed at
increasing economic efficiency, ensuring the proper use
of resources, and ensuring the competitiveness of
industrial sectors. This theory helps to determine
methods for optimizing production costs and allocating
resources.
•
Innovation-based development theory: The
theory of innovation-based economy and industrial
development is based on the widespread introduction
of innovations in industrial sectors and the development
of innovative technologies. In this theory, innovations
are considered an important factor in increasing
production efficiency and ensuring the competitiveness
of products.
•
Cluster Theory: Porter's cluster theory provides
for increased competitiveness through synergy
between closely related enterprises and organizations
in the regional development of industrial sectors.
Clustering helps to specialize industries and strengthen
regional economies.
CONCLUSION
The scientific and methodological justification for the
development of industrial sectors in the digital economy
is based on economic diversification, increasing
competitiveness, technological innovation, social
protection,
environmental
sustainability
and
international cooperation. If these methodologies are
implemented with an integrated approach, long-term
stability and sustainable development of the national
economy will be ensured. The number of manufacturing
enterprises that ensure social stability will increase and
the well-being of the population will increase.
Innovative and technological progress is one of the main
factors of economic stability, which increases the
competitiveness of the industry. International trade and
investment make a significant contribution to economic
stability. Sustainable development of the industry is
facilitated by attracting private investment.
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