IZAZOVI TEORIJE BIZNISA I MENADŽMENTA U DIGITALNOM DOBU

Abstract

Peter Drucker, known as the ‘father of modern management’, was among the first authors (1994) to argue that many theories of the business could not be valid on a long-term basis. The transition from industrial to the digital age has ‘forced’ many organizations to adapt to new, digital environment by questioning and transforming their business models and business strategies. Fourth industrial revolution (Industry 4.0) has brought about drastic technological, economic, social, ecological, political, legal/regulatory changes, which have altered the ways of doing business, transformed growth and profitability strategies of companies, and changed the average company lifespan. Based on the literature review and an overview of recent researches and studies (desk research), this paper aims to explore some challenges that companies face during the transition from industrial to digital, and how changing and adjusting the theory of the business is of critical importance for companies in the digital age.