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Blace Department, Academy of Vocational Studies Southern Serbia Serbia
Blace Department, Academy of Vocational Studies Southern Serbia Serbia
Blace Department, Academy of Vocational Studies Southern Serbia Serbia
Digital revolution and globalization have drastically been changing the way people think, behave and communicate with one another, as well as their way of functioning and performing business. The new way of creation of knowledge, education and information distribution has changed the economic and business practice on a global level. Interdependence of the market business and technological progress represents the most prominent driving force with practically inexhaustible potential. Although still at the very beginning, information and communication technologies represent the base, infrastructure of the digital revolution. An effective integration of the existing business and information solutions by the application of the standardized basic information technologies (XML-exXtensible Markup Language, Web services) notably reduces the investment risks and increase company competitiveness, fulfilling the growing demands of customers. Yet, the already proclaimed need for adjustment of information and communication technologies with business cannot adequately answer to all the challenges of global economy. One of the goals of this paper is a perception and systematic analysis of the challenges, characteristics and principles of the digital transformation in global economy. The digital transformation of business nowadays is not an option, but the only alternative of a long-term survival and improvement of companies.
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