EKONOMIJA NOVOG DOBA
ECONOMY OF THE NEW AGE

Summary/Abstract: Digitization, innovations and communication technologies that are present in today's world are the reason for changing the strategy of economic growth from the traditional form to the economy of the new age. With the transition to digitalization, in the economic area, spatial distance is no longer a limitation in work, communication, production, sales and business. Information, innovation and ideas are factors of new value creation that replace "mass production" with "mass personalization" of market needs. The motives of the digital economy are the reduction of business costs, more efficient management, increased access to larger markets, greater productivity and business effectiveness. The aforementioned motives are factors that will lead to smart production and digitalization itself. The economy of the new age will achieve higher incomes, less bureaucracy, a greater volume of information, and most importantly, it will lead to greater employee motivation, but also an increased number of satisfied customers.

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