GLOBALIZATION OF THE WORLD ECONOMY AND CHANGES IN THE ORGANIZATION AND MANAGEMENT
Authors: Stojanović Suzana 
Published: August 2019

Changes in the world market of the operations in all companies are constant. The survival on the market of each company depends on the level of flexibility to adapt to all the changes that occur. In addition to the changes, what is important to the environment in which businesses operate and gain their competitive advantage is globalization. The world becomes a "global village" where there are no obstacles in communicating between people who are from two different world sides. There are no barriers to competition, even if they are not physically located on the same market. There are countless opportunities to increase competitiveness and profitability. In the last two decades, globalization has been attracted special attention by scientists, based on its great influence on the development of global finance and financial markets, the expansion of knowledge through improved communication conditions, the expansion of multinational firms and the decentralization of economic activities within and between firms, the development of global oligopolies and the reduction barriers to trade and investment. Globalization requires the transformation of human identity in terms of the knowledge and skills it possesses. Apart from the necessity of applying and changing the knowledge and skills of people working within a particular organization, changes in the domain of the organization and management itself should be made. Globalization and modern organizational structures are assumed to have the use of information communication technologies, the independence between individual units that can be spatially dislocated, the structure is often non-hierarchical and the only thing that is certain is that all units act in accordance with the same goal. Such organizations have the structure of networks or neurons - they are all interconnected with everyone. Physical distance here practically does not exist because of the development of Internet and multimedia conferences that facilitate business and reduce the time needed for work and labor costs. In order for a company to be successful, besides selecting the best form of organizing business processes, it has to be known how to use business information, both internally and externally. Company has to be aware that the implementation of new technological developments directly affects the ability to use large amounts of information. For this reason, modern companies are continually reorganizing their business in line with technology development. Information and communication technologies enable the creation of the infrastructure needed to manage business knowledge and which is a precondition for the creation of the learning organization. It enables employee’s knowledge to circulate more easily through the organization, to upgrade his knowledge and to deliver positive business results.Keeping that in mind, the changes in the world economy and its impact on business and management in the whole world, any scientific dealing with these topics and the essential consideration of the causes and consequences of the same and their trends and trends that are still expected in our everyday life and business is of great importance for all managers and future managers who, through good information and understanding of modern processes, will be able to make regular, efficient and effective decisions on daily basis, successfully manage people and achieve their goals.