THE CHALLENGES FACING NATIONAL ECONOMIES IN THE CONTIDIONS OF GLOBAL CHANGES

Poreska uprava Brčko distrikt, Bosna i Hercegovina
Bosnia and Herzegovina

JU Ekonomska škola Bijelјina, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina


Abstract

In the conditions of globalization, national economies are facing numerous challenges. It is considered that this process leads to economic growth, a range of additional positive effects are to be expected as well. The development of modern informational and communicational technologies is closely connected with the process of globalization which changes all significant areas of life and work, by affecting a companies' business, managing them, mutual communication, etc. All above mentioned has an impact on the national economy, on the prospect of new possibilities, but it might cause some new challenges as well. The productivity, flexibility, connectivity, and the use of modern informational and communicational technologies are the cornerstones that are taken into consideration when discussing effects on the national economy. The basic areas which influence the national economy are production, business models, and the workforce market.

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