University of Kragujevac , Kragujevac , Serbia
Beogradska akademija poslovnih i umetničkih strukovnih studija, Beograd, Republika Srbija , beograd , Serbia
University of Novi Sad , Novi Sad , Serbia
Univerzitet Union Nikola Tesla , Belgrade , Serbia
In this paper, the authors deal with the analysis of the role of new knowledge and skills of employees in organizations within the existing economic conditions. Changes on the global market, which are characterized by a new business philosophy in which advanced technology, global recession and new competitive relationships affect businesses across countries, contribute to sustainable business. Sustainable business provides businesses organizations with solutions for all new market challenges. The authors of this paper focus on sustainable business, the key role of knowledge and skills of competitiveness, and consider suggestions and guidelines for domestic companies in the context of industry 4.0, societies of 5.0 and competitiveness. The key factor that determines the new organization management model in the global economy is knowledge, as well as the speed of adaptability to business changes. In addition, new business skills are increasingly gaining importance.
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