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The Influence of the Strategic Development of Modern Technologies on the Factors of Competitiveness and Economic Growth

Author

Listed:
  • Nikolic, Milos
  • Vesic, Tamara
  • Cogoljevic, Maja

Abstract

In today’s time of modern business, where the most important environment or competition, which is increasingly specific to the globalization of markets and economic regulation, we can say it is unsuccessful without the use of digital technologies and the Internet. Powerful competition can bring significant benefits to consumers, taking into account that manufacturers are superior in terms of product quality, prices, service delivery, warranty period, deferred payment and various other bonuses to attract as many customers as possible to their product or service. The subject of research is the influence of the Internet and digital technology on the development of competitiveness. The key competitiveness factors of the companies on the market are current competitors, potential competitors, substitutes, customers and suppliers. These factors actually represent Potter’s model of five forces, and they will be further elaborated below, each individually.

Suggested Citation

  • Nikolic, Milos & Vesic, Tamara & Cogoljevic, Maja, 2019. "The Influence of the Strategic Development of Modern Technologies on the Factors of Competitiveness and Economic Growth," Ekonomika, Journal for Economic Theory and Practice and Social Issues, Society of Economists Ekonomika, Nis, Serbia, vol. 65(1), March.
    • Handle: RePEc:ags:sereko:290227
    DOI: 10.22004/ag.econ.290227
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