THE TRANSFORMATION OF BUSINESS MODELS AND MARKETS IN THE ERA OF INTERNET AND ELECTRONIC BUSINESS UDC 004.738.5:339

The focus of this paper is the transformation of the business model of companies that ensues due to the application of information technology and the transition from traditional to electronic business. A growing number of companies today realize that the transformation of their business models and processes is no longer optional, but necessary in order to survive and remain competitive on the markets which are increasingly becoming electronic and whose functioning is increasingly based on the Internet. The subject matter of this research is the transformation of the business model and using the potential of the electronic market, as well as models of electronic markets. Even though the process of transformation from traditional to electronic ways of business is inevitable, it is considered risky and unpredictable, so it is especially significant to explore the managing of the main aspects of changes that occur in the company. The goal of this paper is to analyze the changes in a company that relate to business models, the factors influencing the changes of the business model, with a focus on technology, the potential of electronic markets and online business models for e-commerce. The key issues that the research seeks to solve are the goals, the tasks and the purpose of the changes, as well as the ways of implementing them and the segments that experience change. The paper also points out the management problems and challenges that companies face due to the transition to electronic business, especially regarding management problems related to the changes.