CONTEMPORARY CHALLENGES OF TRANSFORMATIONS AND CHANGES IN BUSINESS

Abstract

In the article - "Contemporary challenges of transformations and changes in business" - the views of various scientists (Moran, Brightman, Jones Gumming and others) on the essence of transformations are first characterized, and then - the need for transformations in companies and the challenges they face in today's digital environment is discussed. The article states that many changes have taken place in the world in the last decade, but the most important among them was (and is) digitalization of business and economy, which practically changed the world and required a change in people's thinking. People born in the 21st century, who are called "digital natives", could easily adapt to this innovation, but those born in the previous century, who are called "digital immigrants", could not adapt. Nowadays, 95-98% of managers employed in business are "digital immigrants". They find it difficult to drive digital transformations because they can't change their mindset. Total digitization of business requires generational change. The article also discusses a number of ongoing transformations, which seem to be not difficult to implement, but managers avoid it due to fear of failure. The author of the article advises them to get acquainted with the ADKAR model for this purpose, through which they will successfully carry out transformations. Keywords: changes; transformations; digital challenges; ADKAR model.