Subject The article investigates changes in business environment that are caused by the formation of a new technological mode and have impact on the construction of new models of organizational development and the work of managers. Objectives The goal is to review specific features of transformational changes in the business environment and challenges that managers should address as digital economy develops. Methods The methodology of the study draws on exploration of changes in the economy as the innovation environment evolves, and the analysis of currently observed trends related to the transition to a new stage of development. I apply methods of generalization, comparative analysis, theoretical modeling, induction, and decomposition. Results The paper presents an organization’s competitive ability formation model that rests on requirements of the external environment. It also systematizes new challenges in the work of managers, which arise under new technological mode. Conclusions To perform a better analysis of data and prediction of changes in the fast-paced global markets, it is important to develop and use business analytics and business process modeling in many economic sectors to support the work of organizations in real-time mode. The ideas of the paper may be useful for executives creating a strategy of their organization development.
Keywords: innovative development, technological mode, digital economy, business analytics