Digitalization – quo vadis?

Digitalization is changing the global business ecosystem at an unimaginable speed. Although previous industrial revolutions took dozens of years to transform the existing markets, internet-based companies like Google, Amazon and Uber have done it in less than ten years. Business models in the nearest future – how will they look like? Where will the extensive process of the fourth industrial revolution take us? How will our role as entrepreneurs, managers or consumers change in the new business ecosystem? In this paper we consider the changes concerning the process of digitalization as the main prerequisites for transformation of business models. We combine them into three main aspects that influence modern business modeling approaches: technological, social and economic. This prospective gives insight into the way the future business models will look like and leads us to practical recommendations for companies to follow when digitizing their business.