The Role of Management Methods in Economy 4.0

Abstract

This article starts with a presentation of the conditions and a definition of the dimensions that affect the choice of management methods. Next, the author attempts the particularization of a method to solve the research problem through proposing a detailed procedure of selecting management methods for a specific stage of economic development. The next part of the paper tries to define the application of management methods for a specific stage of the development of the economy currently featuring economy 4.0. The thesis is assumed that for each stage of economic development it is vital to evaluate and prioritize management methods, and example solutions of the research problem for economy 4.0 are presented. The final part of the paper discusses the directions of perfecting management methods within the limits of the perspectives for further development of the economy, for example towards achieving the character of economy 5.0.