DEVELOPMENT OF DIGITAL AND ENTREPRENEURIAL COMPETENCES FOR THE FUTURE LABOUR MARKET NEEDS

This article aims to identify what digital and entrepreneurial competences are required in a concept of New Work orientated labor market. To achieve this, the research takes a two-folded approach by breaking down how digitalisation changes the role of employees in a digital and automated world, which competences and organisational structures are required for a successful adaption of digitalisation in the company and what the digital awareness and the current transformation status in small and medium-sized companies in Bavaria (Germany) and Lithuania looks like. The research methods chosen to deal with a scientific problem in the theoretical part include an analysis of literature sources, systematisation, synthesis, generalisation, and comparison. The status of the research findings shows that digitalisation has arrived in companies, but especially small and medium-sized companies have to overcome various barriers. The focus on employees as stakeholders is crucial to these adaptation processes. Primary research has shown that the employer's and employee's sides have recognized the importance of implementation. Nevertheless, there is room for adjustments. Both sides also need to find their own path to adapt requirements and expectations, to start a successful cooperation. It could help adapt to rapidly changing market trends and link stakeholders via user-friendly technology, just because this technology is created through strategic collaboration activities (Lauzikas, Miliute, 2020).