This paper concerns new tendencies and challenges of the 21 st century that present-day companies have to face under conditions of the digital economy. It presents the core principles of the new version of management "Management 2.0." and argues that digital transformation is the main driving force that can give Russia a new chance to eliminate its technological backwardness and help managers select efficient new business models and development strategies. Studies of the evolution of management concepts over the last decades make it possible to determine the main ideas of efficient management that may be adopted by a 21 stcentury manager. Present-day Russian managers have to make their companies competitive, which is possible only provided a company is changing at the same pace as the outside world and every employee is involved in the process of innovation on a regular basis. The article emphasizes the necessity to consider with the specifics of the Russian mentality that hampers the development of management in the digital economy. It proves that the necessary condition to introduce digital innovations successfully is new organizational forms of companies that encourage their staff to create a real value for their clients.