Ionela Petruta Stanca – National Institute of Research Development and Testing in Electrical Engineering, Craiova, Romania
Tudor Tarbujaru – University of Craiova, Craiova, Romania
Keywords: Modern management;
Abstract: The 21st century was marked by countless changes and upheavals around the world that very much revealed a new age. This era of fast, sudden, and omnipresent change has serious implications for our future. In today’s fast-paced world, each organization needs new tools and methods to strengthen its effectiveness. Strong competition in the worldwide marketplace requires organizations to figure out ways to be competitive. Competitive advantage is achieved only by organizations that are ready for extreme changes and employ techniques and concepts of non-stop improvement. In order to obtain a competitive advantage, the context of continuous quick globalization, change, and development drives fresh ideas about the modes of activity and roles of organizations. One of the most crucial human activities is management. Since the beginning of time, when humans formed social organizations to achieve goals and objectives that they could not achieve as individuals, management played a vital role in ensuring that individual efforts were coordinated. What is now happening compels managers to employ more modern, contemporary techniques and manners of management to meet current issues. New management strategies, such as a process-oriented approach, are necessary. Modern management is the foundation for creating a successful, market-competitive organization. To answer these issues, the study will focus on analyzing management theories and particular elements that separate today’s management from previous eras. Therefore, managers in modern businesses must recognize the critical role they play in helping their organizations accomplish their objectives. For this goal to be achieved, it is vital to apply modern achievements and technology in organizational management. Our paper’s purpose is to demonstrate how management has grown up in an ever-changing organizational environment. To solve these challenges, researchers need to broaden and expand their attention to the process approach as a way of enhancing the organization’s management system and developing recommendations for maximizing crucial business processes. These events have had an impact on the organizational world, and it is up to management to refresh, modernize and rise to face the challenges.
8th International Scientific ERAZ Conference – ERAZ 2022 – Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, Online-Virtual (Prague, Czech Republic), May 26, 2022
ERAZ Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia
ERAZ conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; AMBIS University, Prague – Czech Republic; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia
ERAZ Conference 2022 Conference Proceedings: ISBN 978-86-80194-60-8, ISSN 2683-5568, DOI: https://doi.org/10.31410/ERAZ.2022
Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.
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