Modern Management in the Era of Globalization – An Indicator for Dynamic Society Cover Image

Modern Management in the Era of Globalization – An Indicator for Dynamic Society
Modern Management in the Era of Globalization – An Indicator for Dynamic Society

Author(s): Mirko Tripunoski, Fisnik Ferati, Borche Sibinovski
Subject(s): Social Sciences, Economy, Business Economy / Management, Sociology, Management and complex organizations, Human Resources in Economy
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Modern Management; Changes; Challenges; Globalization; Economy
Summary/Abstract: In a modern-global world, the role of the organization is performed by working in a business environment which is a complex structure made up of internal and external elements. Today the functioning and the performances of the organizations are determined by the modern business environment. The information about the trends and the characteristics of today's global business environment are the starting point in the process of decision-making and achieving goals. Through frequent and systematic exploration of the environment, organizations identify their internal strengths and weaknesses as well as external opportunities and threats. By using the information available, the organizations strive to activate their power effectively, thus eliminating the weaknesses and seizing the opportunities, avoiding the obstacles and the external threats. Modern business environment nowadays is changing constantly and rapidly by exposing the organizations to new challenges, such as global competition, rapid technological development, demographic changes, diversification of the workforce and many others. We are witnesses of today’s global economic crisis and the negative consequences it has on all national economies, as well as many organizations, both national and multinational. Within modern dynamic society, the organizations must adapt to the global changes and conditions in this turbulent business environment, because both their success and their existence are depending on it. It is therefore required to apply the modern management practices in the organizations and use the new organizational forms and structural solutions, which are flexible enough as well as adaptable. Modern organizations today are continuously exposed to changes and are increasingly losing the traditional pyramid structure at the expense of the horizontal one. Regardless of the constant changes and challenges, the main bearers of all activities in the business environment are still the humans. With their knowledge, skills and abilities they are an important factor for the implementation and development of the modern management practices.