Authors: Sarkar. S, Erochkina. O.A
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. 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.
