Technological Factors and Management Transformation in Social and Economic Systems

Kh.Sh. Mullakhmetov
European Research Studies Journal, Volume XXI, Issue 3, 230-241, 2018
EOI: 10.11214/thalassinos.21.03.017

Abstract:

Today, a rapid, interconnected change in a large number of factors that have a significant impact on development of enterprises makes uncertainty an ongoing reality of management. As a key driver of change, new technologies enter new areas of life; global market, common information space, and reduction in product life cycles enhance competition and demand new higher standards from enterprises and their staffs. Development of management theory and practice does not meet the requirements set by the business environment. Transformation of management and its basic subsystems becomes a recognized need. Effective management in contemporary business landscape involves a combination of flexibility and adaptability, which does not exclude a certain level of stability as a pre-requisite to obtain competencies. Therefore, from a strategic point of view, the main task of modern management is to find a balance of stability and flexibility, that will make an effective management real. "What" needs to be done is shown in studies in a consistent manner. At the same time, "how" to do that is mostly described in general words. The author believe that one must answer the "why" question first: an understanding why we should change, i. e. what factors affect transforming management of economic and social systems, and how they do that is an initial stage of successful adaptation the existing management concepts and practices. The article describes the characteristics of impact of technological factors on the management, which makes the change processes controllable and improves the management effectiveness.


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