The 21st century presents unprecedented challenges and opportunities for industrial organizations. Rapid technological advancements, globalization, climate change, major changes in business practices, and shifting consumer expectations, in addition to much bigger, complex, and most importantly, multidisciplinary projects, cause a tremendous impact on how organizations are managed. This article’s contribution primarily focuses on contemporary management, its characteristics, features, and some of its differences from classical management of the 20th century. In the limited space, we describe some important principles on which current management should be built so that companies can successfully face the complex situation in the global market and maintain and strengthen their competitiveness. This article also explores the evolving nature of strategic management in this dynamic context, examining key shifts in strategic thinking, the rise of new strategic approaches, and the critical role of foresight and adaptability.
Litvaj et al. (Mon,) studied this question.
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