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Technological Factors and Management Transformation in Social and Economic Systems

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  • Kh.Sh. Mullakhmetov

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.

Suggested Citation

  • Kh.Sh. Mullakhmetov, 2018. "Technological Factors and Management Transformation in Social and Economic Systems," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 230-241.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:3:p:230-241
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    References listed on IDEAS

    as
    1. Richard A. Bettis & Michael A. Hitt, 1995. "The new competitive landscape," Strategic Management Journal, Wiley Blackwell, vol. 16(S1), pages 7-19.
    2. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    3. Khanif MULLAKHMETOV, 2015. "Some Approaches to the Development of the Management Control Concept," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 6(1), pages 128-137.
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    More about this item

    Keywords

    adaptation and transformation in management; balancing stability and flexibility; technological factors; knowledge technology and machine technology; modern business environment.;
    All these keywords.

    JEL classification:

    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • O - Economic Development, Innovation, Technological Change, and Growth
    • D - Microeconomics

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