Management is an art, where each manager needs to apply his own experience, observation, and creativity to be able to apply the widely used management techniques in order to gain a competitive advantage over others, in today's world, where keywords like mergers, acquisitions, globalization, recession and downsizing are no more new to the management of any organization
Managers today need to successfully realize that because of the introduction of information technology in the market, its wide applicability being accepted worldwide and ever-changing socio-cultural structures, they need to operate not only dynamically with instant decisions spurring up at the spot but also need to introduce the concept of learning organizations into their respective Organizations. Their sole focus needs to be able to overcome any resistance by their subordinates through the new management practices. Because if not done so, it won't take long before their organizations become unstable and volatile. .
Competitive factors and innovations within an industry often require managers to introduce new equipment, tools or work methods. Both technology and socio-cultural factors surrounding the managers are being used to uplift the organization.
Contemporary Changes in Technology:.
"Technology is the combination of resources, knowledge and techniques that creates a product or service output for an organization." 3.
In terms of the general environment, the most rapid changes during the past quarter-century have occurred in technology. The whole area of technology has radically been changing the fundamental ways that organizations are structured and the way that managers manage the work. Managers in the industry are required to learn, practice new technology day-to-day and adapt to changes as quickly as the market requires them to. Their work involves the operation, management and maintenance of sophisticated equipment.
