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Contemporary Management Thinking

出版	SSRN, 2019
URL	http://books.google.com.hk/books?id=1D__zgEACAAJ&hl=&source=gbs_api

註釋Risks and challenges are inherent in every business activity. The nature of challenges keeps on changing. The case of the Indian pharmaceutical industry discussed in the preceding section highlights this. The challenge is to establish business and produce drugs at affordable prices. Indian companies learned to do this and have become least-cost producers by developing alternative manufacturing processes. They use this strength to internationalize their activities and further improve their capabilities of manufacturing, marketing and R&D. Now, they must compete with MNCs focusing on generic drugs and also spending heavily on R&D. There is a need for continuous learning.In India, issues of poverty, illiteracy and malnutrition are continuing in the society. Some of the new challenges facing contemporary businesses are global competition, technological changes, ecological and related environmental problems, and terrorism. Many of these challenges need collaborative efforts on the part of the government and businesses to tackle them. All these issues require improving efficiency in existing business operations and continuous improvement and innovation in all business activities. Use of information technology and the Internet is changing the way people think and operate and thereby changing the functioning of business enterprises. In addition, ethical and social responsiveness as a part of corporate management is also becoming important. All these changes have made continuous learning and adaptation an integral part of individuals and organizations. It is now widely accepted that modern enterprises and organizations need to be learning organizations. In this chapter, six contemporary management thinkers and their contributions to management are discussed.