CHALLENGES IN MODERN MANAGEMENT AND MODERN BUSINESS THAT MACEDONIAN ORGANIZATIONS FACE IN GAINING COMPETITIVE ADVANTAGE

Abstract

The end of XX and early XXI century marks the beginning of a new "dynamic era" of business. Constant rapid change, rapid industrial development and globalization encourage new thinking on the mode of action of organizations and their functions in order to gain competitive advantage. Because the world as a global village, conditions keeping up with the current trends and implementing new, modern concepts, methods and principles by the management of organizations. Modern management and modern business are the basis for building a successful organization that will be competitive on the market. The modern "managerial revolution" that is currently taking place forces managers within organizations to use more modern, contemporary means and methods of management that would face current challenges. Competitive advantage is accomplished by those organizations that are prepared for radical changes and which apply methods and concepts of continuous improvement. Sustainable competitive advantage is achieved by organizations that significantly stand out, in terms of competition, i.e. organizations that are capable of raising their performance comparatively to the competition, applying innovative techniques,  developing new superior products and offering services to build a strong brand and positive image applying targeted advertising.

This paper is focused on the analysis of a very important view of modern management and modern business in organizations, for the sake of gaining competitiveness. Namely, the paper examines the impact of contemporary challenges on the overall operation of organizations both in manufacturing and in the services sector, in order to achieve competitive advantage.