What is the definition of contemporary management?
This term denotes the modern techniques to administrating people in business organizations, government bodies, or non-profit organizations. The “contemporary” indicate the relation to the present and up-to-date trends in the sphere of management. It means that the person who is involved in contemporary management should be aware of the recent variations of the management theory and implement the changes in their organizations. Modern managers should be resilient and adaptive so that they are ready to incorporate the newest developments in practice.