An analysis of modern business practises

Abstract

The magnitude of organizational change is one of the measures of sustained success in a competitive globalized market such as that which exists today. With new technology and practices, organizational change occurs rapidly in today's economy. The process of change needs special attention and consideration of professional managers towards building a sustainable and successful organization. This study analyzes the need for changes, and the external environment that accentuates the change process. It presents the change phenomena in the six major areas: i) economic scenario, ii) organizational behaviour and human resource management, iii) operations management, iv) management information system, v) financial management, and vi) accounting practices.