Research background: Under the influence of globalization andinternationalization, corporations are emerging, and competition is takingon an international dimension. For companies, it is becoming necessary toadapt their traditional ways of doing business to the changed situation andnew market opportunities, which results in the emergence of newmanagement methods and tools. Research background is based on theresults of international survey, which will serve us for the purpose ofcomparing the state of modern trends in management in the world and inSlovakia.Purpose of the article: The main purpose of this article is to evaluate theapplication of modern trends in business management used by managersworldwide, as well as in enterprises in Slovakia, in terms of methods andtools by the implementation management functions and their impact on theenterprises.Methods: The following scientific methods of research were used in thepaper, namely analysis, synthesis, induction, deduction, comparison, andresults of questionnaire surveys.Findings & Value added: The article is dedicated to the results ofinternational surveys, which are aimed at monitoring the behaviour andattitudes of managers, the rate of utilization and satisfaction of variousmanagement methods and tools. Successful implementation requires anunderstanding of their strengths and weaknesses, as well as the ability tocreatively integrate the right tools in the right way
Understanding the firms' key customers and its competitors would aid managers in responding to the changing environment and the restructuring of the organizational strategy accordingly. It would also enable managers to formulate and change the strategic approach toward the portfolio of customers that fits the objective of the organization .
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Benchmarking is the process of comparing one's business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time, and cost. The innovative environment will continue to be subject to the changes brought about by the phenomenon of digitization. Certainly fundamental, revolutionary and indepth changes are waiting for us and each enterprise will have to accept and implement new, modern information technologies that will be related to the effective change of business under the influence of Industry 4.0 . This research has found that revolutionary technologies bring fundamental changes to society and the business environment. Changes caused by technological progress affect competition, 5
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SHS Web of Conferences 92, 0 Globalization and its Socio-Economic Consequences 2020 2009 (2021) participate in variation in the way companies work, manage, and organize. The neverending digital transformation converts organizational and management concepts into operational reality, within which hierarchical structures are less and less applied and new trends from the sphere of management dominate. 2 Methods
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The subject of the paper has been processed using the analysis of secondary data, the available foreign scientific literature related to the research issue, which is listed in the references. We have used a wide range of articles from scientific journals related to the processing issue and electronic resources. We have also worked with the results of the consulting companies surveys, mainly with the results of an international survey conducted by Bain & Company entitled "Management Tools & Trends", which served us for the needs of comparison of the state in modern trends in management in the world and in the Slovakia. The object of the survey was represented by a sufficiently large and representative sample of enterprises operating in Slovakia for the purpose of realization a primary survey. The questionnaire survey was aimed at determining the extent of application of individual modern methods and tools used during realization of managerial functions, in different types of organizatio
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