Proceedings of the 8th International Conference on Advanced Research in Management, Business and Finance
Year: 2024
DOI:
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Challenges Of Management Transformation in A Technological Environment
Badri Gechbaia, Ketevan Goletiani
ABSTRACT:
Objectives: This article aims to explore the multifaceted challenges associated with management transformation in a technological environment. It emphasizes the critical need for organizations to adapt and innovate to remain competitive amidst rapid technological advancements. The study seeks to understand the implications of integrating emerging technologies into traditional management frameworks and the resultant impact on organizational structure, culture, and operational efficacy. Methods/Approach: The article employs a qualitative analysis of current technological trends and their effects on management practices. It examines the impact of technologies such as artificial intelligence (AI), big data analytics, blockchain, and the Internet of Things (IoT) on traditional management frameworks. The approach includes a review of literature on technological integration challenges, organizational culture shifts, skill gap issues, structural changes, data security concerns, financial implications, and leadership roles in technological transformation. Results: The analysis reveals several key challenges in management transformation within a technological environment. These include resistance to change within organizational cultures, skill gaps requiring continuous education and training, and the need for more agile and flexible organizational structures. Additionally, the study highlights the critical importance of robust data security measures and the financial burden of investing in new technologies. Effective leadership is identified as a pivotal factor in driving successful technological transformation, with a focus on developing leaders’ capabilities to manage change, inspire teams, and make strategic decisions. Conclusion: The article concludes that addressing the challenges of management transformation in a technological environment requires a holistic approach. This involves integrating technology with human capital development, fostering a culture of continuous learning, implementing agile organizational structures, ensuring robust data management, strategic financial planning, and cultivating effective leadership. By adopting these strategies, organizations can leverage technological advancements to achieve sustainable growth and maintain a competitive advantage in the digital age.
keywords: Digitalization, Management of Technological Innovation, Organizational Behavior, Technological Change, Enterprises Transformation.