The influence of technological development on management innovations: An example of the textile industry

Abstract

This paper studies the impact of technological development on management innovations, with special attention being paid to management innovations in the textile industry. The work is based on the fact that in modern conditions, technological development is the basis and main driver of economic and social development in general, as well asthat this process implies changes in all spheres of activity, including in the sphere of business management. The study of the subject matter begins with a brief overview of the development and changes of management from its origins to the present day, pointing to the fact that in the era of the new technological revolution, the application of nanotechnologies, biotechnology, industrial ecology, etc. it is necessary to apply new, sometimes completely different, business management methods that are in accordance with the new economic conditions. The main characteristics of innovative management methods in modern companies are new approaches to management, i.e. to conducting business activities, changes in the organizational structure of the company, encouragement of creativity and innovation of employees, simultaneous development of strategic adaptability and operational efficiency and the like. In the final part of the paper, management innovations that must be implemented in the textile industry sector are pointed out, and which concern, first of all, adequate management of the environmental, economic and social aspects of the textile production process.