One contemporary leadership trend, in particular, is transformational leadership. Contemporary management approaches is an asymmetric, dynamic, social process that has to be applied according to the particular needs of time, place, and person connected with it, for effective and efficient realization of the set goals and objectives. The term “transformational leadership” was first coined by J.V. Downtown in Rebel Leadership Commitment and Charisma in a … Contemporary Management, 11th Edition by Gareth Jones and Jennifer George (9781260075090) Preview the textbook, purchase or get a FREE instructor-only desk copy. There are two eternal truths: Life is about change; and being a business leader can be super challenging!. 1. “Organizations particularly business organizations continuously face numerous contemporary issues in running their organizations. It provides vivid, current examples of how managers of companies, large and small, address the challenges and opportunities they face and how they can effectively meet them. The 10th edition of Contemporary Management by Jones/George continues to provide students the most current and up-to-date account of the changes taking place in the world of business management. What are contemporary management practices? The transformational leadership approach highlights the importance of leader charisma, inspirational motivation, intellectual stimulation, and individualized consideration as methods of influence. Visionaries may be inspirational, but they generally need grounding from more prosaic partners to succeed. Without strong day-to-day management, organizations can quickly stray from the path that leads to their stated goals. Contemporary management theories. In fact, 66% percent of CFOs say it’s more challenging to be a company leader today, than it was five years ago.So what’s changed? It is useful for scholars, researchers and educators in the area of management, especially those concerned with organizational behavior. Contemporary or Modern Management Theory began with the work of Peter Drucker. The characteristics of the three contemporary leadership styles namely, transformation, transnational and charismatic leadership styles will be discussed in the article. Contemporary approaches to leadership include transformational leadership, leader-member exchange, servant leadership, and authentic leadership. He proposed the concept of Management by Objective. His work was a departure from the classical and behavioral (human relations) approaches of the past. Contemporary Management 10e mirrors the changes taking place in today's management practice by incorporating recent developments in management theory and research. 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