MANAGEMENT SUBSYSTEMS’ DEVELOPMENT IN MANAGEMENT 5.0

Abstract

The article is devoted to the need to change approaches to the management system in an organization formation. Management is considered to be the independent activity. Management concepts’ brief description at the different stages of society's development is provided: management 1.0, management 2.0, management 3.0, management 4.0, management 5.0. The author identifies key components and technologies at these stages. They have become decisive for the use of appropriate management tools. As a conclusion, the key factors of the presented concepts are given. Scientists who made a significant contribution to their formation and development are indicated. This analysis made it possible to identify the main components of management 5.0. Its formation basis is the ESG management model. According to it, the key management subsystems are environmental management, well-being-based personnel management and innovative management. For each subsystem, directions of its development and indicators for evaluating the effectiveness of functioning are given. Environmental management is the management system’s part used to manage environmental aspects. Well-being-based personnel management means that personnel management subsystem is based at five components. They are: employee physical health, career, functional team, relationships in the team, financial well-being. Innovative management is the independent branch of economic science. But in Industry 5.0, the introduction of innovations is an integral characteristic of all organizations without exception. Formation an organization's management system based on the above three management subsystems provides it with significant advantages. They are: the ability to make relevant management decisions, increasing the level of investment attractiveness, increasing the level of initiative of employees and their interest in achieving the organization's goals. The main task of the modern management system is shifting to the plane of forming and ensuring conditions in which each employee can generate an idea, justify its feasibility and develop a way for its practical implementation, propose a project for its implementation and bear responsibility for the results obtained.