SELECTED MODERN MANAGEMENT TRENDS AND THEIR APPLICATION BY COMPANIES IN THE WOOD PROCESSING INDUSTRY IN SLOVAKIA

The rapid pace of development of the world economy, as well as the changing turbulent environment in which companies operate, are forcing them to adapt to the conditions of global competition and to find ways to succeed in the market. The survival of companies in the market and their prosperity are conditioned by the progressive tendency of the development of modern tools applied in a highly competitive environment. Individual management methods and tools can be applied at different levels of management and in different areas. Increasing demands are placed on the management of organizations in the wood processing industry, which results in the emergence of new management trends. The main aim of the paper is, based on the analysis of theoretical knowledge, to identify modern trends, methods, and tools in management of the wood processing industry reflecting current changes and challenges in the environment, and to find out their application by Slovak wood processing companies.