Economy & Business, Volume 15, 2021

Abstract: Numerous business challenges steeped in market complexity, due to overall constraints of social and health issues manifesting in today's global world, posing a serious temptation to modern entrepreneurship. To overcome obstacles and barriers in a ˝lean˝ manner companies have to reflect efficiency, competitiveness and market segmentation to the greatest extent possible. Aim of this paper is to present how modern companies can use the so-called Lean Management to moderate quality and originality of innovative products, new communication relations with the market (consumers), manage issues that may undermine the harmony between production/service and consumer. Lean Management is considered one of the best systems for achieving business excellence, which encourages companies to adapt their business to market needs, meaning that traditional companies strive to organize business and production processes according to lean principles through the implementation of Lean Management. Research methodology is based on secondary research that statistically relate companies to constant investments in machinery, tools, people and work standardization. Research preview of this paper comprehends existing research meta-data to analyse Lean Management as a process of continuous improvement for identifying and eliminating those organizational elements that do not add value to the product. The implementation of Lean Management is a time consuming process that seeks continuous improvements that never stop striving for more efficiency. Results of this paper bring contemporary importance role of Lean Management in today's modern entrepreneurship that is dealing with global pandemic and new paths to the physically constrained consumers. Therefore, results of the research update the processes of implementing Lean Management, to confirm it as a "concept" of modern leadership and organization.