The Captivity of the Principles and Functions of Classic Management, and Contemporary Innovative Management

This paper isfocused on the idea that principles represent, in any science, fundamental theses or expressions, basic ideas underpinning any scientific theory, any practicai system or efficient organization. A set of fundamentals of general economics are always behind any principled and theoretical developments of practically all sciences branching from the vital and so generous tree of economics. The principles of the modern market economy, in their deeply axiomatic and comprehensive capacity, through a statement worthy of the terse spirit ofGreek classicism, but also adequate to today's scientific teminology, have been formulated by James D. Gwartney and Richard L. Stroup in remarkable and perennial wording. Contemporary management has become, and is expanding, as innovative management in compliance with classic managerial principles and functions, while also developing further principles and constantly adapting to the new global and the new economic realities.