It seems that postmodernism is no longer a theory or a philosophical stance but a reality which impacts upon many facets of life in, specifically, Western societies. It is represented in world views which are increasingly becoming prominent, and also in the conditions, such as, hyperreality, fragmentation, decentring of the subject, reversal of production and consumption, paradoxical juxtaposition of opposites, and non‐commitment to meta‐narratives, which seem omnipresent in postmodern culture. Under the circumstances, organizations can no longer continue with business as usual. They will have to develop an understanding of their markets and employees under the conditions of postmodernity.
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