This is a great question. As you point out the business world is changing and with this management needs to change as well. In light of this, let me give a few ways in which business is changing.
First, more companies now have a global footprint. For this reason, there are branches all around the world. This fact alone is having a great impact on management, because management needs to now take cultural issues into considerations. In other words, each culture has a different commonsense view of the world. So, companies need to learn how to deal with employees and customers in ways that are cultural sensitive.
Second, companies are becoming more mobile. It is possible for people to work from anywhere. For this reason technology of changing the way business is being conducted. In light of this, management has to think of new strategies as well.