The management challenge in contemporary organizations is best summarized in which of the following statements?

A) Managers must simultaneously maintain high-performance standards as well as ethical and socially responsible operations.
B) Every manager must strive to achieve organizational goals even if it compromises his/her values.
C) Economic performance is the most important objective that managers must achieve.
D) Maintaining ethical standards and promoting social responsibility are the most important objectives managers must achieve.
E) Management in today's business environment should be approached in essentially the same way that it was in the past.

The statement correctly summarizes the management challenge in contemporary organizations by acknowledging the need to balance high-performance standards with ethical and socially responsible operations. Option B is incorrect because compromising personal values is not an acceptable approach to achieving organizational goals. Option C is incorrect because economic performance is only one of the many objectives that managers need to achieve. Option D is incorrect because although maintaining ethical standards and promoting social responsibility are important objectives of contemporary organizations, they are not the only objectives. Option E is incorrect as it suggests that contemporary management should not be approached in a modern way that reflects the current business environment.