Emerging issues and challenges for management?
Challenge for management comes from the environment factors, which are dynamic in nature. They are:
1) Changing Organizational Perspective
Traditional Organization New Organization
• Stable (closed system) Dynamic( Open system)
• Inflexible(rigid Structure and process) Flexible
• Individual Oriented Team Oriented (Employee +Manager)
• Permanent jobs Temporary jobs
• Command Oriented Involvement Oriented
• Rule Oriented Customer Oriented
• Homogeneous workforce Diverse workforce
• Hierarchical relationships Lateral and network relationships
• Working in Office Working any time any where
• Job focused Skill focused
• Autocratic decision making Participative decision making.
2) Corporate Governance: Importance grew with the deregulation of markets and the liberalization in international trade and investment. In focus to implement values of fairness, accountability, responsibility, and transparency into organization, adopting best practices and being accountable to all stake holders. (Ethics and social Responsibility
3) Work force diversity: Work
force diversity requires more sensitive to the difference that each individual
or group bring to the work setting. Employer must deal with different values,
needs, interest, and expectations of employees and must avoid any practices or
action that can be interpreted as being sexist, racist, of offensive to any
particular group and of course must not legally discriminate against any
employee.
4) Empowerment: Employee empowerment is a strategy and philosophy that enables employees to make decisions about their jobs. Employee empowerment helps employees own their work and take responsibility for their results.
5) Technology and information:Technological
environment include the methods, techniques and approaches adopted for
production of goods and services and its distribution. Technology can reduce
costs, improve quality and lead to innovation. (large, fast information and manager has to process it in much lesser time.)
6) Relationship Management: It focus on working together to achieve common goal. In order to achieve this, every individual need to address and respect the unique competencies of other or all stakeholders.
7) Workplace spirituality: Spirituality in the Workplace is about individuals and organizations seeing work as a spiritual path, as an opportunity to grow and to contribute to society in a meaningful way. It is about care, compassion and support of others; about integrity and people being true to themselves and others. It means individuals and organizations attempting to live their values more fully in the work they do.
8) Knowledge management: KM is the process through which organizations generate value from their intellectual and knowledge-based assets. Most often, generating value from such assets involves codifying what employees, partners and customers know, and sharing that information among employees, departments and even with other companies in an effort to devise best practices.
9) Globalization: Operating business in a borderless and global economy and how to compete for resource and markets, understand cultures, etc.
10) Change Management (giving priority to Innovation and Change):“Change is an alteration occurring the work
environment that affect the ways in which employees must act. (Newstrom and
Davis). OC is modification in relationship and behavior
patterns of individuals and groups in organization, and organizational level
for adaptation to dynamic environment.
11) Quality Assurance and productivity: Increasing the quality of product and productivity which are the basis for competition act as the major challenge the manger faces today.
12) Ethical and social responsibility: Ethics is an individual personal belief about a behavior, action or
decision is right or wrong. Social
responsibility of business refers to all such duties and obligations of
business directed towards the welfare of society.
managers must play a central role in facilitating organizational effectiveness. thus, the managers must have the insight to see and understand the emerging organizational challenges. several challenges confront managers today. the manager's principal task, today, is to respond to new external developments and the demand of society. this section deals with these emerging challenges for management like- administrative role, cultural orientation, quality/ ethics/ environmental impacts, power bases, primary organizational unit, interpersonel dealings, learning, problems, change and conflict, information,globalization of business, quality assurance and productivity, ethics and social responsibility, innovation and change, workforce diversity, empowerment, technology, knowledgement
ReplyDelete1.Globalization: - Globalization phenomenon is getting popular these days. Globalization of business refers to the free flow of goods service, technology, labor, capital information, across the national boundary; it is closer economic integration among different countries in terms of flow of good service, capital labor and technology. Globalization is the tendency of expanding business in different countries. Managers have to work in boundary less world. There is no territory or barrier in export and import business. Globalization invites global competition. Organizations which were competing locally with local competitors now they have to compete with global competitors. It is very difficult to organization to survive and develop in such situation. Organizations should increase quality of product and reduce cost which is a challenge for manager. Many organizations are becoming global these days. They are running their business in different countries with different culture, climate, and geography, political and economic system. It is a challenging work for managers to prepare executives officers who can run business in such countries.
ReplyDelete2. Workforce diversity: - Modern organizations are characterized by workforce diversity. Diversified workforce is the reality of business these days. Organizations are becoming heterogeneous in terms of ethnicity, gender, nationality, age group, etc. People having different religions, different nationality works together under one roof. Different people have different nature and they show different behavior because they come from different background. How to manage such diversified workforce is a great challenge for managers. If such diversified workforce is managed properly, organization will be highly benefited because they also bring diversified skill and knowledge. But, if they are not managed properly, they create serious problem.
3. Quality assurance and productivity: - Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. It is the race without final line. It is said that people buy quality not product. And, to improve quality is a really a challenge for management. Along, with increasing quality to increase productivity again is another challenge for management. Organization must try to achieve higher productivity. Higher productivity only helps to reduce cost. Productivity is the ratio between input and output. Improved technology, employees, regular skill development and better utilization of resources helps to increase productivity. Total quality management is the latest approach or needs to improve quality.
ReplyDelete4. Technological advancement: - How to utilize advanced and sophisticated technology has become another challenge for management. Technology has developed beyond the expectation of anybody in the world over last 100 years. Tremendous advancement has been made in production, distribution and information technology. Managers must manage all this technology with the development of computer, the face of information technology has absolutely changed. Introduction of internet, email and other electronic media, have benefitted organizations in the field of productions, distribution and other areas of business. Decision making have been facilitated by information technology. Technological advancement has changed the nature of job. Most of the jobs which were performed by unskilled and semi-skilled labors previously, now they are performed by skilled labors. Number of white collar job is increasing and blue collar jobs are decreasing. Organization must train their employees about new technology. Only with new technology, Organization can compete with other competitors.
3. Quality assurance and productivity: - Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. It is the race without final line. It is said that people buy quality not product. And, to improve quality is a really a challenge for management. Along, with increasing quality to increase productivity again is another challenge for management. Organization must try to achieve higher productivity. Higher productivity only helps to reduce cost. Productivity is the ratio between input and output. Improved technology, employees, regular skill development and better utilization of resources helps to increase productivity. Total quality management is the latest approach or needs to improve quality.
ReplyDelete4. Technological advancement: - How to utilize advanced and sophisticated technology has become another challenge for management. Technology has developed beyond the expectation of anybody in the world over last 100 years. Tremendous advancement has been made in production, distribution and information technology. Managers must manage all this technology with the development of computer, the face of information technology has absolutely changed. Introduction of internet, email and other electronic media, have benefitted organizations in the field of productions, distribution and other areas of business. Decision making have been facilitated by information technology. Technological advancement has changed the nature of job. Most of the jobs which were performed by unskilled and semi-skilled labors previously, now they are performed by skilled labors. Number of white collar job is increasing and blue collar jobs are decreasing. Organization must train their employees about new technology. Only with new technology, Organization can compete with other competitors.
In this quick and advanced world, there are vast emerging issues and a lot of challenges arousing in the field of management. Thus, the manager must have the insight to see and understand the emerging organizational challenges, must have a skill to diagnose , analyze theses challenges,compete in international market and manage organizational change. This section deals with these emerging issues and challenges for management.
ReplyDelete1) Changing organizational perspective : The perspective and thinking about organizations have changed considerably over the period. Traditional views considered an organization as a closed system operating in a stable environment.It was job focused and individual-oriented organization. But it had permanent jobs ,rule and command oriented. Managers were the only one who cud make decisions.
Whereas,in today's organization they are viewed as complex entities made up of multiple internal and external realities . They are skill,team and customer oriented. They operate in a dynamic and flexible environment.they are involvement oriented but the jobs aren't permanent . Both employees and manager involve in decision making. They can even work through telecommunication.
2) Corporate Governance: Corporate governance is an essential tool for improving the performance which has been realized by the managers. Corporate governance issues rose in the importance following the deregulation of markets and the liberalization international trade and investment. It infuses value of fairness,accountability, responsibility, and transparency into organization. There is also a growing demand of the stakeholders that managers should contribute to a healthy business climate by adopting best practices .
3) Workforce diversity: Workforce diversity is the organizational reality today. It means the organizations are becoming more heterogeneous in terms of gender,age, cultural background, physical abilities and disabilities, race, religion,and sexual orientation. The challenge for manager has become more accommodating to diverse group of people. If he can manage those diversities positively,it will increase creativity and innovation in an organization else the problem may effect the organizations.
4) Empowerment: Employee empowerment is the strategies to let the employee take their own decisions ,schedules and procedures without the help of their bosses so that they have full control in their work. Thus, they can be aware of the challenges and problems of the organization without the presence of the managers. Various methods of empowerment ranging from simple participation of self-managed works team have now been practiced in organizations.
5) Technology and information: Technology environment consists of the innovations techniques and the organized way of doing things which can produce,sell and distribute goods in a lower cost,short time and in proper and better conditions. These technologies helps to compete in today's market and the managers have to cope up with these changes happening
6) Relationship management: It is the process that organizations and individual use to maintain the connections they with each other. Each and every individual should respect and cooperate with the next persons ability and workto achieve the common goal so the organization.
ReplyDelete7) Workplace spirituality: Spirituality in the workplace is about individual and organization taking works as a spiritual paths,as an opportunity to grow their working abilities and contribute or help the society Ina meaningful way. It means individuals and organizations are trying to live their values more fully in the work they do by showing some care ,compassion and support to others.
8) Knowledge management: It is the process of making the organization more knowledge-based as it collects the knowledge of its members, managers and also the employees and share them throughout the whole organizations, customers, departments and also with the other companies.Through knowledge-based assets organization can generate value. So knowledge management is also the emerging challenge for managers.
9) Globalization: Managers must learn how to operate the organization in a boundryless and global economy to compete for the natural resources in the competitive markets because the magnitude of the globalization is extremely high and they work in a boundryless world.
10) Change management: Organization must go under change otherwise they may go out of business. Success will go up only when there is improvement ,up gradation and modification in the product they are producing then only they can let down their competitors . So the challenge for the managers is to stimulate employee creativity for innovation and change.
11) Quality assurance and productivity: Organizations should assure of the products and services they are giving. Improving quality tends to increase the productivity in the competitive markets. Thus, the managers' attention must focus on the assurance of the quality of the products,need to work smarter not harder, and do more with less.
12) Ethics and social responsibilities: Ethics is the ones' belief about the behaviour ,action and decisions they are making which helps the members of an organizations to understand each other's actions and behaviours. Social responsibility of the business is to work and contribute for the welfare of the society.
The emerging issues and challenges for management are:
ReplyDelete1) Changing organizational perspective: The perspectives and thinking about organizations have changed considerably over the period. Traditional views considered an organization as a closed system operating in a predictable and stable environment.
2) Globalization of business: The world economy is becoming increasingly global in character. The magnitude of this globalization is very high. Today, managers operate in a boundlessness world. Therefore, They must learn how to operate in the boundless and global economy.
3) Quality assurance and productivity: Another competitive challenge that has attracted much attention is quality and productivity. The managers' attention must be focused on the assurance of quality of the products or services. The services are costumer - driven, pleasing the customer with quality services is more important than ever.
4) Technology and information:Technological environment include the methods, techniques and approaches adopted for production of goods and services and its distribution. Technology can reduce costs, improve quality and lead to innovation. (large, fast information and manager has to process it in much lesser time.)
5) Relationship Management: It focus on working together to achieve common goal. In order to achieve this, every individual need to address and respect the unique competencies of other or all stakeholders.
6) Corporate governance: Corporate governance infuses values of fairness, accountability, responsibility and transparency into organisation.
7) Knowledge management: KM is the process through which organizations generate value from their intellectual and knowledge-based assets. Most often, generating value from such assets involves codifying what employees, partners and customers know, and sharing that information among employees, departments and even with other companies in an effort to devise best practices.
8) Ethical and social responsibility: Ethics is an individual personal belief about a behavior, action or decision is right or wrong. Social responsibility of business refers to all such duties and obligations of business directed towards the welfare of society.
The emerging challenges in management are as follows;
ReplyDeleteGlobalization
Globalization is the international integration of intercultural ideas, perspectives, products/services, culture, and technology.
Ethics and Governance
Ethics is at the core of corporate governance, and management must reflect accountability for their actions on global community scale.
Diversity
Globalization demands a diverse work force, and assimilating varying cultures, genders, ages, and dispositions is of high value.
Career Success and Personal Fulfillment
Career success and fulfillment hinges on effective human resource management, the practice of empowering employees with the necessary tools and skills
Technology
Technology management is crucial in offsetting the risks of new technology while acquiring the operational benefits the technology provides.
Competition
Managers must understand a company's competitive advantage, and translate this into a strategy that incorporates the competitive landscape.
A Framework for Considering Challenges: PESTEL
The PESTEL framework highlights six critical factors for management to consider when approaching the general business environment.
Now more than ever, businesses have the opportunity to grow and expand into international markets. Many businesses are taking advantage of being able to establish and operate online with virtual offices and remote employees. There are many new ways to do business, but with growth also come new challenges and emerging issues. There are also economic issues that continue to present challenges to new and established businesses alike.
ReplyDeleteHere are some of the challenges:
ReplyDelete1> Economic Challenges:
Many economists have dubbed this era as "The Great Recession." Companies have recorded historic losses and are faced with the challenge of reorganizing their business to save money. Managers are faced with the difficult task of reducing staff with layoffs. Managers must also figure out how to keep their operation running smoothly with limited staff. You must be certain to make sure that your reduced-size staff doesn't become overworked and burned out. This can lead to reduced worker productivity.
2> Customer Satisfaction:
Managers must always be aware of their level of customer satisfaction with their product or service. You must be certain to always keep your ear to the ground and stay connected with your customers. If you are a restaurant owner, for instance, you must speak directly to the customers and get their feedback. Managers often become very busy with work and often neglect to get up close to what is going on. Be certain to do frequent employee performance reviews to ensure quality control and customer satisfaction.
3> Employee Development:
It is critical to make sure that employees keep a vested interest in the work. Employee burnout and a lack of enthusiasm about the work can often lead to slowed production and lower output. This is a recipe for disaster for managers that are trying to keep up production and quality. To make sure that your employees continue the same level of enthusiasm, be certain to give them plenty of opportunities for training. This will make them feel appreciated and valued as a part of the team. By investing in employees, you are investing with the company for its growth and development.
# Other Issues:
ReplyDeleteBesides economic crunches and staff reductions, there are other issues that continue to plague even the most people-smart managers. Issues such as employee disputes, gossip, jealousy and poor time management can be frustrating for managers. Websites such as Management Issues (management-issues.com) give advice to help you handle different management issues that arise. You can also submit questions and get a response from top professionals in the management field, which can help you manage your business.
The business environment sinces a couple of decades has witnessed a sea change mainly due to rapid development in transportation and communication network,innovation of new knowledge ,golbalization of business ,combination of multi-cultured professional and so on .therefore ,manager must be able to adjust to the emerging new challengers...
ReplyDelete1. Globalization: - Manager.are running their business in different countries with different culture, climate, and geography, political and economic system. It is a challenging work for managers to prepare executives officers who can run business in such countries.
ReplyDelete2. Workforce diversity: - People having different religions, different nationality works together under one roof. Different people have different nature and they show different behavior because they come from different background. How to manage such diversified workforce is a great challenge for managers. If such diversified workforce is managed properly, organization will be highly benefited because they also bring diversified skill and knowledge. But, if they are not managed properly, they create serious problem.
3. Quality assurance and productivity: - Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. e. It is said that people buy quality not product. And, to improve quality is a really a challenge for management. Along, with increasing quality to increase productivity again is another challenge for management. Organization must try to achieve higher productivity. Higher productivity only helps to reduce cost. Productivity is the ratio between input and output. Improved technology, employees, regular skill development and better utilization of resources helps to increase productivity. Total quality management is the latest approach or needs to improve quality.
4. Technological advancement: -Tremendous advancement has been made in production, distribution and information technology. Managers must manage all this technology with the development of computer, the face of information technology has absolutely changed. Introduction of internet, email and other electronic media, have benefitted organizations in the field of productions, distribution and other areas of business. Decision making have been facilitated by information technology. Technological advancement has changed the nature of job. Most of the jobs which were performed by unskilled and semi-skilled labors previously, now they are performed by skilled labors. Organization must train their employees about new technology. Only with new technology, Organization can compete with other competitors.
5. Innovation and change: - Management must pay attention on innovation and change. Otherwise, they would go out of business. Rapid innovations are taking place in technology, product and service. Product lifecycle is getting shorter and shorter. Product needs continuous improvement if the life span is to be made long. New ideas, new techniques, new methods are being innovated; there must be new inventions of ideas, new invention of product. Old and outdated product cannot satisfy customers.
There is change in external environment, political and legal, socio-cultural, economic and technological environment change rapidly. How to adjust with such change, how to keep pace with such change, how to keep pace with such change that has become challenge for management.
Emerging management issues and challenges
ReplyDelete1. Globalization: - Globalization phenomenon is getting popular these days. Globalization of business refers to the free flow of goods service, technology, labor, capital information, across the national boundary; it is closer economic integration among different countries in terms of flow of good service, capital labor and technology. Globalization is the tendency of expanding business in different countries. Managers have to work in boundary less world. There is no territory or barrier in export and import business. Globalization invites global competition. Organizations which were competing locally with local competitors now they have to compete with global competitors. It is very difficult to organization to survive and develop in such situation. Organizations should increase quality of product and reduce cost which is a challenge for manager. Many organizations are becoming global these days. They are running their business in different countries with different culture, climate, and geography, political and economic system. It is a challenging work for managers to prepare executives officers who can run business in such countries.
2. Workforce diversity: - Modern organizations are characterized by workforce diversity. Diversified workforce is the reality of business these days. Organizations are becoming heterogeneous in terms of ethnicity, gender, nationality, age group, etc. People having different religions, different nationality works together under one roof. Different people have different nature and they show different behavior because they come from different background. How to manage such diversified workforce is a great challenge for managers. If such diversified workforce is managed properly, organization will be highly benefited because they also bring diversified skill and knowledge. But, if they are not managed properly, they create serious problem.
3. Quality assurance and productivity: - Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. It is the race without final line. It is said that people buy quality not product. And, to improve quality is a really a challenge for management. Along, with increasing quality to increase productivity again is another challenge for management. Organization must try to achieve higher productivity. Higher productivity only helps to reduce cost. Productivity is the ratio between input and output. Improved technology, employees, regular skill development and better utilization of resources helps to increase productivity. Total quality management is the latest approach or needs to improve quality.
4. Technological advancement: - How to utilize advanced and sophisticated technology has become another challenge for management. Technology has developed beyond the expectation of anybody in the world over last 100 years. Tremendous advancement has been made in production, distribution and information technology. Managers must manage all this technology with the development of computer, the face of information technology has absolutely changed. Introduction of internet, email and other electronic media, have benefitted organizations in the field of productions, distribution and other areas of business. Decision making have been facilitated by information technology. Technological advancement has changed the nature of job. Most of the jobs which were performed by unskilled and semi-skilled labors previously, now they are performed by skilled labors. Number of white collar job is increasing and blue collar jobs are decreasing. Organization must train their employees about new technology. Only with new technology, Organization can compete with other competitors.
ReplyDelete5. Ethics and social responsibility: - Ethics is study of how our decisions affect other people. It is the study of people’s right and duties. The moral rules the people to make decisions and the nature of relationship among people. Ethics is to follow social code of conduct, social norms, values and attitude. The decisions made by managers have a broad reach both inside and outside the organization. So, managers must follow ethical norms and consider social responsibilities. Managerial decision must be based on ethical ground. But, these days ethics id\s decreasing in business world. So, many business organizations have unethical practice. Because of the unethical practice of some business houses, all business world is blamed.
How to fulfill social responsibility is also a challenge for management. The concept of corporate social responsibility has developed. Social responsibility means obligation of business organizations towards society community, people, share holders, etc. To provide quality product at affordable price, to develop more and more employment opportunities, to carry out different development activities in society, to control pollution are some social responsibilities of business organizations.
6. Innovation and change: - Management must pay attention on innovation and change. Otherwise, they would go out of business. Rapid innovations are taking place in technology, product and service. Product lifecycle is getting shorter and shorter. Product needs continuous improvement if the life span is to be made long. New ideas, new techniques, new methods are being innovated; there must be new inventions of ideas, new invention of product. Old and outdated product cannot satisfy customers.
There is change in external environment, political and legal, socio-cultural, economic and technological environment change rapidly. How to adjust with such change, how to keep pace with such change, how to keep pace with such change that has become challenge for management.
Empowerment: - This is the age of empowerment. Role difference between management and workers has narrowed down. Status between worker and manager is very narrow. Most of the decisions are taken at operating level. Workers are free to plan and schedule their work. They are given more and more autonomy and freedom. They participate in major decision making activities. Joint goal setting and joint performance evaluation has become common. Self managed work team had been established, more and more information are given to employees, and how to manage such empower team has become challenge for managers.
The emerging issues and challenges for management are:
ReplyDeleteGlobalization
Workforce diversity
Quality assurance and productivity
Technological advancement
Ethics and social responsibility
innovation and change
Technological advancement: -
ReplyDeleteHow to utilize advanced and sophisticated technology has become another challenge for management. Technology has developed beyond the expectation of anybody in the world over last 100 years..
Ethics and social responsibility: -
It is the study of people’s right and duties. The moral rules the people to make decisions and the nature of relationship among people. Ethics is to follow social code of conduct, social norms, values and attitude. To provide quality product at affordable price, to develop more and more employment opportunities, to carry out different development activities in society, to control pollution are some social responsibilities of business organizations.
Innovation and change: -
There is change in external environment, political and legal, socio-cultural, economic and technological environment change rapidly. How to adjust with such change, how to keep pace with such change, how to keep pace with such change that has become challenge for management.
Empowerment: -
This is the age of empowerment. Role difference between management and workers has narrowed down. Status between worker and manager is very narrow. Most of the decisions are taken at operating level. Workers are free to plan and schedule their work. They are given more and more autonomy and freedom. They participate in major decision making activities. Joint goal setting and joint performance evaluation has become common. Self managed work team had been established, more and more information are given to employees, and how to manage such empower team has become challenge for managers.
Globalization: -
Globalization of business refers to the free flow of goods service, technology, labor, capital information, across the national boundary; it is closer economic integration among different countries in terms of flow of good service, capital labor and technology.
Workforce diversity: -
Modern organizations are characterized by workforce diversity. Diversified workforce is the reality of business these days. Organizations are becoming heterogeneous in terms of ethnicity, gender, nationality, age group, etc. People having different religions, different nationality works together under one roof.
Quality assurance and productivity: -
Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. It is the race without final line. It is said that people buy quality not product.
The emerging challenges in management are as follows;
ReplyDeleteGlobalization
Globalization is the international integration of intercultural ideas, perspectives, products/services, culture, and technology.
Ethics and Governance
Ethics is at the core of corporate governance, and management must reflect accountability for their actions on global community scale.
Diversity
Globalization demands a diverse work force, and assimilating varying cultures, genders, ages, and dispositions is of high value.
Career Success and Personal Fulfillment
Career success and fulfillment hinges on effective human resource management, the practice of empowering employees with the necessary tools and skills
Technology
Technology management is crucial in offsetting the risks of new technology while acquiring the operational benefits the technology provides.
Competition
Managers must understand a company's competitive advantage, and translate this into a strategy that incorporates the competitive landscape.
1. Globalization: - Globalization phenomenon is getting popular these days. Globalization of business refers to the free flow of goods service, technology, labor, capital information, across the national boundary; it is closer economic integration among different countries in terms of flow of good service, capital labor and technology. Globalization is the tendency of expanding business in different countries. Managers have to work in boundary less world. There is no territory or barrier in export and import business. Globalization invites global competition. Organizations which were competing locally with local competitors now they have to compete with global competitors. It is very difficult to organization to survive and develop in such situation. Organizations should increase quality of product and reduce cost which is a challenge for manager. Many organizations are becoming global these days. They are running their business in different countries with different culture, climate, and geography, political and economic system. It is a challenging work for managers to prepare executives officers who can run business in such countries.
ReplyDelete2. Workforce diversity: - Modern organizations are characterized by workforce diversity. Diversified workforce is the reality of business these days. Organizations are becoming heterogeneous in terms of ethnicity, gender, nationality, age group, etc. People having different religions, different nationality works together under one roof. Different people have different nature and they show different behavior because they come from different background. How to manage such diversified workforce is a great challenge for managers. If such diversified workforce is managed properly, organization will be highly benefited because they also bring diversified skill and knowledge. But, if they are not managed properly, they create serious problem.
ReplyDelete3. Quality assurance and productivity: - Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. It is the race without final line. It is said that people buy quality not product. And, to improve quality is a really a challenge for management. Along, with increasing quality to increase productivity again is another challenge for management. Organization must try to achieve higher productivity. Higher productivity only helps to reduce cost. Productivity is the ratio between input and output. Improved technology, employees, regular skill development and better utilization of resources helps to increase productivity. Total quality management is the latest approach or needs to improve quality.
ReplyDeleteManagement can never remain unaffected by the changes in the environment. Due to the significant changes in the outside world today's management is facing several challenges. They are as follows:-
ReplyDelete1.Globalization
2.Workforce diversity
3.Quality assurance and productivity
4.Technological advancement
5.Ethics and social responsibility
6.innovation and change
1. Globalization: - Globalization phenomenon is getting popular these days. Globalization of business refers to the free flow of goods service, technology, labor, capital information, across the national boundary; it is closer economic integration among different countries in terms of flow of good service, capital labor and technology. Globalization is the tendency of expanding business in different countries. Managers have to work in boundary less world. There is no territory or barrier in export and import business. Globalization invites global competition. Organizations which were competing locally with local competitors now they have to compete with global competitors. It is very difficult to organization to survive and develop in such situation. Organizations should increase quality of product and reduce cost which is a challenge for manager. Many organizations are becoming global these days.
ReplyDelete2. Workforce diversity: - Modern organizations are characterized by workforce diversity. Diversified workforce is the reality of business these days. Organizations are becoming heterogeneous in terms of ethnicity, gender, nationality, age group, etc. People having different religions, different nationality works together under one roof. Different people have different nature and they show different behavior because they come from different background. How to manage such diversified workforce is a great challenge for managers. If such diversified workforce is managed properly, organization will be highly benefited because they also bring diversified skill and knowledge. But, if they are not managed properly, they create serious problem.
ReplyDelete3. Quality assurance and productivity: - Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. It is the race without final line. It is said that people buy quality not product. And, to improve quality is a really a challenge for management. Along, with increasing quality to increase productivity again is another challenge for management.
ReplyDelete4. Technological advancement: - How to utilize advanced and sophisticated technology has become another challenge for management. Technology has developed beyond the expectation of anybody in the world over last 100 years. Tremendous advancement has been made in production, distribution and information technology. Managers must manage all this technology with the development of computer, the face of information technology has absolutely changed. Introduction of internet, email and other electronic media, have benefitted organizations in the field of productions, distribution and other areas of business.
ReplyDeleteEmerging issues and challenges for management:
ReplyDelete1. Globalization: - Globalization phenomenon is getting popular these days. Globalization of business refers to the free flow of goods service, technology, labor, capital information, across the national boundary; it is closer economic integration among different countries in terms of flow of good service, capital labor and technology. Globalization is the tendency of expanding business in different countries. Managers have to work in boundary less world. There is no territory or barrier in export and import business. Globalization invites global competition. Organizations which were competing locally with local competitors now they have to compete with global competitors. It is very difficult to organization to survive and develop in such situation. Organizations should increase quality of product and reduce cost which is a challenge for manager. Many organizations are becoming global these days. They are running their business in different countries with different culture, climate, and geography, political and economic system. It is a challenging work for managers to prepare executives officers who can run business in such countries.
2. Workforce diversity: - Modern organizations are characterized by workforce diversity. Diversified workforce is the reality of business these days. Organizations are becoming heterogeneous in terms of ethnicity, gender, nationality, age group, etc. People having different religions, different nationality works together under one roof. Different people have different nature and they show different behavior because they come from different background. How to manage such diversified workforce is a great challenge for managers. If such diversified workforce is managed properly, organization will be highly benefited because they also bring diversified skill and knowledge. But, if they are not managed properly, they create serious problem.
3. Quality assurance and productivity: - Quality is the ability of the product to satisfy customers need. How to improve quality of the product or how to assure customers about the quality of the product has become a great challenge for management. Quality ensures organizations survival and growth. Organizations use quality to compete with competitors. Only improving quality of product organizations can face the global competition. Therefore, there must be continuous improvement in quality. Quality improvement has no boundary. It is the race without final line. It is said that people buy quality not product. And, to improve quality is a really a challenge for management. Along, with increasing quality to increase productivity again is another challenge for management. Organization must try to achieve higher productivity. Higher productivity only helps to reduce cost. Productivity is the ratio between input and output. Improved technology, employees, regular skill development and better utilization of resources helps to increase productivity. Total quality management is the latest approach or needs to improve quality.
4. Technological advancement: - How to utilize advanced and sophisticated technology has become another challenge for management. Technology has developed beyond the expectation of anybody in the world over last 100 years. Tremendous advancement has been made in production, distribution and information technology. Managers must manage all this technology with the development of computer, the face of information technology has absolutely changed. Introduction of internet, email and other electronic media, have benefitted organizations in the field of productions, distribution and other areas of business. Decision making have been facilitated by information technology. Technological advancement has changed the nature of job. Most of the jobs which were performed by unskilled and semi-skilled labors previously, now they are performed by skilled labors. Number of white collar job is increasing and blue collar jobs are decreasing. Organization must train their employees about new technology. Only with new technology, Organization can compete with other competitors.
ReplyDelete5. Ethics and social responsibility: - Ethics is study of how our decisions affect other people. It is the study of people’s right and duties. The moral rules the people to make decisions and the nature of relationship among people. Ethics is to follow social code of conduct, social norms, values and attitude. The decisions made by managers have a broad reach both inside and outside the organization. So, managers must follow ethical norms and consider social responsibilities. Managerial decision must be based on ethical ground. But, these days ethics id\s decreasing in business world. So, many business organizations have unethical practice. Because of the unethical practice of some business houses, all business world is blamed.
6. Innovation and change: - Management must pay attention on innovation and change. Otherwise, they would go out of business. Rapid innovations are taking place in technology, product and service. Product lifecycle is getting shorter and shorter. Product needs continuous improvement if the life span is to be made long. New ideas, new techniques, new methods are being innovated; there must be new inventions of ideas, new invention of product. Old and outdated product cannot satisfy customers.
There is change in external environment, political and legal, socio-cultural, economic and technological environment change rapidly. How to adjust with such change, how to keep pace with such change, how to keep pace with such change that has become challenge for management.
Emerging challanges for the manager are listed below:-
ReplyDelete1) Changing organizational perspective : The perspective and thinking about organizations have changed considerably over the period. Traditional views considered an organization as a closed system operating in a stable environment.It was job focused and individual-oriented organization. But it had permanent jobs ,rule and command oriented. Managers were the only one who cud make decisions.
Whereas,in today's organization they are viewed as complex entities made up of multiple internal and external realities . They are skill,team and customer oriented. They operate in a dynamic and flexible environment.they are involvement oriented but the jobs aren't permanent . Both employees and manager involve in decision making. They can even work through telecommunication.
2) Workforce diversity: Workforce diversity is the organizational reality today. It means the organizations are becoming more heterogeneous in terms of gender,age, cultural background, physical abilities and disabilities, race, religion,and sexual orientation. The challenge for manager has become more accommodating to diverse group of people. If he can manage those diversities positively,it will increase creativity and innovation in an organization else the problem may effect the organizations.
3) Empowerment: Employee empowerment is the strategies to let the employee take their own decisions ,schedules and procedures without the help of their bosses so that they have full control in their work. Thus, they can be aware of the challenges and problems of the organization without the presence of the managers. Various methods of empowerment ranging from simple participation of self-managed works team have now been practiced in organizations.
4) Technology and information: Technology environment consists of the innovations techniques and the organized way of doing things which can produce,sell and distribute goods in a lower cost,short time and in proper and better conditions. These technologies helps to compete in today's market and the managers have to cope up with these changes happening
5) Globalization: Managers must learn how to operate the organization in a boundryless and global economy to compete for the natural resources in the competitive markets because the magnitude of the globalization is extremely high and they work in a boundryless world.
6) Quality assurance and productivity: Organizations should assure of the products and services they are giving. Improving quality tends to increase the productivity in the competitive markets. Thus, the managers' attention must focus on the assurance of the quality of the products,need to work smarter not harder, and do more with less.
7) Ethics and social responsibilities: Ethics is the ones' belief about the behaviour ,action and decisions they are making which helps the members of an organizations to understand each other's actions and behaviours. Social responsibility of the business is to work and contribute for the welfare of the society.
The emerging issues and challenges for management are:
ReplyDeleteGlobalization
Workforce diversity
Quality assurance and productivity
Technological advancement
Ethics and social responsibility
innovation and change