Emerging issues and challenges for management
Download as PPTX, PDF1 like4,308 views
The document discusses emerging issues and challenges for modern managers. Key challenges include globalization, which allows products to be sold worldwide; environmentalism and developing businesses sustainably; maintaining quality while improving productivity; managing a diverse workforce; driving innovation and change; empowering employees; keeping up with new technologies; and addressing multicultural effects in organizations. Overall, the document outlines the changing social and business environment and stresses that managers must be adaptable to new challenges for effective management.
Emerging issues and challenges for management
- 1. Emerging issues and challenges for management Sadikshya Satyal
- 2. Content • Introduction • Issues and challenges • Conclusion
- 3. Introduction • The changing social and business environment is said to the emerging issues and challenges • The knowledge about emerging new challenges is necessary for managers to modify and adjust themselves to work efficiently • managers must be able to adjust to the emerging new challenges for the efficient and effective management
- 4. Globalization • The introduction of network has tied the people together; • Any product produced in one part of the country can be sold to other countries without barriers or restrictions • Multinational companies are global players in business to survive and prosper business operations • Present managers have to work by considering the global perspective • They must be innovative and adjustable according to the changing environment
- 5. Development of environmentalism • The environmental issues are the major issues in management • These issues may not be the matter of interest to an enterprise, especially in developing countries • But politicians and social activists have picked up the environmental banners • The green movements have spread into different parts of the world • Present managers have the challenge to develop their enterprise creatively but without harming the environment
- 6. Quality and productivity • In past many managers assumed that they could increase output only by decreasing quality ; but present managers disagree • Present managers have recognized that quality and productivity are inter related to each other • Three positive results to the management: Low return of defects from customers Minimized wastage of resource Reduces the need of inspector
- 7. Ethics and social responsibility • Ethics is about an individual’s personal beliefs about what constitutes right and wrong • The most vital ethical concern of modern managers is to know how an organization treats its employees • Social responsibility is the set of obligations that an organization has to fulfill towards the society
- 8. Workforce diversity • Workforce is increasing in organizations today because of changing population dimensions • There are several dimensions of diversification; the important are age, gender, and ethnicity • The diversification in workforce can affect the organization differently • In one hand it can be the source of cost advantage and on the other hand it could be a source of conflict in an organization
- 9. Innovation and change • Innovation of new knowledge to fulfill the expectations of stakeholders is increasing today • At present managing change is critical challenge to managers • It is the responsibility of managers to handle such change in scientific and practical way • Managers can use variety of tools to harmonize the working environment of the organization
- 10. Empowerment and change • Employees are the major element of the internal environment of an organization • When managers and employees embrace the same values and have same goals, it becomes convenient to achieve organizational objectives • At present, employees have become more powerful due to decentralized authority and labor unions affiliated to political parties
- 11. Knowledge and development • Knowledge has become power • The society expects new ideas, things and creativity in product and service • To fulfill such social expectations, the manager has to accumulate knowledge and ideas from all the members involved in the organization • A model manager must be flexible to manage knowledge and should also consider the situational factor
- 12. Technological development • Technological development tends to increase the aspirations and expectations • It develops the concept of competitive environment among the manufacturers and supplies • The most important challenges of present-day managers is to identify and predict the ever developing new technology • It is the responsibility of managers to keep pace with the changes in technology and grab the opportunity to make business a success
- 13. Multi cultural effects • Innovation of modern transportation system has tied the multi- cultured people together • They work together to meet their common objectives even if they have different traditions, values, social attitudes • Management is effective only when it is able to maintain coordination among multi cultural professionals
- 14. Conclusion • In Nepal, political instability, powerful labor unions affiliated with political parties, rising public expectations and lack of skilled manpower due to brain drain are the major challenges for managers • Many Nepalese business organization are operating in measurable condition • Nepalese managers need to overcome the mentioned challenges and the government needs to play the role of a facilitator