Compose a 1250 words essay on Managerial Challenges in 21st Century. Needs to be plagiarism free!
According to management consultants, rigidity will only result in decay and organisational bankruptcy, and flexibility is proposed as the only way to move with the dynamic times (IABMP, 2009). Management practices in the 21st century have had to change with the times as organizations are become more complex. Managers cannot afford to continue with the old managerial practices because 21st century workers can easily be unproductive if their needs are not taken into consideration. This paper will discuss some of the challenges managers face in the 21st century.
Most organisations are aligning themselves with the appeal of the globalised business platform of the 21st century (Molinsky, 2012). Globalisation is characterised by the multi-national integration of technology, perspectives, culture, products and ideas. Therefore, it becomes an inevitable managerial requirement to incorporate the trend within organisational strategies. However, the pace at which technological, transportation and communication advances are driving globalisation is a major challenge to managers, charged with leveraging the technologies appropriately within their systems and structures (IABMP, 2009). Further, the very nature of being a multinational organisation translates into the need for a comprehensive international awareness by managers. A specific managerial challenge posed by globalisation is that of conflicting cultures (Gomez-Mejia, Balkin Cardy, 2009). While the essence of globalisation includes enabling some procedures to be conducted worldwide and universally, managers must acknowledge that some must be localised in their respective areas to ensure regional and cultural adherence. Managers will exploit any business opportunity that presents itself, but they are challenged by the need to not appear as if they are championing international culture at the expense of locally established regional ones (IABMP, 2009). Just as is the case with the