Emerging issues and challenges for management

This slide is about the Emerging issues and challenges for management.

1. Emerging issues and challenges for management  Sadikshya Satyal

2. Content Introduction Issues and challenges C onclusion

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