As we know that managerial functions are the key to organizational success. Managers have to perform several roles to perform managerial activities/functions. There are several emerging challenges of management that managers confront today. These challenges arise mainly from significant changes in the outside world. A manager must have the insight to see and understand and overcome the emerging organizational challenge to operate the organization smoothly.
Some of the emerging challenges of management:
- Globalization
- Development of environmentalsm
- Quality and Productivity
- Ethics and Responsibility
- Workforce diversity
- Authority and Responsibility
- Empowerment of Knowledge
- Technological Development
- Multi-Culture effect
Globalization
The introduction of networks in transportation, communication, and economic interdependency has tied the people of the world together and caused the globe to shrink. Any quality product or service produced in one part of a country can easily reach all parts of the world without any restriction which creates a competitive market. This is the challenge for managers to competitive these markets.
Development of environmentalism
Industries or factories produce many toxic wastes and others which badly affect the environment. These environmental issues draw the attention of not only society but also the social and political institutions which is one of the reasons for strikes in organizations. So, managers have the challenge to develop ways to make a profit without harming the environment like eco-product.
Quality and Productivity
In the past, the management strategy is to increase output by decreasing the quality of the product. But now in the competitive market, management has to increase productivity with quality goods which is one of the challenges for management.
Ethics and Social Responsibility
Ethics is an individual`s personal belief. Modern managers have the challenge to know the belief, attitudes of the employee or other stakeholders (customers, suppliers, investors, etc.) of the organization. So, management can fulfill their needs and interest.
Workforce Diversity
Here, workforce diversity state that organizations are becoming more heterogeneous in the terms of gender, race, ethnicity, and another background. They have different working styles. It creates conflict in the organization. As a result, Organization doesn’t operate smoothly which may be the reason for the loss. It is an emerging issue for managers to manage the conflict between them.
Authority and Responsibility
It is necessary to delegate authority of decision-making related to their work. But sometimes, the authority should be misused. So, it is a challenging task for managers to delegate decision-making authority to subordinates.
Empowerment of employee
Work should be assigned to the employee by providing them the freedom to make choices about schedules, procedures and also to solve work-related problems. Decision-making power is pushed down to the operating level. Now, managers are going considerably further by allowing employees full control of their work. Today, Self-managed work teams where workers operate largely without bosses should introduce. In some cases, it would be the reason for losses.
Knowledge Management
The business environment is changeable in nature. Society expects new ideas, new products, and services from any organization with changing environment. It is a difficult task for a manager to fulfill it by accumulating the knowledge and ideas from all members.
Technological Development
The technological environment consists of innovations, techniques, and the organized knowledge of ways of doing things (procedures). Managers have to identify the new technology and introduce it in the company which is an emerging issue of management because, within a second, thousands of technology is introduced in the world.
Multi-Cultural Effects
In the business, there is the involvement of multi-cultural people having different traditions, values, social attitudes, religions, believes, and also in living approaches. In such organizations, conflict arises among them. it is a big challenge for managers to manage these conflicts.
