Management Process - Various challenges managers must face in the 21st century workplace

Describe the various challenges managers must face in the 21st century workplace. To what extent are you, as a future manager, prepared to meet each of these challenges? Explain your answer.

Ans: 

The challenges that managers must face in the 21st century work environment include the following:

- Intellectual capital  intellectual capital and knowledge workers increasingly drive organizations; since knowledge constantly becomes obsolete, everyone is under pressure to learn and continually apply new knowledge.

- Globalization  economic competitiveness is a challenge of worldwide scope.

- Technology  the availability and ease of transferring information is affecting organizational work environments and the very nature of business itself.

- Diversity  organizations and their members are being challenged to deal positively with differences among people; meeting this challenge creates strategic opportunity.

- Ethics  modern society expects managers and leaders in all organizations to conduct their affairs according to high moral standards.

- Careers  careers will be different and everyone must be concerned with developing their skill portfolios to remain valuable resources to organizations

Each student should assess his/her own level of competency with respect to dealing with these challenges, as well as why he/she is/isn’t prepared to meet these challenges.

Source: Management, 11th Edition - John R. Schermerhorn