CHALLENGES OF MANAGEMENT Concept: You are studying management in a time and place where many people are rethinking

g what management is all about. This realization comes from the increasing speed at which the change is taking place in organizations and all over the globe. Ofcourse this may not be a surprise for todays managers who look change is constant and inevitable in their lives. We can conclude this overview of management practice with three concurrent challenges that confront managers as they deal with a changing world on the doorstep of the twenty-first century. 1. The Need for Vision: ew telecommunications technologies continue to e!pand our real and speed up our communications.

"n addition# the world is being reshaped# both by technologies such as genetic engineering# automated manufacturing lasers# nano technology and computer chips and by changing political boundaries and alliances. These new technologies and new political alignments mean that managers face new possibilities for forging relationship that will carry their organizations into the future $uropean %nion is another e!ample. & vision for living through and benefiting from these changing circumstances is important to any manager. 'or most of this country# we can talk as e!amples about (oint ventures)amalgamations)takeovers)bayonets)mergers)ac*uisitions between "ndia and other countries)industries which are many. +anagers with vision create the new relationships and mange.

2. The need for ethics: The decisions made by managers in organizations have a broad reach both inside any outside the organizations. That is managers must be concerned with values and ethics. ,ometimes things go different in the course of e!ample that managers inevitably allocate advantages and disadvantages no matter what do-or fail to do. The study of who is - and should be - benefited or harmed by an action is called ethics. $thics deal with both conflict and opportunity in human relationships. $thical *uestions are among the most difficult ones any person faces. These *uestions deal with right and wrong where the magnitude of the decision is often great. $thics provides the binding force that holds our relationships# and the larger society# together. 3.The Need for esponsi!eness to C"#t"r$# %i!ersit&: $ducation# travel# telecommunications# changing immigration policies# the end of cold war# and several decades of peace time have combined to break down inter cultural barriers to an e!tent not seen in the past. The work place is very different from what it was thirty years ago. One very prominent e!ample of this is the influ! of women# bringing not (ust numbers# but talent and perhaps different approaches to relationships. "n short# managers of todays organizations must be prepared to deal with diversity in their organizations and to draw on the talents of all of their employees. +any managers are already deeply immerged in these challenges. +anagers are finding it necessary to rethink traditional policies to accommodate the varying interests and needs of diverse groups of people.