21st Century Business Challenges
•Download as PPT, PDF•
40 likes•80,480 views
Organisations face many challenges in managing business in the 21st century. Globalization, new technologies, and changing workforce demographics require flexible strategies and virtual/global leadership. Organisations must recruit knowledge workers, embrace diversity, and adapt workplace environments and HR policies to accommodate new trends like telework, automation, and work-life balance demands. Effective communication and ethical/socially responsible practices are also needed to navigate complex challenges in this rapidly evolving business landscape.
![MANAGEMENT CHALLENGES IN THE NEW MILLENNIA (21 ST CENTURY) ,[object Object],[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Recommended
More Related Content
What's hot
What's hot (20)
Similar to 21st Century Business Challenges
Similar to 21st Century Business Challenges (20)
More from Stella SIM
Recently uploaded
Recently uploaded (20)
21st Century Business Challenges
- 1. ORGANISATION CHALLENGES IN MANAGING BUSINESS IN THE NEW MILLENNIA (21 ST CENTURY)
- 8. Consumers’ Trend in the 21 st Century More affluent More educated Quality of life More feminised Older More fragmented households Less happy Fewer children 1 in 4 women born in 1972 will not have children 40% of the population over 50 by 2010 Disposable incomes have doubled since 1971 Only 1 in 3 households contain a ‘nuclear’ family 35% of 24 year olds are graduates 40% of workforce are women Over half of adults are ‘unhappy with their standard of living’ 38% would take a pay cut for less stress Adapted from: www.henleycentre.com
- 10. INDIVIDUAL & LEADERSHIP CHALLENGES To bear the pressure and face the challenges, workers/professionals need to be flexible and able to adjust to the changing conditions.
Editor's Notes
- In Management Challenges for the 21st Century (Classic Drucker Collection) By Peter F. Drucker Drucker sees the period we're living in as one of "PROFOUND TRANSITION--and the changes are more radical perhaps than even those that ushered in the 'Second Industrial Revolution' in the middle of the 19th century, or the structural changes triggered by the Great Depression and the Second World War". In the midst of all this change, he contends, there are five social and political certainties that will shape business strategy in the not-too-distant future: the collapsing birthrate in the developed world; shifts in distribution of disposable income; a redefinition of corporate performance; global competitiveness; and the growing incongruence between economic and political reality. Drucker then looks at requirements for leadership ("One cannot manage change. One can only be ahead of it"), the characteristics of the "new information revolution" (one should focus on the meaning of information, not the technology that collects it), productivity of the knowledge worker (unlike manual workers, knowledge workers must be seen as capital assets, not costs), and finally the responsibilities that knowledge workers must assume in managing themselves and their careers.