Management ca ever remain unaffected by the changes in the environment. Due to the significant changes in the outside world today's management is facing several challenges. They are as follows.
- Globalization - The world economy is becoming increasing global in character. Manager will be involved in the management of global organization. They will need to think globally and act locally. Today more than one fourth of all goods produced worldwide cross the national boundaries. So it is one of the main emerging challenges.
- Technology - Development of new technology has brought quickness, simplicity and effectiveness in managerial works. Management will need to manage changing technology effectively. So it has appeared as challenges.
- Social responsibilities - An organization should be responsible towards shareholders, employees, customers, society and nation. Now-days social responsibilities has become compulsory not a subject of discussion.
- Change management - Change is demand of time. In the complex and dynamic environmental context, change should also be brought in different aspect for organization.
- Cultural diversity - Education, tour, communication, experiences etc bring changes cultural norms and values of human. Different races, languages, custom, fashion and living style add diversity to it. Cultural norms and value go on changing, adding diversities which are great challenges.
- Empowerment - The manager should provide the works full control over their works by promoting self managed teams on encouraging maximum participation, more information is provided to employees to make them aware of problems of their organization.
- Quality - Now-days the qualities of the goods and services has become quality of their goods and services.
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