Answer to Question #249293 in Management for Abdullah

Question

Challenges faced by the manager in your own words now a days?Explain

Answer 1

The following are five main challenges faced by managers in an organization nowadays; Globalization, Quality and Productivity, Ownership, Environment, and Strategy Formulation.

Firstly, almost all home companies face the challenge of competition with their international counterparts. Globalization means that activities be managed from an overall global perspective as part of an integrated system. Regionalism involves managing within each region with less regard for the overall organization. It therefore becomes a challenge to managers to decide whether to focus on globalization or regionalism.

Managers also face the challenge of quality and productivity.  Companies compete with international competitors with respect to quality and productivity of goods and services. Managers should therefore focus on producing more and better with fewer resources.

Thirdly, managers also face the challenge of ownership. This is because large foreign investors are buying stocks of home companies and ownership can be transferred in their hands and this can make the managers to suffer.

Fourthly, there is the challenge of Environment. Environment is changing at a fast rate and organizations have to change with the competitive environment to maintain their customers and this becomes a challenge to managers.

Last but not the least managers face the challenge of strategy formulation. Since strategies keep changing according to environmental changes. This therefore keeps managers to be constantly involved and promote healthy interaction between the organization and the environment.