Management Challenges for the St 21 Century free essay sample

Historically, the Holy Grail of management was there’s a right way to manage people and if you follow that, everything will work out fine. While this sounds enticing, it is totally at odds with reality. The focus should not be on managing people it should be centered on getting people to work together to produce more results than they could have by working alone. That requires leadership rather than management. 4. Management policy and strategy should focus exclusively on customer values and distribution of their disposable income rather than being technology- or market segment- based.In the last century, industries formed around new technologies to serve a well defined set of end users. In the next century, new technologies will emerge that will impact a broad number of industries and thus significantly changing the target markets. In the new environment, customer values and customer preferences (particularly in relation to the allocation of disposable income) become far more decisive factors than technologies or customer demographics. We will write a custom essay sample on Management Challenges for the St 21 Century or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 5. The scope of management is not limited solely to the organization itself, but should address the entire process by which added value is delivered to to consumers.From that broader perspective, many operational issues, including the possibility of strategic alliances and other synergy adding activities, come under the direct attention of managers rather than being left to chance. 6. National boundaries are now considered as important logistical constraints that must be managed rather than political boundaries the organization must be structured around. Few companies now organize themselves in domestic and international units. More and more companies organize themselves as transnationals, where individual tasks are organized company wide rather than country wide. 7.There is now a blurring of the lines between management and entrepreneurship. Most entrepreneurs realize without management skills, they will not succeed. Similarly, most managers know that unless they innovate, they will be overtaken by competitors. Thus, instead of having managers that focus on internal issues, most organizations expect their current generation of managers to concern themselves with how best to use the resources available to achieve external results in the broader marketplace. And, the new paradigm is to hold managers directly responsible for how the organization performs in the marketplace.Key Thoughts ‘‘Basic assumptions about reality are the paradigms of a social science, such as management. They are usually held subconsciously by the scholars, the writers, the teachers, the practitioners in the field. Yet those assumptions largely determine what the discipline assumes to be reality. For a social discipline such as management, the assumptions are actually a good deal more important than are the paradigms for a natural science. The paradigm that is, the prevailing general theory has no impact on the natural universe. A social universe has no natural laws. It is thus subject to continuous change.