Business

Management of a company may face many challenges and complex situations may arise.

some of the challenges that management may face are listed below.

The need for vision

• New technologies
• Changing economy
• Globalisation

The need for ethics and social responsibility

• Ethics deals with both conflict and opportunity in human relationships. Ethics provides the glue that holds our relationships, and the larger society together. Business ethics os a major concern today
• Performance may increase if managers are ethical and work in an ethical environment.

The need for responsiveness to cultural diversity

• Managers must be prepared to deal with diversity at the workplace. More women have incorporated in today's workforce.

The need for training

• Managers have to continually upgrade their management skills through formal education or ongoing practice to maintain high levels of productivity and to keep pace with new technology.