OVERVIEW:
In this assessment you will be undertaking independent research, critical analysis, and application of theory to your findings.
You can follow the Research ReportLinks to an external site. format to write this academic writing. It is expected to have at least 10 relevant recent academic references (not older than 10 years) following the in-text Harvard (author date) referencing styleLinks to an external site. with correct reference list in the reference (bibliography) section. Word count is considered for the body of the report (i.e. from Introduction to Conclusion/ Recommendations of the report). Generally, +/- 10% of the specified word count is treated as normal.
ASSESSMENT TASK:
Leadership is a controversial subject in the global business arena. Go through the resource sites such as the Australian Institute of Management, www.cebglobal.com, the Australian Institute of Company Directors, the New Zealand Management journal, The British Journal of Administrative Management or any other relevant resources and compile your findings to address the following question(s). You are to provide recommendations to the Executive Team of one of the Australian organisations. The Team is expecting your analysis, research findings and recommendations to assist with the recruitment process for the company’s future manager position.
Propose your recommendations for the selection of the future manager in the contemporary organisational setting which enhances company’s employee engagement and talent management.
Considerations for A Future Manager
Introduction
Management is one of the most critical aspects of any organization. Indeed, leadership plays a central role in formulating policies and strategies that can ensure optimal performance and ultimately help the firm attain the desired profits. Therefore, the essential role of management is that failure to adopt the right management practices can occasion losses and threaten an organization’s market share and relevance. Effective leadership thus calls for a comprehensive understanding of management principles and acclimatization with the everyday challenges facing organizations, especially in the wake of fast-changing business dynamics. In particular, business leaders need a good grasp of the present and future organizational challenges in order to devise the most appropriate intervention strategies. Noteworthy, the realities of the 21st century have brought several challenges to the business landscape. Hence, future managers should have a clear understanding of such problems to predict future bottlenecks and formulate the right intervention mechanisms.
Future Management Challenges
The fast-changing business landscape has occasioned far-reaching challenges to the contemporary corporate world hence necessitating the need for innovative management practices that can ensure continued profitability and survival. In particular, globalization has forced organizations to shift from traditional management approaches such as centralization to more flexible methods that can support operations in multiple locations and cultures. Similarly, technology has revolutionized the business management landscape by enhancing efficiency and production significantly. Continuous market changes, such as a shift in consumer tastes and preferences, have also been significant challenges for organizations. Other common challenges facing organizational management include attracting and retaining talent and dealing with generational differences and gaps in the workforce. Whereas the 21st-century managers have tried to address these challenges, their evolving nature means that future managers are likely to face similar, if not more complex problems. A clear understanding of such challenges is thus paramount.
Globalization
Globalization has had mixed outcomes on organizational management. In particular, it has enabled firms to expand their operations to different locations and benefit from a large pool of human resource personnel, ultimately improving efficiency and profitability. However, the expansion of businesses has occasioned massive management challenges. For example, firms operating in different locations face significant challenges creating a competitive edge and improving profitability while keeping operational costs low (Ngige, 2014, 123). Other common challenges of globalization include supply chain management problems and the bottlenecks involved in operating in multicultural environments (Wood et al. 2013, 15). Whereas stakeholders in the management sector have tried to formulate solutions to such challenges, there are chances that such issues will persist as globalization takes root. Consequently, future managers must have a clear understanding of such problems and their impacts to formulate effective intervention strategies.
Technology
The emergence of technology brought significant changes to the business landscape. In particular, the adoption of automated manufacturing processes, advanced communication methods, and different types of advanced software has enhanced organizational performance by improving efficiency and performance, leading to improved profits (Wood et al. 2013, 15). Besides, the use of technology enables firms to reach a wider audience, therefore allowing them to sell goods and services outside their traditional markets. However, despite the assured benefits, technology comes with a fair share of challenges. For example, system hitches and disruptions can occasion massive failures that can undermine productivity. The emergence of cybersecurity challenges is also a significant challenge associated with technology (Conteh and Schmick 2016, 31). For example, compromises in the technological infrastructure can undermine privacy and security. Given the evolving nature of technology and cybercrime, it is expected that future managers might face a similar challenge. In general, such difficulties as compromises in information communication systems and cybercrimes will require future managers to formulate innovative methods that can help address such problems.
Market Changes
Changing market dynamics is one of the challenges facing the contemporary business management landscape. In particular, rapid changes in consumer tastes and preferences require organizations to continually innovate products and services that match the fast-changing market demands (Wood et al. 2013, 15). Other challenges, such as financial crisis, require organizations to continually improve their management practices and reshape their organizational structures to stay relevant and profitable. Unfortunately, regardless of the time and resources invested in managing changes, the unpredictability of the business landscape raises the likelihood of such challenges reoccurring. Consequently, future managers should be adequately aware of such problems in order to formulate the right intervention strategies. In sum, the unpredictable nature of the business landscape will require future managers to devise innovative methods that can ensure survival amidst rapid changes.
Retaining and Rewarding Talent
Retaining top talent is one of the significant challenges facing organizational management in the contemporary world. Indeed, due to the competition for seasoned professionals and talented workers, organizations face substantial difficulties retaining skilled workers as the majority of such professionals tend to shift their loyalty in exchange for better remunerations (Juarez, Santandreu and Marin 2019, 78; Hejase, Hejase, Mikdashi and Bazeih 2016, 507). Besides, the desire for better pay and improved working conditions has made it challenging to establish loyalty among workers, leading to a high staff turnover rate. Juarez, Santandreu and Marin (2019, 78) contend that in the future, increasing competition in the market place will make it challenging for organizational leaders to attract and retain talented workers, ultimately leading to the need for increased collaborative efforts between managers and workers in order to encourage loyalty among workers (Booth, Shin and Slavec 2019, 68; Ott and Michailova 2018). Given the challenges experienced in retaining a competent workforce, future managers will need to devise innovative methods that can help attract talent and retain the workforce necessary to achieve organizational objectives amid fierce competition.
Bridging Generational Gaps.
Contemporary business leaders face significant challenges in dealing with the problems associated with differences in the ages and attitudes of the workforce. In particular, there is a growing gap in the attitudes and capabilities of people from different generations (Nasir 2017, 219). For example, new workers, mostly the millennials and those from Generation Z have fundamental differences from their older counterparts (Percy 2020). While many managers are accustomed to dealing with the older generation of workers, the different sets of beliefs and attitudes of the younger workers make it challenging to control and guide them appropriately (Nasir 2017, 219). Given that the younger generation will soon make up the majority of the workforce, managers need to innovate management practices that resonate with modern culture, attitudes, and beliefs. Therefore, future managers should prepare to deal with the challenges presented by the younger generation of workers.
Recommendations to The Executive Team
The challenges facing the contemporary business world should be a wake-up call for future managers. Indeed, the challenges posed by globalization and the emergence of technology, and those occasioned differences in the attitudes and beliefs among workers of different ages, require organizational leaders to formulate innovative methods that can surmount such issues to ensure the achievement of the desired objectives. Admittedly, many corporate leaders go to great extents to address management challenges. However, despite such efforts solving the common management problems remains a significant challenge primarily due to rapid changes in the business landscape and the evolving nature of such issues. Accordingly, organizations seeking to recruit future managers should consider several factors that demonstrate an individual’s ability to deal with challenges. Factors to consider in this context include an individual’s leadership vision, ability to lead from the front, understanding of technology, and the ability to embrace vulnerability.
Leadership Vision-Differentiating Leadership from Management.
The anticipated future management challenges will require organizational leaders to demonstrate stellar leadership qualities. This means that beyond possessing managerial attributes, one should have high-quality leadership characteristics (Morgan 2014). In order to govern effectively, one should distinguish between leadership and management. Whereas managers oversee by emphasizing adherence to the laid down procedures, leaders lead by outlining their vision for the organization; this means that managers earn followers by commanding respect while leaders command a following based on their idea (Morgan 2014). Given the challenges facing the future management landscape, particularly the problems associated with the younger generation of workers, managers need to go beyond the essential managerial roles to offering quality leadership that can command the respect of all workers regardless of their age attitudes or beliefs. Thus, in recruiting a future manager, an organization should consider not only their managerial qualities but also their leadership traits and ability to earn respect and following.
Understanding Technology
Technology and its related disruptions are some of the challenges facing the contemporary management landscape. Also, challenges associated with technology such as cybercrimes are cited as problems that will bedevil organizational management in the future. Solving these challenges will require organizational leadership that understands the scope of the problem. Although managers do not need to be well versed with all technological issues, a basic understanding of the common challenges occasioned by compromises in the information communication systems can significantly help formulate the appropriate solutions to such challenges (Morgan 2014). For example, given the likelihood of an increase in cybercrimes and other technology-related problems, future managers will need to have a good grasp of technology and associated challenges in order to enact the appropriate solutions. Hence, in recruiting a future manager, an organization should consider their understanding of technology and the ability to adopt appropriate solutions system challenges.
Embracing Vulnerability
Addressing the present and the anticipated management challenges will require a collaborative effort between different stakeholders. Hence, even though the responsibility of formulating policies and steering organizational growth rests with managers, there will be a need to involve other stakeholders (Morgan 2014). Indeed, given that leaders do not enjoy the monopoly of knowledge, accepting input from other parties, especially regarding challenges associated with globalization and technology will enhance a leader’s ability to make informed judgments and enact the appropriate intervention strategies. It is thus imperative for future managers to admit their weaknesses and ask for help whenever they feel that a particular challenge requires broad-based consultations (de Angelo Sanchez and Donadone, 2017, 39). Therefore, when recruiting a future manager, an organization should establish whether the targeted individual is open to learning and input from other stakeholders.
Adaptability
Rapid changes in the business landscape are some of the expected future management challenges. Indeed, constant changes in consumer tastes and preferences, and evolving attitudes and beliefs among workers from different generations will present significant challenges to future managers. Such problems will require leaders to understand how changes impact organizational growth and profitability and devise the appropriate strategies to manage the changes. However, the ability to manage changes will depend on a leader’s openness and adaptability, especially concerning the uptake of new information that can help drive and implement changes (Morgan 2014). Failure to accept new information and methods amid rapid changes can impede one’s ability to enact meaningful reforms. Therefore, adaptability to change should be a significant consideration when recruiting a future manager.
Conclusion
Generally, the modern business management landscape contends with various challenges that undermine efficiency and service delivery. Chiefly among these challenges include globalization and technology. Whereas these two present organizations with numerous benefits, they come with their fair share of problems that undermine management in various ways. For example, on the one hand, globalization presents significant logistical challenges hence requiring managers to come up with innovative ideas that can help surmount the related difficulties and ensure profitability. On the other hand, technology raises serious security concerns, such as cybercrimes. Whereas managers try their best to address these concerns, the evolving nature of such challenges makes it difficult to address them adequately. This means that future managers will contend with similar, if not more complicated, challenges. In order to minimize the impacts of such problems, future managers should possess stellar leadership qualities and not just managerial skills. Precisely, they should be in a position to earn following and loyalty through their visions in order to manage their organizations effectively. Adaptability to changes and a basic understanding of technology are also crucial attributes that future managers should possess.
Reference List
Booth, M., Shin, H. and Slavec, A., 2019. Human resource management challenges in a Slovenian social enterprise: a case study. International journal of human resource development practice, policy & research, 4(2), pp.65-81.
Conteh, N.Y. and Schmick, P.J., 2016. Cybersecurity: risks, vulnerabilities and countermeasures to prevent social engineering attacks. International Journal of Advanced Computer Research, 6(23), p.31.
de Angelo Sanchez, J.P. and Donadone, J.C., 2017. Organizational elites and the discourse of flexibility: will be the consultants in the future managers? Corporate Ownership & Control, 14(6), p. 34-44.
Hejase, H.J., Hejase, A.J., Mikdashi, G. and Bazeih, Z.F., 2016. Talent Management Challenges: An Exploratory Assessment from Lebanon. International Journal of Business Management & Economic Research, 7(1).
Juarez Tarraga, A., Santandreu Mascarell, C. and Marin Garcia, J.A., 2019. What are the main concerns of human resource managers in organizations? Intangible Capital, 15(1), pp.72-95.
Morgan, J., 2014. The future manager. Forbes, 2014. Available from: < www.forbes.com/sites/jacobmorgan/2014/11/20/the-10-principles-of-the-future-manager/#81ac58862de2 [21 July 2020].
Ngige, C.D., 2014. The challenges facing management today and tomorrow. Coou interdisciplinary research journal, 1(1), pp. 121-124.
Nasir, S.Z., 2017. Emerging challenges of HRM in 21st century: A theoretical analysis. International Journal of Academic Research in Business and Social Sciences, 7(3), pp.216-223.
Ott, D.L. and Michailova, S., 2018. Talent management challenges and possible solutions for New Zealand businesses. New Zealand Journal of Human Resources Management, 18(2), pp.19-32.
Percy, S., 2020. An International Perspective: Top Leadership Challenges For 2020, Forbes, 2020. Available from: < www.forbes.com/sites/sallypercy/2020/01/02/an-international-perspective-top-leadership-challenges-for-2020/#4982f4c6d0c9 [21 July 2020].
Wood, J., Zeffane, R., Fromholtz, M., Wiesner, R., Morrison, R., Seet, P.S., Schermerhorn, J., Hunt, J. and Osborn, R., 2013. Organisational behaviour: Core concepts and applications. John Wiley & Sons.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
