EMERGING ISSUES IN MANAGEMENT

1. Globalisation : The ‘Globalisation’ means the

integration of our economy with the world economy.
Globalisation involves an increased level of
interaction and interdependence among the various
nations of the global economy. As a result of
globalisation physical boundaries and political
boundaries remained no barriers for business
enterprise. Globalization made the world a global
village.

2 .Ethics and social responsibility: The concept of

social responsibility is not new. As an organisation
management has social responsibility towards
various interest groups such as owners, employees,
government ,customers etc. The issue of business
ethics is increasingly addressed in conferences and
seminars. Managers , especially top managers do
have a responsibility to create an organizational
environment that fosters ethical decision making by
establishing ethics. Managers should also take any
opportunity to encourage and publicize ethical
behaviour .

3.Technological development : It refers to changes

taking place in the method of production, use of new
equipment and machineries to improve the quality of
product. Technological development also develops
the concept of a competitive market among
manufacturers and suppliers. Technological changes
always bring quality improvement and more benefits
for customers. Thus, modern means of
communication should be used to inform with
customers.

4. Innovation and change: Management had to

adapt changes taking place in environment. An
organisation needs to constantly innovate to
succeed.
 Innovation is about making things better, faster, or
cheaper than your competition. It drives ongoing
improvements and may help unleash a new idea
that changes the rules. Rapid innovations are taking
place in technology, product and service. At present
managing change is a critical challenge to the
managers. Change may occur in an attitude and
behaviour of stakeholders like competitors,
customers, employees and suppliers.There is
change in external environment, political and legal,
socio-cultural, economic and technological
environment change rapidly.

5. Workforce diversity: It is a major issue in the

management. The workforce is increasing in
organizations today because of changing population
dimensions. There are several dimensions of
diversification however the important ones are
age ,gender and ethnicity. The diversification in the
workforce can affect the organization differently.
They work together to meet their common and
professional goals or objectives. Therefore, the
involvement of multicultural people having different
traditions, values, social attitudes, religious beliefs,
and living approaches creates a new challenge to
the manager.