The Role Of Management During The 21st Century : Challenges And Opportunities

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The role of Management in the 21st century: Challenges and Opportunities The development in management studies has flourished largely; it is with no doubt that the internet and information technologies have caused this major development. On one hand, the classic management practices became less effective in organisations. On the other hand, the effects of the global economy have introduced new management concepts that shape the world business activities. Historically, the industrial revolution generated most of the managerial principles. For instance, the financial department concern about the return on investment, while the marketing department focuses on the marginal profit and market shares. The strategic division pursues a competitive positioning and profitability, since the human resource department concern about the employees ' motivation, rewards and performance. It could be argued that the main reason of organizations success rely heavily on successful managers. By which means if the overall activities coordinated efficiently it will result in a high level of organisational performance. Nowadays, the theories and practices in modern management have proposed that the role of leadership gives manager more extended responsibilities. In response to the complexity of today’s business issues such as the dynamic changes in economic, politics and social challenges requires managers to react and respond promptly. This essay will consider different views with respect
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