Challenges
The business environment is ever changing with time causing trouble to managers in their day to day managing. There are various areas within an organization that causes a lot of trouble to management when they are making decisions. Resource availability is one are that create problems for the organizational managers when managing. Organizational resources may include capital and human resources. Capital inadequacy is a common problem to every organization and so is to the managers. Inadequate financing within an organization makes it hard for the managers to plan for the future of the company. This is because the managers have to work with the capital available. Making decision under such a circumstance becomes very difficult for the managers (Burrow and Brad 234).
Also, the human resource is another area that gives managers challenge when managing. The workforce of an organization plays a great role in determining the success of the organization. However, their productivity is subject to the efforts put in place by the management. For example, getting qualified and competent workforce is a great challenge with the emerging changes in business environment. Besides, motivating the employees to enhance deliverance of quality and good services is a big challenge to the managers. Decision making is also difficult due to some of the personnel of the organization.
The handling crisis within an organization is one area that challenges managers in ensuring effective management of the organization. The diverse nature of management and uniqueness of the members of an organization occasionally lead to the development of the crisis. Besides, change in business environment is the most area that leads to the creation of crisis within an organization. For instance, changes in economic conditions such as increased inflation rates pose a lot of management challenge to the managers. Managers plan and allocate resources for every fiscal year implying that any change that comes within the fiscal year affects the plans adversely. In such situation, managers have to come up with an action plan which is very challenges. On the hand, a change in weather leading to disasters such as floods and earthquakes also present managers with managers with problems that were not anticipated thus affecting the plans.
Organizational Culture
The organizational culture of the organization is dynamic implying that it changes with time. The values, assumptions, and beliefs that regulate the behavior of people within an organization are ever changing depending on the new changes arising in the world. Managers are ever committed to enhancing a diverse culture in the organization with an aim of ensuring continuous improvement. To ensure diverse organizational culture, the managers need to make changes in the process, providing a conducive working environment and enhancing employee motivation. Changing the process of the organization require proper research work, decision making, planning and provision of required resources. Such a move is very demanding and challenging for the managers since it is costly. Creation of both better-working conditions for the employees and employee motivation is also challenging because each employee is unique (O'Driscol and Fiona 246).
Managing globally
Challenges in managing organizations globally arise due to different in business environments. The world markets present various issues to the managers that affecting their management of their organizations globally. For instance, international laws differ significantly with domestic laws thus exposing managers to varying legal requirements that affect the management of their business as their organizations enter the international markets.
For example, some nations will want foreign manufacturers to use various symbols when they are branding their products. For example, Arabic nations will require the manufacturers to use their language when branding the products. In some cases, such requirements may be hard to meet thus posing challenges to organizational managers. The same problems arise when dealing with foreign exchange which is ever fluctuating thus affecting proper planning by the management.
Change in economic conditions and non-economic conditions are crucial in pose challenges to the managers as they focus on managing globally. Economic conditions such as changes in foreign exchange, interest and inflation rates may be uncertain to managers planning. There occurrence within a specified time without any expectation strain managers in making changes in their plans. On the other hand, non-economic conditions may involve taxation, export, and import, industry, monetary and fiscal policies adopted by different nations. Managers face a challenge as they focus and plan in making their policies to match with those in the international market (Dźwigoł 178).
Political instability and cultural differences are other areas that challenge managing globally. In some nations, the political drive is very influential for organizations that want to venture into them. Complexity in such nations affects negatively the planning of organizational managers something that may make them not to venture in such nations. On the other hand, the rise terrorist attacks in the world are another disaster that presents managers with an unexpected crisis that affect business operations. For instance, the bombing of the World Trade Center in the U.S. was unexpected and affected businesses adversely. On the other hand, different cultures of the world have different preferences and norms. As a result, they force managers to have varied preferences for their businesses to survive in the world market. Meeting such preferences by the organizational managers is uneconomical hence hinder effective and efficient planning.
Opportunities
The world is ever evolving thus presenting managers with new opportunities to exploit. Advanced technology taking place around the globe is one opportunity that managers need to consider enhancing efficiency in their organizations. Advanced technology affects the way of doing business in the world. It affects production, human resource management, accounting, and finance as well as the marketing of products. This implies that the management of the organizations is affected directly by such changes. Managers need to embrace technology in its units as a way of enhancing organizational efficiency and performance (Dźwigoł 214).
For example, managers need to use technology in enhancing their marketing. Digital marketing is a new opportunity that the managers need to use to cut edge in competition. The management can develop software and website through which it can market its products and communicates with its consumers. The marketing managers can use the website to display their products and services and allow their customers to create accounts through which they can communicate with them. Also, the managers can use the social media network such as Twitter, Facebook, and WhatsApp to advertise their products and services. It is an economical way of marketing products and services as well enhancing the customer base.
Furthermore, managers have a great opportunity to venture into emerging world markets. Every business organization in the world focuses on growing and developing to greater heights in the future. New markets are still evolving in the world that presenting the managers with a good opportunity of advancing their business products and services to those areas. For example, China and India are some of the evolving world economies with a large population of people. The large population is a ready market that organization need to venture. Further venture to evolving markets in the world helps the organization to enhance their customer base thus increasing their revenues.
Works Cited
Burrow, James L., and Brad Kleindl. Business Management. Mason, US: Cengage Learning, 2012. Print.
Dźwigoł, Henryk. Business Management. Oxford, U.K.: Alpha Science International, 2015. Print.
O'Driscoll, Nina, and Fiona Scott-Barrett. Business Challenges. Harlow, Essex: Longman, 1995. Print.
