In the 21st century workplace, managers are confronted with several challenges such as: rise in intellectual and more educated prospects (intellectual capital), globalization, progress in technology, diverse work environments, and the maintenance of ethical values. Managers should be aware of uprising challenges in order to cope with evolution of business. Awareness of such difficulties would allow one to rationalize common issues and possibly derive to logical conclusions. It would enable managers to foresee certain dilemmas and facilitate coherent choices; whereas, being ignorant to the economic evolution might induce illogical and unreasonable choices. The intellectual capital would definitely be a beneficial contribution to the business society. In the age of information, there is a larger congregation of intellects, producing a much academically intelligent workforce. Awareness of the intellectual capital is crucial in order to acquire a business possessing of highly intellectual individuals, which would probably be efficient to business requiring knowledgeable characters. The franchising of companies is a key indicator of globalization. A more globalized company has a broader scope for customers, which eventually would result in a higher income. Adhering to globalization would essentially commercialize the company itself. For example, McDonald's is a world famous company. Though they still advertise their latest products, the company name has essentially advertised itself worldwide through globalization. Company managers must be equipped with the latest technology. Technology exists in order to mitigate the suffering caused by labor work, and to transform it in order to accommodate one's convenience. Possessing the latest technological devices or upgrading to higher technological standards would ease the labor, allowing work to be more efficient for the workers. Diversity in the work environment is a prominent issue. Managers shouldn't be concerned about a person's race, gender, sexual orientation, etc. One should simply learn to tolerate everyone's varying characteristics, and be more focused on hiring employees who can efficiently complete an assigned job. Strenuous conditions in the workplace might cause certain managers to succumb to unethical practices for various reasons. It is key to constantly practice and maintain a high ethical level, as this will prevent any future mishaps from occurring. Unrighteous conduct might even result in more stress when the act is exposed; therefore, it is only wise for behave ethically in all instances. With a high intellectual capital level, prospected workers must update their skill portfolios in order to remain a valuable resource to any organization. Failure to meet the criteria might result in a dismissal.
Define the three levels of management and explain the major responsibilities of managers at each level.
Most organizations have three management levels:
Middle-level managers; and
These managers are classified in a hierarchy of authority, and perform different tasks. In many organizations, the number of managers in every level resembles a pyramid. Below, you'll find the specifications of each level's different responsibilities and their likely job titles.
The board of directors, president, vice-president, and CEO are all examples of top-level managers. These managers