The Future Of Management Essay

938 words - 4 pages

The future of management is changing rapidly. Starting at the end of the 20th century, corporations began restructuring themselves. The introduction of the Internet, advances in technology, globalization, diversity, and social responsibility have forced many companies to rethink old management styles and look for more innovative ways to compete for their market share. This rapid change has left many companies on the decline because they either were not willing or were not ready to adapt to such rapid change, and it caused stagnation. Because our world is constantly changing, corporations must not only face the changes presented today, but also be aware and be able to adapt to the changes of tomorrow.The Four Functions of Management are the core foundation for business management today. However, because the only thing that is constant is change itself, these functions should not be the only principles taken into consideration to help achieve success. As companies become more technologically advanced, and the global market continues to change, so will the definition for The Four Functions of Management.To understand the difference between management and leadership, a quick look at their definitions is useful. The Oxford English Dictionary defines management as "Organization, supervision, or direction; the application of skill or care in the manipulation, use, treatment, or control (of a thing or person), or in the conduct of something" (management). Leadership is defined as "[...] ability to lead; the position of a group of people leading or influencing others within a given context; the group itself; the action or influence necessary for the direction or organization of effort in a group undertaking" (leadership). So generally speaking, management is the application or function of controlling others, whereas leadership is the relationship between leader and follower - the leader is the one to guide others.Leaders help their followers to achieve success by removing obstacles and making sure they have the right skills and resources provided to them. They share information and authority to make decisions, challenge them to meet difficult goals, and express confidence in their ability to meet those goals. Good leaders offer rewards and recognition for past performance as well as using them to serve as a motivation tool for achieving future success.The future of management will have to deal with a variety of issues. One of these issues is diversity. A more diverse workforce is occurring since more minorities are receiving a higher education and demanding (rightfully so) an equal opportunity to succeed. Diversity will only accelerate in the future, and will be reflected by rapid progress in the workplace for women and minorities. According to Roger Selbert, a futurist and publisher of Growth Strategies, "Women will continue to make inroads in the...

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