Seminar paper from the year 2004 in the subject Business economics – Business Management, Corporate Governance, University of Phoenix, language: English, abstract: Thanks to globalization, today’s business world is increasingly competitive. In fact, “today, organizations around the globe are operating in an unprecedented, highly competitive seller′s market.“ Because of this competitiveness, management’s role is an evermore-crucial component of the organization’s success. Management is the driving force behind the organization. They not only establish the direction in which the company will go, but also they are responsible for leading it’s fellow members on that course towards the end goals they’ve created.
By discussing the innovations in corporate management, one can better predict what may be needed for an organization to be successful in the future, as well as how the role of management may change. Emerging management concepts need to be included in this analysis, as well as the changing demographics of today’s workforce. The next step is to then evaluate how these trends will affect the four basic functions of management, planning, organizing, leading, and controlling.
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