Premium Essay

Future Management

In:

Submitted By bettttt
Words 2062
Pages 9
HOW WILL MANAGER AND LEADERS NEED TO ADAPT TO THRIVE FOUR YEARS FROM NOW?

NAME
COURSE
TUTOR
DATE

Leadership can be described as a character that is individualistic or with a difference, but rather it is depicted by many as shared, global, strategic, complex, dyadic, and rational. Businesses, non-profits, educational organizations and government agencies need the type of leaders who can navigate some complex and changing situations in the future effectively. Some of the questions that most of the leaders in business need to ask themselves are what they need to do, and they should access whether they are equipped to do the tasks that await them.
For any leader in an organization to develop and build strength in leadership for the future, they will first need to know all the elements in leadership that will be valued and needed in the organization that they work. The other aspects that should be under consideration are the roles that the organization is likely going to consider as critical. The point may be obvious, but it is an aspect that future leaders need to understand because most companies spend a lot of time and money when trying to define the needed competencies.
Before determining the extent to which some of the today’s leaders are equipped when we consider some of the challenges that they are likely to face in the future, there is the need to gauge some of the current leadership strength. Some of the trends include strategic planning, employee development, resourcefulness, leading people, and inspiring commitment.
For most of the future managers, they should consider that there is a deficit when it comes to the skills needed in leadership. They should consider that the gap between the future leadership and the current leadership and their bench strength is a serious liability. The sooner any leader can understand some of the realities of the situation in

Similar Documents

Premium Essay

The Role of Oil Futures in Risk Management

...FInTHE ROLE OF OIL FUTURES IN RISK MANAGEMENT From: To: Senior Management - Airlines Company November 2011 0 University of Westminster - Westminster Business School International Risk Management COURSEWORK THE ROLE OF OIL FUTURES IN RISK MANAGEMENT Student: Student ID: Course: Word count: MSc. Finance and Accounting 2557/2617 1 EXECUTIVE SUMMARY In the world today, oil is being used as the main source of energy for a lot of core industries. Due to its non-renewable characteristics and the global rising demand, oil has increased in its value, which results in many oil price crises recently. For all those industries using large amount of oil in operation, the risk of rising oil price is an extensive problem. The most efficient method to hedge against this risk is by using oil futures contracts. Because of its effectiveness, oil futures contracts are playing a key role in risk management for a number of industries including transportation and manufacturing. This report provides principal knowledge about oil futures and its role in hedging the risk of oil price volatility. A case study of US airline industry with most updated data obtained from Bloomberg system is also discussed, which suggests the effectiveness of oil futures in risk management for most airlines companies. However, in some case, the inflexible use of oil futures may create a burden in financial costs while not producing effectiveness in risk hedging. 2 TABLE OF CONTENTS LIST OF...

Words: 3635 - Pages: 15

Free Essay

Trends of Future Management

...Introduction Total Quality Management (TQM) is an approach that seeks to improve quality and performance which will meet or exceed customer expectations. This can be achieved by integrating all quality-related functions and processes throughout the company. TQM looks at the overall quality measures used by a company including managing quality design and development, quality control and maintenance, quality improvement, and quality assurance. TQM takes into account all quality measures taken at all levels and involving all company employees. TQM focuses strongly on the importance of the relationship between customers (internal and external) and supplier. These are known as the "quality chains" and they can be broken at any point by one person or one piece of equipment not meeting the requirements of the customer. Failure to meet the requirements in any part of a quality chain has a way of multiplying, and failure in one part of the system creates problems elsewhere, leading to yet more failure and problems, and so the situation is exacerbated. Trends of Future Quality Management The concept of customer value represents a dramatic improvement over the traditional approach to quality, the “comformance to specified standards” approach. It extends the concept of quality include user perceptions and use consequences. However, it still falls short of the concept of Total Quality, which stresses the importance of quality in every aspect of an organization. Perhaps the Japanese...

Words: 1895 - Pages: 8

Free Essay

Trends of Future Management

...Title: Trends of Future Quality Management Introduction Total Quality Management (TQM) is an approach that seeks to improve quality and performance which will meet or exceed customer expectations. This can be achieved by integrating all quality-related functions and processes throughout the company. TQM looks at the overall quality measures used by a company including managing quality design and development, quality control and maintenance, quality improvement, and quality assurance. TQM takes into account all quality measures taken at all levels and involving all company employees. TQM focuses strongly on the importance of the relationship between customers (internal and external) and supplier. These are known as the "quality chains" and they can be broken at any point by one person or one piece of equipment not meeting the requirements of the customer. Failure to meet the requirements in any part of a quality chain has a way of multiplying, and failure in one part of the system creates problems elsewhere, leading to yet more failure and problems, and so the situation is exacerbated. Trends of Future Quality Management The concept of customer value represents a dramatic improvement over the traditional approach to quality, the “comformance to specified standards” approach. It extends the concept of quality include user perceptions and use consequences. However, it still falls short of the concept of Total Quality, which stresses the importance of quality in every aspect...

Words: 1899 - Pages: 8

Premium Essay

The Future of Emergency Management

...The Future of Emergency Management Jeffrey C. Jones Case Studies in Natural and Man Made Disasters Professor Charles Kocher July 16, 2012 Abstract Emergency managers have historically been just that, managers of emergency situations. As the field of emergency management changes, more and more emphasis is being placed on the prevention of the emergency all together. This paper will lay out the frame work of emergency management in terms of total reorganization. The current model although tweaked many times is still response heavy, the new model will be more prevention and mitigation based, as will call for the total overhaul of conventional emergency management. Introduction The American public as an expectation that be it private or government on any level professional responders and emergency managers should be capable of handling any and all types of emergencies. They have an expectation be it fair or not that these responders should execute these responses without error. This expectation is only further fueled by popular television programs that depict stoic emergency managers that handle the large events everyday. In addition to emergency managers the same could be said about military commanders, and political leaders. The odd coincidence is that this was also the key duty that emergency managers have always focused on. The thought was that if a manager handles the call or...

Words: 2787 - Pages: 12

Premium Essay

The Significance and Future of Scientific Management

...The significance and future of scientific management 1. Introduction More than a hundred years from the first publication of “ the principles of scientific management” by Frederick W. Taylor, the founder of scientific management, came into the public (Evans and Holmes, 2013). According to Hales (2013), scientific management was defined as a broader adaptation and extension of Taylor’s principles publicized by his followers. These Principles could be described into mainly three parts. Firstly, there should be new scientific methods for each element of labor to replace the antiquated management method mainly on the basis of experience. Secondly, the selection of workers should be scientific and the employers have the duty to training and educating their employees. Thirdly, cooperate with workers and ensure that all work could be finished step by step. The purpose of this paper is to discuss the significance and future of scientific management. It starts with the contribution of this theory as well as the humanistic criticism of it. Finally, the author gave an introduction of the new modern scientific management and tried to provide a different view of scientific management and explore another kind of patterns of it. 2. The Significance of Scientific Management 1. Efficiency and Economic Development It is impressive that scientific management did bring the improvement of efficiency in enterprises and workers’ welfare. A set of statistics shows that the manufacturing output per...

Words: 2192 - Pages: 9

Premium Essay

The Future of Chinese Management Research

...Management and Organization Review 5:1 75–89 doi: 10.1111/j.1740-8784.2008.00137.x The Future of Chinese Management Research: Rigour and Relevance Redux Mary Ann Von Glinow1 and Mary B. Teagarden2 1 Florida International University, USA, and 2Thunderbird School of Global Management, USA ABSTRACT We use the parable of the blind men and the elephant to suggest that Barney and Zhang (2009) and Whetten (2009) analogously touch on only a part of the Chinese management research puzzle. Their analyses remind us of many attempts at anchoring the research purpose – etic versus emic approaches, exploration versus exploitation approaches, rigor versus relevance scenarios – touched on by the many commentators in this issue. We suggest researchers first answer the ‘purpose’ questions before embarking on the research design. The research design should fit the purpose of the knowledge, which is either to improve the performance of Chinese organizations (meeting the relevance criterion) or to replicate, extend or refine a theory developed in the US (meeting the rigour criterion). We believe the strength of applied management research allows us to create knowledge that can meet the criteria of both rigour and relevance. We support the use of academic international research teams and dialectic debate as tools to move the field of Chinese management research forward. KEYWORDS context, polycontextuality, relevance, research team, rigour It was six men of Indostan To learning much...

Words: 7229 - Pages: 29

Premium Essay

The Future of Corporate Performance Management

...The Future of Corporate Performance Management Abstract Adaptive Planning is a Corporate Performance Management system that has foreseen the future of IT. They have adapted a full service CPM system which can accommodate customers from beginning to end. The “cloud” has become a vital asset to the selling point which will forever change IT as we know it. This new system has allowed companies to “Dramatically reduce budgeting and forecasting cycle times by up to 90%” (Product Overview). “Allowing them to make faster, more informed and better decisions” (Product Overview). This paper will discuss the alternative of cloud computing and many of the other assets to automating the CPM cycle. We will discuss Bridon American Corporation’s (BAC’s) process of forecasting, budgeting and financial reporting prior to implementation and after implementation of Adaptive Planning. Keywords: forecasting, budgeting, financial reporting, cloud computing The Future of Corporate Performance Management “Corporate Performance Management is a cycle that begins with budgeting and continues to comparison of actual performance against the plan” (Product Overview). “Reports and dashboards are used to analyze real-time data, and compare it to what was planned. Based on this analysis, the cycle begins again, with what-if analysis and re-forecasting” (Product Overview). “A truly integrated and automated cycle has tight collaboration among managers throughout the organization, as well as tight integration...

Words: 2174 - Pages: 9

Premium Essay

The Future of Human Resource Management

...Human Resource Management is the process of “getting keeping, and growing good people.” (Mike Losey, 2005) As people look to the past of Human Resource Management, they must also look at the changes needed to perform the duties in the future. Technology, society, and business have changed over time causing the duties of a Human Resource Manager to change. In the past, many employees and companies shared a common loyalty for each other that made the staff members dedicate their lives to the same company. That has now changed with people moving from company to company in search of experience and the challenge to improve their resume. As the position moves into the future, each manager needs to realize that they have to be able to wear many different hats. In order to obtain qualified employees, an HR Manager should have an understanding of every aspect of the company. The position of a Human Resource Manager is always revolving into a new aspect of the company. In order to progress into the future of HR, professionals must look into the past. This will allow companies to anticipate issues that may arise and avoid outcomes that were produced in the past. As companies move into the future, they need to create a network of recruiting that does not force them to weed through tons of applicants. In the past, access to qualified individuals has been limited to a local area, but the future offers technology that opens the door to applicants worldwide. Using the older method of recruiting...

Words: 2470 - Pages: 10

Premium Essay

The Future of Marketing Management

...Mart 302 Essay The Future of Marketing Management Name: Ge Wenbo ID: 7241137 Tutor: Ming Wong Tutorial time: Friday 2 pm Introduction “The organizational environment has two components: general environment (comprising economic, technological, regulatory, and socio-cultural sectors) and market environment (comprising customer and competitor sectors) (Fahey and Narayanan 1986).Most organizations are susceptible to volatility in their market environment because changes in customer expectations or competitor actions can directly affect their performance (Boyd and Fulk 1996). Shifting market structures and competitive dynamics have compelled organizations to collect, analyze, and act on information from their market environment at an increasing pace (Eisenhardt 1989). It is evident that environmental change is an issue that has strong implications for organizations through its extensive debate in business literature. This essay will endeavor to identify and explain why Internet emerge that have taken place in the external environment is important to the air travel industry, and discuss the likely impact on air travel industry and how marketing might be applied to create a solution, and finally this essay will comments about the effect of Internet on the future of marketing. Discussion Fewer than ten years ago, commercial use of the Internet was considered improper. From 1969 to early 1990s, the Internet was restricted to military, academic, and a few corporate...

Words: 2452 - Pages: 10

Premium Essay

The Future Challenges of Healthcare Management

...THE FUTURE CHALLENGES OF HEALTH CARE MANAGEMENT Timan Wainaina Essay March 5, 2016 Health care management denotes the management of clinical information technology and human resources to deliver optimal health care. The health care sector is a very extensive one because it encompasses preventive care, emergency services, follow-up, and rehabilitation. Forecasting the future of health care may be seen as an imperfect and challenging exercise. However, it is important in order to improve quality health, revenue, reducing expenses, and improving customer satisfaction. Based on past experiences, the health care industry is on the brink of an inevitable change. This essay examines some of the trends that are likely to pose future challenges to the delivery of health care throughout the world. The first threat likely to be encountered by the sector is the rising health care costs. The costs are expected to hit the roof due to increased expenditures in the sector. Some of the dynamics that may lead to an increase in health care expenditure include a rise in the number of medical practitioners’ remunerations and increased state budgets for financing research...

Words: 623 - Pages: 3

Premium Essay

Future Challenges for Healthcare Management

...Future Challenges for Health Care Management The scope of health care management encompasses administrating how services get delivered to patients, persons delivering services, locations to which services get delivered, and the financing of all involved procedures. In these, institutions like nursing homes, rehabilitation centers, public hospitals, and private clinics get involved. At the same time, groups of service providers and associations play instrumental roles in controlling the quality of services and procedures of implementation (Gururajan, 2012). Thus, health care management encompasses the organization and administration of individual physicians, associations, involved institutions, and control of funds. Quintessentially, the challenges that affect the health care industry concern the functionality of one of these elements. It is worth noting that the industry has continuously faced various challenges related to diseases, aging, health care insurance, and human resource limitations (Benington, 2014). The future challenges for health care management include securing adequate finances for health care operations, training adequate human resources, managing an increasingly aging population of patients, and controlling emerging chronic diseases. Despite the fact that most world economies have grown substantially, health care sectors have remained underfinanced across the world. Perhaps, the nature of services in this sector requires large recurrent amounts of money to...

Words: 716 - Pages: 3

Free Essay

Options, Futures and Risk Management

...BFF9515 Options, Futures and Risk management Group assignment Semester 1, 2014 Due date: 16.05.2014 BFF5915 Group Assignment Part 1 1. Compute Beta * Method: First, compute the returns of each stocks and the return of the index. They can be calculated using excel with the formula: (current price / the previous price) – 1, Second, use covariance and variance function in excel to calculate the beta of each stock. Third, multiply each beta with the corresponding weight to calculate the portfolio beta. * The beta for each stocks and the beta for portfolio (see table 1.1) Details can be seen in sheet “EquityReturnData” in the data file “Data.xlsx”. Table 1.1 The Beta(s) of Stocks and Portfolio Name | Code | Weight | Beta | CROWN RESORTS | 51333T(RI) | 7.25% | 0.8039 | COMMONWEALTH BK.OF AUS. | 314054(RI) | 7.26% | 0.8950 | NATIONAL AUS.BANK | 901842(RI) | 3.74% | 1.1317 | COCHLEAR | 871051(RI) | 3.96% | 0.8402 | WESTFIELD GROUP | 912307(RI) | 2.56% | 0.7096 | TELSTRA | 871685(RI) | 4.60% | 0.5050 | MACQUARIE GROUP | 865438(RI) | 4.36% | 1.4238 | INVOCARE | 28047X(RI) | 3.87% | 0.7210 | FLIGHT CENTRE TRAVEL GP. | 871048(RI) | 4.28% | 1.0063 | CSL | 131775(RI) | 4.89% | 0.6488 | SLATER & GORDON | 50509L(RI) | 4.79% | 0.3001 | JB HI-FI | 27736M(RI) | 4.50% | 0.8261 | CARSALES.COM | 67967W(RI) | 4.54% | 0.8459 | WOOLWORTHS | 322714(RI) | 4.86% | 0.5500 | FORTESCUE METALS GP. | 314160(RI) | 7.15% | 1.8687 | The Portfolio...

Words: 2147 - Pages: 9

Free Essay

Prospective Financial Information

...of financial statements is to provide users information about the entity’s financial position, performance and changes to its financial position and financial statements show the financial effects of historical events and do not provide non-financial information. [5] Hence, both internal and external users need both historical and forward-looking information in order to make better financial decisions. Internal users like the Management can use forward-looking information to analyse out an adequate valuation on whether to increase, hold or sell their investment. Likewise, external users like investors who want reasonable return on their investment can use forward-looking information to evaluate the sustainability of future entity performance and analysing the feasibility of investing in the company Going beyond historical financial reporting This forward-looking information is called prospective financial information. Prospective financial information relates to financial information which based on assumptions about events that may occur in the future and possible actions by an entity. Prospective financial information can be in form of a forecast or...

Words: 1507 - Pages: 7

Premium Essay

Presentation to Stakeholders

...and representatives from the marketing and art departments to design the current year’s annual report. Required Write a paragraph in which you present the main idea(s) you think the company should present to shareholders in the annual report. Financial statement analysis from the standpoint of management relates to all of the questions raised by creditors and investors because these user groups must be satisfied in order for the firm to obtain capital as needed. Management must also consider its employees, the general public, regulators, and the financial press. Management looks to financial statement data to determine: How well has the firm performed and why? What operating areas have contributed to success and which have not? What are the strengths and weaknesses of the company's financial position? What changes should be implemented in order to improve future performance? Financial statements provide insight into the company's current status and lead to the development of policies and strategies for the future. It should be pointed out, however, that management also has responsibility for preparing the financial statements. The analyst should be alert to the potential for management to influence the outcome of financial statement reporting in order to appeal to creditors, investor’s, and other users. It is important that any analysis of financial statements should include a careful reading of the notes to the financial statements, and it may be helpful to supplement the analysis...

Words: 425 - Pages: 2

Free Essay

Office of the Future

...benefits, features, and other aspects of office of the future? Some of the benefits, features, and other aspects of a virtual office that I want to take a look at are: the definition of a virtual office, technology and it’s role, people’s view of the future office, Microsoft’s view, an effective workspace, the flexibility of a virtual office, and what you might find/see in your office of the future. “A virtual office is a combination of off-site live communication and address services that allow users to reduce traditional office costs while maintaining business professionalism.[1] Frequently the term is confused with “office business centers” or “executive suites” which demand a conventional lease whereas a true virtual office does not require that expense” (http://en.wikipedia.org/wiki/Virtual_office). Virtual office is the new office of the future. Although a virtual office has been around for a while, it has not been used by everyone because when the concept was adopted, there was not much technology developed yet to support it. Now, with the increasing amount of technology for home use, now companies can move more jobs to this form of an office. The most common careers using virtual office is customer service representative’s jobs. A plan is put into place when designing what an office should look like in the future. When a company designs a model for a project; there is also a model designed for future offices. Corporate America has designers to create an...

Words: 4873 - Pages: 20