Professional Documents
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Five Challenges
Five Challenges
Technological changes, structural changes, environmental changes are accelerated at a faster rate
in the business field. Therefore, there is a greater need for employees to possess advanced skills
and knowledge to adapt those changes. If the employees lack the required skills, the targeted
goals cannot be achieved in time. The required skills can be enhanced by training and
development programs, career development programs, induction and socialization.
3. Responding to Globalization
Globalization refers to the integration of economies, societies, and cultures on a global scale. It is
caused due to advancements in technology, communication, transportation, and trade, enabling
the flow of goods, services, capital, information, and ideas across national boundaries. Therefore,
business operations are no longer restricted to a particular locality or region and are expanded to
gain their market share and to remain in the top rank. The company’s products or services are
spreading across nations using mass communication, the internet, faster transportation, etc.
4. Empowering People
Empowerment is giving the employees a sense of ownership over their work and allowing them
to take responsibility of it. Typically, employees are given the autonomy to make decisions and
take actions that are likely to lead to higher performance. When employees have a sense of
empowerment, they feel valued, trusted and motivated to contribute to the organization’s
success. Empowered employees have the freedom to generate ideas, experiment, and take
calculated risks.
5. Improving Customer Service