21st Century Management Skills

Paper Summary:

The paper talks about managerial skills required to compete in the 21st century. It examines the differences between a leader and a manager and how they affect their roles. The article also outlines the different skills required for each managerial level in the hierarchy of management. The discussion is supported with graphs and quotes.

From the Paper:

"With the entire world as a market and national borders becoming increasingly irrelevant, the potential for organization to grow expands dramatically. For example, a study of 1250 highly diverse U.S. manufacturing firms found that companies that operated in multiple countries had twice the sales growth and significantly higher profitability than strictly domestic firms. However, the opening of global borders can work both ways. There are considerable challenges in managing a global business as well. Managers must deal with economic, political and cultural differences. Managers who don't closely monitor changes in their global environment are likely to find limited global success. Therefore, as a manager who decides to go global with the business, we have to be aware of the specific characteristics of the location."

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