The business challenges in 21st century

Here are 4 key challenges all business face in the early years of the 21st Century-

  1. Innovation: “The leader needs to create an innovative and entrepreneurial culture that meets the ever-Increasing demands of customers,” he says. Having that will allow their organization to compete effectively nationally or internationally.
  2. Talent management: Leaders not only have to attract exceptional individuals to work for them, but they must also develop their skills and retain them.
  3. Communications: Strong communication skills, especially digital communication skills, are essential to meet the needs of customers, as well as staff. That means leaders must be computer-savvy and “create and communicate a culture based on mutual respect and shared values to the customers and to their staff,” Cutler says.
  4. Globalization: Increasingly organizations have multi-cultural teams. Team members might work in one location, or if the company is large enough, they might be in in various locations around the world. It’s important for leaders to understand that diversity and meet the different cultures’ needs and requirements.