6. Contemporary Management Issues and Challenges Today's Management Challenges The rate of change in the business world accelerated dramatically around the turn of the twenty-first century. This brought with it a host of new challenges for managers-and a host of proposed solutions from business authors. Management Theory Gets Popularized New Challenges for a New Century The economic boom of the 1980s saw a flood of new books on management theory from authors like Warren Buffett, Stephen Covey, and Malcolm Gladwell-all of whom have influenced management theory and practice ever since. Successive waves of such books have followed as new management challenges have arisen in recent decades. Select the correct response(s) to the following question, Which of the following are examples of new challenges managers face today? Check all that apply. Giving employees more flexibility with when to take paid holidays, based on their religion Making business decisions based on experts' best guesses about whether a pandemic will affect a certain market. Designing an incentive pay system that takes into account workers' group norms about acceptable production levels Developing mathematical models to maximize the efficient allocation of company resources