Although organisations in their modern form have been in existence for many decades now, we would be

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Although organisations in their modern form have been in existence for many decades now, we would be wrong to think that rates of change have slowed down and conditions are stable and unchanging. In the future, shifts in world economic power, rapidly advancing technology and other factors will impact the way work itself is done for most of us and value chains are being disrupted every day. Changes are manifesting everywhere, from where we produce our goods and services, to how we produce and consume energy, to what is best done by us humans and what is more efficiently done by smart machines and software. Managers need to be 'on the front foot in their decision making, willing to quickly and effectively move their business locations, implement new technologies such as Internet of Things, and update their workforce skill levels. We will likely see retailing move much further from bricks and mortar to online channels. Eventually, self-driving cars and trucks will deliver us and goods to destinations. Fossil fuels will be reduced as an energy source. Global economic forces will continue to evolve. Global population will increase. Medical technology will develop apace, but the cost of healthcare seems set to rise even faster. Urbanisation continues. All these macro-factors are reshaping value chains and guiding how technology is applied in our organisations and society. This requires managers in all roles to keep one eye on how this set of big-picture elements will impact on their local strategies and workplace tactics. The challenge for all managers is to see the waves of change as they come, sometimes to watch for them a little ahead of their arrival, and accommodate those change-driven forces in their value chain designs and operations, rather than be left behind. One might say: 'Be Google or Apple, don't be Kodak or Blockbuster, but this is obviously easier said than done for most of us. Question As a manager in the future, how will you keep up to date with what technologies are worthy of consideration and implementation and how will stakeholders' expectations be best taken into account?

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Management

ISBN: 9780324317985

7th Edition

Authors: Richard L. Daft

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