‘In the Current Economic Climate, What Are the Biggest Challenges and Biggest Opportunities Facing New Managers Entering Industry?’

Jacky Pei Chen ID: 4576323 4th Nov 2012 ‘In the current economic climate, what are the biggest challenges and biggest opportunities facing new managers entering industry? ’ Nowadays the world economic situation is facing the most complex challenge: European debt risk, the financial markets turmoil. According to the Global Economic Prospects, the financial crisis will continue with next three years. However, the recovery of economic has already started. In this situation, the macro-control policy is dilemma. The economic productivity power is not strong enough, the long-term employment pressure is continuing.These problems need to be solved immediately. To keep running in this still difficult economic climate, any companies in any industry should aggrandize their contribution.

So it is obviously that new managers are facing the biggest challenges and biggest opportunities than before. What is managers, and what they need to do? Managers need to use their whole operating management knowledge and their abundant manage experience to help enterprises run business independently and create the benefits for enterprise. Managers need to offer the necessary services and capability, which are beneficial for running, maintaining and managing the company.

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Although manager is an admiring job, but not everyone can be qualified for this work. As a manager, it is necessary to build up 7 qualities. 1. Ahead of consciousness As a manager in company, you need to seize the develop trend of industry and where a company is headed. It is very important to equip with strategic vision.

The manager must know the internal and external environment, which are related to the enterprise. Searching the advantage opportunities for company and also help the company to get over negative factors. 2. Critical thinking skills Keep your ears and mind wide open. Like to accept new things, be active o get second opinion. Must facing the challenges and opportunities of enterprise, scientific analysis the enterprise’s most important issues and adapting in global age. 3.

Broad-minded Before a manager start using his knowledge, he must build up a strong team. The team is based on corporation and trust, especially in this global age. Overseas stuff work together and manager must accept and understand each team members. Make it an advantage resource for your team is very necessary. 4. Bold action Customers’ hobby is changing rapidly, so the time is limited for manager to think and action.If the manager want to seize the commercial opportunity,not only he should be brave and bold action, but also need to have spirit of adventure. The manager must respond positive reaction in time.

5. Good credit A good credit is the key to success in manager’s management career. Managers must keep their promises to employees, customers, and stakeholders.

6. Good relationship Managers must deal with the complex relationship. It includes the internal and external relationship.

If the manager didn’t handle human relationship tactfully, will influence the company to move forward. . Positive attitude Facing the intense competition and rapid changing world, manager’s spirit is pressing. So the manager needs positive attitude to translate pressure into energy. 8. Physically strong Working under the high press demand managers have a superb physical qualities,get regular rest,do some exercise and sports. Maintain the energy, confidence, and enthusiasm. Which are the biggest challenges to new managers? In this rat race, industry competition, product competition, price competition, competition for talent employees and the competition of obtain employment.

These competitions above need every manager focus on. If new managers want to win these competitions, they should equip themselves with long-term vision, unique skills, and highly responsible for industry. Also the most important is managers need to learn how to respect every employee, no matter what their performance, outstanding or underperforming. There is no doubt that business career has opportunities everywhere. It is also clear that opportunity can be a chance or moment,people regard opportunity as an advantage condition or a favorable environment.Some manager claim that opportunities are the reverse side of threats and it is highly likely to transform most of threats into opportunities. So what are the biggest opportunities that new managers should to face while entering the industry? As the global economic recovery is beginning quietly, this is the greatest opportunity for each company and every manager. Managers must seize this opportunity to expand production, use their knowledge and experience to lead colleagues make a big contribute for their companies, it will be one of the biggest achievement in management career.

Reference: Drucker, P. 2007) ‘Management Challenges for the 21st Century’. Burlington: Linacre House Publishing, 82-85 Harwell. (2009) The 7 Biggest Challenges of a Manager. [online] available from [3 November 2012] Hillson, D.

(2008) ‘Effective Opportunity Management for Projects’ Existing approaches to risk management, Eastern Hemisphere Distribution, 14-15 Krogmann, C. (2012) ‘Tough Economic climate: What do you think should be Global purchasing’s added contribution in the likely difficult economic climate for business in 2012’, 4-5 Lalitbhojwani. (2011) The Biggest Challenge for Managers. [online] available from [2 November 2012]



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