Determining The Right Management Mindset For Today Competitiveness
Traditional management is an area that is extremely difficult to delineate. Change is a permanent feature of human societies. Today, we are living in a confused transition period to a new age defined by global competition, uncontrolled change, faster flow of information and communication, increasing business complexity, and persistent globalization. The economic and political changes over the last century have led to rapidly changing contexts of management marking an entirely new era of business. This new environment is also characterized by "more far-reaching technological advances, and a consumer who has adjusted to this quicker pace and whose fickle preferences are revised with the speed of a television commercial." (Pasternack & Viscion, 1998).
According to Hanson, D., Dowling, P., Hitt, M.A., Ireland, R.D., and Hoskisson (2005) "The traditional management mindset cannot lead a firm to strategic competitiveness in the 21st Century landscape. Managers must adopt a new......
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