Manager Challenges for XXI Century

published in: Educational articles

29 Dec
2009

Some 50 years ago, Peter Drucker, the "father" of management and "grandfather" of the traditional marketing concept, defines the essence of management as innovation and marketing.


Innovations in the XXI Centur
y

In our highly technological world innovation surprises us daily.  In 1995 cell phones hardly transfer the human voice.  In 2010 mobile phones transmit and receive quality audio and video, enormous amount of data... Nowadays they are more mini-computers than phones.   I am convinced that in a very near future they will not be called phones due to the fact that voice transmission will be a very small part of their functions.  The speed of copying, modifying and improving existing technologies has reached incredibly high levels.  As a result of this high dynamics the life cycles of new products and technologies shortened... This situation reinforces the need for new innovationsInnovation management and maintaining the "one step ahead of the competition" position is a key skill for the manager of the XXI century.  In addition, in order to be successful managers will have to juggle both focuses: on the present and on the near future.


Marketing in the XXI Century

The "father" of the traditional marketing concept - Philip Kotler and John A. Caslione in their book "Chaotics. The Business if Managing and Marketing in The Age of Turbulence." identified four key changes in the marketing environment in the beginning of the XXI century:
• Customers are more informed than ever. They already have power.  Using the Internet they can find almost everything about any product, service or company.
• Regional brands become more powerful and often win against widely advertised national trade marks by means of lower price (it does not have to cover the costs for expensive TV advertising).
• Competitors can quickly copy or imitate any new product or service, thus reducing the return on investment in new products and shorten the life of any competitive advantage.
• Internet and social networks have created a radical new media capable of exchanging information with users (the other media are one-way information flow media like radio, TV, newspapers ...) and allowing direct sales.


Manager Challenges for XXI Century

These changes in the business environment implies the development of new approaches by the managers of the new time. 
The entry barriers in most industries are melted.  Through the Internet, and information from multinational and small companies reaches customers at the same speed and in the same way.  The size of the company will be increasingly less important for success.  Dynamics and turbulence in the world economy will boost the rapid, subtle and prepared at the expense of clumsy and rigid companies ...
Which companies will be the winners we are about to see in 20 years.

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