GLOBAL CHALLENGES FOR BUSINESS- MANAGEMENT AND LEADERSHIP
The currently changing world has led to significant developments and revolutions to the business community. The aspects of globalization, advancements in technology as well as liberalization of markets have been the most outstanding factors leading to changes in the business environment. This has led to a tremendous increase in competition as a result of revolutionized methods of production, communication as well as freedom of operation. Customer knowledge on their rights and privileges has also been on the increase. In response to this phenomenon, there has been every need for the involved business to adopt the most efficient management strategies. This will not only enhance their survival but also guarantee their success and sustainability. In this case, strict adherence to management theory as well as the Competing Values Framework (CVF) has been inevitable for any business seeking to succeed.