Section 5
Current Challenges in Management
By Boundless
![Thumbnail](../../../../../../figures.boundless-cdn.com/13556/square/pestel.jpeg)
The PESTEL framework highlights six critical factors for management to consider when approaching the general business environment.
![Thumbnail](../../../../../../figures.boundless-cdn.com/13757/square/globalisationchart.jpeg)
Globalization is the international integration of intercultural ideas, perspectives, products/services, culture, and technology.
Ethics is at the core of corporate governance, and management must reflect accountability for their actions on a global community scale.
![Thumbnail](../../../../../../figures.boundless-cdn.com/15665/square/1024px-ethnic-diversity.jpeg)
Globalization demands a diverse workforce, and assimilating varying cultures, genders, ages, and dispositions is of high value.
![Thumbnail](../../../../../../figures.boundless-cdn.com/13739/square/ent-technology-life-cycles.jpeg)
Technology management is crucial in offsetting the risks of new technology while acquiring the operational benefits it provides.
![Thumbnail](../../../../../../figures.boundless-cdn.com/13746/square/typesofadvantage.jpg)
Managers must understand a company's competitive advantage and build a strategy that takes into account the competitive landscape.