Contents Challenges of business for 21st century 1 The Challenge of Information Society 1 The Challenge of the Global Financial Crisis 2 The Challenge of the Environment 2 The Challenge of the INTEGRITY 3 The Challenge of the Cash, Borrowing, and Resource Management 3 The Challenge of the increased selection and competition 4 The Challenge of the Marketing and Customer Loyalty 4 The Challenge of the Uncertainty 5 The Challenge of the Regulation 6 The Challenge of the Problem Solving and Risk Management 7 The Challenge of the Finding the right staff 7

Challenges of business for 21st century

We are living in a whirlwind of change happening all over the globe. In these times of unprecedented challenges, flexibility and the ability to move with the times become very critical virtues. Rigidity may lead to decay and eventual organizational “bankruptcy.” The ability to surf the giant waves of change and not to be drown is something that must be conscientiously learn and practice. For companies and corporations to move head on and face the challenges brimming with positivity, they have to be able to welcome changes and be willing to be change themselves.

The Challenge of Information Society
We can no longer deny that technological advances have led the whole world into a qualitatively new era. Information society is just dawning and we still can barely sense the way it will comprehensively change the global landscape of business. Yet the facts are clear and undeniable. Whatever we can conceive in our minds, we can input in the computer. Whatever we can input in the computer, we can transmit through the internet. Thus, all mental labor can do through the internet. All jobs that require mental labor have transcended the traditional office set up. They can be purely located within cyberspace. This has tremendous implications for production and