New trends in business administration and management

New trends in business administration and management

Thursday, December 28, 2023

Diversity in the workforce, outsourcing, business process reengineering, and the incorporation of sustainable processes are some of the new trends in modern business administration and management.

Thanks to the evolution of technology and globalization in business the pace of economic development has increased, pushing managers to innovate their ways of working and achieving goals. The business world is not the same as it was a couple of years ago; today, companies face new challenges, new consumer profiles, and have tools that entrepreneurs from 50 years ago may have never imagined. 

In a context of constant change, it is natural to expect the emergence of new trends. In the case of business administration, the following stand out: 
  1. Diversity in the workforce. 
  2.  Stress management and occupational health. 
  3.  Participatory administration. 
  4.  Evolving learning models. 
  5. Outsourcing. 
  6. Effective time management. 
  7. Business process reengineering. 
  8. Incorporation of sustainable processes. 
If you want to know more, we invite you to continue reading this article. We explain in greater detail each of the administrative trends in modern organizations, and we’ll share some exciting online programs for you to train in modern business administration. 

8 trends in business administration 

1. Diversity in the workforce 
Thanks to globalization, it is increasingly common to find companies whose teams are characterized by their wide diversity. The trend points towards a management structure that trains employees regardless of background, culture, beliefs and origin. 

Companies no longer operate in an isolated market, they are now part of a global economy, for these reasons, for-profit and non-profit companies need more diversity to face the challenges of any part of the world. They must be open to change and the benefits that come with it. In this trend of business administration, it means that managers are able to develop a better work environment where values ​​such as understanding, empathy, tolerance and willingness to communicate are present. On the other hand, it is leading companies to develop new policies, training, practices, and organizational culture. 

2. Stress management and occupational health 
In increasingly competitive and demanding environments, stress manifests itself as a psychological, physiological, and emotional response of the body to a demand where the pressure is greater than the resources. Some common causes of stress are heavy workloads, excessively long work hours, limited availability of resources to complete tasks, and uncertain job security. 

Modern business administration is aware of this phenomenon, which is increasingly common in the daily lives of employees, therefore, managers must take measures to minimize stress and contribute to good work health. Strategies to contribute to good mental health of employees are increasingly common, for example, we now find companies with rest and recreational spaces. 

3. Participatory administration 
Currently, companies are involving employees in different decision-making processes, to increase motivation and the sense of belonging by being considered an important part of the operation. On the other hand, participatory administration gives the opportunity to employees, aware of real problems of the company, to contribute to the process of better decision-making. 

4. Evolving learning models 
If modern companies want to survive and highlight competitive advantages, they cannot continue working under the same learning models. The business world is constantly changing! For a company to be able to incorporate new concepts, innovation in training and learning models, design, structure and technology is essential, since continuous learning allows adaptation to change. 

Today companies prioritize sharing information with all employees, as well as ideas and knowledge to work as a team. Additionally, priority is given to key tasks, such as finding and hiring qualified employees with learning capabilities. 

5. Subcontracting, outsourcing, or externalization
This tendency refers to the action of obtaining resources from outside the workplace. It is a process where external companies or employees help in the tasks of the contracting company, with the aim of providing quality and obtaining the benefit of specialization. It is a convenient means to reduce costs and improve the quality of results in certain areas. 

If a company performs all activities itself, it may not be able to reach objectives efficiently and at the same time meet quality standards. Modern business administration considers the advantages of requesting help from companies and professionals specialized in different areas, with whom it can collaborate and thus minimize the cost of operation and increase the quality of processes and products. 

6. Effective time management 
Time management is about prioritizing activities to use time effectively. Putting this trend into practice can help employees organize their tasks to complete them in a timely manner. Modern management seeks a balance between resources and demands that make goals achievable, always keeping in mind that time is limited and non-renewable. 

7. Business process reengineering 
This is a new trend that states that the way work is done must be radically changed, leaving aside the basic structure of the business so that all efforts are directed towards achieving customer satisfaction and, therefore, greater performance and profitability. Reengineering involves redefining company processes. New processes may involve technological development, for example. 

8. Incorporation of sustainable processes 
Business administration increasingly focuses more on environmental conservation, for the sustainable development of business activities. This trend focuses on the use of green technology and the incorporation of sustainable processes to protect and preserve the natural environment. To save natural resources, large organizations are using renewable energy sources, adopting new technologies that reduce energy consumption, and contributing to the preservation of natural spaces, among other practices. 

Become a high-profile professional in the world of administration It is key that every administration professional is aware of trends and innovations in the business world to optimize processes and guide efforts to achieve objectives, both internally and externally. If your professional goal is to become a manager prepared to face challenges and incorporate the innovations of our constantly changing world, we invite you to take a look at our business programs that provide leadership and business knowledge for the modern corporate world: 

Prepare for success in the business world with Saint Leo University.

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