Devoted to Managers and those that seek to improve their management skills

In a report by the San Jose Business Journal, it was revealed that by the year 2020, the combination of the United States, China and India will account for 50% of all new economic growth.

Quoting the Economic Intelligence Unit, they said that in a survey of 1,656 executives from over a 100 countries, they concurred that globalization of companies all over the world will increase and that the growth in global economic output will be large, along with a 15% increase in the work force.

Other key findings of the study were: China’s economy - measured at purchasing power parity exchange rates - will be equal with the United States by 2020, and it will have the second largest consumer market and the largest tech sector. Asia’s overall share of the global economy will raise from its current 35 percent to 43 percent.

India will contribute 30 percent - or 142.4 million - to the 471 million new workers entering the global work force. The United States will add 12. 5 million new workers, and the great majority of new jobs will be in the service industry. The nature of the work force will continue to change. Two-thirds of executives surveyed for the report believed that flatter organizations in which independent decision-making and collaborative environments will be the norm.

The last part of that is good and bad news for managers, as the flatter the organization, the less middle-management there will be. The good news is that those that remain will be probably much more in coaching roles than looking over shoulders of the employees.

Any way you look at it, management is in for a lot of changes and we need to see ways we can adapt to the changing circumstances as we move into the challenges ahead.