Common challenges in leadership

Global competition and technology advances have changed business conditions and leadership challenges in many ways. Today, almost every entrepreneur wants to expand his/her business to other markets to increase productivity and revenues, as well as to gain a competitive advantage. Hiring a workforce that is able to understand different cultural, social, and business environments has become one of the main challenges for business entrepreneurs in today’s competitive global environment. “ Attracting and retaining talent in today’s very competitive world is something that a human capital practitioner cannot easily dismiss” (Mwaka). Therefore, business leaders not only focus on expanding their businesses but also on hiring a competitive and multicultural workforce. Moreover, leaders also need to make business owners and managers aware of incorporating the use of new technologies to improve the performance of their businesses, as well as to increase productivity both of which are essential for success in today’s competitive environment.