Global economy to grow in 2024, Thai leaders face new challenges

[snoop1130]

 

The global economy is projected to grow in 2024, according to forecasts by leading business groups and the World Bank. However, Thai leaders are expected to navigate new challenges such as bridging generational gaps in conversations and encouraging younger workers to mentor older employees on new technologies. Meanwhile, the stress levels among all employees are at an all-time high, triggering a reconsideration of the employer-employee relationship dynamics.

 

The necessity of understanding one’s leadership context is vital. Context is a critical factor in the operation of businesses and industries. The transition from product-centric to solution-oriented approaches has been a challenging shift for industry players, including partners and clients. This mirrors the difficulty of providing contextually appropriate leadership to a workforce that is increasingly diverse, multi-generational, and consistently evolving.

 

In 2023, the company experienced a reduction in the number of employees. However, diversity in terms of age, identification, nationalities, expectations, and aspirations increased, a change that was ultimately beneficial. The strategies that were successful in 2023 may no longer be applicable in the changing context.

 

To adapt to these changes, leaders could consider several steps. It is critical to analyse the current business environment and organisational changes. Identifying changes in external pressures, employee morale, and team dynamics can help formulate better strategies. Feedback from employees, customers, and stakeholders is essential in identifying areas that need adjustment.

 

Leaders should evaluate the effectiveness of their current leadership strategy and identify any gaps in skills, knowledge, or communication. Open communication is crucial, with regular meetings and feedback sessions that allow employees to share their perspectives and concerns. Allocating resources and time for leadership development and training could enhance skills needed in the new context.

 

By Alex Morgan

Caption: PHOTO: via wikipedia

 

Full story: The Thaiger 2024-01-22

 

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[connda]

Global economy to grow in 2024, Thai leaders face new challenges

Unless it crashes in flames.

[hotchilli]

13 hours ago, snoop1130 said:

Thai leaders are expected to navigate new challenges such as bridging generational gaps in conversations and encouraging younger workers to mentor older employees on new technologies.

Yeah, I can just see that working... old guy "don't tell me how to do it" 

[peter zwart]

13 hours ago, snoop1130 said:

encouraging younger workers to mentor older employees on new technologies

That is not going to work. The result of the absence of a proper education system. Unfortunately, Thailand will pay the price for letting the foundations of society decay.