Question

Does the notion of talent management relate to the shift from classical to global management? Why or why not

Answer 1

YES, Since the advent of globalization, businesses have tried to adopt a global based strategy for both brand management, marketing and human resource. It, therefore, relates to the understanding of talent management more, since the availability of a diverse skill pool and the ever-increasing need for a cross-functional outlook has created the need for businesses to develop a talent management system with their human resource. The notion of talent management has grown from the classic management chain of thoughts toward a global management outlook following the increased competition in today's business landscape. Earlier, talent used to be acquired from the market, companies utilize higher wages, more benefits and more lucrative compensation packages to attract talent from the industry. Now, however, companies try to recruit more on the lens of diversity, bringing in a broader set of skills and core competencies and developing it further, to create a cross-functional and self-managed team where the individuals are free to utilize their creativity and therefore, grow with each challenge.

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