In the Fifth Edition of this nationally acclaimed book, students learn the management skills and competencies that will enable them to meet the challenges they'll experience as leaders in tomorrow's dynamic, rapidly changing business environment. The authors focus on key management principles and how they apply in real business practice, as well as on the skills and competencies students will need as they move into the workplace. In this leadership-focused book, students discover how proactive leaders respond to both the opportunities and challenges of global management, diversity and ethics issues, team-based management, service management, and other developing trends. In emphasizing the competencies and skills needed by contemporary leaders, MANAGEMENT: CHALLENGES FOR TOMORROW'S Leaders translates theory into practice, showing students how to fully develop their skills in teamwork, critical thinking, problem solving, communication, and adapting to change. The authors further broaden students' understanding by applying the concepts of management to the various functional areas of organizations of all sizes, illustrating that leaders emerge from all areas- production, finance, accounting, sales, and marketing.