MANAGEMENT
According to studies done by Manpower Group , Panama is undergoing a serious problem with lack of adequate employees in general . In the survey conducted , 47 % of employers reported that it was difficult to find talented people in the Panamanian labor market ( Caicedo ). Employers claim that the only thing holding Panama back is the lack of skilled labor . These claims are supported not only by national , but also , international studies that have tested the Panamanian education system . As reported by PRS ,
“ the September 2011 World Economic Forum Global Competitiveness Report ranked Panama 133 out of 142 countries for quality of education . This poor showing underscored the 2010 OECD Program for International Student Achievement ( PISA ) analysis , which ranked Panama second worst among participating Latin American countries .”
As far as managerial positions and management in general are concerned , Panama is going through something very close to a crisis . Recent analyses and reports suggest that almost 80 % of management positions in Panama are held by foreigners or Panamanians that have been educated outside the country . As reported by local newspaper , during a study conducted by Delloite Panama regarding human capital , 64 % of the studied companies said it was extremely difficult to fill in management positions ; they were very often empty . The study also showed that most companies would depend on current employee references when looking for prospective managers . This scarcity is mainly due to a lack of analytical and numerical skills , and the inability to communicate effectively in English , which are key elements for management positions in recent times .
Management style in the country
Managers in the nation need to realize the importance of relationship building ; management in Panama is all about adherence to hierarchical roles , respect to superiors , a lot of networking , and , essentially , knowing the “ important ” people . Although Panama is good at adapting to change , things move at a very slow pace . Thus , change is supposed to be introduced slowly and adjustment takes time . One of the most important characteristics a manager is Panama needs to possess is patience , since the concept of time in Panama is very “ flexible .” Furthermore , management in Panama needs to be able to deal with functional silos and strong departmentalization within an organization ( Kwintessential ).
LEADERSHIP
Leadership is all about placing yourself in a position where others will look up and follow ; the leader will show the way . It depends a lot on cultural views . This is a theory that was proven by researchers of GLOBE , a project that provided information on six “ global leadership behaviors ,” namely : charismatic / value based , teamoriented , participative , humane oriented , autonomous , and self-protective . The researchers claimed that different regions and nations worldwide ranked differently on each of these styles , which meant that , for example some were more charismatic / value based , whereas others were autonomous leadership based . As indicated in their research , like most Latin American countries , Panamanian firms benefit most from leadership behaviors based on :
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Charismatic / value based leadership : this kind of leadership , as defined by GLOBE researchers , “ reflects the ability to inspire , to motivate , and to expect high performance outcomes from others on the basis of firmly held core values .” It is
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