How can managers develop competencies in order to overcome the challenges facing them now and in the future?

In my experience, most Managers do not fully recognize the potential each member of their team brings to the table (or they tend to ignore it in some cases). For example, a DBA friend has substantial developing background in the Oracle Financials arena, but company 'politics' prevent him from completing a multitude of tasks they are paying an outside consultant to do. Government thinking, "I can eat up our excess IT budget with this contractor so that I can get a bigger one next year for what I really want." Weigh your staff's real talents and you will capitalize on all spectrums. A successful Manager knows this.