This document discusses emerging challenges for HR professionals. It begins by quoting Peter Drucker and Jack Welch on the need to adapt to changes and field the best players. The main challenges identified are environmental factors like technology changes and globalization. Organizational challenges include cost-cutting and restructuring. Cultural challenges involve managing diversity. HR must develop strategies aligned with business goals and capabilities. Key roles involve developing intellectual capital, managing careers and conflicts, transferring knowledge, and fostering creativity.