Contemporary Issues in Business Management and Marketing

This report discusses the significance of business models in facing problems, the nine building blocks of a business model, and the role of HR in recruitment and appointment. It also covers the use of SWOT analysis in identifying business problems and opportunities.

Contemporary Issues
in Business
Management and
Marketing

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK ..............................................................................................................................................3
Business model purpose and its building blocks.........................................................................3
Explain the HR role and functions in terms of recruitment and appointment ..........................5
CONCLUSION ...............................................................................................................................5
REFERNCES:..................................................................................................................................6
Books and Journals:....................................................................................................................6

INTRODUCTION
This report aims to understand various issues of the contemporary business management.
There are business models which helps in performing essentially activities in the business
including preparing strategies, analysis market and helps in decision making (Ritter, and Lettl,
2018). Therefore, the report will outline the significant impact of business model in facing
problems. Also, there will be an explantation of roles of HR function and recruitment.
MAIN BODY
TASK
Business model purpose and its building blocks
Business model: it is a a kind of plan and target through which a business is going to
make profit and carry out different practices. A business model helps in giving right path towards
success. It give a core strength to organization which helps in identifying product and service,
target markets and estimated expenses (Geissdoerfer, Vladimirova, and Evans, 2018). This
business model helps the organisation through preparing plans which will eradicate any defects,
unsound practices and understand the market accurately. It gives value to the core operations of
company by keeping control and check on the business related functions. Therefore, the
problems gets eliminate by taking effective decisions in the favour of organisation.
Nine building blocks of business model:
An organisation has its business model created with 9 building blocks which are
described below:
Customer segments: it shows a group or number of customer behaviour wants to serve
their product or services. These segments are essential block which must be defined to easily
serve products and services to the each individuals (Gupta, Fernandes, and Jain, 2018). These
segments could be on the basis of behaviour, attitude and attributes of the customer.
Value preposition: it is the important block of business model. It defines how and what
value an organisation provide to customers. These values must be cost worthy which satisfy
customer needs. Basically it is situation of every customer problem.
Channels: This refers to the platforms through which organisation will reach to targets
customer. These channels works on 5 phases which is awareness, evaluation, purchase, delivery

and after sale service. These are crucial activities for business to attract customers by interacting
with them.
Customer relationship: this block is necessary which show how company maintain
relationship with different kinds of customer.
Revenue streams: This block shows how the organisation is going to make revenue.
There are various ways for it, but it depends on the business potential and effectiveness to match
its suitability.
key resources: it shows how the business model will work which include various
resources in terms of physical, human capital and investment.
key activities: it includes the functions and activities to create a successful business
model
key partnership: it includes any collaborations and suppliers which is going to make the
business model strong.
Cost structure: It shows the requirement of cost and effective ways to minimise
expenses to carry out business activities.
Business model and how to use it
An effective business model is bricks and motor. It is an hybrid business model which
perform sales of the company through both online and retails stores. This business model is
effective which deliver product and services through convenient ways and provide a vast
experience of service to the customers. Therefore, this model is useful for large organisation who
have large each and number of customer segments. This business model works as business have
both the sources in which they sell through online channels whereas, they also have retail stores
which have different operations to sell products. It is beneficial model for the business to allow
online existence as well as creates a unique presence in the market as well. Also, customer will
stratify who are the localities of the nearby store.
Swot analysis
This analysis is helpful to identify the business problems, its strengths and opportunities.
It shows an internal environment of company that will help them to take effective decisions
(Teoli, Sanvictores, and An,2019). This analysis provides an insight about business functioning
and which factor creates problems in the operations. It shows strength, weakness, opportunity
and threats of the company.

Explain the HR role and functions in terms of recruitment and appointment
Recruitment is an important activities laid down in every organisation. It is the crucial
role of HR managers to execute effective and potential candidates to fulfil vacant position of the
company (SNooruddin,, 2018). It is important to give employment opportunities to the talent
individuals which will be a great assets for the company. Skilful individual will contribute in the
profitability of organisation. In the Covid-19, these recruitment procedure gets changes in terms
of new online ways. Interviews get conducted by zoom or video conferencing and employees get
selected, provide training through virtual meetings (Opute, 2020). There are various important
considerations which need keep in mind while recruiting. The HR manger must provide specific
job description so that, no unnecessary number of interviews will be held. There must be proper
job specification which the company expects within the interested candidates. Also, recruitment
process needs to bee free from any discrimination and free from biasses in terms of gender,
background or colour (Birou, and Van Hoek, 2021). The HR managers needs to perform
function of giving job vacancies as earliest as possible to not face shortage of employees at the
time of peak working load. HR manger must often gets involve in interviews and hiring to
maintain economic flow as well as provide employment in the economy.
CONCLUSION
The report has concluded that business model is an effective solution of business related
problems. It sets planning and functional activities through which customer gets satisfied. The
report has provided the use of Swot analysis also, various role of HR in the competitive business
environment.

REFERNCES:
Books and Journals:
Ritter, T. and Lettl, C., 2018. The wider implications of business-model research. Long range
planning, 51(1), pp.1-8.
Geissdoerfer, M., Vladimirova, D. and Evans, S., 2018. Sustainable business model innovation:
A review. Journal of cleaner production, 198, pp.401-416.
Teoli, D., Sanvictores, T. and An, J., 2019. SWOT analysis.
Gupta, P., Fernandes, S.F. and Jain, M., 2018. Automation in recruitment: a new frontier. Journal
of Information Technology Teaching Cases, 8(2), pp.118-125.
Opute, J.E., 2020. Recruitment and Selection. In HRM in Africa (pp. 17-30). Palgrave
Macmillan, Cham.
Birou, L. and Van Hoek, R., 2021. Supply chain management talent: the role of executives in
engagement, recruitment, development and retention. Supply Chain Management: An
International Journal.
Nooruddin, F., 2018. To Critically Evaluate How Digitisation/Automation Has Changed the
Role of HR Department From Recruitment and Selection Perspective: The Case of
Adecco in Middle East Market (Doctoral dissertation, Cardiff Metropolitan University).