This document discusses contemporary issues in management, including the importance of effective marketing strategies and overcoming language and cultural barriers in the workplace. It provides elevator pitch responses and case study discussions for two topics.
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Running head: CONTEMPORARY ISSUES FOR MANAGEMENT Contemporary Issues for Management Name of the Student Name of the University Author’s Note
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1 CONTEMPORARY ISSUES FOR MANAGEMENT Table of Contents Part1: Elevator Pitch Response........................................................................................................2 Elevator Pitch Response for topic 7:...............................................................................................2 Elevator Pitch Response for topic 8:...............................................................................................3 Part2: Case Study discussion:..........................................................................................................4 Case Study discussion for topic 7:...................................................................................................4 Case Study discussion for topic 8:...................................................................................................5 Reference List:.................................................................................................................................8
2 CONTEMPORARY ISSUES FOR MANAGEMENT Part1: Elevator Pitch Response Elevator Pitch Response for topic 7: After making in-depth research on the overall sales volume of the company I have observed that the company is unable to follow proper marketing strategy and policy at their workplace. Due to inappropriate marketing strategy, the customers are showing their reluctance inpurchasingproductsandservices,whichreflectsontheoverallsalesvolumeofthe organization. In order to increase the sales volume of the company I as a business manager would like to suggest in rendering a change in overall marketing decision. First, the business experts can implement low cost pricing strategy with the help of which the organization can easily grab the attention of large number of target customers. Due to low cost pricing strategy, people from average income status can easily show their attention in purchasing products and services. In addition, I would like to suggest the organization for enhancing their product diversity with the help of which customers from various psychological backgrounds can be attracted in purchasing from the company. Automatically, the sales volume rate will be high and the company can gain immense profitability. Own response: After analyzing the entire elevated pitch, I have personally felt that these two marketing strategies will be effective enough in gaining the organizational glory and reputation. At the same time, I would like to suggest some of the major significant factors can be added in order to grab the attention of customers. In addition, I have also evaluated the fact that the business manager needs to focus on promotional strategy of the organization by introducing their new
3 CONTEMPORARY ISSUES FOR MANAGEMENT products and services in the market. As a result, the customers would show their interest in using the products and services. Elevator Pitch Response for topic 8: In this very specific scenario I have observe that Sam as a manager is facing challenges in getting accustomed with the organizational culture due to language barrier, cultural barrier. In this situation, I can suggest that Sam can adopt language efficiency with the help of which he does not have to face challenges in communicating with the professionals at the workplace. In addition, I would like to suggest Sam to grab both verbal communication method as well as non- verbal communication method. Sam due to the lack of language incompetency has to face immense challenges in coordinating with the team members. As a result, it is a matter of big challenge for Sam in control the performance level of the employees working under him. Non- verbal communication method is also very effective to interact with those people who have language barrier. In addition, the study has evaluated that communication is one of the most important factors due to which the service providers can deliver effective services to the customers. However, Sam in this situation would be highly suggested to develop professional skill and competency by receiving a training and development session. As a result, both the customers and the service providers would equally beneficial in working together within organization. Sam also would be able to handle any kind of crisis at the workplace with proper efficiency. Own Response: While evaluating the elevator pitch I have observed that Sam as a manager is facing challenges in getting accustomed with the organizational culture due to language barrier, cultural
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4 CONTEMPORARY ISSUES FOR MANAGEMENT barrier. In this situation, I can suggest that Sam can adopt language efficiency with the help of which he does not have to face challenges in communicating with the professionals at the workplace. However, apart from receiving effective training and development session Sam can render effective leadership skill and qualities as well. With the help of this specific quality employees working under him can get motivation in performing well. Part2: Case Study discussion: Case Study discussion for topic 7: 1. What conflicting values are evident in this case? In the case study 7 provided in this very specific study, it has been observed that Benjy is unable to run their entire process of business effectively due to the lack of effective sales. In last one year, the organization has received a huge loss due to the lack of low sales volume (Manojlovich & Ketefian, 2016). While evaluating the most effective drivers of low sales volume of the company it is observed that the business experts are not following proper appropriate pricing strategy and policy. The price range of the products is very high, due to which the customers belonging to low income status cannot afford the product. Another more conflict that the organization has faced implies lack of proper services to the customers due to incompetency and inefficiency off service providers. 2. What advice would you give the Board of Benjy’s about a way forward that resolves the values conflict? Based on the entire case study it can be advised that marketing strategy and policy needs tobeimprovedforexpandingbusinessinmultigeographicalboundaries.Alongwith
5 CONTEMPORARY ISSUES FOR MANAGEMENT maintaining the quality of services, the business experts would have to focus on using effective promotional strategy. Therefore, as per my point of view implementation of marketing strategy is highly needed. In case of this electronics and appliances retail store, 4Ps of marketing strategy is highly significant. With the help of an effective marketing strategy like product promotion, price and place the business experts can easily grab customers attention. Therefore, implementation of effective business strategy can increase sales volume of the organization. 3. What management competencies do you believe this case highlights that are important for the 21st century leader-manager in VUCA world? In order to increase the number of target customers the business experts should have the competency of facing immense challenges in maintaining organizational image and reputation (Avraham, 2016). Due to low cost pricing strategy, people from average income status can easily show their attention in purchasing products and services. In addition, the organization for enhancing their product diversity with the help of which customers from various psychological backgrounds can be attracted in purchasing from the company. In addition, the business manager needs to focus on promotional strategy of the organization by introducing their new products and services in the market. As a result, the customers would show their interest in using the products and services(Islam, Jasimuddin & Hasan, 2015). However, it has been observed that lack of sales volume of products ultimately damages the rhythmic flow of business. As a result, the business experts fail challenges in maintaining their business sustainability. Case Study discussion for topic 8: 1. What conflicting values are evident in this case?
6 CONTEMPORARY ISSUES FOR MANAGEMENT In case study 8 it has been observed that business managers like Indira Pandit and Sudhir Gupta are facing challenges in getting accustomed with the organizational culture due to language barrier, cultural barrier. In this situation, the can adopt language efficiency with the help of which he does not have to face challenges in communicating with the professionals at the workplace. Managers in this situation would be highly suggested to develop professional skill and competency by receiving a training and development session(AlHogail, 2015). As a result, both the customers and the service providers would equally beneficial in working together within organization. 2. What advice would you give Indira Pandit and Sudhir Gupta about a way forward that resolves the values conflict? I would like to advice Indira Pandit and Sudhir Gupta to adopt language efficiency with the help of which he does not have to face challenges in communicating with the professionals at the workplace. Managers in this situation would be highly suggested to develop professional skill and competency by receiving a training and development session(AlHogail, 2015). As a result, both the customers and the service providers would equally beneficial in working together within organization. In order to become a part of business organization managers needs to get accustomed with the organisational culture. The proper culture of an organization shows that the business experts need to interact with the customers properly with the help of which they get the opportunity to share their views and through in case of facing challenges(Elrehail et al. 2016). Indira Pandit and Sudhir Gupta as a manager was facing communication barrier in interacting with the people who have language problem.
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7 CONTEMPORARY ISSUES FOR MANAGEMENT However, managers due to the lack of language incompetency have to face immense challenges in coordinating with the team members(Sgroi et al., 2014). As a result, it is a matter of big challenge for Sam in control the performance level of the employees working under him. After evaluating overall case study, it can be stated that managers can adopt language efficiency with the help of which he does not have to face challenges in communicating with the professionals at the workplace. 3. What management competencies do you believe this case highlights that are important for the 21st century leader manager in VUCA world? Based on the overall case study conducted in this very specific study I believe that managers from different language backgrounds and attitudes had to face difficulties in being accustomed with organizational culture. Therefore, Indira Pandit is instructed to follow the effectivetraininganddevelopmentsessionwiththehelpofwhichhecanenhancehis professional skill and competency level. I personally believe that every business manager should have the management competency of meeting organizational productivity. Sudhir Gupta as a manager was facing communication barrier in interacting with the people who have language problem. However, managers due to the lack of language incompetency have to face immense challenges in coordinating with the team members. As per my personal opinion, managers need to adopt non-verbal communication method as well. With the help of effective non-verbal communication, people having language barrier can easily communicate with managers. As a successful business manager, managers need to adopt effective emotional intelligence skill with the help of which the business experts can deal with every single employee with proper sympathy.
8 CONTEMPORARY ISSUES FOR MANAGEMENT Reference List: AlHogail,A.(2015).Designandvalidationofinformationsecurityculture framework.Computers in Human Behavior,49, 567-575. Avraham, E. (2016). Destination marketing and image repair during tourism crises: The case of Egypt.Journal of Hospitality and Tourism Management,28, 41-48. Elrehail, H., Alzghoul, A., Saydam, S., Alnajdawi, S., & Al'Ararah, K. (2016). International Journal of Online Marketing Research. Islam,M.Z.,Jasimuddin,S.M.,&Hasan,I.(2015).Organizationalculture,structure, technology infrastructure and knowledge sharing: Empirical evidence from MNCs based in Malaysia.Vine,45(1), 67-88. Manojlovich, M., & Ketefian, S. (2016). The effects of organizational culture on nursing professionalism: Implications for health resource planning.Canadian Journal of Nursing Research Archive,33(4). Sgroi, F., Di Trapani, A. M., Testa, R., & Tudisca, S. (2014). Strategy to increase the farm competitiveness.Am. J. Agric. Biol. Sci,9(3), 394-400.