Contemporary Management Issues in the 21st Century

This report discusses the role and impact of artificial intelligence on business strategy and workforce management, along with the importance of learning and development, talent acquisition, and change management in the current global competitive climate. It also includes HR theories and their application in the context of Mark and Spencer, a retail firm founded in 1884.

Contemporary
Management Issues in
the 21st Century

Table of Contents
INTRODUCTION...........................................................................................................................1
By using HR theory explain role and impact of the artificial intelligence on business strategy
and management of the workforce within organisation..............................................................1
Critically evaluate importance of the learning and development, talent acquisition and change
management within current global competitive climate.............................................................3
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................6

INTRODUCTION
In organisation, adaptation of the artificial intelligence is a topmost function of HR. it
means that it has a wealth of the insight and learning for sharing to aid others get started. AI in
the HR facilitate procedure to be customised to need workers and their other associated roles to
be separated. In business, artificial intelligence keeps track of all the significant contact details
related to the organisation and other essential tasks including verification of the legal documents
and many more (Lengnick-Hall, Neely and Stone, 2018). Company considered for this project
report is Mark and Spencer. This retail firm was founded by two person Michael Marks and
Thomas Spencer in 1884. main aim of this report is to evaluate impact and roles of the artificial
intelligence on business strategy and workforce management within organisation. Along with
this this report will also discuss importance of the change management, learning and
development and talent acquisition.
By using HR theory explain role and impact of the artificial intelligence on business strategy and
management of the workforce within organisation
Strategy model and HR theory
Strategy models are those tools that helps the organisations in developing their action
plans. They exist as a blueprint for the organisational growth. According to the Saylor strategy
formulation is process in which a business chose right course to attain the desired goals. In
business world, there are various HR theories. Few of these theories are mentioned below:
 General system theory- This theory was outlined by the Ludwing Von Bertalanffy
during 1968. It is widely applied to the HRM. According to this theory, complex system
share the organising principles that can be discovered or modeled mathematically. In this
once the resources are imported from environment, then organisations transform all the
resources into the output. This assumption of the General System Theory prove that the
HR function is a system ( Mitrofanova, Konovalova and Mitrofanova, 2018).
 Strategic contingency theory- This theory was founded by Fred Edward Fiedler. It is
another HR theory. As name suggest, it is based on mainly two concept i.e. strategic and
contingency aspect of the contingency. In business, contingency is required when
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performing different task of any subunit within an organisation on which project or task
of the other subunits create an impact. This contingency becomes strategic once other
subunit start controlling more contingencies and them become very powerful within the
organisation. According to the Strategic contingency theory, leaders are central part of
any organisation due to their unique skill or abilities to solve the major HR challenges
that other individuals are unable to solve (Moore, 2019). This theory mainly focus on the
task which need to be done in a form of the problems to be solved. Hence de-
emphasizing personality. If an individual does not have charisma but efficient to solve the
issues, then they can be an effective leader.
Role of the artificial intelligence
 Attain the goals- As the business strategies are expressed through a measurable
objective. e.g. in form of a Key Performance Indicator or key result. These methods track
the organisational progress in attaining the business goal. Therefore, Artificial pal a
crucial role in this strategy as AL support a business in attaining its KPIs (Pandya and Al
Janahi, 2021).
 Manage the workforce- Artificial intelligence workforce management tool can store
update, observe, maintain and manage the employees data via advanced tracking,
reporting, analytics and forecasting. in relation to the Mark and Spencer, artificial
intelligence allow allow its manager to make the intelligent decision so that the
productivity can be enhanced.
Impact of artificial intelligence
 Impact long term strategy of business- Applying artificial intelligence may find a
pattern and draw an insight from the data for making a better decision. organisations like
Mark and Spencer are using the artificial intelligence in the customer relationship
management, security intrusions, fraud detection, underwriting and even social media
monitoring for gauging the brand reputation.
 Impact the workforce management- An impact of the AL on management of
workforce is clear- it automate various routine task, make the procedure more effective
and efficient. In relation to the Mark and Spencer, by applying the artificial intelligence,
its manager become able to take better decision regarding company's workforce,
improved business results and also leading to enhanced productivity.
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Critically evaluate importance of the learning and development, talent acquisition and change
management within current global competitive climate.
Importance of talent acquisition in global competitive world
As in today's global business environment, challenges of rapidly changing workforce is
growing. The rigorous approaches to the talent management is also required. Therefore, in this
changing business world, talent acquisition various importance which are mentioned below:
 Embracing technology- as technology is considered central to all aspect of the business
world or environment and recruitment is not exception. Through talent management, the
recruitment strategy within Mark and Spencer can be implemented as has its finger on
pulse and is at forefront of latest development-like social recruiting that is another ways
in which the talent acquisition can deliver all essential competitive advantages in this
global competitive world (Sardana, 2020).
 Flexibility- when hiring a best talent then alone is enough for establishing a competitive
benefit, taking flexible approach to the workforce management can expand advantages
even further. Ability of moving between the RPO and contingent staff solution depending
on the particular needs or requirement at any one time will improve efficiency and speed
of the acquisition efforts. It will make the Mark and Spencer primed and enable the firm
to adopt any economic changes in uncertain time. This this flexibility of Mark and
Spencer put them one step ahead of their rivals across the world wide.
Importance of the change management
In modern business environment, change management play an essential role. It is mainly
concerned with “people side of change, where the organisational project management focus on
the delivering “product s side” of the things. In today's competitive climate its importance are
discussed below:
 Improving performance and productivity- In business, when an organisation adopt the
changes related to the working ways, then it tend to enhance the organisational
productivity. In context of Mark and Spencer, when company adopt new changes, then at
the same time, changes management encourage the innovation. As resulting it guarantees
an improved performance and also place the organisation in more healthier competitive
climate better able to succeed.
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 Reducing cost- In organisation, when positive changes are applied appropriately, then it
help the company in reducing wastage and hence, reduce the costs (Schuster and et. al.,
2020). An effective change management support a business to make smart choice. In
relation to Mark and Spencer, change management decrease risk, enhance its productivity
and help the respective company in improving its probability that enable it survive in
competitive business climate.
Importance of learning and development in competitive climate
In organisation, learning and development is responsible to empower the workers growth
and development of their capabilities, knowledge and skill so that they become efficient to drive
better business performance. Few of its importance are mentioned below:
 Grow the business at global level- Learning and development keep the organisation in
top form, this approach is best ways for Mark and Spencer to become prime in this
competitive climate. According to the Association for talent development within UK, it is
analysed that companies are more competitive agile and involved when knowledge is
freely and constantly shared (Seifi and Razmkhah, 2021).
 Advance the employees career- Learning and development help the employees in
advance their future careers. There are various request from the Millennials and
Generation Z employees to have the learning opportunities on variety of the topics in
most effective accessible manner including an online learning environment.
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CONCLUSION
From the above report, it is concluded that in business the artificial intelligence have
huge role as it help the business and employees in making more efficient. It is something to
embrace and utilise fully for organisational benefit. There are various HR theory that explain
about essential role and impact of the artificial intelligence within business organisation. Along
with this, the talent acquisition is another aspect that help the business in getting most suitable
human resource that impact organisational future success. Change management is also a major
component for the business success as it help the business in growing at global level. Therefore it
is suggested to the business organisation that they establish a learning and development at
workplace so that bushiness scan survive in current competitive climate effectively and
efficiently.
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References:
Books and Journals
Lengnick-Hall, M.L., Neely, A.R. and Stone, C.B., 2018. Human resource management in the
digital age: Big data, HR analytics and artificial intelligence. In Management and
technological challenges in the digital age (pp. 1-30). CRC Press.
Mitrofanova, E.A., Konovalova, V.G. and Mitrofanova, A.E., 2018. Opportunities, problems and
limitations of digital transformation of HR management. In The European Proceedings
of Social & Behavioural Sciences EpSBS (pp. 1717-1727).
Moore, P.V., 2019, July. OSH and the future of work: benefits and risks of artificial intelligence
tools in workplaces. In International Conference on Human-Computer Interaction (pp.
292-315). Springer, Cham.
Pandya, B. and Al Janahi, M.M., 2021. The intervention of artificial intelligence in the
recruitment function in UAE’s hospitality industry. Transnational Marketing Journal,
9(1), pp.89-105.
Sardana, A., 2020. Achieving disruptive growth & technical innovations: in & through the HR.
JIMS8M: The Journal of Indian Management & Strategy, 25(1), pp.56-62.
Schuster, A. and et. al., 2020. Artificial intelligence based fully automated myocardial function
assessment for diagnostic and prognostic stratification following myocardial infarction.
Journal of the American College of Cardiology, 75(11_Supplement_1), pp.1565-1565.
Seifi, A. and Razmkhah, N., 2021. Artificial Intelligence and Challenges ahead on the base of
International Human Rights; with the Emphasis on Right to Work. The Journal of
Human Rights.
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