Contemporary Management Issues in the 21st Century

This report evaluates the role and impact of Artificial Intelligence on business strategy and workforce management, and the importance of talent acquisition, learning and development, and change management in the current global competitive climate. It discusses the use of competitive strategy models and HR theory to critically evaluate the impact of AI, and the strategies for talent acquisition, learning and development, and change management. The report concludes that change is the only constant in the environment, and organizations need to innovate and change their internal and external processes to achieve growth and productivity.

Contemporary Management
issues in the 21st century
Table of Contents

INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Using competitive strategy models and HR theory, critically evaluate the role and impact of
Artificial Intelligence on the overall business strategy and the management of workforces in
organizations within a global environment..................................................................................1
Critically evaluate and discuss the importance of talent acquisition, learning and development,
and change management in the current global competitive climate............................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
Contemporary issues can be defined as the process of referring an issue that is affecting the
current people or places and that is unresolved. There are many types of contemporary issues
faced by the management department of any organization in the 21st century like uncertainty
about the future, wellbeing of employees, tracking team productivity, shaping the culture of the
company, regulation and compliance and many more(O’Cass, and Wetzels,2018). In this report
the role and impact of artificial intelligence on the overall business strategy and the management
of workforces in organizations within the global environment. The report will also highlight the
evaluation and explanation of the importance of talent acquisition, learning and development,
and change management in the current global competitive climate.
MAIN BODY
Using competitive strategy models and HR theory, critically evaluate the role and impact of
Artificial Intelligence on the overall business strategy and the management of workforces
in organizations within a global environment.
Artificial intelligence can be defined as the ability of a computer or machine which is controlled
by the computer to perform the tasks that are usually done by human beings because these tasks
require human intelligence and judgement.in the 21st century this is one of the most frequently
used technology in almost every aspect for providing personalized recommendations to
particular individuals, which is based on their previous searches or online purchasing.Artifical
intelligence is very much important in commerce as it provides optimized products, inventory
planning and logistics etc. These days artificial intelligence is significantly used in business
management in many ways like it provide a function of automation in which people do not have
to do repetitive activities as a result of automation, it provide an option for data analytics and
also a natural language processing which is beneficial for search engines as it makes them
smarter, chatbots to(Zhang, and Lu, 2021) be more effective and gain the use for those having
any disabilities like hearing impairments.it is also used in other areas in the business strategy
like data transferring, cross-referencing, in predicting the behaviour of customers and providing
suggestions, in detecting frauds and also in advertising and promoting the messages to the
customers for influencing them. Artificial intelligence is also used in boosting the sales of the
organization like it provide the facility of demand forecasting which enables the creation of
automated and accurate sales projections based on the interactions and search history of the
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customer,artifical intelligence aids in lead prioritization which helps in giving ranking to the
customers that are in the pipeline and can be successfully closed the sales and it is also used in
email bot and it has been studied that by the help of Chabot the sales of any organization can be
increased by 67% on an average(Valter, Lindgren,and Prasad, 2018). There are many strategic
business models that are used in business in which artificial intelligence have been used by the
organizations like Real –time ‘cognisense’. This business model is a game changing model and
the aim of this model is to provide real time service that fixed artificial intelligence into the
service provided by the organization. For example, when walking through an airport with indoor
navigation and experiencing a straight-though zero touch, grocery store like amazon go, card
less banking, autonomous car .all these are an examples of this model in which artificial
intelligence have been embedded into the system for providing real time services to the
customers. Another model used in the business strategy in which artificial intelligence is used is
Global AI marketplace. The aim of this model is to provide a common place in market for
artificial intelligence product vendors. For example think Google play, amazon or the appstore.
Google’s introduction of a model search platform is a big step in moving their business into this
direction of artificial intelligence.it has been understood that artificial intelligence has slowly
seeped into the personal and professional lives of an individual.it also helps in managing the
workforces within the organization as it provides the facility of automation and removing the
issue of doing repetitive tasks manually and it will also enhance the performance of the
employees within the organization and therefore which helps in increasing the growth and
success rate of the organization. In an organization, artificial intelligence provides the facility to
the employees by increasing the data and information security function like by providing fully
monitored user controls, also by providing best-in-class 256 – bit TLS encryption system and by
providing the option of GDPR compliance (Robert, and et.al, 2020). This helps in giving a lot of
efforts to the employees that can help them in improving the customer service and helps in
making the smarter decisions of the business.
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Critically evaluate and discuss the importance of talent acquisition, learning and development,
and change management in the current global competitive climate.
Talent acquisition is defined as the process which involves in dealing with the strategies, tactics
and processes in recognizing, hiring and retaining the human resource needed by a company.
This process incorporates the development, implementation and evaluation programs which are
required for sourcing, recruiting, hiring and orienting. Basically it a planned strategy which is
used by the human resource department in order to recruit the best employees for their
organizations.in the current global competitive environment talent acquisition is very important
because of the increasing competition in the target market (Walford-Wright, and Scott-Jackson,
2018). Talent acquisition aims is to focus on having the right talent which are suitable for their
current openings and also give benefits to the organizations in terms of growth and productivity.
There are five stages in talent acquisition and which are described as follows. The first process is
to develop a strategy for talent acquisition which means it would be better to know the
competitors and the target market and also the budget of the company and by getting all this
information, come up with an effective plan for getting the best stakeholders in the organization,
the next process is to build the talent pipelines , after this build a strong employer branding,
having a talent relation management is also beneficial in recruiting the right talent which
involves awareness, consideration and interest, and the last one is recruitment which also
involves five steps like sourcing of candidate, lead nurturing, selection of candidate,
interviewing and the last one is onboarding.
Similarly learning and development is the process in which an organization provides the facility
of learning and development for encouraging the employees in order to achieve the objective
and goals.it is basically the core are of a human resource management and they provide the
learning and development functions by providing training sessions, orientation programs
leadership development programs and many more(Steil,and et.al, 2020) The organizations who
invest in the learning and development of their employees are seems to be more favorable for the
employees as compared to the one who did not provide. There are many ways by which learning
and development programs can be provided to the employees like orientation, onboarding,
technical skills development, soft skills development, training about products and services,
quality training, team training and many more. There are some strategies for learning and
development within the organization like having a mission which helps in defining what the
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team does, setting vision which means what does company wants to achieve, assessing the
business landscape and also the learning team capabilities, examine the employee engagement
program, employee wellbeing, promote learning for lifetime and the last one is to create short
term and long term strategies (Iqbal, and Ahmad, 2021).
Furthermore the change management in this competitive climate can be defined as the process
and method adopted by a company which describes and implement the changes within the
internal and external processes of the organization.it involves preparing and supporting
employees and developing strategic plans for implementing the changes in the organization for
better converting the opportunities into success (Schulz-Knappe, Koch, and Beckert, 2019).
Many a times this becomes a challenging tasks for the employee as well as for the organization
but in order to implement this some planned strategies have to be followed by the company for
getting more growth and those steps are as follows.
 At first it is important to define and change and how this change will benefit the
organization.
 Select the team for change management
 Identify the management sponsorship and secure commitments.
 Introduce and develop some plans for implementation of changes like metrics.
 Collect and analyze the data.
 Quantity gaps and understanding the resistance.
 Modify the plan as required and look back to the implementation step for cross verifying.
All these are the steps involved in implementing the changes in the organization for achieving
growth and success as due to the increasing competition within the target market it becomes
very essential for the organizations to give their best as compared to the others and apply some
changes and innovations in order to making the existing products or services more effective
(Stouten, Rousseau, and De Cremer, 2018).
CONCLUSION
From the above report it has been studied that there are many contemporary issues faced by the
organizations in the 21st century. Also the use of artifice intelligence have been explained in the
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overall business strategies and the management of workforces within the organizations. The
report have also mentioned the importance of talent acquisition within the organization in this
competitive environment and why learning and development is the core are of human resource.it
has been said that change is the only constant in the environment therefore it is very important to
change the internal and external process of the organization and make some innovations in order
to have more growth and productivity.
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REFERENCES
Books and Journals
O’Cass, A. and Wetzels, M., 2018. Contemporary issues and critical challenges on innovation in
services. Journal of Product Innovation Management, 35(5), pp.674-681.
Zhang, C. and Lu, Y., 2021. Study on artificial intelligence: The state of the art and future
prospects. Journal of Industrial Information Integration, 23, p.100224.
Valter, P., Lindgren, P. and Prasad, R., 2018. Advanced business model innovation supported by
artificial intelligence and deep learning. Wireless Personal Communications, 100(1), pp.97-111.
Robert, L.P., and et.al, 2020. Designing fair AI for managing employees in organizations: a
review, critique, and design agenda. Human–Computer Interaction, 35(5-6), pp.545-575.
Walford-Wright, G. and Scott-Jackson, W., 2018. Talent Rising; people analytics and
technology driving talent acquisition strategy. Strategic HR Review.
Steil, A.V., and et.al, 2020. Perceived learning opportunities, behavioral intentions and
employee retention in technology organizations. Journal of Workplace Learning.
Iqbal, Q. and Ahmad, N.H., 2021. Sustainable development: The colors of sustainable leadership
in learning organization. Sustainable Development, 29(1), pp.108-119.
Schulz-Knappe, C., Koch, T. and Beckert, J., 2019. The importance of communicating change:
Identifying predictors for support and resistance toward organizational change
processes. Corporate Communications: An International Journal.
Stouten, J., Rousseau, D.M. and De Cremer, D., 2018. Successful organizational change:
Integrating the management practice and scholarly literatures. Academy of Management
Annals, 12(2), pp.752-788.
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