Contemporary Management Issues in the 21st Century

This essay explores the impact of AI on business strategy and management, talent acquisition, learning and development, and change management in the global business environment. It discusses the role of competitive strategy model and HR theory in evaluating the impact of AI on business strategy and management. It also critically evaluates the importance of talent acquisition, learning and development, and change management in the global business environment.

Contemporary Management
Issues in the 21st Century

TABLE OF CONTENTS
INTRODUCTION................................................................................................3
MAIN BODY.......................................................................................................3
Using competitive strategy model and HR theory for evaluating role and impact of AI on
overall business strategy and management.............................................................................3
Critically evaluating and discussing the importance of talent acquisition , learning and
development and change management in the global business environment..........................5
CONCLUSION.....................................................................................................6
REFERENCES.....................................................................................................7

INTRODUCTION
Global business environment is mainly defined as the surroundings which impacts the
business practices conducted at global level , which affects the decision-making processes in
the company for achieving the common goals. The contemporary global business issues are
mainly defined as the barriers which hinders in operating business it mainly includes the
cultural differences, language barriers, currency fluctuations, exchange rates, policies and
politics impacting the global business. this essay provides details about evaluating the role
and the impact of Artificial intelligence on the business stagey and the business management.
Further discussing the importance of talent acquisitions, learning and development and
change management in the global environment.
MAIN BODY
Using competitive strategy model and HR theory for evaluating role and impact of AI on
overall business strategy and management
AI is mainly used by various organisations, which helps in supporting in automating
the business processes and better engaging all the consumers and employees working the
global business. With adopting the porter competitive strategy model helps in attaining
competitive position with adopting the suitable business strategy.
The cost leadership strategy: It is the business stagey mainly adopted as for
lowering the cost for increasing the revenues and profits by maintaining the average prices.
With adopting this strategy mainly help in increasing the market shares with lowering the
prices for gaining the reasonable profits by reducing the cost. With adopting the AI in the
business process it mainly helps in automating all the global procedures of the business by
minimising the labour cost (Porter's Generic Competitive Strategies, 2022). This assist for
improving the quality of the products for achieving more affordable and average prices range
with using this technology it helps in reducing the cost and learning more profits with
automating the processes and taking the sat business decisions.
Differentiation strategy: This strategy adapted by various global business for
attaining competitive positions by selling differentiated products to large number of
consumers distinct from the competitors in unique form. Organisation mainly uses creative
way as for producing the products with offering higher quality. With adoption the
differentiation strategy helped in attaining competitiveness in operation in the dynamic global

business environment (Petrin, 2019). With adopting the AI mainly helps in producing the
products by minimising the choosing and using technology which helps in more innovating
products. As this technology mainly helping in optimising the operations and supports in
producing the innovative products
Cost focus and Differentiation focus: In adopting the cost focus strategy mainly by
targeting the small market . as with targeting the small niche market and supplying the
products to the particular market by lowering the process helps in attaining competitive edge
and gaining the stability to the company for surviving into the long run. Thus, for establishing
the cost focus strategy in achieving the competitiveness using the AI helps in streamlining the
flow of products and enquiring the efficient management of all the flow by reducing the
prices and targeting the small market (Carter, 2018). also minimises the time-consuming task,
as with using the AI which results in reducing the cost and increasing profit by targeting the
small market which helps operating the global business and achieving the competitiveness.
Further with the HR organisational change theory helps in defining about adapting
the changes which impacts the behaviour and the processes of the business and its operations.
With changing the business environment post pandemic , with the introduction of various
new technologies have forced various business in adapting the new technologies and adapting
the changes for reducing the risk and achieving greater heights with increasing revenues. As
with adopting the technology in operating the global business in successful manner , AI
mainly helps in changing the process adopted by the HR in the company . this mainly
supports in developing and responding to all the changes impacting the business operations
with using the automated procedures (Guide to Theories in Human Resource Management,
2022). As these influences mainly helped in changing the global structure, recruiting
procedures, rewarding employees and retaining with using various strategies.
Using the AI in the business process mainly helps in improving employee’s
engagement, supports the developments of workers, assist in tracking the employees and
policies adopted by the business for operating in global environment. Furthermore, it mainly
supports in increasing the productivity of employees for working in the company (Haenlein
and et.al., 2019). This mainly helps in adopting various new processes for recruiting
employees with using the technology , hiring and selecting the potential employees and
compensating with using the AI technology. Thus, with using the organisational change
theory of HR helps in adopting the new technology which helps in supporting and speeding

up all the task performed by the HR in the business. As it mainaly minimises the time by
automating various processes of hiring, selecting , recruiting , compensating employees
which aid in improvising the employee’s experiences by increasing productivity for working.
Critically evaluating and discussing the importance of talent acquisition , learning and
development and change management in the global business environment
Acquiring talent in the business is mainly helped is building and designing the skilled
team which mainly supports ion operating the business in the global world by meeting the
needs and objectives for operating global business. Talent acquisition mainly supports the
global business by acquiring the right talents for the right job. This business strategy mainly
helps in acquiring the right personnel and aids in achieving the competitive position by
generating the great business values with operating and working with the right talent. This
mainly helps the business in order to achieve and save the time and efforts also the expenses
for advertising job and recruitment (Pereira andet.al., 2022). For operating the business into
global environment this forward-looking approach helps in hiring various candidates which is
fit for the position and the future meeting needs of operating the company with accruing
various skills and capabilities.
Further more it helps in reducing the risk by employing competent employees for
working in the company as for achieving the desired goal and mission for operating the
business into global world. Also, by acquiring the potential talent in the company helps in
boosting the business productivity and used for hiring the proficient employees which
supports the operation of global business in saving cost. Moreover, learning and development
as a strategy for operating the global business mainly help in retaining and acquiring the
talented employees. With training employees for developing important skill and abilities
impacts and supports the global business in achieving the productivity and boosting
employee’s morale with addressing various earning and development aspects (Weber and
et.al., 2022). This mainly help in operating the business by learning more revenues by working
with competent and skilled employees with training and educating the necessary skills and
knowledges. moreover, change management in the company is very important as it helped in
addressing various changes and the new trends which impacts the global business operations.
managing change mainly help in increasing productivity and improve the profitability of
global business as the employees working in the company , by successfully adapting and

managing the changes aid in supporting and working effectively by shifting the processes
according to the changes for working better and achieving the productivity and effectiveness.
Due to Changing the times and adopting the latest technologies for working with the
AI mainly help in optimising the global business approaches as this mainly help in machining
decision in easy manner and helped in addressing the future needs of acquiring the talent
personnel for working in the company with achieving effective business objectives. AI has
significant impact on acquiring talent and recruiting the staff personnel from onboarding to
engaging staff by motivating for working efficient. Further it helps in learning and
development by saving time with optimising all the tasks which mainly supports in operating
the business globally (Echeberria, 2022). As it increases the productivity with making fast and
quick decisions in the competitive global environment. Thus, adopting AI in working and
operating the global competitive business mainly supports the business in automating the
processes and improves the productivity with machining fast decisions in the business. Also,
it impacts the business revenues with acquiring high cost and the global regulations for
operating and using this technology impacts the business and the decision-making processes.
CONCLUSION
From the above essay it can be concluded that, global business environment is mainly
the process of conducting the activities and the operations in globally and its surrounding
impacting the business operations. various issues faced in the global business management
are the cultural, language , currency fluctuations and rules and regulations of the government.
Implementing the AI helps in increasing productivity in working and helps in strengthening
the business decisions in the global business environment. Also, by hiring the right talents for
working globally helps in achieving business success. Further the learning and development
helps in developining abilities in employees for working globally and by adapting the
changes and latest trends helps in achieving success in global business operations.

REFERENCES
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Carter, D., 2018. How real is the impact of artificial intelligence? The business information survey
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Haenlein, M and et.al., 2019. Artificial intelligence (AI) and management analytics. Journal of
Management Analytics. 6(4). pp.341-343.
Petrin, M., 2019. Corporate Management in the Age of AI. Colum. Bus. L. Rev.. p.965.
Pan, Y and et.al., 2022. The adoption of artificial intelligence in employee recruitment: The influence
of contextual factors. The International Journal of Human Resource Management. 33(6). pp.1125-
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Pereira, C. S., Durão, N., Moreira, F. and Veloso, B., 2022. The Importance of Digital Transformation
in International Business. Sustainability. 14(2). p.834.
Echeberria, A. L., 2022. Artificial Intelligence for Business. Springer.
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Guide to Theories in Human Resource Management. 2022.[Online] Available through <
https://www.ilearnlot.com/guide-to-theories-in-human-resource-management/54689/>
Porter's Generic Competitive Strategies.2022. [Online] Available through <
https://www.ifm.eng.cam.ac.uk/research/dstools/porters -generic-competitive-strategies/>