Contemporary Management Issues in the 21st Century

This report discusses the role and impact of artificial intelligence on overall business strategy and the management of workforce within a global environment. It also explores the importance of talent acquisition, learning and development, and change management in the current global competitive climate.

Contemporary Management
Issues in the 21st Century
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
1. Critically evaluating role and impact of artificial intelligence on overall business strategy
and the management of workforce in organization within a global environment:......................3
2. Critically evaluating and discussing importance of talent acquisition, learning and
development and change management in the current global competitive climate:.....................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................7
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INTRODUCTION
AI is future of business world, artificial intelligence is best technological advancement that
allow company to smoothen their process and gain competitive advantage in the market. AI is
powered technology that focus on using robotic and machine to manage human and business
activity, this technology is slowly adopted by business and will become future that drive success
in the company (Akerkar, 2019). This report will discuss role and impact of artificial intelligence
on overall business strategy and the management of workforce within global environment. At
last this report discuss importance of talent acquisition, learning and development and change
management in the current global competitive climate.
MAIN BODY
1. Critically evaluating role and impact of artificial intelligence on overall business strategy and
the management of workforce in organization within a global environment:
AI is one of the fastest growing technology in the world, AI powered generation is advance
technology that have capability to manage almost every challenging work performed by human.
Artificial intelligence is future of business world, this focus on solution for problem faced by
business in the management process (Brynjolfsson and Mcafee, 2017). AI in business simply
means smart computer that have power to act like human and provide effective solution like
human brain does, there are certain impact of AI on overall business strategy and the
management of workforce in the organization with global environment, these are:
Impact on AI on business strategy:
 Increase productivity: AI is most powerful technology that allow business to increase
their productivity, every business have their own process of crafting effective strategy
and implement it in the business. AI bring easiness in business management process, for
example smart HR is AI powered software that design recruitment and selection template
and perform other function to ensure HR process remain smooth. HR strategies depend
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on AI powered software, every business have software that allow employee to explore
their personal and office detail within few second.
 Reduce complexity: AI help business to craft effective business strategy as this reduce
complexity, AI is technology that allow business to focus on continuous development. AI
technology manage any issue and complexity that arrive in the process, for example; if
business plan to expand their management by adding new system then AI powered
technology will plan which type of system will going to be best in the process (Di Vaio
and et.al., 2020). AI reduce complexity that impact management, business can focus on
overall business strategy.
Impact of AI on management of workforce:
 Clear challenging task: AI is one of the best technology that bring easiness in
management process of workforce, AI clear any difficult faced by employee in
completing their task for example if employee is facing issue system or project
management, then AI powered smart computer can provide effective solution according
to requirement. AI focus on making work easy if any employee is facing issue then AI
solve that issue within the workplace. Every department of business use AI powered
technology that allow them to resolve any challenging task within seconds.
 Boost effectiveness of workforce: AI bring most of solution for every problem faced by
the employee in the management process, many business use AI to provide training and
development to employee allowing them to ensure worker perform their task effectively.
HR and other department use AI to facilitate engagement of employee, AI boost
productivity of employee allowing them to relay on AI powered system for smooth
process and effective management of their task.
 Better decision: This is one of the biggest impact of AI on management of workforce
within business organization, company can make better decision with AI technology for
example if business use AI powered system that allow them to process more accurate,
consistent and correct decision by leveraging dataset with AI. These decision are accurate
and have no system mistake, business can relay on these data to manage workforce in the
business environment (Dick, 2019). Company catch dataset that provide details of
employee and their work in the company, every employee have their own dataset that are
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recorded and analysed by the company to ensure they work according to the requirement
of the company.
2. Critically evaluating and discussing importance of talent acquisition, learning and
development and change management in the current global competitive climate:
Current global environment require business to have most effective HR policy that allow
them to manage their workplace and turn company towards continuous growth, HR process is
important for business as this decide whether a company will fail or they will survive due to
talent in the workplace (Ertel, 2018). Current global environment demand business to focus on
HR and management process, every business want stability in global competitive market which
is only possible if they work with right people and with right resource. HR process allow
business to reduce employee turnover and secure talent in the workplace, HR provide effective
learning and development program that allow business to focus on skill development of
employee allowing them to become effective in the workplace. Business need effective change
management process when they face challenges of global competitive climate, change
management is processes that allow business to effectively manage any change that is
compulsorily needed in workplace, there are certain importance of;
Importance of talent acquisition:
 Competitive advantage: Talent in the workplace means company have stability, every
employee carry some kind of talent that allow them to boost company’s growth with their
ability to manage business and perform their work effectively. Using AI powered
technology, HR process have become much easy where business do not lose talent
because of ineffective HR process. Talent acquisition is one of the most important thing
for every business that provide support to expansion process as well.
 Healthy workplace: Talent in the workplace create healthiness that allow business to
maintain their speed of growth, acquiring right employee at right position allow business
to become effective in the management process. Talented employee are few in labour
market, skills carried by these employee are valuable for business. Skilled worker make
workplace more effective as they share their working pattern and knowledge with other
employee allowing them to become effective as well and provide internal stability to
business.
Importance of learning and development:
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 Improve efficiency: Learning and development is one of the most important element
process that allow employee to explore different area of development. Every business
provide effective learning and development program that allow employee to gain as much
knowledge as possible and help business to improve employee skills and to reduce
employee retention (Flasiński, 2016). Learning program may include some of the
important phase, learning promote skill development process that allow workplace to-
because effective.
 Boost productivity: learning and development boost productivity because business
focus on employee and provide them every essential things in the work. Learning
program are arranged by the organization, for example learning of system management is
one of the most common program that is arranged by the company that allow employee
to learn something about system and how this work in the workplace area. employee feel
valuable when company provide learning and development to them, they give their best
to boost their productivity in the workplace.
Importance of change management:
 Reduce cost: Change management is one of the most important process in the business
organization, this not only allow company to bring major changes in the work and
management but this allow them to reduce cost occur due to unchanged business
structure. When business focus on applying change in the workplace then they need to
add new things, adding simply means cost will be high but it reduce overall cost that
occur in the management of the business (Jackson, 2019). For example; if cost is
occurring in employee training process then with change management, company can
bring change in training process and add new style of training allowing company to
reduce employee turnover.
 Better and effective decision: Change management allow business to take better and
effective decision, when business think of changing whole organizational structure then
they have to consider change management process. Decision will be improved because
this provide effective solution is company is facing any issue. For example; if
organization plan to bring change in their IT area then they can improve security of their
employee and their work and allow company to make effective decision that is why
change management is important in global competitive market.
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CONCLUSION
This report has discussed artificial intelligence and its importance in the business organization.
Later this report has discussed role and impact of artificial intelligence on overall business
strategy and the management of workforce within global environment that include impact on
business strategy allowing them to survive high competitive market. At last this report has
discussed importance of talent management and talent acquisition in the business that allow them
to make workplace more effective with talented employee and discussed importance of learning
and development and importance of change management in the current global competitive
climate.
REFERENCES
Books and journals
Akerkar, R., 2019. Artificial intelligence for business. Springer.
Brynjolfsson, E. and Mcafee, A.N.D.R.E.W., 2017. Artificial intelligence, for real. Harvard
business review, 1, pp.1-31.
Di Vaio and et.al., 2020. Artificial intelligence and business models in the sustainable
development goals perspective: A systematic literature review. Journal of Business
Research, 121, pp.283-314.
Dick, S., 2019. Artificial intelligence.
Ertel, W., 2018. Introduction to artificial intelligence. Springer.
Flasiński, M., 2016. Introduction to artificial intelligence. Switzerland: Springer International
Publishing.
Jackson, P.C., 2019. Introduction to artificial intelligence. Courier Dover Publications.
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