Contemporary Management Issues in the 21st Century

This essay explores the impact of AI on business strategy and workforce management, talent acquisition, learning and development, and change management in the global competitive climate. It critically evaluates the role of AI in overall business strategy and workforce management within the global environment. It also discusses the importance of talent acquisition, learning and development, and change management within the global competitive climate. The subject is contemporary management issues in the 21st century.

CONTEMPORARY
MANAGEMENT ISSUES IN
THE 21ST CENTURY
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Critically evaluating the role of AI on overall business strategy and workforce management
within global environment...........................................................................................................3
Discussion on importance of talent acquisition, learning and development and change
management within global competitive climate..........................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
New emergence of the technologies is shaping the market; businesses are more relying on
the technologies to carry out their work with accuracy (AlSheibani, Cheung and Messom, 2018).
Artificial intelligence technology is one of them which is adopted at wider range by the business
because of its benefits which it offers in making the better and right decisions for the further
business move, but somehow it is also threat for the people because machines are replacing
humans that is rising the unemployment issue, during covid pandemic some traditional
businesses and other businesses are forced to use the technologies to sustain in the market. thus
this essay will highlight the competitive strategy and HR theory to critically evaluate role of AI
on business, it further evaluates the importance of talent acquisition, change management within
global competitive climate.
MAIN BODY
Critically evaluating the role of AI on overall business strategy and workforce management
within global environment
According to the porter generic strategic model there are three type of factors which the business
can commence with which highlights the cost leadership, differentiation and focus. Due to covid
it rises the demand of technologies to adapt in business regarding cost leadership strategy where
the businesses aims to offer the products which is affordable to the customers, thus with the help
of AI businesses can easily source for the data that helps in producing the products and services
that meets the consumer requirement, overall it has the positive impact over the business
(Fountaine, McCarthy and Saleh, 2019). Thus for the differentiation strategy, AI often leads to
provide the data which helps in producing the products which are rare and differs from the
rivalries products. Focus competitive strategy mainly involves the focusing efforts on consumers
who generally have the specific requirement, it allows the businesses to design and deliver the
product on affordable price to the consumers. Product also consists of the unique features to meet
the consumer requirement, while it can be done by using AI technology as it helps in predicting
the customer preference so that product can be made accordingly.
HR theory which are strategic contingency theory that focus on two concepts which are
contingency and strategy based on this it helps in increasing the focus on task that has to be
done, thus in such leader plays a significant role to solve the task problem, but it does not mean
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to completely rely on their ideas. AI in this helps in predicting the outcomes of any task so that it
can be done in that ways it leads to the better decisions that can be easily deployed within the
workplace to make the desirable goals achievable. Thus AI have the major impact over the
business it leads to formation of the better business strategy that can be incorporated for
delivering the better results. It also helps in making businesses to do personalise marketing as
this technology fasten the decision making process as well as facilitates the sales reps to ends the
deals. It also provides the complete snapshot of individual consumer as what they prefer in the
product so that businesses can do personalise marketing to meet the requirement of the
consumer.
For the management of the workforce it enables the businesses to easily track the
performance of the employees for an instance it collects, maintain and upgrade the data of the
individual employee by using the advanced tracking and other analytics, thus with this manager
can easily gain the knowledge about the individual work and proceed to carry out better
decisions for improvising the productivity (Canhoto and Clear, 2020). Deployment of the AI has
provided the different roles to many employees as with this many jobs are concentrated on
maintaining the strategic initiatives by utilising the analytics tools for facilitating the better
decision making. As for managing the workforce within the global environment AI helps the
businesses to track the employee performance within the global environment, with this they can
easily analyse the need of training and development and to conduct the rewarding based
activities for the employees who have excel the role in task delivery. Overall it can be said that
AI have the influential impact over the business that covers the both internal structure and
external aspects, for instance it helps the businesses to focus on maximising their employee
productivity, as well as to find the consumer trends for personalise marketing. But it does not
mean to rely on this technology as it involves the large investment also bots and other
machineries required a time to time maintenance, additionally it also required a skill full
employees who have the knowledge to operate with such technology (Bogoviz and et.al 2019).
Discussion on importance of talent acquisition, learning and development and change
management within global competitive climate
Talent acquisition refers to the ongoing process for identifying the specialist, talent that
helps in making organisational goals achievable. It comes under the human resource planning to
find the candidate who possess a good skill sets and knowledge that supports the business’s

vision statement. It is important because in the global competitive environment, competition
among the market is cutthroat or intense every business is aiming to deliver the product that is
adopted by the large audience, thus in such talent acquisition is important to hire the right
candidate whose knowledge and specialism leads the firm to achieve competitive advantage.
Thus in such AI plays a significant role to source the prospect staff through the on boarding and
engagement, it guides the recruiters to source the appropriate candidate that have enough
knowledge in organisational work system (Hung and Sun, K 2020). Every business have the set
up for hiring the talent that completely compliments their working environment, thus AI helps in
finding the best options for the businesses. Learning and development is the organisational
requirement to analyse the need and provide the training for increasing the knowledge among the
employees. It plays a significant role in shaping the knowledge of the employees so that they
sharpen their knowledge in particular topic which helps in delivering their task with more
productivity and efficiency. it is the responsibility of HR to analyse the needs of the work place,
as it plays a significant role for streamlining the business processes. As deploying with the AI
leads in analysing the needs of learning and development, as it also enables to know the
knowledge level of each individual that also helps in providing the personalised learning. Thus
with every employee can be able to develop skill sets which they are lacking in it, thus their
knowledge will help them to deliver the better outcomes.
Change management refers to the systematic process for efficiently dealing with the
change, transformation of the business’s goals, process. Change is becoming the major practice
for every business to get to used with it, for an example because of the covid pandemic work
from home concept is introduced before this people couldn’t imagine to do work from their
home premises (Chui and et.al 2018). Thus it is important for the company to have the work
culture where employees are always prepared for transition, they need to cultivate the culture
where employees have the mentality to adapt the certain change for their organisational benefit.
Main purpose of the change management is to executing the strategies for the efficient change
and encouraging the people to adapt the change. As effective changes make the organisation to
make the right choices and to make the smarter move for their business, as due to the rapid
industrialisation it is important for the firms to expand their services for that it is important to
have the workforce which helps them in achieving their desired goals and objectives. In Such AI
technology helps the change managers to operate their approaches and increase the better
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decision making process for accelerating the change process by utilising the best talented
employees. As with this they can easily make their team to adapt the change that plays an
significant role for the business (Kelley, 2022). Thus it is also important that businesses are
growing internationally which is creating the intense market environment, in such it is also
important for the firms to have the better employees who have the technical knowledge to deal
with the technologies and its associated tools and equipment. For that businesses can proceed to
give the training to enhance the technical knowledge among the existing consumers.
CONCLUSION
From the above report it is concluded that Artificial technology is the new demand of the
business, it leads to the better outcomes also helps in streamlining the business functionalities.
With this business can easily make out the best decision that leads to develop the products and
services to deliver it to the consumers to meet their requirement. Report have illustrated the
competitive strategy models that highlighted the porter generic model to critically evaluate the
use of AI within the business, it also covered the HR theory that is contingency strategic theory
to evaluate the role of Ai for managing the workforce for the businesses within the global
environment. it finally concluded with the discussion of talent acquisition, learning and
development and change management.

REFERENCES
Books and journals
AlSheibani, S., Cheung, Y. and Messom, C., 2018. Artificial Intelligence Adoption: AI-readiness
at Firm-Level. In PACIS (p. 37).
Bogoviz, A.V. and et.al 2019. Diversification of educational services in the conditions of
industry 4.0 on the basis of AI training. On the Horizon.
Canhoto, A.I. and Clear, F., 2020. Artificial intelligence and machine learning as business tools:
A framework for diagnosing value destruction potential. Business Horizons. 63(2).
pp.183-193.
Chui, M. and et.al 2018. Notes from the AI frontier: Insights from hundreds of use
cases. McKinsey Global Institute, p.28.
Fountaine, T., McCarthy, B. and Saleh, T., 2019. Building the AI-powered organization. Harvard
Business Review. 97(4). pp.62-73.
Hung, L.H. and Sun, K.S., 2020. HOW WILL AI CHANGE/IMPACT MANAGEMENT AND
BUSINESS WORLD. Artificial Intelligence and its Impact on Business, p.17.
Kelley, S., 2022. Employee perceptions of the effective adoption of AI principles. Journal of
Business Ethics, pp.1-23.
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