Contemporary Management Issues in the 21st Century

This essay explores the concept of causation and effectuation in understanding business management issues in the contemporary global business environment. It discusses major issues and challenges faced by businesses and organizations in the 21st century, including cultural differences, language barriers, foreign policies and politics, international accounting, managing global teams, and company structure. The essay recommends resolving these issues and challenges to maintain consistency in business and achieve goals and objectives effectively.

Contemporary Management
Issues in the 21st Century
Essay

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Contemporary issues are the events, opinions, topic or ideas which are relevant in present
days. The artefacts have been assumed by the scholars in economics and management which are
organization, market and firms (Kathiravan and Rajasekar, 2018). Venture creation is the process
of turning an idea into business which can be successful as well as attract investors. The
entrepreneurs or potential entrepreneurs try to identify the business ideas and technologies so
that they can turn that idea. They pay attention to the media which relates to that venture
creation.
MAIN BODY
Concept of causation and effectuation and critically discussing this statement in
understanding business management issues in the contemporary global business
environment
Causation and effectuation is an approach. In this causation states that the focus of
entrepreneurs should be on the goal which is predefined and only then aim to identify the
methods to attain those goals. The effectuation approach defines that entrepreneurs must focus
on in hand the time and then aim to materialize those into goals which were not predefined
necessarily (Vanderstraeten, Hermans, van Witteloostuijn and et.al., 2020).
As in the management and economic theories, the existence of artefacts have been
assumed. But it is argued that the description of those artefacts needs the notion of effectuation.
It means here the ideas of using the materials in had is considered more important than the ways
to attain some predefined goals. The causation as they believe us a logic for prediction and the
effectuation otherwise is a logic for control. The effectuation is demonstrated through various
business examples as well as through some realistic experiments. They are connected with the
existing theories and to empirical experienced have been examined.
Process of Causation and effectuation
The causation processes takes to create the particular effect. But the effectuation process
focuses on selecting the possible effects which are identified and created. For the human

reasoning causation and effectuation are the integral parts which are combined with taking
decisions and working on actions (Galkina and Jack, 2021).
It should be taken into consideration effectuation processes are not better than causation
processes. Rather, it is to be decided under circumstances of what types of processes gives the
particular disadvantage and advantage for an issue which is to be resolved by future empirical
studies (Arvidsson, Coudounaris and Arvidsson, 2020). A decision which involves effectuation
involves various provided set of means which are usually the relatively unalterable features or
circumstances of a decision market. It also involves the set of effects of the generalized
aspirations which are mostly through the decision-making processes.
Business management is defined as the managing and coordinating the business
activities within organization (Mosteanu, Facia, Torrebruno and et.al., 2019). Understanding
business management is very important which helps in knowing that how effectively the rules
and regulations are being implied on the employees and this is how the progress and
performance of the employees within organizations and business are being evaluated.
Apart from this, there are business management issues which are described in the
contemporary global business environment. While regularizing the business, there are some
major concerns as to how significantly the management issues are being drawn upon. Some
major management issues which are mentioned as — cultural differences, language barriers,
foreign polices and politics, international accounting, managing global teams, company structure
etc (Luthans and Doh, 2018). These are some major global business environment issues which
are mentioned and are considered as important to be solved at large scale.
Along with this, there are some major contemporary major issues which are mentioned as
— issues in the management of human resources, finances and marketing issues, operations and
production issues of the organization at large scale. These issues affect the global business
environment with diverse factors (Kumar, 2020). Organization along with business entities are
facing major issues and challenges which is affecting the growth and development of the
organization. Business management issues impacts the progress and factors of growth at large
scale. The performance of employees is also affected due to the challenging factors which the
business is facing in the global business environment. It is very important to resolve the issues
and challenges which the businesses and organizations are facing. The causation and effectuation
process helps in understanding the issues and challenges which the business is facing. This also

incurs in analysing that the entrepreneurs in knowing that how effectively and in appropriate
manner the issues and challenges are being addressed. The entrepreneurs are able to analyse
what changes the required for removing the issues which the global business is facing.
In the global business environment, there are positive and negative impacts which affects
the business and the employees within organization. The global business environment helps in
knowing how the causation and effectuation processes are taken into consideration at large scale.
Entrepreneurs are forming the basis through which global business environment is taken care of
and how effectively the employees are working within organization (Moon, 2022). Apart from
the growth and development aspects, there are negative aspects which are affecting the business
at global scale. This creates difficulties and problems for the entrepreneurs to take concern of the
work and performance of the employees. The main aim of the entrepreneurs is to analyse the
operations and production so that they work smoothly in the organization. This helps in creating
value for work and how effectively the employees are handled globally. There are various
business and global strategies which helps in indicating that there is need for improvement in the
working and organizational structures to be reframed so that the employees are aware of the
positive outcomes creates value for actions taken (Sharma, Leung, Kingshott and et.al., 2020).
The value of global business environment helps in describing the aspects of how appropriately
and in significant manner the business is being implemented. There are major changes and
modifications which should be undertaken In ensuring that the global business environment is
taken into concern for growth and development at large scale.
It is very important that the business management issues are being solved so that
consistency in the business is maintained and goals and objectives are achieved in effective way.
The various issues which were mentioned earlier comprised of how effectively the organizations
should be considerate towards the operational, financial and human related issues. These issues
and problems are solved to ensure safe and secure organizational structure so that the employees
within organization are entitled to perform better and contribute to the growth and development
of the organization (Hamilton and Webster, 2018). The causation and effectuation aspects helps
the entrepreneurs to value the business which is being undertaken at large scale. This helps in
knowing the measures as to how the management within the business is organized and are
changing their patterns and practices so that the global business focuses on expanding the
business at large scale.

It is very important that the global business environment focuses on framing the
strategies which helps in developing the scale of business at large scale. The global business
environment helps in understanding and measures as to how effectively the businesses should
consider the positive and negative measures of success overall within the business.
There are some critical factors which affects and influences the progress of organization
and the business (Whysall, Owtram and Brittain, 2019). These critical factors also affects the
understanding which the businesses have for the growth and are planning and coordinating the
aspects as to how significantly the modifications are being done. It is very important to resolve
the issues and problems which the entrepreneurs are facing at large scale. There are major
aspects for the changes should be framed which helps in resolving the issues at large scale.
This helps in knowing the aspects of development and growth which enables the progress
which is to be measured in effective manner (Morozova, Popkova and Litvinova, 2019). It
becomes very important to resolve the issues and problems so that global business objectives
within the business are being achieved at large scale. There are many aspects of how the global
business environment is considered at large scale. Business management issues when solved
helps in stabilizing the organization structure. There are also specific structures of roles and
responsibilities which are there in the business.
CONCLUSION
Thus, it is concluded from the above essay that concepts of effectuation and causation
were explained in brief with the process of causation and effectuation at large scale. Further,
understanding dynamics in the contemporary global business environment for the business
management issues was also explained in detail which provided positive and negative aspects
within description. Therefore, it was also recommended in essay to resolve the business
management issues.

REFERENCES
Books and journals
Arvidsson, H.G., Coudounaris, D.N. and Arvidsson, R., 2020. The shift from causation to
effectuation for international entrepreneurs: Attitudes and attitude change versus social
representations. International Journal of Entrepreneurship. 24(3). pp.1-23.
Galkina, T. and Jack, S., 2021. The synergy of causation and effectuation in the process of
entrepreneurial networking: Implication for opportunity development. International
Small Business Journal. p. 02662426211045290.
Hamilton, L. and Webster, P., 2018. The international business environment. Oxford University
Press.
Hopkinson, P., Zils, M., Hawkins, P. and et.al., 2018. Managing a complex global circular
economy business model: opportunities and challenges. California Management
Review. 60(3). pp.71-94.
Kathiravan, C. and Rajasekar, A., 2018. A global perspective of conflict management & conflict
management styles strategies to manage workplace conflict in the contemporary issues
in business scenario. International Journal of Advanced Scientific Research &
Development. 5(3). pp.1-7.
Kumar, S., 2020. Relevance of Buddhist Philosophy in Modern Management Theory. Psychology
and Education. 58(2). pp.2104-2111.
Luthans, F. and Doh, J.P., 2018. International management: Culture, strategy, and behavior.
McGraw-Hill.
Moon, H.C., 2022. Global business strategy: Asian perspective. World Scientific.
Morozova, I.A., Popkova, E.G. and Litvinova, T.N., 2019. Sustainable development of global
entrepreneurship: infrastructure and perspectives. International Entrepreneurship and
Management Journal. 15(2). pp.589-597.
Mosteanu, N.R., Facia, A., Torrebruno, G. and et.al., 2019. Fractals–A Smart Financial Tool to
Assess Business Management Decisions. Journal of Information Systems & Operations
Management. pp. 45-56.
Sharma, P., Leung, T.Y., Kingshott, R.P. and et.al., 2020. Managing uncertainty during a global
pandemic: An international business perspective. Journal of business research. 116.
pp.188-192.

Vanderstraeten, J., Hermans, J., van Witteloostuijn, A. and et.al., 2020. SME innovativeness in a
dynamic environment: is there any value in combining causation and
effectuation?. Technology Analysis & Strategic Management. 32(11). pp.1277-1293.
Whysall, Z., Owtram, M. and Brittain, S., 2019. The new talent management challenges of
Industry 4.0. Journal of Management Development.