Contemporary Management Issues Assignment - ZARA
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Added on 2020-11-12
Contemporary Management Issues Assignment - ZARA
Added on 2020-11-12
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Contemporary ManagementIssues
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. Understanding of the key dynamic forces impacting on business and society.......................12. Critical evaluation of the relationship between above determined forces in context ofstrategic decision making............................................................................................................13. Preparing an evaluation of an organisation’s responses to key dynamic forces in thecontemporary business world. ....................................................................................................34. Decision making tools to address contemporary drivers for change....................................45. Analyse the relevant theoretical foundations to support the identification and application ofeffect corporate responses to contemporary management issues................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8Books and Journals.....................................................................................................................8
INTRODUCTIONContemporary management issues is defined as the way of thinking that is required whilein case of any problem arises. Management has to make decisions after considering every issueand number of individuals in the society. It can be said that there are various problems whicharises and decision are taken according to that only. In this present report ZARA company hasbeen chosen for assessment. ZARA is a clothing fashion brand which has 7475 stores all over theworld. Organisation was founded in the year 1976 and whose headquarter is in Spain. In thispresent assessment major focus will be on the Understanding of the key dynamic forcesimpacting on business and society. In addition to this, decision making tools to addresscontemporary drivers for change will be discussed in detail. Other than this, an evaluation will beprepared on ZARA response to the key dynamic forces in the business world. Furthermore,relevant theoretical foundations to support the identification and application of effect corporateresponses to contemporary management issues will be covered in brief. MAIN BODY1. Understanding of the key dynamic forces impacting on business and society.In every business there are various factors which affects the organisation in some or theother way. In this recent times, there are extreme changes has witnessed in the society due togrowth in every sector different cultural and change in mindset of people. Every person startedfocusing more on earning and living a good life. ZARA is a clothing brand which has alwaysfocused on providing the latest fashionable trending clothes to its customers. There are somedifferent forces which affects the business of ZARA. The same are briefly discussed below indetail. Social factors : As in the world every person is majorly involved in buying and maintaintheir standard of living. Due to this clothing sector has expanded to a great extent and majorbusiness has developed by the same. The emerging economic powers has majorly developed thebusiness of companies Like ZARA due to shifting of people towards the fashionable clothes. Innation like China and India purchasing power of people has grown to a great extent. This alsohas given major business to ZARA and thus the organisation has managed the same by givingmajority of its business through it. On the other hand, as per Schaltegger and Burritt (2017), ithas been argued that these emerging nation also came up with different clothing brands in their1
own nation. This has affected the business of ZARA in countries like India and china. In thesedeveloping nation people are also highly involved with there culture and traditions. So this factoralso affects the business of ZARA because the organisation only sales highly fashionable clothesother than the traditional clothes. Technological factor : It is a factor which helps in the development of business as if theorganisation will focus on more advancement. ZARA has always believed in developing itsbusiness through different technological advancement. This has made the organisational growthto a different extent. Now the management take such decisions which give advancement to thecompany. ZARA has also made such advancement in communication sector and also throughsocial media bonded emotionally with people. Whereas, as per Van Niekerk (2017), it has statedthat this factor is adopted by developing nations in great way. Russia and china has developeddifferent new machineries for manufacturing of clothes which leads to cost effective clothing.This has affected the sale of ZARA as the developing nations have reasonable clothing market.This has affected the pricing strategies of the organisation, as ZARA have to take decisions on itspricing in developing nations. ZARA should lower down its prices to sustain in long term andmaintain its sales In nations like India, China and Russia. Economic forces : This force has affected majorly to the organisation in making their decisionsand has a great impact on the business of the company. Individual Income of people is increasingin every nation due to various factors and this also leads to overall growth of the nation. SoZARA gets affected and make decisions by highly concentrating on these factor. This will allowthe organisation to grab the golden opportunities when the nation will be touching raise in itseconomy. ZARA has also got affected and due to the rise in economy of developing nations andthe competitive advantage. Management decision making get affected by such factors and it hasa great impact on the decision making of the company. In addition to this, the economic factoralso includes the purchasing power of people and raise in that has leads to growth and expansionin the business of the organisation. This is the key factor of growing the concept and making theeffect of business on the same. Political factors : There are different political aspects in any nation which affects theorganisation to a great extent. This factor has a great impact on the decision making of theorganisation as trade policies and taxation factors affects the entire business policies. Sales andprofits of the organisation gets affected by the different political aspects. That is reason behind2
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