Contemporary Management Issues in 21st Century - Analysis of External Factors and Role of Information and Technology

This report analyses the impact of external factors and role of information and technology in contemporary management. It includes a case study of Tesco's strategy to deal with COVID-19 and recommendations on new initiatives for survival in competitive marketplace.

Contemporary
management issues

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
ESSAY.............................................................................................................................................4
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
It is essential for an organisation to manage all the contemporary management issues in
order to gain growth at the marketplace (Connolly and McKhann, 2017). There is a need of
professional management in a company to develop operations according to the contemporary
world. In this project different dimensions of contemporary management are explained in a
precise manner. This project contains analysis of external factors and theories that impact
functioning of a business. In this project, role and impact caused by information and technology
is also explained in a systematic manner. This project also includes recommendations on new
initiatives that companies should adopt in order to survive in competitive marketplace. In this
report example of Tesco company is taken into consideration which is a major multinational
retail company based in United Kingdom.

MAIN BODY
ESSAY
The External factors which are present in the outside or macro environment, impacts
significantly on different functions and operations of a company. It is the moral responsibility of
management to manage teams in a precise manner in order to gain competitive advantage. The
external environment of a company can be analysed with PEST analysis. PEST analysis is an
important tool of analysing the external environment in a systematic manner for growth and
expansion of business. The Political factors are those factors which are related to rules and
regulations developed by government of a concerned country. This also helps in focusing on
corporate laws developed by the government (De Gregorio and Magaudda, 2017). The stability
of government in a country is also affecting business of many international and national
companies. Economic factors are macro factors like demand and supply rules, inflation and
deflation impact on business operations. Economic factors are considered as the major factors
that include monetary policy of the government which impacts on company's revenue and
turnover. Social factors also impacts on business operations in an effective manner. These factors
include social policy of the company to deal with social factors in order to deal with internal
culture development. In the recent times, information and technology impacts on business
operations in a precise manner. So the business should use advance software and computer
system to develop more accurate and quick operations. Business organisations can also use
customer relationship management to develop operations at marketplace.
In corporate world, the companies should focus on shifting traditional business operations
to technological operations for better stability and growth. This will also help the company to
deliver best practices to target customers (Donahoe and Keshavjee, 2018). The information and
communication technology helps a business to develop coordination between employees for
organisational growth. Marketing department of a business is also facilitated by the spread of
information and technology. In order to develop and perform specific operations related to
information and technology, a business should focus on hiring IT experts. The advertisement is
also published on social media websites that helps in systematic approach for the customers. The
company Tesco has developed a competitive strategy in order to deal with consequences and

challenges produced by COVID-19. Tesco is using work from home policy for the employees in
order to develop major opportunities. Tesco has also developed a business plan which includes
training and development of employees in order to face the change. It is also the major duty of
top level management of Tesco to focus on development planning to succeed at the marketplace
(Friedman, 2019). The business should adopt change management models and focus on their
implementation with proper supervision and control. It is the major task of management to
provide skill development training to employees in order to achieve systematic development.
Companies should also focus on analysing different approaches which are beneficial in bringing
change after COVID-19. It is also a key task of organisation to hire new talented employees for
management of different operations. Companies should also bring application of change
management models like Kotter's and McKinsey to adopt change in a short span of time.
It is essential to implement new initiatives by organisations in work place in order to
survive and thrive in new normal. Covid-19 has affected working culture of many businesses
across globe. Companies are looking forward to take new initiatives with motive to operate their
operational activities. It is recommended that organisations should focus on increasing use of
technologies for its operational activities (Hafberg, Borinstein and Alexopoulos, 2019) .
Companies should allot work form home tasks to its employees by providing them with basic
technological necessities. Organisations should also take essential safety measure like use of
sanitizers, masks etc. while working at work place. Companies should also focus in providing
vaccinations to its employees for development of safe business practices. Due to COVID 19
situation many company faces problems in order to survive or operate their business effectively.
It causes various issues for organisations like reduction in their production, decreases demand,
increase loss and so on which become main reason for many organisation in order shut down
their business (Heinola and Sörelius, 2021). In context of Tesco, COVID 19 situation create
various problems for their managers in order to manage their business in this situations.

By adopting and accepting various changes helps organisations in order to work
effectively in changing environment. It make organisation effectively in order to handle their
operating functions in changing situation (Morey, 2018) . In order to handle COVID-19, business
managers of Tesco is also accepting changes in order to handle any situation in effective manner.
This makes Tesco innovative and dynamic in order to achieve their goals in effective manner.An
organisation should also adopt digital technology in order to perform its functions in effective
manner in any difficult situation. In COVID 19 situation many company uses digital technology
in order to perform their various functions like buying and selling products, etc. in effective
manner. Managers of Tesco can also use digital technology in order to survive in pandemic
situation.
Leadership and leaders both play a crucial role in development of an organisation by
management of large number of employees. The leadership brings an effective approach to
develop with team and large group of employees in a precise manner for a company. It is
important for the company to choose democratic leadership style in order to formulate effective
decision-making in the company (Oppenheim, 2017). In leadership, delegation is also a major
function which can be performed by the company to develop decision-making by subordinate
employees. It is also a key role of a company to deploy appropriate leadership style in order to
survive in competitive market with major edge. The leader of the company should be well
dedicated and goal oriented in order to develop operations in a precise manner. Companies
should develop a perfect business strategy in order to lead the marketplace with leadership
related tasks. Tesco should also adopt a suitable management style which is helpful in
developing operations in a systematic manner. Companies should also include a precise approach
which is helpful in development of global standard leaders. Along with focusing on global
leaders, a company must also focus on selecting the right type of business planning which is
sustainable in nature (Roy, Douillet and Penaloza, 2021). The business should also address
solutions to problems of employees in order to acquire new talent in the form of employees.
Companies should also consider the achievement of short and long term objectives for
performing all operations in a systematic manner. This will create and develop reputation and
goodwill of the company in market and will also lead to create a major competitive edge.
Business organisations should also focus on developing parameters of development in order to
deploy professional leadership operations. In the current competitive scenario, companies focus

on rebuilding market planning in order to gain strategic growth at the marketplace. In order to
deal with COVID-19, leaders must understand and face consequences of leading virtual team.
The virtual team will take assistance and support of information and technology in different
operations and functions of the company (Shah and Domchek, 2020) . Business entity should
also focus on developing key areas like human resource, marketing and finance in order to deal
with desired consequences (Wu, Chang and Wurzel, 2019). All companies also develop planning
frame work using Porter's generic growth strategy to deal with COVID-19 pandemic.

CONCLUSION
The above discussion concludes the importance of strategic management in handling
different situations related to contemporary management. This project also concludes the role of
a business in order to analyse external environment related factors to develop precise
surroundings. Company should also bring new techniques and system to deal with COVID-19
pandemic in order to use information and technology. This project also concludes the role played
by a company in handling different employees related to different operations. In this project it
can be also concluded that leadership is an important business function to develop as decision-
making authority.

REFERENCES
Books and Journals
Connolly, E.S. and McKhann, G.M., 2017. Contemporary Management of Subdural
Hematomas. Neurosurgery Clinics, 28(2), p.ix.
De Gregorio, C. and Magaudda, L., 2017. Blunt thoracic trauma and cardiac injury in the athlete:
contemporary management. The Journal of sports medicine and physical fitness, 58(5),
pp.721-726.
Donahoe, L. and Keshavjee, S., 2018. Contemporary management of idiopathic laryngotracheal
stenosis. Thoracic surgery clinics, 28(2), pp.167-175.
Friedman, D.I., 2019. Contemporary management of the pseudotumor cerebri syndrome. Expert
review of neurotherapeutics, 19(9), pp.881-893.
Hafberg, E., Borinstein, S.C. and Alexopoulos, S.P., 2019. Contemporary management of
hepatoblastoma. Current opinion in organ transplantation, 24(2), pp.113-117.
Heinola, I. and Sörelius, K., 2021. Contemporary management of infective native aortic
aneurysms. Current Opinion in Cardiology, 36(6), pp.689-694.
Morey, A.F., 2018. Re: survey on the contemporary management of intraoperative urethral
injuries during penile prosthesis implantation. The Journal of urology, 200(3), pp.491-
491.
Oppenheim, L.H., 2017. Enduring values for contemporary issues: Integrating Buddhist and
Jewish morality into contemporary management models. Philosophy of
Management, 16(1), pp.55-68.
Roy, P.M., Douillet, D. and Penaloza, A., 2021. Contemporary management of acute pulmonary
embolism. Trends in cardiovascular medicine.
Shah, P.D. and Domchek, S.M., 2020. The contemporary landscape of genetic testing and breast
cancer: Emerging issues. The Breast Journal, 26(8), pp.1549-1555.
Wu, J., Chang, A.B. and Wurzel, D.F., 2019. Contemporary management of bronchiectasis in
children. Expert review of respiratory medicine, 13(10), pp.969-979.