Contemporary Management Issues: Causation and Effectuation in Business Management

Contemporary
Management Issues

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The term contemporary management can be defined as the process of controlling varied form of
resources along with bringing innovation within the process of organisation so as to accomplish
pre-set objectives and goals in a time frame period (Grégoire and Cherchem, 2020). Adding to
this, there are various challenges faced by companies while operating business whether it is a
small, medium or large firm. There are various contemporary issues faced by organisation which
relates to organisational behaviour. The concept of causation and effectuation facilitates
entrepreneurs in emphasising predefined goals as well as target for materialising into objectives
which are not pre-defined. The core aim of this project essay is to briefly discuss about causation
and effectuation along with explanation of varied artefacts that requires for venture creation.
This project essay will emphasise on the concept of causation and effectuation as well as
critical discussion of statement in order to gain insight of varied issues in business management
in international business environment.
TASK
In today’s business world, there are various challenges and barriers that limits success of
business. It is important for organisation to formulate effective management strategies so that
competitive advantage can be taken. In addition to that, newly establish venture has to face
different challenges such as low employee morale, poor employee engagement and level of
motivation. All these factor collectively influence on the operations of company. Start-ups are
based on various uncertainties and have to deal with influencing forces which may directly or
indirectly affect functioning of company. The concept of effectuation and causation consist of
main interest within venture creation as it facilitates in providing insights of decision making.
Causation can be termed as the action of causing which leads to an effect at which
effectuation is totally opposite of previously mentioned. There are various businesses that targets
to share ideas along with allocating key resources in an effective and efficient manner. Causation
is an approach which contributes in emphasising on pre-defined goals as well as opt and
implement all steps which helps in fulfilment of objectives. It is important to follow steps in a
sequential and well-structured manner so that it becomes easier for company to attain goals.
While on the other hand, effectuation encompasses with goal oriented, competitive analysis and
many more which positively contributes in fulfilment of objectives. The term causation consists