Contemporary Management Issues Report
9 Pages2659 Words230 Views
Added on 2019-12-28
Contemporary Management Issues Report
Added on 2019-12-28
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CONTEMPORARY MANAGEMENT ISSUES
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3Key Dynamic Forces Impacting Business and the Society.........................................................3Identification and Application of Corporate Responses to Contemporary Management Issues.4Critical evaluation of Organization's Responses With Key Dynamic Forces ............................5Decision-Making Tools to address Contemporary Drivers.........................................................6Sources of Information and Opinion Relating to Global Issues..................................................7Recommendations when Faced with Conflicting Information Data...........................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONAs world has taken a rapid pace towards the globalization and innovation techniques andthus businesses have been engaged in managing these kind of activities more rather than makinga move with the traditional concepts. By applying these kind of practices they have able todeliver best in the quality services to customers which has made them attain a competitive edgeover their competitors(Wry, Cobb and Aldrich, 2013). The present report deals with suchmanagement issues which impacted the organizations business in either a positive or a negativeway.Key Dynamic Forces Impacting Business and the SocietyThere are different forces and elements which have been established which can make thebusiness function effectively and smoothly. As time has changed thus the new innovation andtechnological advancements have been come up with making the process of business easier andconvenient. Certain elements are:Commodization: In this practice the competitors use the tactics of reducing the prices in orderto get benefit more than the competitors. It continues to be the formidable force which hasimpacted the businesses in many ways, for some it is positive and for others it is negativeoutcome. It is an issue for the business because through commodization a firm has to reduce itsproducts prices. Digital Revolution: Digital marketing practices have taken a boom in this current era. Everyfirm is going for digital marketing to introduce and make people aware about their product andservices. Through digital marketing practices various startups have managed to create a goodcustomer base for them and are working in order to get high engagement from every class ofpeople(Morris and et.al, 2013). Long back when computers have been established no one hasever thought of this change and every activity has been performed here now a days.Social Mediaiztion Through Society: As world has taken steps towards the digitalization andmaking moves in order to make their business grow with implementing the practices through thesocial media channels. Now a days social media is the key in maintaining the businessoperations. It has been found out that 90% of world's population is on social media. Thus themarket is huge and business will never want to miss the opportunity like this.
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