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Contemporary Management Issues Report (Doc)

   

Added on  2020-07-22

9 Pages2609 Words474 Views
Contemporary Management Issues1

Table of ContentsIntroduction......................................................................................................................................3Exhibit an understanding of the key dynamic forces impacting on business and society...............3Critically evaluate the relationship between such forces in terms of effective strategic decisionmaking.............................................................................................................................................4Prepare an evaluation of an organization’s responses to key dynamic forces in the contemporarybusiness world.................................................................................................................................5Select and use decision making tools to address contemporary drivers for change........................5Analyze the relevant theoretical foundations to support the identification and application ofeffect corporate responses to contemporary management issues....................................................6Conclusion.......................................................................................................................................7References........................................................................................................................................82

IntroductionAny company operates in an external environment which has a presence of many dynamic forcesthat put an impact on the overall business and society. These forces are in form of newtechnology and innovation; globalization; evolving governmental regulations; changingconsumer expectations among others (Lessem and Schieffer, 2016). They impact the businessoperations in positive and negative manner and must be handled by the management with a lot ofcare. The two main forces that have been discussed in present study are change in technology aswell as natural environment of the earth. These forces will be discussed under the headings as tohow they are impacting the business/society and what relation they have with effective strategicdecision making. Emphasis will also be given on evaluating how organizations respond to theseforces and using decision making tools to address contemporary drivers for change. Exhibit an understanding of the key dynamic forces impacting on business and society.According to the view point of authors Camisón and Villar-López (2014) technology is the newmilestone of present business processes. There has been a movement of companies fromtraditional to technological era which has led to bringing efficiency in the business process. Inaffirmation with the above view point, authors Botha, Kourie and Snyman (2014) states thattechnological advancements has thus arrived a long way from Nano technology to high speedcommunication. Even the government uses technological advances to manage privacy as well asintellectual property issue that protect the innovation of firms. It has further been said byNicholas and Steyn (2017) changes in technology have been so abrupt that the companies whoare able to embrace themselves with the change do not face difficulty in survival. But the oneswho are not able to do so face a lot of issues which puts a question mark on their long termsustainability. It can thus be critically evaluated that there is no way by which advancement intechnology can be stopped hence businesses as well as society should adapt them with thechange. Then comes the dynamic force of changing natural environment which has been exploited due toover usage of resources. As per the view point of Bell (2016) the planet earth has been growingold and is getting largely affected due to harmful business activities such as disposal ofpoisonous waste in the environment from factories and phenomenon such global warming which3

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