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Contemporary strategic issues

   

Added on  2020-01-07

8 Pages2460 Words154 Views
CONTEMPORARY STRATEGIC ISSUESSTUDENT NAME:STUDENT ID:UNIVERSITY:1

Table of contentsIntroduction......................................................................................................................................3Comprehensive understanding of the prevalent issues influencing management and managerialrole...................................................................................................................................................3Intellectual ability gained through multimedia and literature resource...........................................4Utilisation of business, social and ethical theories in a company....................................................5Chief leadership traits and business management aspects...............................................................6Conclusion.......................................................................................................................................7References:......................................................................................................................................82

IntroductionThe system of management and the way it works is always changing and evolving to adjust itselfwith the ever-changing trend of the present business world. Many issues are present whichinfluences an organisation to take major decisions accordingly. The presented essay is thus anelaborate discussion regarding the existing strategic issues which are adapted by variousorganisations in order to improve and develop the way it is system works. In this essay, variousimportant social, ethical and business theories are discussed and explored in order to understandbetter how these theories can be applied practically within the realm of an organisation in orderto develop its existing system of operation. Ideas from various multimedia and literatureresources are also taken and explored to get an overall understanding of the utility of those ideaswithin the context of an organisation. Key leadership traits and management features and howthey are important to better an organisation are also explained. The significance of a manager'sresponsibility regarding the identification of the issues is also discussed in the essay.Comprehensive understanding of the prevalent issues influencingmanagement and managerial roleIn the world of 21st century, various issues have emerged which influences and affects thefunctioning system of management. With the advent of globalisation, the barriers amongdifferent nations are gradually melting, paving way for a greater path of interconnection. Aidedby improved and advanced technology, the new trend of globalisation has made a great impacton worldwide business. The supremacy of the Western countries does not exist any longer as thedeveloping nations are now entering in the field of global business making their presence felt.As a result, the management of established organisations is trying to find innovative ways tomaintain their superior position. One of the chief factors which are responsible for bringing inthe wind of change is technology (Baylis and Gray, 2015, p.78).The way technology haschanged and impacted the existing management system of the organisations is noteworthy. Mostof the business in today's world is done with the help of wired market. From arrangingpromotional events, marketing to attracting customers, fulfilling customer demands to answertheir complaints, feedbacks everything can be done via social media, websites and email. Theadvanced technology has also enabled organisations to carry out their functions effectively. Inthe competitive world, sustainability has gained an important factor forcing the management3

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