Contemporary Management Issues in the 21st Century

This report discusses the impact of artificial intelligence on business management, talent acquisition, development, and change management. It covers Porter's generic competitive strategies, HR theory, and the benefits of learning and development. The report also critically evaluates the impact of AI on business management across the globe.

Contemporary Management Issues in
the 21st Century

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Critically evaluate the impact of artificial intelligence on business management in across the
global............................................................................................................................................4
The benefit of talent acquisition, development and learning.......................................................5
Change management in the present competitive environment ...................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Artificial intelligence refers to transfer the human intelligence to machines as it a
programs that thinks like human brains. The artificial intelligence design according to the
requirements and it is mainly used in different industries such as finance, Health care and human
resources. The report will cover the discussion about competitive strategy model as well as HR
theory in addition to this, The impact of artificial intelligence on different industries along with
benefits of talent acquisition .
MAIN BODY
Porter's generic competitive strategies determines the company's profitability is below or
above the business average. (Parikh, Teeple and Navathe, 2019)This strategies is a framework
tool that determines direction to company's business through planing so that company move
ahead and take advantage in marketplace.
Cost leadership: In this strategy, The company try to set low cost while manufacturing
the useful product as it rely on structure of the company. The cost leadership includes access to
raw material, technology full exploits all scarce sources and economics of standard. The
artificial intelligence is important to reduce the cost of material and improve the quality of
product as artificial intelligence provide automatic labour-intensive process.
Differentiation: In this strategy, The company try to produce the unique products that
widely important for buyer. The artificial intelligence provide relevant information that generate
by expert human so that these make organisation innovative.
Focus: In this market, The organisation focus on fresh market and measuring the
dynamic market in which consumer's unique need so that it build the strongest brand loyalty in
their consumers. The artificial intelligence is crucial for understanding the consumer's need and
improve the consumer's experience. The artificial intelligence help to organisation to target the
selective consumers so that it increase the organisation's revenue.
Human resource theory refers to strategies, objectives and tactics etc, that is used by
company's manger. Human resource explain the structure and management practice that can
influence the behaviour of employees. (Zeba and et. al., 2021) The artificial intelligence in
Human resource help to customize the employee's need and associate job roles. AI is important
for organisation to verify the legal documents and keep safe the precious documents for lifelong.
The role of human resource to communicate with employees and try to feel safe and give them

scope for intelligence, creativity and empathy to superior tasks. The artificial intelligence is
growing and advanced technology that enhance the entire HR department as it main centred on
strategic scope of tasks. (Munoko, Brown-Liburd and Vasarhelyi, 2020) The AI has power to
revolutionize the experience of employees in different ways and quickly processing the
numerous amount of data. The artificial intelligence use for determine decision-making in real
time as well as logical computing approaches. The growth of company directly depend on
healthy HR management so that artificial intelligence tool help to artefact human conversation to
candidates and it provide HR chat box that support to the relationship among staffs. The
success of organisation require training and development program for employees or staffs so
that AI help to provide effective training and learning session to their employees.
Critically evaluate the impact of artificial intelligence on business management in across the
global
Artificial intelligence has a great impact on organisational management and play a crucial
role for company's growth in whole world. It modify the path of strategic theory and business
management and it help the company to take advantage in competitive marketplace. Artificial
intelligence involves natural language processing, machine learning, deep learning and robotic
leaning that change the ways of management in entire world. The AI is mainly used for decision
making as it provide vital tool such as different research-information data to manager. The most
of the countries embrace the AI opportunity in current business as it enhance the skills of
managers and help to full utilisation of resource. For example, TESCO is using Tesco app that
help to scanning the QR code, using weight sensors as it help to track the costumer's
movements. With the help of artificial intelligence, the TESCO use multi-channel tool get the
forthcoming trends in costumers and the TESCO became the first to launch a online platform
that help to consumers to buy and browse product at online shop. (Dhar, 2020) The AI is an
important tool as It help to analysis the big data such as buying behaviours, numbers of article
purchase and the most demanding articles etc. that data help determine that planning strategy in
management. The artificial intelligence help to reduce the company's cost as it design to use
robotic application that reduce the demand of workers.

The benefit of talent acquisition, development and learning
Talent acquisition is a process in which company use for recruiting. Interviewing,
tracking. On-boarding and training the fresher candidates etc. (Albert , 2019) there are numerous
advantage of talent acquisition.
 The talent acquisition focus on searching the professional candidates for specific job
and understand the behaviours of candidate so that they can easily adjust in company's
culture.
 The effective talent acquisition support the organisation to hire the talented individual
in company so that company move in productive direction to move ahead from its
competitors.
 With the help of talent acquisition, The company save the time and money as it main
aim to identify the right candidate to perform the particular task. The company invest
lots of amount and time on CV screening, candidates assessment and analysis the
different data.
 The talent acquisition is an important aspects for organisation to estimate the hiring
need as HR communicate with manager to maintain the effective workforces in the
organisation.
 The talent acquisition help to employees to satisfy with the job or tasks work as it
motivate employees to improve the retention rate and eliminate.
The benefits of learning and development
The development and development is used for explaining about the business and inspire
the professional development between employees. The learning and development involves online
learning, development programs and development activities etc. (Charlwood, 2021) there are
multiple advantage of learning and development that will discuss below.
 The organisation face difficulty in low retention rate but strong retaining employees
can be accomplished the organisation's goal with the help of learning and development
programs
 Learning and development develops the future leaders as it improve the output of
employees and update the employees with advanced technology that can be useful in
workplace.

 The leaders endow the employees to make decision through learning and development
session as it improve the confidence level, value and gaining trust in employees.
 The learning and development help to organisation to improve the employees
engagement and reduce the boredom in the company. The regular learning enhance
perform level that help to engage the employees in office activities.
 The regular training session help to individuals turn into team and make true bond
with each other. (Gethe, 2022) The organisation hire different mindset employees and
convert into strong team with the help of training session.
 The healthy organisation require good communicate with employees, learning and
development reinforce the senior and subordinate to communicate with other as it help
to eliminate the misinterpretation among employees.
 The learning and development establish the scope for inner promotion in company as
nadir executive level employees can acquire managerial level skill so that company
promote the employees internally.
Change management in the present competitive environment
Change management is refers to a systemic approach, tool, application of information
and resource to cope with a modification in the company. The successful organisation require
changes in competitive marketplace as it help to aim at people's side and them accept, The
managerial modification have changed drastically over past years as many organisation introduce
a new software and applications and advanced technology in their work area. In present world,
the organisation use flexible strategies that help in collaboration and mobility between
employees so that it enhance the retaining employees and productive. (Wilfred, 2018)The
managerial modification have improved processes, procedures and strategies that help to
mitigate the poor business. During global pandemic, many organisation face difficulty in run a
businesses in unexpected scenario but Change management help to expand the organisational
business in difficult situation. For example, The TESCO has launched a click and collect service
in online to adapt and meet to fresh change. This new change help to consumers to find the
product and service as it make easy and convenient for consumers. The organisation has started
using digital marketing that help to focus the consumer globally and targeted audience that help
to reduce the cost on intense marketing such as TV, radio and newspaper.

CONCLUSION
From the above discussion, it has been concluded that artificial intelligence is one
important aspect that allow a company to expand its customer base level and fight with the
competitive business environment. In addition to this, it is determined that it is vital for an
organisation to focus talent acquisition so that the overall performance is maintained at
marketplace. Moreover, it is analysed that it is important to focus on change management and
develop strategies so that it can easily cope up with the changing business environment.

REFERENCES
Books and journals
Albert, E.T., 2019. AI in talent acquisition: a review of AI-applications used in recruitment and
selection. Strategic HR Review.
Charlwood, A., 2021. Artificial intelligence and talent management. Digitalised talent
management, pp.122-136.
Dhar, P., 2020. The carbon impact of artificial intelligence. Nature Machine Intelligence, 2(8),
pp.423-425.
Gethe, R.K., 2022. Extrapolation of talent acquisition in AI aided professional
environment. International Journal of Business Innovation and Research, 27(4),
pp.462-479.
Munoko, I., Brown-Liburd, H.L. and Vasarhelyi, M., 2020. The ethical implications of using
artificial intelligence in auditing. Journal of Business Ethics, 167(2), pp.209-234.
Parikh, R.B., Teeple, S. and Navathe, A.S., 2019. Addressing bias in artificial intelligence in
health care. Jama, 322(24), pp.2377-2378.
Wilfred, D., 2018. AI in recruitment. NHRD Network Journal, 11(2), pp.15-18.
Zeba, G. and et. al., 2021. Technology mining: Artificial intelligence in
manufacturing. Technological Forecasting and Social Change, 171, p.120971.
1