Contemporary Management Issues in the 21st Century

This essay explores the role and impact of Artificial Intelligence on business strategy and management in organizations within a global environment. It evaluates the competitive strategy models and HR theory. It also discusses the importance of talent acquisition, change management, and learning & development in the current competitive global climate.

Contemporary
Management Issues in
the 21st Century

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Evaluate the role and impact of Artificial Intelligence on business strategy and management
of workforce in organisation within a global environment by using a competitive strategy
models and HR theory. ..........................................................................................................1
Discuss and evaluate the importance of talent acquisition, change management and learning &
development in the current competitive global climate. .......................................................3
CONCLUSION................................................................................................................................4
REFERENCES ...............................................................................................................................5

INTRODUCTION
Artificial Intelligence (AI) is wide range of branch in computer science that's main
concern is to build smart machines capable of performing work that typically required human
intelligence.(Zhang and Lu, 2021) In this essay there is a brief about the role and impact of AI on
business strategy and management in organisation by using the competitive strategy model and
HR theory.(Akerkar, 2019) At last a evaluation and a brief discussion about importance of talent
acquisition, learning development and change management in relation with current global
competitive climate.
MAIN BODY
Evaluate the role and impact of Artificial Intelligence on business strategy and management of
workforce in organisation within a global environment by using a competitive strategy
models and HR theory.
Competitive strategy models is a framework that helps to guide a organisation in
competitive advantages in market against competitors. (Liu, 2022)There are various models in
which organisation can use to identify there framework like Porter's Generic Competitive
Strategies
Porter's Generic Strategies is a general way to positioning a company within a industry
for competitive advantages, which includes cost leadership, differentiation, cost focus and
differentiation focus.
Cost Leadership: In cost leadership a company offers products that has low cost value in
broad market. The main of company become to produce in large scale with low cost with target
of large market for profits benefits. (Di Vaio and et. al., 2020)The impact of AI on business
strategy and management in organisation,helps in reducing cost of products by using AI
technology in there operation and to target broad market and to ensure success.
Differentiation: Differentiation refers to a competitive strategy in business to provide a
unique products or services in broad market, this strategy can reduce rivalry with competitors by
providing different products and services from there competitors. The role and impact of AI on
business strategy and management in organisation helps to create a unique products using AI
technology which then later target broad market with there different products to ensure success
and profits.
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Cost Focus: Cost focus refers to producing low cost products and services in selected
market. The main focus in here is to identify niche market with there needs and demands to
provide low cost products to them. The role and impact of AI on business strategies and
management in organisation, by using AI technology it will help organisation to identify target
market to provide low cost products to them. Which ensures success and plays important role.
Differentiation focus: Differentiation focus refers to provide unique products in niche
market. By identifying a target market and understanding there needs and demands organisation
will provide a unique products and services to them. (Di Vaio and et. al., 2020)By using AI
technology in company helps to identifying a niche market where enterprise can offers different
products than other competitors. It will ensures success and profits for company and plays
important role.
Human resource theories states a strategies, objectives and tactics used by an organisation
and manager to administrate policy and procedures in relation to employees. (Guan and Frenkel,
2018)There are various models in HR theory in one which is, Organisational life cycle theory.
Organisation Life Cycle Theory is refers to link between business with living organism
and propose a various sequence of development and growth stages. (D’Eusanio, Tragnone and
Petti, 2022)Management needs to understand all phase of life-cycle of organisation to make
priorities of each stage and make decisions accordingly.
The Start-up or Existence phase: In start-up phase the main focus of business is to
identify market and planning strategies to sell their products and services. It is a base for a
organisation to start there business in market. With the help of AI technology a business can
identify and provide a different concept to market. It will put positive and great impact for new
organisation start.
The Growth or Survival phase: With the help AI technology in organisation it make
easier to recruit new and right employee in workplace, as in this phase the company as starting to
grow. While in growing phase it is important to bring new talented employee in business for
more productivity.
The Maturity phase: AI technology will now help to bring new technologies and
software for business to develop and change according to the environment. While the company is
now at maturity phase now it is well establish in market, it become important to bring new
software and ways to operate.
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The Renewal or Decline phase: It is a last phase of the enterprise, as now company is at
top position and customers are demanding more of there products and service. But due to the
decline of business it put efforts on renewal of firm. With AI company will identify the renewal
of company and provides new ideas with new technologies to offers more in market.
Discuss and evaluate the importance of talent acquisition, change management and learning &
development in the current competitive global climate.
Talent Acquisition: Talent acquisition refers to a strategic approach for identifying,
acquiring and assessing new employees for company. It also refers to the process of employees
recruiting, interview of candidates for job, tracking and on-boarding and training of new
employees . It is a stand-alone software for large human capital management system that allows
to recruitment and hiring process automatic. In current competitive global climate it is important
for a business to use talent acquisitions, as it is difficult to find right person for the job in current
situation due to pandemic. (Pillai and Sivathanu, 2020)It helps finding and hiring the right people
automatic, which is beneficial for organisation plans and it will directly affect company's future
success. A talent acquisition is a strategy helps to target top talent for enterprise to build and
maintain position in competitive global climate. There are five key benefits of using talent
acquisition in organisation premises to focus on global climate such as, operational efficiency
companies were often enlist with local agencies to heir but with talent acquisition it will help in
global approach to reach new talent right for job and also reduce cost of recruiting while
improving communication about regional gaps and hiring needs. Better candidates journey and
employee experience, richer diversity and tangible business gains, provides local insight into
new market and solutions for business key skills.
Change Management: change management is a methods which allows a company to
implement changes within both internal and external processes. It includes preparing and
supporting employees to establish the require steps for changes to monitor pre and post activities
of change to ensure successful development. In changing global climate it is become important to
adapt managing change to improve fundamental skill for dealing future and present. (Maali and
et. al., 2020)In current global climate due to pandemic many things change and has major change
on organisations too, to resolve from situations company needs to adapt change management in
enterprise. It has many benefits for organisation such as, it provides higher profits with ability to
stand apart from other competitors also it helps company to anticipate upcoming future problems
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with necessary response of it and also helps increasing in productivity and profitability for
employees and organisation. Change management is a positive impact for organisation to adapt
according to global climate. As changes in climate happening it becomes important for
organisation to change there management accordingly for future benefits and stand a chance in
competitors world. So for organisation to stay active in current competitive global climate it is
important to use change management.
Learning & Development: Learning and Development is a process for empowering
employee with specific skills to drive better performance in organisation. It refers to to training
and development by identifying skill gaps among employee and teams in enterprise to deliver
training to bridge those gaps. There are five steps of process in L&D, talent gap analysis, L&D
strategy formulation, procurement, execution and measurement with review. By following these
five steps it will be easier for organisation to develop learning and development in premises.
(Oyston, 2018) In current global climate changes it is important for companies to develop a
learning & development in employees, as due to recent pandemic cause if effect employees skills
and training. While recruiting new employees in firm it is important to bridge all gaps of persons
and train them accordingly. It is also important learn and develop as required in situation to
increase individual growth and also growth of company, this way it will be ensure to stand in
competitive global climate.
CONCLUSION
From the above essay it is concluded that Artificial Intelligence is important for a
business strategy and workforce of organisation. From porter's generic model it is proved that for
development of a company it is necessary to use a AI technology to improve productivity of a
employee and organisation. With organisational strategic model of HR theory it concluded that
to increase the internal factors of enterprise from starting phase to l;at phase a AI technology
plays important role to develop according to climate change. At last talent acquisition is
important for a company to recruit right person for the job and makes a hiring process easier and
reduce cost of it.
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REFERENCES
Books and Journals
Akerkar, R., 2019. Artificial intelligence for business. Springer.
D’Eusanio, M., Tragnone, B.M. and Petti, L., 2022. Social Organisational Life Cycle
Assessment and Social Life Cycle Assessment: different twins? Correlations from a
case study. The International Journal of Life Cycle Assessment, pp.1-15.
Di Vaio, A. and et. al., 2020. Artificial intelligence and business models in the sustainable
development goals perspective: A systematic literature review. Journal of Business
Research, 121, pp.283-314.
Guan, X. and Frenkel, S., 2018. How HR practice, work engagement and job crafting influence
employee performance. Chinese Management Studies.
Liu, Y., 2022. A Review of the Basic Theory of the Great Michael Porter’s Positioning School.
In Proceedings of the 5th International Conference on Economic Management and
Green Development (pp. 265-271). Springer, Singapore.
Maali, O. and et. al., 2020. Change management practices for adopting new technologies in the
design and construction industry. Journal of Information Technology in
Construction, 25, pp.325-341.
Oyston, E. ed., 2018. Centred on learning: academic case studies on learning centre
development. Routledge.
Pillai, R. and Sivathanu, B., 2020. Adoption of artificial intelligence (AI) for talent acquisition in
IT/ITeS organizations. Benchmarking: An International Journal.
Zhang, C. and Lu, Y., 2021. Study on artificial intelligence: The state of the art and future
prospects. Journal of Industrial Information Integration, 23, p.100224.
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