Contemporary Management Issues in the 21st Century

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