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Solving Contemporary Management Issues TABLE OF CONTENTS INTRODUCTION

   

Added on  2020-06-04

9 Pages2843 Words338 Views
ContemporaryManagement Issues

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1Dynamic forces which influence business and society..........................................................1Evaluating relationship between such forces in terms of effective strategic decision making3Decision making tools to solve contemporary drivers of change...........................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONContemporary management issues are the problems and conflicts that arise inmanagement. Necessary tools and techniques are required to solve the issues and problems incompany. These issues are to be discussed in firms so that solutions can be found to deal withany issue such as functional or general (Agabegi and Fischgrund, 2010). By solving the conflicts,all employees can perform well and it results in smooth functioning of activities in management.Assignment discusses about Waitrose which is operated in the UK. It was found in the year1904. Firm is a retail company which provides different products. Report discusses about the keydynamic forces which affect business and society as well as evaluate the relationship betweenthese factors in terms of effective strategic decision making. Further, the drivers of socialchange; international dimensions; as well as social and cultural diversity are studied.TASK Dynamic forces which influence business and societyThere many dynamic factors which have positive or negative impact on business. Sobelow are different factors which affect the business of Waitrose:Technological – There are many innovative and technical advanced technologies in themarket. So, due to many recent trends in market, company has to adopt recent, advanced andtechnical technologies so that they can change in their activities and processes. Through this,company can also improve their transportation and logistics system. Thus, it reduces the cost oftransportation and results in increasing efficiency in movement of goods. Company can alsoimprove their manufacturing and production system as well as result in creation of high qualityof products. Thus, it increases the satisfaction level of customers. By the same, it can earn morerevenues and expand their business. Economic forces – There are many economic changes which can influence company andsociety. For example: deflation in the economy. Thus, prices of goods are reduced and firmcharges lower rates for all products. It gives a negative impact on business and positive influenceon society (Barbosa, Fernandes and David, 2012). Company sells products at lower price so, itcannot earn more revenues and do expand the market share. Thus, it results in declining theperformance of company. It gives a positive influence among all users as they get products atlesser cost. As a result, all people can save their money. 1

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