Social Aspect of Management Issues

Added on -2020-07-23

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USING SCENARIOPLANNING TO ADDRESSUNCERTAINITY
Table of ContentsAssessment 4..............................................................................................................................2PART 1.......................................................................................................................................2PART 2.......................................................................................................................................2REFERENCES.........................................................................................................................10
Assessment 4PART 1Scenario planning is the important activity that can be performed by the organizationin vital decision making process (Amer, Daim and Jetter, 2013). The question states aboutmajor issues that are being faced by the managers in second decade of 21st century. Thejournals used are quite effective and efficient enough to describe the argument of thestatement in rightful manner as all the important aspects are considered in it. The statementsof famous theorists such as Peter Drucker, Porter etc have been considered. Furtherappropriate comparison has been made between operational effectiveness with that ofscenario planning management. Social aspect of management issues has also been consideredwhich was mentioned by the famous author, Milton Friedman.The major issues with respect to second decade of 21st century require appropriateconsideration of different problems that can affect the decision making of the management.Further, it is also important to address varied tools and techniques that can be used by themanagers with the aim to reduce it impact which includes, BCG matrix, SWOT analysis etc.Porter has discussed these models in his book which have been used by the managers ofmodern era as well. Hence, the journals that have been used are effective enough to discuss all aspect ofthe management in second decade of 21stcentury.PART 2The essay aims at developing knowledge regarding major issues being faced by themanagers in second decade of 21st century. There are certain managerial issues that are facedby the managers which hinders in the success of the organization. The success and downfalltotally depends on the abilities of the managers and they handle the issues being faced by theorganization in daily life. Managerial role plays an important role in the success of the company. Betterimplementation of the strategies helps in dealing with the issues faced in day to day life. Themost critical situation is faced in the second decade of 21st century in order to determine the
effectiveness in the functions of the organization. Strategic leadership is an important aspectwhich is required to be implemented to win over the current market situation.Scenario planning is the situation where decisions are made by the managers based onthe current prevailing situation in the environment and market. It helps in simplifyingcomplex future situations (Schwenker and Wulf, 2013). The problems can be increasedcapital expenditure, entering into global alliance etc. Hence, appropriate steps are taken forthe most important factor that have the largest impact on the profits. It is important to followcertain steps to make this process an effective one. These steps are mentioned below:To view all the possible trends that has significant impact on the functioning of theorganization, such as, entering new market, strategic alliance etc.To identify key drivers of the changeChoose most important two driversDeveloping the outline of scenarioDetermining the implication of each scenario (Ramírez and Selin, 2014)Summarizing the overall strategiesStrategic leadership helps in providing vision for the organization. It is the potentialwithheld in the managers which helps in implementing workable strategy in the companywhich ultimately helps in achieving the entity’s objective. The main focus of strategicleadership is on productivity which plays a vital role in sustainability of the business andremains competitive in the market (Wade, 2012).It is the duty of a strategic leader to influence the workers and subordinates to move inthe similar directions and adopt organizational change taking place so that company’sobjectives can be achieved (Zainal, 2017). The responsibilities are well defined anddistributed in right manner so that they are aware that what duties are required to beperformed by them. It helps in encouraging their creative, skills and efficiency and skills aswell. Entering into 21st century made various leaders realise that they cannot drive theorganization by themselves. The decision cannot be taken by an individual or a group whichgave rise to the requirement of involvement of employees in decision making. The employeesof the organization can be divided based on the department and strategic leadership can be

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