Contemporary Management Issues: AI in Business Strategy & Workforce

This report analyzes the impact of artificial intelligence (AI) on business strategy and workforce management, addressing contemporary management issues such as talent acquisition, learning and development, and change management. It highlights the role of AI in enhancing organizational efficiency, improving employee engagement, and adapting to the evolving demands of the global competitive landscape. The report explores the Human Capital theory and the Human Resource Value Chain, emphasizing the importance of aligning organizational goals with employee skills and leveraging technology to manage remote work and digital transformations effectively. Ultimately, the report concludes that AI is crucial for corporate development, requiring a shift in management perspectives towards innovation and continuous improvement through training and development initiatives.

Contemporary
Management Issues in
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Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Role and Impacts of AI on overall business strategy and management of workforce...........1
Importance of talent Acquisition, learning and development, and change management.......3
CONCLUSION................................................................................................................................4
References:.......................................................................................................................................5

INTRODUCTION
Artificial intelligence is when computers and powerful computer systems mimic human
intelligence. it outperforms human intellect by allowing machines to act and think like humans. It
is smart technology that assists in making work and chores easier by designing according to
various tasks. Synchronous governance challenges refer to difficulties such as employment,
safety, work culture, employee engagement, job tension, and employee turnover that arise with
managing human resources within an organization. Employee expectations, professional
progression opportunities, succession planning, change management, work-life balance, and
communication activities are the key difficulties that organization confront today. The changing
role and effects of technology, as well as the use of it. The report will explain the description of
uses this in various company along with its effects on company strategy within an industry. In
instance to this, crucial of endowment acquiring as well as modification management in current
global rivalry is evaluated in the task. The following report will be describing very explanation
and models for analyze the effect and role of arranged intelligence on direction of human
resource along with that the operational act of the system. It will also discuss the value of talent
acquiring learning and improvement and change administration within the structure for rising the
general business to contend in the industry.
MAIN BODY
Role and Impacts of AI on overall business strategy and management of workforce
Human Capital theory plays a very vital function in the teaching, cognition, maturation
and improvement, ability and fruitfulness of people management can be evaluated and raised
within an institution . many of the concern in present world are facing the objection and
problems connected to the intense growth of engineering, dynamic skill needs, preparation and
evolution, and raising contention, and many more. It is because to the particular needs of ability ,
qualities , education and leanings needed by the company for reaching out various purpose or
activity within the company . because of the aggravating modification in engineering and
constant needed like covid-19 pandemic, the company have to implement the current application
for staying competition in the marketplace. Unreal intelligence show a very crucial role in
copulative people with each another.
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Another key framework that firms use to understand the impact on their human resources
is the Human Resource Value Chain. In terms of the Human Resource Department, it is critical
to the development of best practices. The Guest Model is one of the most often used models for
assessing human resource development efforts within an organization by focusing on individuals
rather than groups. There are numerous human resource management strategies that have helped
firms acquire their motivations by exploding employee engagement in order to meet the
organization's goals and objectives on time. Organizations all throughout the world have
implemented work from the covid-19 epidemic. it has helped the coordinate to assume talent,
manage work flows, gives grooming and improvement, and many more . The status of the
epidemic has exchanged the ways in which the people management really direct and it has
impacted the organizational processes by utilize work from location. In regards to manage the
operations more impact fully and efficiently the co-ordinate have used unreal ability and digital
request for pull off their transaction and human resources with activity from home .
Many elements influence organizational development, including the organization's
research and development operations. Internal and external component also influence an
organization's improvement activities in different divisions or trading operations. Changes in
structure culture, employee engagement, changing technology, opinion situations, economical
circumstance, legal factors, societal trends, and ecological scale, among other things, all have an
impact on organizational development activities, which can be effectively managed with
artificial intelligence. Organizational development theory, general system theory, and strategic
contingency theory are also useful for spotting changes inside a company and then taking efforts
to positively address those changes. Artificial intelligence combined with human efforts can
provide better prospects for decreasing complexities and easing people's frustrations.
Importance of talent Acquisition, learning and development, and change management
Talent acquisition is the process of employing, identifying, and obtaining human resources in
accordance with an organization's needs in order to meet goals within a given time frame. It is in
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charge of establishing the company's brand and overseeing the candidate cycle from start to
finish. One of the advantages of talent acquisition and development is that it aids in improving
company efficiency, as the organization's goals are directly dependent on company operations,
and talent acquisition aids in improving company efficiency.
The organization needs to invest a lot of money in hiring and communicating with prospects
because it lowers the cost of recruiting. It aids in the development of workplace morale and has
led to increased staff retention. It provides intellectual candidates to organize in order to aid in
the reduction of global competitive risk. Talent acquisition aids in aligning the organization's
goals with candidates who aid in improving operational tasks. The organization needs a lot of
time to find and identify applicants so that they can be selected in a timely manner.
Learning and development is a process in which an organization is accountable for
empowering and growing its personnel. Knowledge and abilities Learning and development
provide skills and practices that make it easier to accomplish the job. In a rapidly changing
market, businesses must ensure that their employees have up-to-date skills, and learning and
development can assist them in doing so. The administration is having problems retaining
personnel in order to improve morale and lower the likelihood of departure through learning and
development. The majority of companies hire new employees, which has an impact on the
organization's efficiency because it helps to improve the skills of untrained staff.. The
organization's growth immediately count on abstain satisfaction as it aids in handling with day
to day users 's content so that client do not delay for their work. This better the motivate among
worker so that they are convergent on company goal. The organization brand repute depend on
worker performance as acquisition and evolution more direction on heighten the execution of
worker.
The global environment has a significant impact on management, and this influence has a
positive impact on employee morale and performance. Because technology makes work easier
and increases organizational performance, the corporation must select new technology tools and
processes in management to assist it tackle international competition. Following the global
pandemic. Multinational corporations have altered management practices, relying heavily on
artificial intelligence and digital tools to boost corporate efficiency and production. International
firms discover new ways to conduct activities better than their competitors, increasing their
competitive advantages. Managers at the top aim to predict future advantages and find better
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methods to accomplish things. Companies give training on a global scale. The worldwide level
of institution provide preparation session and assets to their worker as it help in ascent the
cognition and alteration the administration activities. In competition market, The consumer's
taste and wish change regularly so that topmost level director change the concern activities on
the basis to the needs . The business management concentration on giving the goods and service
to their users in advanced structure as they change the concern plan of action.
CONCLUSION
According to the report, artificial intelligence is extremely important for corporate development
and growth. In the current competitive environment, it has been decided that management's
perspective should be adjusted, as top-level management is always focused on innovation. The
corporation should put greater emphasis on training and development due to it improves the
organization's overall efficiency. The aforesaid analysis concludes that contemporary
management issues in the twenty-first century have evolved as a consequence of the quick
change of technical breakthroughs around the world. Furthermore, human resource development
has used many models and theories to reduce human resource capital within an organization
using artificial intelligence for effective and efficient workforce management.
References:
Books and Journals
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intelligence implementation in the health care sector. In The International Conference
on Artificial Intelligence and Computer Vision (pp. 37-49). Springer, Cham.
Araujo, T.,and et., al, 2020. In AI we trust? Perceptions about automated decision-making by
artificial intelligence. AI & SOCIETY, 35(3), pp.611-623.
Fleming, N., 2018. How artificial intelligence is changing drug discovery. Nature, 557(7706),
pp.S55-S55.
Guha, A., and et., al, 2021. How artificial intelligence will affect the future of retailing. Journal
of Retailing, 97(1), pp.28-41.
Haleem, A., Javaid, M. and Khan, I.H., 2019. Current status and applications of artificial
intelligence (AI) in medical field: An overview. Current Medicine Research and
Practice, 9(6), pp.231-237.
Khisamova, Z.I., Begishev, I.R. and Gaifutdinov, R.R., 2019. On methods to legal regulation of
artificial intelligence in the world. International Journal of Innovative Technology and
Exploring Engineering, 9(1), pp.5159-5162.
Liang, H., and et., al, 2019. Evaluation and accurate diagnoses of pediatric diseases using
artificial intelligence. Nature medicine, 25(3), pp.433-438.
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Tkachenko, V., Kuzior, A. and Kwilinski, A., 2019. Introduction of artificial intelligence tools
into the training methods of entrepreneurship activities. Journal of Entrepreneurship
Education, 22(6), pp.1-10.
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