Analysis of Contemporary Issues for Management: A Report

This report addresses contemporary issues in management, focusing on how managers and stakeholders make decisions. It examines the importance of corporate social responsibility (CSR), ethical considerations, and adherence to laws. The report highlights the impact of labor market dynamics, including layoffs and unemployment, and emphasizes the need for organizations to manage costs, foster customer loyalty, and engage with government entities. It discusses the benefits to the community through charitable contributions and environmental practices like recycling. The report also explores contemporary management theories, including behavior and system theories, to provide a comprehensive understanding of modern management challenges and strategies. The report also focuses on economic issues like inflation, monopoly, poverty/inequality, recession, and exchange rate volatility that affects businesses.

Contemporary Issues for Management
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Contemporary Issues for Management
Managers and stakeholders are relied upon to make good decision concerning a company
or an organization. The issues aim on identifying the emerging issues resulting from past,
current and the future of an organization. The management team involves all the stakeholders to
help in planning, organizing and leading whereby this will help achieve organization goals.
Managers and the stakeholders have a responsibility of ensuring that organization properties are
well utilized. CSR protect the environment and contribute to social activities.
For any organization to achieve their intended goals ethics are very important both moral
and standard to guide the behavior of managers and stakeholders. Corporate social
responsibility ensures that the managers are responsible and integrity is upheld. When any
organization comes up, it has to ensure that their code of ethic and policies and corporate
social responsibility are applied. According to Oppenheim1, the organization ensures that
their customers’ needs are satisfied and are respected, ensures that there is harmony among
the clients, stakeholders and the management team. The organization is expected to abide to
both local and international laws. CSR adopts human employee practices, caring for
environment and ensures participation in philanthropic endeavors.
An organization can practice social entrepreneurship to benefit the society both
environmental and innovative. Ethical investment is concerned with how the profit is made and
how much the profit is made by an organization.
According to Trong2, there are issues experienced when dealing with social and ethical
behavior in an organization especially when an organization is forced to balance its
responsibility among the shareholders. Organization faces issues especially when the
government shrinks its presences giving a blind eye to the organization when dealing with
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national ethics. Labor markets is a major issue experienced by an organization especially when
the organization lay off a large number of employees to cut off cost and this end up causing
unemployment in local areas.
For an organization to be able to manage all this challenges it has to lower operation cost
to maintain the employees, increase the loyalty from the customers to be able retain more
employees. It engages the government by improving financial performance hence improving the
economy of the country. The community also benefit through charitable contribution, volunteer
program and safety and quality product. The benefit to the environment includes recycling,
manufacture of durable products and renewable products.
Behavior theory is one of the contemporary theories claiming that there is no perfect way
of managing an organization but the management of the organization greatly depends on the
internal and external situation. System theory is an interdependent that combines input,
transformation, output and feedback to effectively manage an organization.
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References
(1) Oppenheim, L. Enduring Values For Contemporary Issues: Integrating Buddhist And Jewish
Morality Into Contemporary Management Models. Philosophy of Management 2016, 16, 55-
68.
(2) Trong Tuan, L. Corporate Social Responsibility, Ethics, And Corporate Governance. Social
Responsibility Journal 2012, 8, 547-560.
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