A Deep Dive into Contemporary Management Issues in the 21st Century

This essay delves into contemporary management issues prevalent in the 21st-century global business environment, focusing on the concepts of causation and effectuation as approaches to addressing these challenges. It critically examines the relevance of these concepts in understanding the dynamics of business management, particularly in the context of globalization. The essay identifies key management issues such as cultural differences, language barriers, and the management of global teams, while also exploring contemporary concerns in human resources, finance, marketing, and operations. It emphasizes the importance of resolving these issues to maintain business consistency and achieve organizational goals, highlighting how the causation and effectuation processes can aid entrepreneurs in analyzing and addressing these challenges effectively. Ultimately, the essay advocates for strategic adaptations and improvements in organizational structures to foster growth and development in the global business landscape.

Contemporary Management
Issues in the 21st Century
Essay

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Contemporary issues are the events, opinions, topic or ideas which are relevant in present
days. In economics and management, scholars have traditionally assumed the existence of
artefacts such as firms, organizations and markets (Mirror, 2019). Venture creation is the process
of turning an idea into business which can be successful as well as attract investors. The
entrepreneurs or potential entrepreneurs try to identify the business ideas and technologies so
that they can turn that idea. They pay attention to the media which relates to that venture
creation.
MAIN BODY
Concept of causation and effectuation and critically discussing this statement and relevance
to understanding the dynamic of business management issues in the contemporary global
business environment
Causation and effectuation is an approach. In this caution implies that the entrepreneurs
should focus on the goal which is predefined and only then aim to identify the methods to attain
those goals. The effectuation approach on the other hand implies that entrepreneurs must focus
on the means which at in hand the time and then aim to materialize those into goals which were
not predefined necessarily (Yu and et.al., 2018).
As in the management and economic theories, the existence of artefacts have been
assumed. But it is argued that the description of those artefacts needs the notion of effectuation.
It means here the ideas of using the materials in had is considered more important than the ways
to attain some predefined goals. The causation as they believe us a logic for prediction and the
effectuation on the other hand is a logic for control. The effectuation is demonstrated through
various business examples as well as through some realistic experiments. They are connected
with the existing theories and to empirical experienced have been examined.
Process of Causation and effectuation
The causation processes takes the particular effect as a focus for selecting the means to
create an effect. But the effectuation process takes various means as focusing on selection of
possible effects which can be created through the means identified. Causation and effectuation

are the integral parts for human reasoning which can occur simultaneously through overlapping
as well as intertwining over various contexts of actions and decisions as well (Galkina and et.al.,
2021).
It should be taken into consideration that effectuation process are not assumed as better or
more effective from the causation processes for creating artefacts such as firms and markets.
Rather, it is to be decided under circumstances of what types of processes gives the particular
disadvantage and advantage for an issue which is to be resolved by future empirical studies
(Arvidsson and et.al., 2020). A decision which involves effectuation involves various provided
set of means which are usually the relatively unalterable features or circumstances of a decision
market. It also involves the set of effects of the generalized aspirations which are mostly through
the decision-making processes.
Business management is defined as the managing and coordinating the business
activities within organization (Qi, 2020). Understanding business management is very important
which helps in knowing that how effectively the rules and regulations are being implied on the
employees and this is how the progress and performance of the employees within organizations
and business are being evaluated.
Apart from this, there are business management issues which are described in the
contemporary global business environment. While regularizing the business, there are some
major aspects as to how effectively and in appropriate manner the management issues are being
drawn upon. Some major management issues which are mentioned as — cultural differences,
language barriers, foreign polices and politics, international accounting, managing global teams,
company structure etc (Tallman and et.al., 2018). These are some major global business
environment issues which are mentioned and are considered as important to be solved at large
scale.
Along with this, there are some major contemporary major issues which are mentioned as
— issues in the management of human resources, finances and marketing issues, operations and
production issues of the organization at large scale. These issues affect the global business
environment with diverse factors (Schoemaker and et.al., 2018). Organization along with
business entities are facing major issues and challenges which is affecting the growth and
development of the organization. Business management issues impacts the progress and factors
of growth at large scale. The performance of employees is also affected due to the challenging

factors which the business is facing in the global business environment. It is very important to
resolve the issues and challenges which the businesses and organizations are facing. The
causation and effectuation process helps in understanding the issues and challenges which the
business is facing at large scale. This also helps the entrepreneurs in knowing that how
effectively and in appropriate manner the issues and challenges are being addressed. The
entrepreneurs are able to analyse what changes the required for removing the issues which the
global business is facing.
In the global business environment, there are positive and negative impacts which affects
the business and the employees within organization. The global business environment helps in
knowing how the causation and effectuation processes are taken into consideration at large scale.
Entrepreneurs are forming the basis through which global business environment is taken care of
and how effectively the employees are working within organization (Morozova and et.al., 2019).
Apart from the growth and development aspects, there are negative aspects which are affecting
the business at global scale. This creates difficulties and problems for the entrepreneurs to take
concern of the work and performance of the employees. The main aim of the entrepreneurs is to
analyse the operations and production so that they work smoothly in the organization. This helps
in creating value for work and how effectively the employees are handled globally. There are
various business and global strategies which helps in indicating that there is need for
improvement in the working and organizational structures to be reframed so that the employees
are aware of the positive outcomes which helps in creating value for work (Telukdarie and et.al.,
2018). The value of global business environment helps in denoting the aspects of how effectively
and in appropriate manner the business is being implemented. There are major changes and
modifications which should be undertaken In ensuring that the global business environment is
taken into concern for growth and development at large scale.
It is very important that the business management issues are being solved so that
consistency in the business is maintained and goals and objectives are achieved in effective way.
The various issues which were mentioned earlier comprised of how effectively the organizations
should be considerate towards the operational, financial and human related issues. These issues
and problems are solved to ensure safe and secure organizational structure so that the employees
within organization are entitled to perform better and contribute to the growth and development
of the organization (Nambisan and et.al., 2019). The causation and effectuation aspects helps the

entrepreneurs to value the business which is being undertaken at large scale. This helps in
knowing the measures as to how the management within the business is organized and are
changing their patterns and practices so that the global business focuses on expanding the
business at large scale.
It is very important that the global business environment focuses on framing the
strategies which helps in developing the scale of business at large scale. The global business
environment helps in understanding and measures as to how effectively the businesses should
consider the positive and negative measures of success overall within the business.
There are some critical factors which affects and influences the progress of organization
and the business (Collings and et.al., 2019). These critical factors also affects the understanding
which the businesses have for the growth and are planning and coordinating the aspects as to
how effectively and in appropriate manner the changes are being considered at large scale. It is
very important to resolve the issues and problems which the entrepreneurs are facing at large
scale. There are major aspects as to how effectively and in appropriate manner the changes
should be framed which helps in resolving the issues at large scale.
This helps in knowing the aspects of growth and development which enables the progress
which is to be measured in effective manner (Yun and et.al., 2019). It becomes very important to
resolve the issues and problems so that global business objectives within the business are being
achieved at large scale. There are many aspects of how the global business environment is
considered at large scale. Business management issues when solved helps in stabilizing the
organization structure. There are also specific structures of roles and responsibilities which are
there in the business.
CONCLUSION
Thus, it is concluded from the above essay that concepts of causation and effectuation
were explained in brief with the process of causation and effectuation at large scale. Further,
understanding dynamics of business management issues in the contemporary global business
environment was also explained in detail which provided positive and negative aspects within
description. Therefore, it was also recommended in essay to resolve the business management
issues.

REFERENCES
Books and journals
Arvidsson, H.G. and et.al., 2020. The shift from causation to effectuation for international
entrepreneurs: Attitudes and attitude change versus social representations. International
Journal of Entrepreneurship. 24(3). pp.1-23.
Collings, D.G. and et.al., 2019. Global talent management and performance in multinational
enterprises: A multilevel perspective. Journal of management. 45(2). pp.540-566.
Galkina, T. and et.al., 2021. The synergy of causation and effectuation in the process of
entrepreneurial networking: Implication for opportunity development. International
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Mirror, B., 2019. Advances in the Technology of Managing People: Contemporary Issues in
Business. Marketing. 135. p.136.
Morozova, I.A. and et.al., 2019. Sustainable development of global entrepreneurship:
infrastructure and perspectives. International Entrepreneurship and Management
Journal. 15(2). pp.589-597.
Nambisan, S. and et.al., 2019. Global platforms and ecosystems: Implications for international
business theories. Journal of International Business Studies. 50(9). pp.1464-1486.
Qi, K., 2020, April. Business Steward: Definition, Mode and Influence. In Journal of Physics:
Conference Series (Vol. 1486, No. 4, p. 042029). IOP Publishing.
Schoemaker, P.J. and et.al., 2018. Innovation, dynamic capabilities, and leadership. California
Management Review. 61(1). pp.15-42.
Tallman, S. and et.al., 2018. Business models in global competition. Global Strategy Journal.
8(4). pp.517-535.
Telukdarie, A. and et.al., 2018. Industry 4.0 implementation for multinationals. Process Safety
and Environmental Protection. 118. pp.316-329.
Yu, X. and et.al., 2018. Managing uncertainty in emerging economies: The interaction effects
between causation and effectuation on firm performance. Technological Forecasting
and Social Change. 135. pp.121-131.
Yun, J.J. and et.al., 2019. Micro-and macro-dynamics of open innovation with a quadruple-helix
model. Sustainability. 11(12). p.3301.