Contemporary Management Issues in the 21st Century - Essay

This essay addresses contemporary management issues in the 21st century, focusing on competitive strategy models, HR theories, and the impact of Artificial Intelligence on business strategy and workforce management. It critically evaluates the role of AI in global business environments and discusses the importance of talent acquisition, learning and development, and change management in maintaining a competitive edge. The essay concludes by emphasizing the necessity for businesses to adapt to changes and leverage technologies to achieve organizational goals effectively. The document is available on Desklib, a platform offering a wide range of study resources for students.

Contemporary
Management Issues in
the 21st Century

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Competitive strategy models and HR theory...............................................................................3
Critically evaluate the role and impact of Artificial Intelligence on the overall business
strategy and the management of workforces in organisations within a global environment.......4
Importance of talent acquisition, learning and development, and change management in the
current global competitive climate..............................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Management is defined as the activities that are related to coordinating and administrating
business operations in order to attain determined goals and objective in systematic time-period.
There are various issues are faced by management such as decreasing employee performance
level, poor communication, hiring skilled employees, performance pressure and ineffective time
management that impact overall business performance. This report covers competitive strategy
model and HR theories as well as importance of artificial intelligence in business strategy and
workforce management. Along with that, importance of talent management, change management
and learning and development in current global competitive climate is explained in this report.
TASK
Competitive strategy models and HR theory
Competitive strategy models
In current competitive business environment, various model and theories are implemented in
organisation in order to run business operations in best possible manner. competitive strategy is
related to develop effective decisions and actions that help business to produce higher results. As
results and outcome of the decisions that are made by the leaders of business. The framework
that guides competitive decisions are defined as the competitive strategy. It enables business to
gain sustainable competitive advantages over other rivals. Competitive strategy helps business to
take decisions regarding organisational marketing, management, financial and operating
strategies (Galli, 2018). There are various strategic approaches such as offensive strategy that is
related to overcome business barriers to achieve business goals through changing systematic
relationship. It requires higher capital investment. Defensive strategy accepts all industry
competitive forces as a given and positioning business to best defend against them as well as
Guerrilla or niche strategy is related to minimise and neutralizing barriers through reducing the
size of the playing field as well as taking an offensive or defensive position is specific smaller
and more attractive market segment.
HR theory:
Human resource theories are the general theories, tactics as well as objectives that are used by
business owners as well as managers in order to administrator business policies and procedure
related to employees. HR theories explains how management structure and practices influence

employee behaviour in favourable and bad situations. There are various HR theories such as
organisational lifestyle theory, strategic contingency theory, transaction cost theory and genera
systems theory (Hafberg, Borinstein, and Alexopoulos, 2019). All these HR theories are
implemented in business in order to manage employees’ operations in efficient manner and
encourage them to perform with efficiency to attain business goals and objectives in best
possible way.
Critically evaluate the role and impact of Artificial Intelligence on the overall business strategy
and the management of workforces in organisations within a global environment
Artificial intelligence is defined as the simulation of human intelligence in machine which are
the programmed to think lie human and mimic their actions. It is associated with machines that
exhibit traits that are associated with human mind such as learning and problem-solving. There
are various artificial intelligence system are used by business such as reactive machines, limit
memory machines, theory of mind and self-aware artificial intelligence (Veneris, Mahajanand
Frazier, 2020). It is used in business to gain personalised recommendation to people for
developing business strategies. As implementation of artificial intelligence facilitates
organisation to make sound decisions, improve core business process through enhancing speed
as well as accuracy of strategic decision-making processes.
The age of AI is characterised by the emergence of a different kind of organisation, structured
for a business environment shaped by digital networks, analytics, and artificial intelligence. AI
forms the basis for all computer learning and enable business to take complex decisions that help
business to handle situations with efficiency and effectiveness (Hajiyev, and Burgu, 2017). It is
very important for the business to develop systematic business strategies abs manage workforce
in appropriate way with the help of artificial intelligence that help business to attain determined
goals and objectives in best possible manner. In the global business environment, businesses
operate their operations in other countries that enhances complexity for business. In this stage,
AI plays important role in creating effective business strategies and manage organisational
workforce. As there are various AI workforce management tools are implemented by
organisations in global business environment such as advance tracking, reporting and forecasting
in order to store, maintain, update, manage and observe employee data in appropriate way. It
helps business to make intelligence decisions and improve their productivity in competitive
global business environment.

Implementation of digital technologies helps business to gain endless number of opportunities
that lead business towards growth and development. Artificial intelligence helps business
through reducing repetitive tasks in organisation so employees can concentrate on their specific
task, complex problem-solving and perform impactful work. Through using machine learning
and predictive data analysis management of organisation can take efficient decisions, develop
strategies and manage all employees so they can contribute in attaining business goals and
objectives (Imazio, and et.al.,2017). After pandemic, businesses use various digital technologies
for performing business operations delivery services. There are various AI technologies such as
e-learning, fine dining takeaway and drone delivery. Revolution of technologies pushed the
world faster into future and facilitates business to conduct its operations in more efficient
manner. Through using different technology of artificial intelligence business can store it
information and use it decision-making and policies formation that helps business to gain
competitive advantages over other competitive in global business environment.
Importance of talent acquisition, learning and development, and change management in the
current global competitive climate
Talent acquisition is defined as the process that is used by organisation for recruiting,
handling as well as interviewing candidates and provide them training to new employees. It is the
important function of human resource department. Approaches of talent management is
important for the business to hire and acquire skilled and capable employees as per job profile
who can perform business operations with greater efficiency and effectiveness. It is essential for
business growth and success as well as provide various competitive advantages as compared to
other competitors. In current competitive business environment, training and development
opportunities enhance employee’s performance and engagement level with business activities.
Learning and development is defined as the HR function that is related to provide work related
training to employees in order to enhance their skills, capability and competencies that enables
them to contribute in attaining organisational goals and objectives (Maali, and et.al., 2020).
Learning and development is important for the business to retain skilled and talented employees,
improve their productivity and enables organisation to generate higher profitability. In
competitive business environment, complexity of operations is enhanced so it becomes
employees to make employees capable to perform operations through provide training. Along
with that, effective learning and development strengthen employees’ internal weaknesses, engage

and motivated employees to perform with effectiveness. It leads business towards growth and
development.
Change management is defined as the process that describes how to implement changes in
business. In current business environment is complex and dynamic in which regular changes are
happened that impact overall performance and efficiency of business operations. All these
aspects enhance importance of change management in business. Effective change management
prepare business for transition and adopt changes in appropriate manner that help business to
manage all business operations (Malik, AlDarrab, and Edward, 2020). It facilitates business to
decrease resistance for changes by employees in initial stage and encourage employees to adopt
new technologies, process and other changes in systematic way. Through executing change
management procedure improve overall performance and productivity of business as well as
reduce cost that led business towards growth and development. Change management helps
management department of organisation to communicate changes to employees and influence
them to adopt changes through communicating all benefits and advantages of changes so
employees can contribute in attaining business goals and objectives in best possible way.
All these concepts of human resource such as learning and development, talent acquisition and
change management helps business to run its operations in competitive business environment
with great efficiency and effectiveness. Ineffectiveness in these factors creates challenges and
issues for management (Stiglitz, 2017). There are various technologies are used by business for
hiring employees and make them enable to perform properly through provide training and
development opportunities.
CONCLUSION
As per above report, it can be concluded that it important for the business to manage its
operations in systematic manner in order to attain determined goals and objectives in appropriate
manner. Artificial intelligence plays important role in business strategy as well as managing
workforce in competitive business environment. There are various HR functions like talent
acquisition, change management and learning and development plays important role in
performing business operations in competitive business environment. It is essential for the
business to analyse all issues that are raised in business than develop effective strategy to resolve
them in efficient manner.

REFERENCES
Books and Journals
Galli, B.J., 2018. Change management models: A comparative analysis and concerns. IEEE
Engineering Management Review, 46(3), pp.124-132.
Hafberg, E., Borinstein, S.C. and Alexopoulos, S.P., 2019. Contemporary management of
hepatoblastoma. Current opinion in organ transplantation, 24(2), pp.113-117.
Hajiyev, P. and Burgu, B., 2017. Contemporary management of vesicoureteral reflux. European
Urology Focus, 3(2-3), pp.181-188.
Imazio, and et.al.,2017. Contemporary management of pericardial effusion: practical aspects for
clinical practice. Postgraduate medicine, 129(2), pp.178-186.
Maali, and et.al., 2020. Change management practices for adopting new technologies in the
design and construction industry. Journal of Information Technology in
Construction, 25, pp.325-341.
Malik, R., AlDarrab, A. and Edward, D.P., 2020. Contemporary management of refractory
pediatric glaucoma. Current opinion in ophthalmology, 31(2), pp.123-131.
Stiglitz, J.E., 2017. Industrial policy, learning and development.
Veneris, J.T., Mahajan, P. and Frazier, A.L., 2020. Contemporary management of ovarian germ
cell tumors and remaining controversies. Gynecologic Oncology, 158(2), pp.467-475.