Report on Future-Proofing: Analyzing Workplace Trends & Issues

This report analyzes contemporary workplace trends, focusing on future-proofing strategies as highlighted in the provided article. It discusses globalization, technological advancements, and evolving stakeholder relationships as key drivers of change in the business landscape. The report emphasizes the importance of adapting to these changes for sustainable business development, drawing examples from companies like Tesla. It further explores the shift towards social acceptance of businesses, the role of millennial expectations, and the benefits of a purpose-driven business model. The report concludes with a future plan outlining steps for small businesses to achieve sustainability by focusing on stakeholder engagement, resource management, and innovation. It suggests that businesses should learn about sustainability, assess areas for improvement, find opportunities, create a vision, and implement changes to address contemporary issues.

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Contemporary issue/trend in the workplace Memo
TO:
FROM:
DATE: May 24, 2019
SUBJECT: analysis of contemporary issue/trend in the workplace
Contemporary issue in article
Audience: team members of project
Goal: our goal is to identify the trends and issues of the contemporary business and find out
methods to overcome those issues in the business.
Analysis of the article:
The article named “why your board needs to implement a future proofing
strategy’ the author has pointed out some of the most important trends that is changing the
overall feature of the business around the globe. Globalisation the nature of business has
completely changed and new drivers of business growth are being found out. Along with the
expansion of the business in different parts of the world, the competition level has also
increased. This is the reason why the competence of the forms have become the chief focus
of the management so that every aspects of the organisation contribute properly for the
growth of the business in any part of the globe. With the changing nature of customer
payment product development and incorporation of Technology in the production and service
sector the process of doing business has been changed which for some organisation has
become blessings and for the others have become curse. In this article the author has given an
examples of different renowned companies which have properly utilised these changes of
business for the uplifting of their company but some has failed to utilise this scope.

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From the beginning the author has focus on the growth of automobile company
named Tesla which effectively had captured the essence of future demand and how this will
change the entire market where it operates. Through this example the author has established
the fact that no company can grow itself if it clutches onto its Status quo but keep on
changing the shape, size and operation to match the change for lasting success. Firstly this
article has focused on the risks and opportunities of new technologies which has become one
of the major drivers of business growth. The more the companies can utilise the Technologies
the more they can adapt with the changing situations with changing Business models. This
increases the company’s capability to prosper with time as opportunities of new technologies
can enhance relationship between the society and business.
The author of this article has segmented the entire reading into some parts detailing
the factors leading for contemporary business trends. First of them is the stakeholder
relationship that was not present a few decades ago but have become one of the most
important aspect of success for business. It is the community expectation which manipulates
the business and the decision making. for becoming successful business must be socially
acceptable where the company can answer every question of the stakeholders starting from
consumers, shareholders, employees, communities, suppliers and the environmental agents
take care of the ethical and sustainable development of a business (Newton et al. 2015) The
social Expectations of the private-sector is continuously changing because the customers are
becoming more aware about their rights and how the company is responding to the
environmental demands and the claims of the other stakeholders decide the customer loyalty.
Similarly as the companies have become more cross-cultural the organisational culture have
been regulated by the national culture and politics of the market where the union of the
employees take care of simple interest and labour rights. The other has referred to the

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ideology of Adam Smith famous economist who you asked the business of the future to
become more focused towards the capital allocators mainly the wall street and millennial.
The importance of shift towards the social acceptance of the business from economic
one has been debated by many critics where the investment in the community has been seen
to be waste of capital but in today’s business framework investment and taking care of the
community and other stakeholders is the method of responding brother societal challenges.
For prosper for what time the companies need to deliver financial performances in one hand
and show how they can positively contribute to the society. This is the only method of
leading the business towards sustainable development where the business respective of their
size and structure will get support from the society if it gives opportunity to do the same. By
supporting the interest of the millennial, companies can choose the best candidates to hire
who will contribute their best for the interest of the business (Saundry et al. 2016). The
businesses which failed to build a sustainable business model actually struggle to get the
investment dollars but they also lack proper human resource which can help to overcome this
type of crisis.
In this article the author has referred to the sustainable business development as
purposely business and found out some of its benefits. According to the author the business
can frame growing Global Response easily to overcome the negative aspects and risk factors.
The purposeless business can easily mitigate risks and build a purpose for growth. They see
the show the lines of opportunities where both small as well as medium-sized Enterprises also
flourish without much capital or support of millennial (Castellani et al. 2018). The author has
pointed out that the small and medium size Industries can and bring changes more easily than
the large corporations this is due to the fact that the national culture as affect the
organisational culture the Global Business need to have different types of norms and
regulations for different markets. On the other and the small and medium enterprises have

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advantage of introducing new systems, values and structures so that the goals can be achieved
more quickly. This gives the SMEs advantage over their competitors and enhance their
potential to complete in the global level within short span of struggle (Brodie, Hollebeek and
Conduit 2015). On the other hand the larger companies have better infrastructure, more
stakeholders to respond and criticality of regulations which create barrier for the changing
Expectations of the customers in a market therefore overcoming status quo is quite difficult
for the larger corporations.
Finally the author has mentioned about the advantages of sustainable development of
both the larger as well as smaller industries where the sustainable business model can provide
Three Types of opportunities to the companies. These include increased investment inflows
bigger profits and protection against recession (Singhapakdi, Rao and Vitell 2015). the first
two relates to the investment, capital and other economic factors which Adam Smith had
referred as Wall Street and the last one relates to the millennial mentioned by the economist.
By balancing both capital as well as the human resource, the companies will be able to
develop themselves sustainable business organisations which will have dependable growth
for future.
Future plan:
In order to make the small business successful we need to focus on the factors which can
help our company to be sustainable. For this we must have a business sustainability plan that
our organisation will develop to achieve rose gold relating to the creation of social, financial
and environmental sustainability. As our business impact on the communities as well as
resources therefore we need to take initiatives for catering best interests of the environment as
well as the consumer which will safeguard our business interests (Jackson and Lockwood

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2018). There are 5 steps which the organisation can take to get the interest of the stakeholders
and make the company as sustainable business organisation. These are-
 Learning about sustainability
 Assess area of improvement
 Finding opportunity
 Creating vision
 Implementation of changes
Firstly for learning about sustainability the company needs to create awareness among
the employees and other stakeholders about the need of sustainability where using of
resources will be handled properly and minimization of wastage in the production as well as
marketing sector will be e achieved. It is the method of understanding profits and its
connection with people and Planet.
Secondly the organisation needs to assess the areas where improvement can be done.
In this regard learning the laws and checking compliance with standards get priority. Along
with this assessing global issues can help the company to improve the services and
production method which will minimise the risks of the company if it aims to expand in
future.
Thirdly the company needs to focus on innovation in both product as well as services.
It is the main way of finding opportunities and implement sustainable business practices
stock innovation the technology that is the main factor of business changes around the globe
will be in favour of the business and also help in driving in the competitive world. For finding
opportunities the employee input need to be enhanced where the engagement of employees
with the management it will be increased and they will take part in the decision making
process of the organisation.

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Fourthly, the business need to create a vision by finding the best method of
implementing changes and engaging the employees for going towards sustainable
development.
Finally the company needs to implement changes which may create risk if not
communicated properly to the stakeholders. Proper review of performances and method of
getting feedback on the changed policies will help in eliminating contemporary issues
affecting business.
References:
Brodie, R.J., Hollebeek, L.D. and Conduit, J. eds., 2015. Customer engagement:
Contemporary issues and challenges. Routledge.
Castellani, D., Narula, R., Nguyen, Q.T., Surdu, I. and Walker, J.T. eds.,
2018. Contemporary Issues in International Business: Institutions, Strategy and
Performance. Springer.
Jackson, T.W. and Lockwood, S., 2018. Business Analytics: A Contemporary Approach. Red
Globe Press.
Newton, J.M., Henderson, A., Jolly, B. and Greaves, J., 2015. A contemporary examination
of workplace learning culture: an ethnomethodology study. Nurse Education Today, 35(1),
pp.91-96.
Saundry, R., Adams, D., Ashman, I., Forde, C., Wibberley, G. and Wright, S., 2016.
Managing individual conflict in the contemporary British workplace. Managing individual
conflict in the contemporary British workplace, 2016(2).

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Singhapakdi, A., Rao, C.P. and Vitell, S.J., 2015. 14.2 Contemporary Issues in Asian/Pacific
Markets. In Proceedings of the 1995 World Marketing Congress (pp. 253-253). Springer,
Cham.