The assignment talks about Contemporary business management issue and challenges. Identify a contemporary management issue of business significance.describe, and explore how this poses challenges for managing individuals and organizations in question.
Contemporary business management issue and challenges
Identifying, explaining and illustrating managerial or organisational responses to a business management issue and challenges. Also, how these impact on organisations and managerial practice (topic in relation to motivation). More specifically, your assessment will include the following sections: 1) Identify a contemporary management issue of business significance. Describe, and explore how this poses challenges for managing individuals and organizations in question. This should draw upon ideas and weekly lecture topics from across the module. 2) Research and illustrating with evidences; you need to show both how organizations/managers are actually responding to the challenges, and theoretical frameworks and concepts from the academic sources, as resulted from literature study and your wider reading.
Contemporary business management issue and challenges
3) Contextualizing your discussion with the real life examples; suggesting on how organizations and managers should deal with the issue. Also, relate your recommendations to existing theories or ideas.Planning is an essential function of management for any small business. Business owners must plan for changes in their industry, the marketplace, the macroeconomic environment and the legal environment.The business environment is dynamic.Besides, the dynamism is seen as it relates market demand; technology, productivity, social responsibility, the use of modern and efficient communication system, the use of facilities external to organisations, the management of human resources and so on. As a result of these ever present changing conditions and variables, orthodox and atavistic management methods may be thus grossly inadequate to meet the new challenges
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