BUS6001 Contemporary Management Issues (GC01621)
Contents
1.0 Introduction.
2.0 Key dynamic forces impacting on business and society and their relationship.
2.1 Social changes and their importance in business.
2.2 The nature and pace of social change.
2.3 Drivers of social changes.
Affluence.
Migration.
Social order
Caste and class systems in a society.
2.4 How to measure social change.
2.5 International dimension in terms of social change.
2.6 Social and cultural diversity.
3.0 Conclusion.
References.
1.0 Introduction
Contemporary management issues refer to the process of finding out the issues in businesses. Contemporary management issues have appeared as an outcome of past and recent ways of thinking in businesses. This way of thinking is influenced by social changes. The social changes can be referred to as changes in the social order and cultural norms. These occur due to many driving factors like technological changes, environmental changes, and economical changes (Hamilton, 2016). This paper discussed contemporary management issues. The first section discusses the main forces that affect business and society and their link. The second section enlightens about the social changes. The third section describes the kind and rate of the changes in society. In the fourth section, the drivers of the changes in society have been explained. The fifth section states about the marker of the society. The sixth section explains the social change in the international dimension. The final section describes cultural diversity.
2.0 Key dynamic forces impacting on business and society and their relationship
2.0 Social changes and their importance in business
According to Bond (2012) social order of society is impacted by social changes. Social changes can occur in different ways like changes in the nature of society, changes in the social organization, changes in social behavior etc. Haferkamp and Smelser (2012) suggested that social change can be referred to as an important variation in the order of social culture and behavior. These variations can cause some serious results. However, these variations in society appear overs a long period of time. For this, these changes are particularly hazardous for businesses. In addition, the identification and reaction towards these changes and identifying the impact of the behavioral and cultural changes on the business is difficult. According to Thomson (2014), these social changes also can be called ‘future shock’. In another word, management of the social changes is needed because their impact and significance are very unpredictable and unknown.
2.2 The nature and pace of social change
As Rudel and Hooper (2016) recommended, the rate of social changes has been escalated these days. This rate of escalation and nature of the changes are the result of alternating environment, industrialization and advancement in technology. However, according to Gallangher (2011) major social changes has been occurred in the time of late twentieth and early twenty-first centuries. Most of the changes were impacted and influenced by the business at that time. Such as advancement in technology has altered human behavior. Nevertheless, some experts believe that the economical environment at that time also was evidence of slowing down of the social changes. At that time, the economical recession took place which caused a decrease in the rate of social changes. Luiz and Paul (2018) added that this economical recession halt the social changes in the early 1990s and in 2008. In spite of this information, as a contemporary management issue, social change is still important for the economical status of the companies.
2.3 Drivers of social changes
According to Haferkamp and Smelser (2012), drivers of the social changes are the determinants that are not very simple to understand and measure. These determinants can be grades of prosperity and transfer. There are many challenging theories that can be used to describe social changes. However, the features of these theories are above the opportunity of this paper. The main focus of this paper is the social changes as contemporary management issues. The aim of this paper is to inspect the social changes, their impact on the business and the activities of the companies which they can conduct in order to manage the impact. According to Wetherly and Otter (2014), to construct this contemporary management issue, there are two drivers of social changes. They are a) affluence; b) migration. Affluence refers to escalating broadening of respective allocation of the wealth usually has raised the status of wealth throughout the various part of the world. Migration refers to uncontrolled and controlled both of the population movement has directed the social changes in the various part of the world (Furlong and Cartmel, 2014).
Affluence
Ransome (2005) stated that in plenty of western cultures one of the determining factors are expenditure rather than manufacture. In the social changes of plenty advanced societies, affluence is one of the significant factors According to McMichael (2012). In various other societies, noticeably is China expenditure is gaining importance factor as a society changes. Peoples’ way of work, expenditure and culture is changing because the affluence of many people in the arising economy is escalating.
In addition, the ultimate escalation of the wealth in plenty economics in international aspect has an impact on the change of the peoples’ behavior. These alternations in the behavior influence the business operations, production, quality of the product and service provided by the company. In addition, Furlong and Cartmel (2014) stated that affluence alternation has affected the behavior pattern of certain age groups of the population. The expenditure order of the young generation has been altered due to changed affluence in society. A different approach by the government towards the tax collection and passing of the wealth from generation to generation has enlightened the relation between social changes and the affluence………………………………………
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