Modern issues and current events have an effect on organizational culture and behavior alike. A 2010 study of the effects telecommuting had on non-telecommuters revealed some interesting findings. Changes in society impact how organizations operate. For the rest of this module will discuss current challenges within the workforce and how they impact organizations on an individual, group, and organizational level. Any modern-day trend, event, idea, or topic around a current subject that is relevant to people can be defined as a contemporary issue. Uncertainty in the global economy, uncertainty in the credit markets, uncertainty in how new regulations will affect business, uncertainty about what competitors are doing, and uncertainty about how new technology will affect the business—these are just the start of a never-ending list. A contemporary business environment maximizes the potential of a business, and fully utilizing the resources, in an effort to make the company Read More More about Contemporary Issues in Business Maybe your parents, nieces, or uncles? In fact, in some cities, you can be within walking distance of 30 different Starbucks locations at once. From climate change to technology, social issues to health, contemporary issues abound in almost every area of our current lives. Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. Harassment and discrimination are arguably the largest ethical issues that impact business owners today. Keeping jobs within the United States is a big concern for many Americans whom argue the importance of employing citizens before hiring outside of the country. This business and its environment discuss a system’s concept. This is a controversial topic in today’s business world. So, what do you think? Developed By TOS, When most investors refer to the term ‘market”, they mean, All products cannot be made the same way: the nature of the product, The product or service is marketed in many ways on the Internet, Whenever one person influences an individual or group toward, Most actions that help a firm increase the price of its stock, Definition of the Business environment, both Internal and External with their Components, Uses of market measures and Stock Market Concept, How to maximize stock price and also benefit society. Changing an organization’s behavior to meet sustainability goals is not a quick and easy thing. First, non-telecommuters were frustrated with telecommuters. Many would claim that technology makes life easier, allowing people access to information at the drop of a hat. This report is based upon a critical evaluation of British Airways in response to a matter in contemporary issues in business. Contemporary Issues and Challenges in Marketing Environment Worldwide: 10.4018/978-1-5225-7180-3.ch002: Investigating contemporary issues in specific scientific areas is a continuing concern within understanding underlying conditions and decision making. Contemporary Issues in Management discusses how the late professor Sumantra Ghoshal, of London Business School, suggested that the economic theory that now underpins much of management has been a major cause of business corruption. The U.S. This new process may cost additional resources, time, and money. First, let’s discuss the positive impact telecommuting has on organizational behavior. Traditionally, business ethics played an important part in the development of business because companies were and still are extremely concerned with their reputation and public image of their brand because the deterioration of the brand image or the formation of a negative attitude of customers to a brand would and will inevitably lead to the overall deterioration of the marketing perfo… To better understand how telecommuting impacts organizational behavior, let’s learn more about how it works. Hiring too many freelancers (or outsourcing too many positions) can make uniformity extremely challenging. Technology allows organizations to be in constant communication. One contemporary issue facing organizations today is telecommuting. Sometimes, there are special projects that require an outside perspective or expertise. Equal Employment Opportun… contemporary definition: 1. existing or happening now: 2. belonging to the same or a stated period in the past: 3. someone…. While some differences may be caused by opposing beliefs, other differences may be something a little less obvious. This can create an organization where some employees telecommute all the time, others telecommute part of the time, and the remainder work from the office all the time. The organization accepts resource inputs like materials, men, money, machinery, and information, and transforms them into expected outputs. Finally, change is hard. This is solution of Contemporary Issues in Travel and Tourism Assignment given in UK College of Business and Computing. There are currently over 4.3 million employees that work from home, at least half of the time. The marketing field always seems to be undergoing change, especially now that accessibility to the Web is available to just about anyone with an Internet connection and a browser. Probably nothing. Did You Know? It means that the person who is involved in contemporary management should be aware of the recent variations of the management … If you want to fully understand this business and its environment, you can take the business organization as … The paper usage example, in a nutshell, explains the complications of sustainability in today’s society. First, the company needs to implement a company-wide goal to reduce paper usage. This can be beneficial for many people, providing them a continuous connection to their workplace or it could be damaging to work-life balance. Let's take a closer look at some of the contemporary challenges that organizations face tod… If we think about the ethical issues that face managers in contemporary business, we really are looking at some broad topics that, once again, … Were your grandparents there? Although you may view these differences as quirky things your Aunt Susie or Grandma Betty say or do, there may actually be reasons they act a certain way. contemporary issues definition in English dictionary, contemporary issues meaning, synonyms, see also 'cotemporary',contemporarily',contrary',contemporaneity'. The report will first identify the issues to British Airways and then evaluations on how British Airways is dealing the issue by the means of using academic research critically. Should harassment or discrimination take place in the workplace, the result could be catastrophic for your organization both financially and reputationally. Humans tend to bias the analysis of situations based on their previous experiences and back-ground. Imagine that it's 1985, and you're on a beach in Miami, Florida. Learn more. While the employees within the marketing department have job security, their interactions with human resources may pose a challenge as there would be lack of familiarity and relatability. “Perception is reality” has become … Within seconds, people on opposites ends of the world can “meet” through emails, phone calls, video conferences, etc. New technology innovations have also made once time-consuming tasks much more efficient, allowing people to accomplish more in less time. the-definition.com All Rights Reserved. Some even grew to be envious towards the telecommuters’ working arrangement. Contemporary Business Issues – Special NAAS Edition Editor’s Forward I would like to thank all who volunteered to serve as reviewers, particularly those who actually participated in reviewing the articles submitted for publication in the current issue. While companies may control the outsourcing process, they give up partial control by hiring a third party. In addition, the telecommuter population has grown 11.7% over the last year, which is the largest yearly growth since 2008. By the word 'contemporary' means belonging to the same period of time or of the present time. CONTEMPORARY ISSUES IN BUSINESS ETHICS, 6E also takes time to look at ethics from the unique perspectives of either employee or employer. Modern technology has connected every corner of the world. Let’s focus on those smoke stacks for a minute. Being self-motivated is a huge key to success for telecommuters. Obviously the answer depends on the situation and circumstances of each company. © 2021 Sometimes family reunions are accompanied by a lot of drama and differing opinions. Contemporary approaches to leadership include transformational leadership, leader-member exchange, servant leadership, and authentic leadership. Let’s move on and discuss how telecommuting both challenges and improves organizational behavior. Companies in the United States outsource for a variety of services including but not limited to call centers, information technology (IT), human resources, and manufacturing. So far, telecommuting sounds great! This has the potential to lead to frustration and disconnect. Let’s look at a simple example of how to implement sustainability. Then, the groups and individuals within the company need to change their daily behaviors to meet the goal. Changing company procedures or practices used to be completed in house, but with outsourcing they now have a much lengthier modification process. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. The appeal of increasing profit margins can oftentimes outweigh the value put on hiring American workers. Contemporary definition: Contemporary things are modern and relate to the present time. Telecommuting allows people to work from anywhere, anytime. Contemporary business and its environment also take into account a business’s micro and macro environment. Before we get started, it is important to define outsourcing. In order to be successful, the three levels of influence must work together. The "contemporary" indicate the relation to the present and up-to-date trends in the sphere of management. Telecommuting can also save companies a lot of money by limiting the amount of office space and supplies needed to operate their business. Economic issues continually challenge businesses to adapt and change to meet current conditions. More difficult still is the ability of an organization to follow-through and instill the plan within their culture. This in turn benefits the organization and ensures better employee retention. Telecommuters are often happier in their jobs and are therefore more motivated to perform on a higher level. Without a doubt, technology has changed the face of modern society and the organizations within it. In addition, all three generations believe training and feedback is extremely important for a successful career. — Starbucks Coffee (@Starbucks) July 9, 2018. This has allowed outsourcing to become a more feasible business practice than in past decades. The world around is a continuously transforming place and the issues, which have an effect on the travel and tourism industry differ from place to place and on day to day basis (Poon, 1993). It is the ability to successfully perform tasks in the present, while also doing what is necessary to protect the future. It studies the business organization as an open and adaptive system within a macro-system. The follow-through of the plan is equally as important as the goal itself. Starbucks is taking action to show its dedication “going green.” In fact, if you visit their website, they have a portion of their website dedicated to enacting sustainable solutions where they talk about enacting change in their stores, their packaging, and their power solutions. People who telecommute are oftentimes self-motivated and efficient as they do not have the typical distractions of a traditional workplace environment. With cell phones, emails, and video conferencing, people are readily available at any time of day or night. You may picture managers in early 1900s clothing, observing their employees from an observation deck as they work. Macroeconomics is a part of economic analysis that focuses on the understanding of economic issues at the aggregated level. Since the managers and employees are not housed in the same building, managers cannot stop by their office to see first-hand how they are doing. Without a doubt, technology has changed the face of modern society and the organizations within it. Again, it highlights the 3 primary elements of all organizational systems. Examples of Contemporary Issues in the Marketing Field. CONTEMPORARY ISSUES IN BUSINESS Contemporary Issues in Business Contemporary Issues in Business Question 1 China and India are two of the fastest growing economies in the world today. While these may not have been important questions back in the day, they are critical in today’s society, as climate change becomes an ever-present issue. You may have heard of modern terms like sustainability, going green, carbon footprint, or triple bottom line. Take a look at this article from Forbes all about how companies are being driven to more green solutions due to customer choice and demands: A Surprising Push By The Invisible Hand: Why More Companies Are Doing Better By Being Good. Finally, another popular practice in today’s organizations is having employees that telecommute only part-time. Your clothes are now considered vastly outdated, along with your taste in music. Outsourcing effects each level of influence within an organization differently. You've decided to take a nap and when you awake, you realize that it's now 2015. Young, old, or somewhere in the middle, most people do not enjoy change. There are the following contemporary issues of businesses: The Situation of Uncertainty All human beings especially the business professionals find discomfort themselves due to the situation of uncertainty. Businesses and organizations also change just as frequently, and along with these changes are challenges. Towards the future, these features of the society are going to evolve, and either develop further, or recede into oblivion, as other contemporary issues take over. Definition (1): By the word 'contemporary' means belonging to the same period of time or of the present time. When organizing a business, you have to balance the need for formal structures with the requirement that the business might have to quickly respond to changes in the marketplace. However, outsourcing, without a doubt, has an impact on a company’s organizational behavior. If they cannot find a productive place to work, telecommuters may become easily distracted and not meet their deadlines. However, there are some challenges to managing telecommuters. This becomes a challenge because organizations need to rethink how they will manage telecommuters. The business organization functions with the environment with the help of input and output interfaces. Even company employees whose jobs are not directly impacted by outsourcing may be affected. Since technology plays a prominent role in organizations, it impacts organizational behavior. For starters, outsourcing can save companies a lot of money. It takes lots of time, energy, consistency, and motivation to successfully lessen an organization’s carbon footprint. While it is important to understand the history of organizational behavior, it is equally important to understand how contemporary issues affect organizational behavior. Contemporary Issues In Business Commerce Words: 3239 Pages: 12; Contemporary Issues in Organizational Leadership Words: 1080 Pages: 4; Contemporary Health Care Issues: Accessibility and Healthcare Words: 797 Pages: 3; Issues Of Contemporary Management Analysis Words: 680 Pages: 3; Contemporary Developments In Business A Words: 3297 Pages: 12 This term denotes the modern techniques to administrating people in business organizations, government bodies, or non-profit organizations. These policies and procedures need to include accessibility expectations, communication requirements, mandatory technology capabilities, etc. With all of the great things technology brings to the table, it also brings challenges. This is appealing to many people because it allows them to better balance their work and personal life. Organizational behavior is constantly evolving. If outsourcing is considered such a taboo practice, then why do companies continue to outsource? As you can see, with forethought and a clearly defined and executed plan, telecommuting can be extremely beneficial to organizations. What do you see? Everything has changed within a small amount of time. Now, what happens if no one reiterates the goal/plan? These terms play an important role in modern society and sustainability specifically, is becoming common practice as consumers are becoming more aware of the impact companies have on the environment. More importantly, learning about generational differences may provide helpful insight into how your coworkers operate. It is obvious that telecommuting is changing the way employees interact with their peers and supervisors. Let’s break down each one and examine some similarities and differences! For example, if a company outsources their human resources division, it may have an indirect effect on the marketing department. Most importantly, they need to explain the plan for how to achieve this goal. It would need to become a part of the company’s culture through consistent training, purposeful discussions, and regular evaluations. Contemporary Organizational Structure. Telecommuting is a work arrangement which allows employees to work remotely, often from home, while completing their tasks. This can have an impact on morale. Technological advances have also led to the notion of globalization and a higher awareness of international concerns. Telecommuting also cuts back on daily interactions with other employees. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. Is outsourcing good or bad for an organization? Outsourcing is the practice of hiring external assets to provide services to help perform job functions typically done by internal employees. How do you adjust in just a matter of hours? While conference calls and video conferencing is common practice today, some telecommuters may feel isolated and struggle with the lack of face-to-face communication. This has the potential to create a toxic work environment and have a negative impact on productivity. 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