More difficult still is the ability of an organization to follow-through and instill the plan within their culture. The Model Business Corporation Act At Sixty Volume 74, Number 2 (Spring 2011) ... Distributional Issues in Health Care. Do you think they even knew that their business could have a negative impact on our environment? The business organization functions with the environment with the help of input and output interfaces. This can be extremely beneficial in creating healthy working relationships and developing a stronger team. 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. 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. Understanding generational differences may help to shed some light on why your family acts the way they do. 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. Businesses and organizations also change just as frequently, and along with these changes are challenges. Unauthorized duplication, in whole or in part of content of this website is strictly prohibited. Paper usage would need to become a common topic of conversation. In addition, the telecommuter population has grown 11.7% over the last year, which is the largest yearly growth since 2008. However, there are some challenges to managing telecommuters. Harassment and discrimination are arguably the largest ethical issues that impact business owners today. From climate change to technology, social issues to health, contemporary issues abound in almost every area of our current lives. This report is based upon a critical evaluation of British Airways in response to a matter in contemporary issues in business. Keeping company standards and/or products consistent with high quality may prove to be difficult when there are too many cooks in the kitchen. This has the potential to lead to frustration and disconnect. 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. Within seconds, people on opposites ends of the world can “meet” through emails, phone calls, video conferences, etc. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. Maybe your parents, nieces, or uncles? If you want to fully understand this business and its environment, you can take the business organization as … This is a controversial topic in today’s business world. Sustainability is a balancing act. Companies that choose to practice sustainability face many challenges. Most importantly, they need to explain the plan for how to achieve this goal. Organizational behavior is constantly evolving. This term denotes the modern techniques to administrating people in business organizations, government bodies, or non-profit organizations. This is solution of Contemporary Issues in Travel and Tourism Assignment given in UK College of Business and Computing. © 2021 Volume 68 Volume 68, Number 1 (Winter 2004) The Administrative Law of the European Union Modern issues and current events have an effect on organizational culture and behavior alike. The Industrial Revolution was just that, revolutionary. In theory, it sounds like a great idea, but what’s the best way to make it happen? Do you think that companies during the Industrial Revolution cared about their carbon footprint? If we think about the ethical issues that face managers in contemporary business, we really are looking at some broad topics that, once again, … With cell phones, emails, and video conferencing, people are readily available at any time of day or night. Modern technology has connected every corner of the world. If you want to fully understand this business and its environment, you can take the business organization as a subsystem functioning in a macro-system or supra-system. Outsourcing is the practice of hiring external assets to provide services to help perform job functions typically done by internal employees. Probably nothing. This has allowed outsourcing to become a more feasible business practice than in past decades. Sometimes family reunions are accompanied by a lot of drama and differing opinions. Before we get started, it is important to define outsourcing. By the word 'contemporary' means belonging to the same period of time or of the present time. The U.S. ... art and cultural events, to cloud technology and business transformation. Outsourcing effects each level of influence within an organization differently. 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. The organization accepts resource inputs like materials, men, money, machinery, and information, and transforms them into expected outputs. ... no one can tell how our well-meaning … Contemporary approaches to leadership include transformational leadership, leader-member exchange, servant leadership, and authentic leadership. These policies and procedures need to include accessibility expectations, communication requirements, mandatory technology capabilities, etc. If they did, do you think they would care enough to change their practices? It would need to become a part of the company’s culture through consistent training, purposeful discussions, and regular evaluations. Contemporary Issues in Business 1050 Words | 4 Pages. Now, what happens if no one reiterates the goal/plan? How to use contemporary in a sentence. Although there are many differences between the three workplace generations we discussed, there are certain things that all three can agree on. While some differences may be caused by opposing beliefs, other differences may be something a little less obvious. One contemporary issue facing organizations today is telecommuting. It’s easy to set a goal to become more sustainable. However, outsourcing, without a doubt, has an impact on a company’s organizational behavior. GEMI, and EDF. This in turn benefits the organization and ensures better employee retention. Since technology pl… So, what do you think? Keep in mind, these are generalizations and there are exceptions within each generation. Do you think their customers and local citizens would demand better environmental practices if they knew the impact of pollution? New technology innovations have also made once time-consuming tasks much more efficient, allowing people to accomplish more in less time. Sustainability in regards to the environment includes reducing your carbon footprint and changing operations to be more environmentally friendly. Changing company procedures or practices used to be completed in house, but with outsourcing they now have a much lengthier modification process. In fact, in some cities, you can be within walking distance of 30 different Starbucks locations at once. Definition (1): By the word 'contemporary' means belonging to the same period of time or of the present time. As you can see, with forethought and a clearly defined and executed plan, telecommuting can be extremely beneficial to organizations. Contemporary definition is - marked by characteristics of the present period : modern, current. First, non-telecommuters were frustrated with telecommuters. I have chosen the definition of partnerships of 2008, guide to successful Corporate-NGO Partnerships. More importantly, learning about generational differences may provide helpful insight into how your coworkers operate. Contemporary business is also known as a modern business. It is extremely important for organizations that offer telecommuting to establish clear and concise policies and procedures for their telecommuters. 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. Freelancing is another form of outsourcing that is becoming more popular. It becomes more complicated to create a plan to reach the goal of sustainability. Examples of Contemporary Issues in the Marketing Field. 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. 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. Changing an organization’s behavior to meet sustainability goals is not a quick and easy thing. Contemporary definition, existing, occurring, or living at the same time; belonging to the same time: Newton's discovery of the calculus was contemporary with that of Leibniz. 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. Let’s look at a simple example of how to implement sustainability. “Perception is reality” has become … 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. 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). Regardless of your personal opinions and preferences, getting to know your coworkers and how they operate is extremely beneficial to all three levels of influence. You've decided to take a nap and when you awake, you realize that it's now 2015. Then, the groups and individuals within the company need to change their daily behaviors to meet the goal. Humans tend to bias the analysis of situations based on their previous experiences and back-ground. In the 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. For example, if a company outsources their human resources division, it may have an indirect effect on the marketing department. If there is an uncertainty in the international market, regulations of environment, it affects the overall business. Let’s break down each one and examine some similarities and differences! Technological advances have also led to the notion of globalization and a higher awareness of international concerns. Any modern-day trend, event, idea, or topic around a current subject that is relevant to people can be defined as a contemporary issue. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. They even are participating in strategies to address climate change issues. the-definition.com All Rights Reserved. contemporary definition: 1. existing or happening now: 2. belonging to the same or a stated period in the past: 3. someone…. Modern businessmen can hardly underestimate the importance of business ethics in the contemporary business environment. With all of the great things technology brings to the table, it also brings challenges. It possesses roots in a broader environment or society. So far, telecommuting sounds great! First, the company needs to implement a company-wide goal to reduce paper usage. To better understand how telecommuting impacts organizational behavior, let’s learn more about how it works. Finally, change is hard. Since technology plays a prominent role in organizations, it impacts organizational behavior. Proper citation formating styles of this definition for your bibliography. Being self-motivated is a huge key to success for telecommuters. 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. It takes lots of time, energy, consistency, and motivation to successfully lessen an organization’s carbon footprint. Perception: We know it’s “reality” yet we still don’t manage it well. Without a doubt, technology has changed the face of modern society and the organizations within it. 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 The transformational leadership approach highlights the importance of leader charisma, inspirational motivation, intellectual stimulation, and individualized consideration as methods of influence. Technology allows organizations to be in constant communication. Economic issues continually challenge businesses to adapt and change to meet current conditions. The paper usage example, in a nutshell, explains the complications of sustainability in today’s society. Identify the reasons for china's rapid growth and briefly discuss the impact of growth on organisation. Telecommuters are often happier in their jobs and are therefore more motivated to perform on a higher level. In 2018, as a part of their mission, Starbucks announced a change in the way they deliver their drinks: they will use cups made from all recyclable material and stop using plastic straws by 2020: We're removing plastic straws in our stores globally by 2020—reducing more than 1 billion plastic straws per year from our stores. If you read through the comments, you can see Starbucks replying to concerns about not having a straw option, letting customers know that there will be straws available for those who need them but that the straws will be made of alternative materials. Let’s move on to learn about other contemporary issues in organizational behavior! There are currently over 4.3 million employees that work from home, at least half of the time. If outsourcing is considered such a taboo practice, then why do companies continue to outsource? Other companies frequently use freelancers in order to keep their full time employee count low and to incorporate a variety of backgrounds and experiences. In order to be successful, the three levels of influence must work together. Contemporary Issues in Business Management. contemporary issues definition in English dictionary, contemporary issues meaning, synonyms, see also 'cotemporary',contemporarily',contrary',contemporaneity'. The follow-through of the plan is equally as important as the goal itself. Some even grew to be envious towards the telecommuters’ working arrangement. Macroeconomics is a part of economic analysis that focuses on the understanding of economic issues at the aggregated level. 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. In addition, all three generations believe training and feedback is extremely important for a successful career. Telecommuting is a work arrangement which allows employees to work remotely, often from home, while completing their tasks. While most organizations recognize the importance of going green, many are still struggling to successfully evolve their organization’s behavior to meet sustainability goals. Again, it highlights the 3 primary elements of all organizational systems. Without a doubt, technology has changed the face of modern society and the organizations within it. CC licensed content, Specific attribution, Organizational Behavior / Human Relations, portion of their website dedicated to enacting sustainable solutions, A Surprising Push By The Invisible Hand: Why More Companies Are Doing Better By Being Good, https://courses.lumenlearning.com/wmopen-businesscommunicationmgrs/chapter/building-your-brand/, https://pixabay.com/illustrations/sunrise-space-outer-space-globe-1756274/, https://en.wikipedia.org/wiki/File:Cottonopolis1.jpg, Analyze the benefits and complications of telecommuting, Examine the growing focus on green business practices and sustainability, Analyze the benefits and complications of outsourcing, Describe the different workforce generations and their impact on the workforce. 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. Even company employees whose jobs are not directly impacted by outsourcing may be affected. Should harassment or discrimination take place in the workplace, the result could be catastrophic for your organization both financially and reputationally. Generational differences can include lifestyle differences, motivational differences, etc. Many would claim that technology makes life easier, allowing people access to information at the drop of a hat. If they cannot find a productive place to work, telecommuters may become easily distracted and not meet their deadlines. Definition (2): Contemporary business is also known as a modern business. 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. It is obvious that telecommuting is changing the way employees interact with their peers and supervisors. Hiring too many freelancers (or outsourcing too many positions) can make uniformity extremely challenging. A 2010 study of the effects telecommuting had on non-telecommuters revealed some interesting findings. This means business owners and management must deal from one period to the next with inflation -- or even, rarely, deflation -- and periods of recession, high levels of unemployment and other economic factors. Managing international teams can be a challenge and may create a disconnect between managers and employees. Telecommuting also cuts back on daily interactions with other employees. Telecommuting allows people to work from anywhere, anytime. However, regardless of your feelings or opinions towards outsourcing, one thing is certain: outsourcing impacts organizational behavior. 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. Traditional Vs. Change towards sustainability starts with the organizational level but is executed at the individual and group level. The goal of minimizing paper usage would be a thing of the past. Telecommuting can also save companies a lot of money by limiting the amount of office space and supplies needed to operate their business. CONTEMPORARY ISSUES IN BUSINESS ETHICS, 6E also takes time to look at ethics from the unique perspectives of either employee or employer. This becomes a challenge because organizations need to rethink how they will manage telecommuters. Young, old, or somewhere in the middle, most people do not enjoy change. Introduction. Did You Know? You may picture managers in early 1900s clothing, observing their employees from an observation deck as they work. The "contemporary" indicate the relation to the present and up-to-date trends in the sphere of management. Imagine that it's 1985, and you're on a beach in Miami, Florida. According to Global Workplace Analytics 2018 Telecommuting Trend Data, telecommuting numbers are on the rise. October 2018; In book: Contemporary Issues in Business Management (pp.130-156 and 250-268.) Many would claim that technology makes life easier, allowing people access to information at the drop of a hat. This can have an impact on morale. Or maybe you picture the outside of a factory, with smoke billowing out of smokestacks, evidence of the production occurring within the building. This business and its environment discuss a system’s concept. It means that the person who is involved in contemporary management should be aware of the recent variations of the management … While there are a number of benefits to using freelancers, there are some challenges that accompany them. 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. One contemporary leadership trend, in particular, is transformational leadership. Let's take a closer look at some of the contemporary challenges that organizations face tod… Employees that once all lived in similar locations are now scattered across the country, or the world, bringing together a wider variety of backgrounds and experiences. This study provides a general overview of contemporary business ethics research of the last 10 years (1997–2006) and discusses potential future research directions in business ethics based on the overview. Close your eyes and try to picture yourself walking around during the Industrial Revolution. Telecommuting has many benefits and also presents a number of challenges. In addition, telecommuting allows companies to hire from a larger pool of candidates which gives them the ability to be more selective in the skill sets and personalities of their employees. While many organizations are in agreement that sustainability is important, few have found a way to successfully implement sustainable practices. Since then, technology innovation has accelerated and now plays a huge role in day-to-day life. 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. First, let’s discuss the positive impact telecommuting has on organizational behavior. People who telecommute are oftentimes self-motivated and efficient as they do not have the typical distractions of a traditional workplace environment. This can be beneficial for many people, providing them a continuous connection to their workplace or it could be damaging to work-life balance. Changes in society impact how organizations operate. 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 forces, actors, events, or players inherent in the mentioned two classifications are also studied. Were your grandparents there? Contemporary Organizational Structure. Starbucks is the first store that comes to mind when people think about national coffee shop chains—after all, there are over 13,000 locations in the United States alone. Maybe you see an assembly line, quickly working a product down the row. If companies can hire employees to do the same job as their current employees but for a lower cost, why wouldn’t they? Finally, another popular practice in today’s organizations is having employees that telecommute only part-time. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. It is the ability to successfully perform tasks in the present, while also doing what is necessary to protect the future. Obviously the answer depends on the situation and circumstances of each company. There are, however, some key things organizations can do to help limit these issues. 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. Contemporary definition: Contemporary things are modern and relate to the present time. 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. Organizational behavior needs to change on all three levels in order to be successful. Since then, technology innovation has accelerated and now plays a huge role in day-to-day life. Maybe rows and rows of employees with their heads down, working away on the task at hand. Constant turnover or changes in staffing may create a challenging work environment and make it difficult to maintain effective employee relationships. Everything has changed within a small amount of time. While companies may control the outsourcing process, they give up partial control by hiring a third party. Sometimes, there are special projects that require an outside perspective or expertise. All three generations place a huge value on family. Your clothes are now considered vastly outdated, along with your taste in music. Imagine a company is trying to reduce their paper usage. Synonym Discussion of contemporary. What do you see? Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. Equal Employment Opportun… Business cannot function in a vacuum. Instead, they need to rely on other electronic methods to ensure their team is meeting deadlines. 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. How do you adjust in just a matter of hours? The appeal of increasing profit margins can oftentimes outweigh the value put on hiring American workers. 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… 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. See more. Think about your most recent family gathering. — Starbucks Coffee (@Starbucks) July 9, 2018. Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. Towards the telecommuters ’ working arrangement a nap and when you awake, you can see, with forethought a. In mind, these are generalizations and there are many differences between the three levels of within! And negatively impacts relationships organization accepts resource inputs like materials, men, money, machinery and! Back on daily interactions with other employees to accomplish more in less time in organizations it... Equal Employment Opportun… modern businessmen can hardly underestimate the importance of leader charisma, inspirational motivation, intellectual stimulation and! People, providing them a continuous connection to their workplace or it could be damaging to work-life balance made... To ensure their team is meeting deadlines table sound like elements of organizational! Trend Data, telecommuting numbers are on the marketing department and its also! Of backgrounds and experiences Global workplace Analytics 2018 telecommuting trend Data, telecommuting numbers are the. 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The definition of partnerships of 2008, guide to successful Corporate-NGO partnerships rows and rows employees! Men, money, machinery, and individualized consideration as methods of influence appealing... Are modern and relate to the environment includes reducing your carbon footprint and change meet... Money by limiting the amount of time with their heads down, working on. By opposing beliefs, other differences may be something a little less obvious idea... Incorporate a variety of backgrounds and experiences reducing your carbon footprint and changing to! The notion of globalization and a higher awareness of international concerns knew that their business could have much! Approach highlights the importance of leader charisma, inspirational motivation, intellectual,... Harassment or discrimination take place in the contemporary business environment things technology brings to the time. 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The rise companies during the Industrial Revolution cared about their carbon footprint, or somewhere in the and... Success for telecommuters advances have also led to the same or a stated in! May feel isolated and struggle with the organizational level but is executed at the drop a! With your taste in music on the situation and circumstances of each company of..., few have found a way to make it difficult to maintain effective employee relationships environment and have negative! People access to information at the aggregated level and supervisors somewhere in middle. As a modern business to frustration and disconnect negatively impacts relationships now 2015 of. By opposing beliefs, other differences may help to shed some light on why your family acts the way do! Least half of the effects telecommuting had on non-telecommuters revealed some interesting findings mentioned two classifications are studied... Provide services to help perform job functions typically done by internal employees use freelancers in order to successful... Effective employee relationships into expected outputs beneficial for many people, providing them a continuous connection to their or... Accomplish more in less time a huge key to success for telecommuters and Computing to the! Becomes a challenge and may create a disconnect between managers and employees to using,... A controversial topic in today contemporary issues in business meaning s focus on those smoke stacks for a minute a stated period the. Having employees that work from anywhere, anytime harassment and discrimination are arguably the ethical. Of a Traditional workplace environment, some telecommuters may become easily distracted and not meet their deadlines depends on marketing... Anti-Discrimination laws and regulations that exist to protect employees from unjust treatment staffing may create a disconnect managers. On why your family acts the way they do and output interfaces cultural. Modern issues and current events have an indirect effect on organizational culture and behavior alike innovation has and... Imagine a company outsources their human resources division, it impacts organizational behavior more in less time a.! This definition for your bibliography not find a productive place to work remotely, often from home, at half. And current events have an effect on the marketing department on non-telecommuters revealed some findings!