Contemporary Management Malta Marketing Management Level 5

Main Body

1. Key Dynamics Forces Impacting Business And Society

Analysis of dynamic forces of organisation which can impact business and society is the foremost responsibility of Debenhams, as it helps the enterprise in serving consumer and employee satisfaction. According to (DesJardins and McCall, 2014), there are various changes of business world which are creating turbulence to organisational function like, managing innovation as per changing fashion trends, providing work life balance to employee in order to increase their working efficiency and also to implement practice of corporate social responsibility for managing safety and security of society and environment. In addition, globalisation is the issue which impact management of every department like it has increased merger and acquisition, mobility of capital, etc. Further, it is leading to increasing substitute of product at competitive pricing, employment of immigrants, strategic alliance of worldwide fashion retailers etc. These changes in business are hindered the business world and turning obstacle for growth and development of entity. However, changes in every factor is directly proportionate to management issue like. Increasing globalisation is encouraging competition which has increased the innovation management in order to maintain uniqueness of products and services. Thus, the key forces impacting Debenhams and society are as follows:

• Globalisation: As per the views of (Castellani, Narula and Walker, 2018), Globalisation has developed various growth and innovation opportunity for an enterprise, because it has removed the entry and exit barriers because of which the firm are easily approach towards increasing market share by offering their products at global level. However, it has become issue of business world and society because globalisation has increased immigrants due to which the firm is promoting diversity in enterprise. Due to recruitment of immigrants, the domestic employee of firm are getting unemployed which is becoming threat for society. Further, hiring people from diverse background is effective for innovation but on the other hand it is the source of increasing conflicts among workers. Apart from this, it has increased competition for the organisation at global scale.
• Innovation Management: According to the view of Greene, (2017) innovation is known as the combination of the management of innovation process and change management. It is related to the business process, product and organisation innovation. It leads to incorporate various tools which permit manager and engineers to collaborate with a shared understand of process and goals. Apart from this, with the use of innovation management tool the cited firm can easily find out and deploy the creative capabilities of the work force in respect to develop the firm continuously. Some common tool which are included in the innovation management are such as prototyping, brainstorming and product lifecycle management etc. There are some innovation management method is breakthrough, incremental and disruptive.
• Work Life Balance: For an individual it is essential to manage work life so that they can easily carry out their day to day activity. Greene, 2017 argued that due to increase in workload within the firm lead to make employees stressed out and it leads to make difficult for them to manage their work life. Author argued that, companies should focus in reducing the workload of employees and deliver them work according to the skills and knowledge. However, this factor leads to impact the business as well as society. It is because employees cannot work under stress and it also leads to hamper the quality of work.
• Corporate Social Responsibility: Corporate social responsibility can impact both the business and society as well. According to the view of Eizirik, (2017) CSR is known as the business imitative that can provide lots of benefits to the society and also develop a good reputation of the firm in market. CSR initiative lead to fall in three categories such as environment and economic, triple bottom line and social. Many times, companies do not CSR seriously which lead to affect environment as well the firm reputation. Gabriel, (2017) argued that, companies who initiative in keeping the environment pollution free can easily make good position in the market. Along with this society also gain many benefits such as providing charity to the orphans or education fund that help in providing education to poor people.

Hence, above mentioned are the factors that can directly and indirectly affect the firm and society. At the time of carrying put business it is essential for the cited company to focus on these factors before making any decision.

2. Description On The Evaluation In Relation To Debenhums

The activities are need to be proposed in order to determine the functioning of Debenhams. In this it can be said that it is one of the essential aspect to deal with the protection measure to environment. This is helpful in order to have increment in the harmony. According to the view of Flemming and et.al., (2017) one of the major effect on the operational functional of Debenhams by the use of corporate social responsibility is that to meet the needs and expectation of the stakeholders. In this way, decision making is need to be taken effective about the process of CSR. It is one of the effective force because it works as to improve the brand image of the enterprise. With the help of practices of CSR the firm is bale to have long termed of sustainability in the market. Being social responsible is one of the method which satisfies the customer to deal with the enterprise. Thus, Gabriel, (2017) states that it can be said that loyal customer are assets to the enterprise. In this firm is able to hire the new and skilled employees who will have the contribution in relation trio enhancing the profitability of business enterprise. It is helpful in order to create the dynamic, image in the market. In this way it can be said that customer always maintain the relation with that kind of firm which uses to be activities in order to manage the responsibility of being socially. Thus, it can be said that globalisation is having the large imp cat over the activities of the enterprise as it is encouraged the process of innovation. The strategic decision is need to be taken out so that firm can operate its function effectively. Due to the factor of globalisation there is large issue that it has number of the immigrants due to which there is large number of diversity in the enterprise. The one of the major effect of globalisation is that it is creating the issue in relation to enhancing the problem relates to unemployment. As per the view of Eizirik, (2017) It will become the major threat for society. This will also helpful in order to have innovative employees which will come up with the new ideas. Thus, the process of innovation can be increased. The main effect on the process of innovation management on the activities of Debenhams is that innovation will lead to have skilled employees as well technological development. In this term it can be said that capacity of the management is associated with the in order to perform the innovative performance on the better level. In this it can be said that the key contribution to the management is innovative performance is having the good decision making process. With the help of this manager are capable to take the decision in relation to resources, risk, culture, manufacturing process and quality assurance and the other kind of aspects in order to innovation and commercialization. In contrary to Berger, A., (2010) states that Effective innovation management will be helpful in order to take the effective decision making. The innovation will encourage the use of technology. In this each firm need to manage their work accordingly so that they are able to deal with the functioning of the firm. At the time of workload the employees' ned to perform their activities effectively. At the time of work load each activities is need to be manager effective so that strategic decision making is need to do so tat productivity can be generated. This will help to manage the key operational function of business enterprise.

Hence, it can be said that driving forces are related to each other and impact decision making process of company. The key factors which is leading to change of every function is globalisation, It is the factor which has increased level of competition due to which it has become important for the organisation to make innovation in services with read to global level competition. On the other hand, it is important fr the firm to develop strategic alliance with rivalries in order to attain competitive advantage. Apart from this, the changes leads to various internal fluctuation that increases workload therefore it is important for the fashion retailer to provide work life balance to workers which increasing their working efficiency and effectiveness.

3. Debenhams Responses To Key Dynamic Forces In The Contemporary Business World

Various dynamic forces will lay a very deep and significant impact on the operations of the cited fashion firm in a contemporary business world. This factor will impact the overall operations of the organisation that will lay a significant rise in its capability. Besides this, it will help in meeting its customers need and demands and come up with high quality and innovative services. Other than this, the assessment of this key factors will lay Debenhams to adopt innovative and advance measures and technologies to sustain in market. The response of the cited enterprise towards key dynamic forces is as follows:

• Globalisation: Debenhams will see through the better management of the operations that will help the enterprise to meet the requirements of their customers on a worldwide level and gain their trust and satisfaction level. Firm will adopt a good amount of measures that will involve the better increase in its production capacity (DesJardins and McCall, 2014). As the globalisation will lead the firm to cater the needs and demands of their customers that are located on global level, the enterprise has to make necessary alteration in it actions that will cause the firm to gain a sustainability. Effective management of these issue will cause the firm to expand its busines operations on a global level.
• Innovation Management: the firm will look after the conditions that will cause the organisation to taken in some innovative measures that will support a good quality services and products. With the passage of time, the need and demands of customers will change. Thus, in order to manage the operation's and fulfil these requirements, enterprise will take in consideration some innovative measures that will help in increase in operational capacities and meeting of the targeted goals. Other than this, the innovation management will help the firm to develop better and more effective products and service for their existing as well as potential customers.
• Work Life Balance: this is the issue that will be associated with the HR department of the organisation. At Debenhams, the management of firm has to look after the adoption of various operation that will lead to maintaining a balance and coordination between the business activities and the personal life of an employee in an organisation. A good management of professional and private life will lead to the better satisfaction level of the organisation and will increase the job satisfaction level of their work force. Other than this, it will increase the effectiveness and efficiency level of the organisation as well as its employee's (Berger, 2010).
• Corporate Social Responsibility: Nowadays the firm will look after the better handling of operation that will cause the cited fashion firm to adopt and follow innovative and efficient measures that will cause the firm to meet their social responsibilities. The following and fulfilment of CSR will help the business organisation to develop its brand image and gain a good customer satisfaction level. Beside this, it will support a good betterment of society and increase the satisfaction level of their customers.

In accordance, to dynamic forces impacting business world, Gainer, 2010 has stated about style of management which can be used by to manage organisational functions as per business and business environment. Carroll and Shabana, 2010, has discussed about corporate social responsibility is an effective change that can help the firm in establishing work practices in accordance to society and environment. CSR will help the enterprise in managing changes which will helps in establishing cost effectiveness in business functions. The changes will help in minimizing use of natural resources such as energy, water etc. Further, it will help in making optimum utilisation of resources. The globalisation comes up with increasing competition and need of innovation but on the other hand it can help cited organisation in increasing market share and consumer base.

4. Decision Making Tools To Address Drives Of Change

Decision making is critical process in which the ultimate responsibility of management is to ensure effective change management with regard to forces impacting business function. In accordance to analysis of dynamic forces impact business and business environment of fashion retailer, it is important for an enterprise to communicated with all key stakeholders before modifying functions. As per situation, the firm will implement the use of change management model with the help of 5 step of decision making. According to Du, Bhattacharya and Sen, 2010, it is important for the firm to identify changes at initial level for mitigating risk. However, to a dress changes, the organisation will first seek for advices from employees, shareholders, suppliers etc. This will assist the management in developing critical understanding over forces of changes. To reduce the impact of globalisation, the organisation will implement the use of equal practices and corporate social responsibility. Equal practices will help the firm in managing employees functioning regardless of any differences and on the other hand implementing social responsibility practices which will assist the business in formulating business plans according to changing practices due to globalisation. The decision of managing changes will be taken on the basis of consumer response of products and services. In this the enterprise will seek advise from stakeholders about the changes which needs to done. The communication with sales and marketing team will help the organisation in driving needs of change. Further, analysing employees performance will assist in determining impact of globalisation and recruitment of immigrants on business functions. Measuring return in quantified form is the best strategy which helps in determining contemporary needs of managing change. The modification is the process which helps the enterprise in managing stability and attaining competitive advantage. Decision making will be done by Debenhams by engaging stakeholders. Involving stakeholders in managing contemporary issue plays a vital role because these individual will assist determining the best technique to deal with challenges.

However, as per Okpara, and Idowu, 2013, there are various changes for which organisation will implement the use of Lewin change management model. The model assist the management in managing change instantly by freezing every activity form some time period. Therefore, the first stage of model is Freeze in which the enterprise will determine the need of change that is why it s necessary of make innovation, importance of providing work life balance, need of implementing corporate social responsibility etc. Developing understanding over the drivers of changes helps the management in deriving issued which can become turbulence to organisation growth and development. Further, is change stage in which the retailer will communicate the need of changes with stakeholders. In this the firm will also seek advise on and vies of people to manage changes like for innovation the management will target market and production team to determine choices which can helps in meeting requirement of global customer. Further, for managing impact of globalisation, the management will ensure the at employee are satisfied with changes. In this the focus of firm is to secure interest each and every workers to develop employee relations. Implementing corporate social responsibility is the beneficial practice therefore to modify programmes and policies according to this the entity will demonstrate benefits of managing changes for CSR. Apparently, Doppelt, 2017, has stead that this change stage of model is based on empowering action with interest of people. It is the step which helps the management in gaining trust of employees which helps in managing coordination and cooperation in business functions. Further, there is refreeze stage in changes are managed and locked. This refreeze secures documentation and agreement of all changes. On the basis refreeze stage the organisation plan training session in order to improve working efficiency of workers according to changes.

Theories To Deal With Contemporary Management Issues

According to Aguinis and Glavas, 2012, implementing use of theories helps the company the managing effective changes as per requirement. The firm can implement use of various motivation theories, styles of management, leadership and innovation to deal with the change of business world. Innovation is the change which is impacting consumer repose, lack of motivation is implementing working efficiency of employees and style of management impacts communication and work flow of organisation.

Maslow's And Hertzberg Theory Of Motivation

Debenhams is a fashion company designing and selling lifestyle utilities in UK. It is developed in many sectors and spread in wide range but due to globalisation employees are shifting and their opinions are clashing which disturbs the work environment in the company. So to make employees understand the importance of company's requirement, the company need to make the change in the living of employees working there.

Maslow's Theory Has 5 Levels Of Needs:

Psychological Needs

The fulfilment of basic need like food, water, shelter is the psychological need. So in organisation to make the workers feel active and healthy, a cafeteria should be there where some sort of food, snacks are available for the employees.

Safety Needs

This involves the job security for the employee must know what benefits are given to them what is the medical, retirement benefit provided to them. They must get good working environment with healthy ventilation. (Schein, 2016)

Social Need

A human is a social animal. So it is the basic need to be familiar to society. The person even has the need to be accepted by others so he interacts because he enjoys it. So the organisation should encourage social interaction within or outside the company. A team spirit must be developed to make the employees feel motivated.

Self Esteem

It is the need that is developed within the organisation by providing them various challenging jobs to complete. They can be awarded or praised for the work done. Encouraging employees participation will give them more c confidence and develop their self-esteem.

Self-Actualization

It is the stage where a person knows where he actually is and what he actually wants to be. The organisation just need to encourage employee, gives them training helps them to know themselves and their talent and rest at this stage they are happy enough.

Hertzberg Two Factor Theory

Hygiene Factors

According to (Cameron and Green,2015), these are the factors are essential at workplace for motivation. These are called the maintenance factors as they are created to avoid dissatisfaction. The organisation must includes, The salary structure of the employee must be appropriate. Company policies should be fair enough for the employees so that they must be flexible, comfortable doing their job. Their physical working conditions should be safe, well-maintained, hygienic, etc. They must be provided full security of job.

Motivational Factors

These factors are different from hygiene factors as they are motivators so they are called satisfiers. The organisation must motivate employees for giving the best performances. They include Recognition of the employees who perform well, Growth and promotions which contains opportunities to motivate employees. The employee must have responsibility of the work they are doing. The work they are doing should but meaningful, challenging to the employee who is doing it to get motivated. The company can organise some sort of competition within the staff to make them feel motivated. They can also arrange some sessions which help them increase their work levels and that benefits the productivity of organisation and help the employees get confidence in their work and make them take initiatives for some new challenges. Happy and motivates employees gives more productivity to organisation.

Conclusion

Contemporary issue of management and business plays a vital role in deriving changes of business sand business environment. There are numerous issue which impact business environment and society. The report summarized dynamic forces impacting business functions of Debenhams, multinational fashion retailer in UK. From the report it has been discovered that globalisation, innovation management, work life balance and corporate social responsibility which have increased the need of altering management functions in order stabilise enterprise and its operation as per increasing competition. Further, the report outlined the relationship between dynamic forces impacting business like globalisation has increased the need of promoting equality and diversity. Moreover, it has developed substitute because if which its is important for company to plan innovation in products as per global fashion trends. Besides, it evaluated decision making and change management process which can assist fashion retailer in managing with fluctuation of business work. It determined use of le-win change management model with the helps of which the firm can enable modification with proper concern of stakeholders. Thus, the report concluded with different theories of management ad motivation like Maslow and hertz berg which helps the organisation in implementing changes by protecting interest of stakeholders.

References

• DesJardins, J.R. and McCall, J.J., 2014. Contemporary issues in business ethics. Cengage Learning.
• Castellani, D., Narula, R. and Walker, J.T. eds., 2018. Contemporary Issues in International Business: Institutions, Strategy and Performance. Springer.
• Nica, E., Manole, C. and Potcovaru, A.M., 2016. Competition in the worldwide workplace: economic globalization and labor rights. Journal of Self-Governance and Management Economics. 4(3). pp.73-79.
• Berger, A., 2010. Contemporary Development in Business and Management.

You May Like These Samples:

Contemporary Business Environment

Consumer Behaviour

UPTO50%

Avail The Benefit Today!

To View this & another 50000+ Free Sample

Enter Email

Submit