Any modern-day trend, event, idea, or topic around a current subject that is relevant to people can be defined as a contemporary issue. Contemporary definition is - marked by characteristics of the present period : modern, current. Close your eyes and try to picture yourself walking around during the Industrial Revolution. New technology innovations have also made once time-consuming tasks much more efficient, allowing people to accomplish more in less time. 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. In addition, the telecommuter population has grown 11.7% over the last year, which is the largest yearly growth since 2008. To better understand how telecommuting impacts organizational behavior, let’s learn more about how it works. Enrich your vocabulary with the English Definition dictionary Although there are many differences between the three workplace generations we discussed, there are certain things that all three can agree on. Before we get started, it is important to define outsourcing. Imagine that it's 1985, and you're on a beach in Miami, Florida. If there is an uncertainty in the international market, regulations of environment, it affects the overall business. ... no one can tell how our well-meaning … Managing international teams can be a challenge and may create a disconnect between managers and employees. Let’s move on and discuss how telecommuting both challenges and improves organizational behavior. Contemporary Issues in Business 1050 Words | 4 Pages. Identify the reasons for china's rapid growth and briefly discuss the impact of growth on organisation. Humans tend to bias the analysis of situations based on their previous experiences and back-ground. 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 All three generations place a huge value on family. 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. Organizational behavior is constantly evolving. 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. Let's take a closer look at some of the contemporary challenges that organizations face tod… 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. Technology allows organizations to be in constant communication. Being self-motivated is a huge key to success for telecommuters. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. Perception: We know it’s “reality” yet we still don’t manage it well. Do you think their customers and local citizens would demand better environmental practices if they knew the impact of pollution? 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. 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. So, what do you think? It becomes more complicated to create a plan to reach the goal of sustainability. Definition (1): By the word 'contemporary' means belonging to the same period of time or of the present time. 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… First, the company needs to implement a company-wide goal to reduce paper usage. Volume 68 Volume 68, Number 1 (Winter 2004) The Administrative Law of the European Union More difficult still is the ability of an organization to follow-through and instill the plan within their culture. This becomes a challenge because organizations need to rethink how they will manage telecommuters. 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. Many would claim that technology makes life easier, allowing people access to information at the drop of a hat. 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. This is a controversial topic in today’s business world. Contemporary business and its environment also take into account a business’s micro and macro environment. It takes lots of time, energy, consistency, and motivation to successfully lessen an organization’s carbon footprint. If they cannot find a productive place to work, telecommuters may become easily distracted and not meet their deadlines. This has allowed outsourcing to become a more feasible business practice than in past decades. 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. While most organizations recognize the importance of going green, many are still struggling to successfully evolve their organization’s behavior to meet sustainability goals. | Meaning, pronunciation, translations and examples 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 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. Let’s focus on those smoke stacks for a minute. Freelancing is another form of outsourcing that is becoming more popular. First, non-telecommuters were frustrated with 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. While some differences may be caused by opposing beliefs, other differences may be something a little less obvious. It is obvious that telecommuting is changing the way employees interact with their peers and supervisors. Constant turnover or changes in staffing may create a challenging work environment and make it difficult to maintain effective employee relationships. One contemporary issue facing organizations today is telecommuting. This can have an impact on morale. Most importantly, they need to explain the plan for how to achieve this goal. Economic issues continually challenge businesses to adapt and change to meet current conditions. CONTEMPORARY ISSUES IN BUSINESS ETHICS, 6E also takes time to look at ethics from the unique perspectives of either employee or employer. Telecommuting allows people to work from anywhere, anytime. Synonym Discussion of contemporary. Modern businessmen can hardly underestimate the importance of business ethics in the contemporary business environment. Businesses and organizations also change just as frequently, and along with these changes are challenges. Or maybe you picture the outside of a factory, with smoke billowing out of smokestacks, evidence of the production occurring within the building. Probably nothing. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. The transformational leadership approach highlights the importance of leader charisma, inspirational motivation, intellectual stimulation, and individualized consideration as methods of influence. This new process may cost additional resources, time, and money. While many organizations are in agreement that sustainability is important, few have found a way to successfully implement sustainable practices. This report is based upon a critical evaluation of British Airways in response to a matter in contemporary issues in business. Unauthorized duplication, in whole or in part of content of this website is strictly prohibited. This has the potential to create a toxic work environment and have a negative impact on productivity. You may picture managers in early 1900s clothing, observing their employees from an observation deck as they work. This can be extremely beneficial in creating healthy working relationships and developing a stronger team. Understanding generational differences may help to shed some light on why your family acts the way they do. With all of the great things technology brings to the table, it also brings challenges. In addition, all three generations believe training and feedback is extremely important for a successful career. For starters, outsourcing can save companies a lot of money. Maybe you see an assembly line, quickly working a product down the row. Others, however, would disagree and argue that technology is detrimental to human interactions and negatively impacts relationships. It studies the business organization as an open and adaptive system within a macro-system. 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. Outsourcing is a hot button topic in America. People who telecommute are oftentimes self-motivated and efficient as they do not have the typical distractions of a traditional workplace environment. Do you think they even knew that their business could have a negative impact on our environment? 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. 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). Business cannot function in a vacuum. Multinational Corporation: Topic Company or enterprise operating in several countries, usually defined as one that has 25% or more of its … It possesses roots in a broader environment or society. You may have heard of modern terms like sustainability, going green, carbon footprint, or triple bottom line. This has the potential to lead to frustration and disconnect. Is outsourcing good or bad for an organization? Telecommuting can also save companies a lot of money by limiting the amount of office space and supplies needed to operate their business. What did conversations around the dinner table sound like? The Model Business Corporation Act At Sixty Volume 74, Number 2 (Spring 2011) ... Distributional Issues in Health Care. If outsourcing is considered such a taboo practice, then why do companies continue to outsource? So far, telecommuting sounds great! In theory, it sounds like a great idea, but what’s the best way to make it happen? Young, old, or somewhere in the middle, most people do not enjoy change. Since technology plays a prominent role in organizations, it impacts organizational behavior. One contemporary leadership trend, in particular, is transformational leadership. 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. 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. Since then, technology innovation has accelerated and now plays a huge role in day-to-day life. Change towards sustainability starts with the organizational level but is executed at the individual and group level. While there are a number of benefits to using freelancers, there are some challenges that accompany them. Contemporary approaches to leadership include transformational leadership, leader-member exchange, servant leadership, and authentic leadership. This is appealing to many people because it allows them to better balance their work and personal life. Changing an organization’s behavior to meet sustainability goals is not a quick and easy thing. The "contemporary" indicate the relation to the present and up-to-date trends in the sphere of management. 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. Imagine a company is trying to reduce their paper usage. 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. Harassment and discrimination are arguably the largest ethical issues that impact business owners today. Hiring too many freelancers (or outsourcing too many positions) can make uniformity extremely challenging. It’s easy to set a goal to become more sustainable. 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. There are, however, some key things organizations can do to help limit these issues. Examples of Contemporary Issues in the Marketing Field. Did You Know? Finally, another popular practice in today’s organizations is having employees that telecommute only part-time. If you want to fully understand this business and its environment, you can take the business organization as … You've decided to take a nap and when you awake, you realize that it's now 2015. Think about your most recent family gathering. As you can see, with forethought and a clearly defined and executed plan, telecommuting can be extremely beneficial to organizations. The organization accepts resource inputs like materials, men, money, machinery, and information, and transforms them into expected outputs. Since technology pl… Every business needs to be aware of the anti-discrimination laws and regulations that exist to protect employees from unjust treatment. 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. Your clothes are now considered vastly outdated, along with your taste in music. According to Global Workplace Analytics 2018 Telecommuting Trend Data, telecommuting numbers are on the rise. How do you adjust in just a matter of hours? Equal Employment Opportun… While it is important to understand the history of organizational behavior, it is equally important to understand how contemporary issues affect organizational behavior. The goal of minimizing paper usage would be a thing of the past. If they did, do you think they would care enough to change their practices? This business and its environment discuss a system’s concept. Modern issues and current events have an effect on organizational culture and behavior alike. The Industrial Revolution was just that, revolutionary. This in turn benefits the organization and ensures better employee retention. Learn more. I have chosen the definition of partnerships of 2008, guide to successful Corporate-NGO Partnerships. While companies may control the outsourcing process, they give up partial control by hiring a third party. 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. Were your grandparents there? Sometimes family reunions are accompanied by a lot of drama and differing opinions. Maybe your parents, nieces, or uncles? However, outsourcing, without a doubt, has an impact on a company’s organizational behavior. However, there are some challenges to managing telecommuters. Macroeconomics is a part of economic analysis that focuses on the understanding of economic issues at the aggregated level. — Starbucks Coffee (@Starbucks) July 9, 2018. It would need to become a part of the company’s culture through consistent training, purposeful discussions, and regular evaluations. If companies can hire employees to do the same job as their current employees but for a lower cost, why wouldn’t they? the-definition.com All Rights Reserved. A 2010 study of the effects telecommuting had on non-telecommuters revealed some interesting findings. Finally, change is hard. The follow-through of the plan is equally as important as the goal itself. More importantly, learning about generational differences may provide helpful insight into how your coworkers operate. Sustainability in regards to the environment includes reducing your carbon footprint and changing operations to be more environmentally friendly. “Perception is reality” has become … Sustainability is a balancing act. The appeal of increasing profit margins can oftentimes outweigh the value put on hiring American workers. Obviously the answer depends on the situation and circumstances of each company. Paper usage would need to become a common topic of conversation. Changes in society impact how organizations operate. Telecommuting is a work arrangement which allows employees to work remotely, often from home, while completing their tasks. 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 GEMI, and EDF. In the Definition (2): Contemporary business is also known as a modern business. Within seconds, people on opposites ends of the world can “meet” through emails, phone calls, video conferences, etc. Contemporary business is also known as a modern business. And, Contemporary business refers to the circumstances and ideas of the present time in a business environment. Keep in mind, these are generalizations and there are exceptions within each generation. Let’s break down each one and examine some similarities and differences! Outsourcing is the practice of hiring external assets to provide services to help perform job functions typically done by internal employees. The business organization functions with the environment with the help of input and output interfaces. Telecommuting has many benefits and also presents a number of challenges. Should harassment or discrimination take place in the workplace, the result could be catastrophic for your organization both financially and reputationally. See more. Let’s look at a simple example of how to implement sustainability. Keeping company standards and/or products consistent with high quality may prove to be difficult when there are too many cooks in the kitchen. It is the ability to successfully perform tasks in the present, while also doing what is necessary to protect the future. Outsourcing effects each level of influence within an organization differently. 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. For example, if a company outsources their human resources division, it may have an indirect effect on the marketing department. The paper usage example, in a nutshell, explains the complications of sustainability in today’s society. 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 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. Proper citation formating styles of this definition for your bibliography. Sometimes, there are special projects that require an outside perspective or expertise. Telecommuting also cuts back on daily interactions with other employees. Generational differences can include lifestyle differences, motivational differences, etc. 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. Then, the groups and individuals within the company need to change their daily behaviors to meet the goal. Some even grew to be envious towards the telecommuters’ working arrangement. This is solution of Contemporary Issues in Travel and Tourism Assignment given in UK College of Business and Computing. Do you think that companies during the Industrial Revolution cared about their carbon footprint? The Industrial Revolution was just that, revolutionary. They even are participating in strategies to address climate change issues. contemporary definition: 1. existing or happening now: 2. belonging to the same or a stated period in the past: 3. someone…. 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. There are three generations who are primarily active in today’s workforce; Baby Boomers, Generation X, and Generation Y—with Generation Z just beginning to enter the workforce. There are currently over 4.3 million employees that work from home, at least half of the time. The forces, actors, events, or players inherent in the mentioned two classifications are also studied. Without a doubt, technology has changed the face of modern society and the organizations within it. Along the way, readers also learn about such topics as ethical relativism, ethics and the law, virtue ethics, and ethical decision-making. However, regardless of your feelings or opinions towards outsourcing, one thing is certain: outsourcing impacts organizational behavior. Traditional Vs. © 2021 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. Let’s move on to learn about other contemporary issues in organizational behavior! First, let’s discuss the positive impact telecommuting has on organizational behavior. What do you see? Many would claim that technology makes life easier, allowing people access to information at the drop of a hat. ... art and cultural events, to cloud technology and business transformation. 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. It means that the person who is involved in contemporary management should be aware of the recent variations of the management … 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. Changing company procedures or practices used to be completed in house, but with outsourcing they now have a much lengthier modification process. Contemporary Organizational Structure. Since then, technology innovation has accelerated and now plays a huge role in day-to-day life. Telecommuters are often happier in their jobs and are therefore more motivated to perform on a higher level. 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. Contemporary Issues in Business Management. Organizational behavior needs to change on all three levels in order to be successful. By the word 'contemporary' means belonging to the same period of time or of the present time. In fact, in some cities, you can be within walking distance of 30 different Starbucks locations at once. Even company employees whose jobs are not directly impacted by outsourcing may be affected. In order to be successful, the three levels of influence must work together. Contemporary definition: Contemporary things are modern and relate to the present time. Instead, they need to rely on other electronic methods to ensure their team is meeting deadlines. 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. Now, what happens if no one reiterates the goal/plan? 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