Contemporary Management Issues (Essay Sample)

Contemporary Management Issues
Introduction
There are several obstacles that businesses confront in today's corporate world as a result of current management concerns. In today's business world, organizations are concerned about these issues. Management practices and thinking styles have contributed to this problem, as well as a wide range of other issues. An organization's response to a rapidly changing external environment will include a variety of strategies, such as ensuring that it is protected and making the most of opportunities. Identifying the transition driver that will most likely have an impact on the organization in the near future is thus a top priority. The organization employs a broad variety of methods to examine and study the elements that influence the procedures that are followed. P&O Ferries' current management challenges will be examined in the following research, as well as the dynamic elements that have an impact on P&O Ferries. This is a solid suggestion for P&O. P&O's management will benefit in the long term by acquiring an advantage over their rivals as a result of the identification.
The key dynamic forces impacting on business and society
The most important duty of a company is to dynamic forces, which may have an influence on both society and business, and which also assist organizations create a pleasant working environment for their customers and workers.. There have been a number of changes in the business sector as a consequence of P&O Ferries' merger and acquisition process, which has disrupted organizational tasks such as managing innovation. Additionally, globalization is the driving force behind the business environment's transformation. P&O Ferries and society as a whole are being transformed by the following key forces:
Changing social expectations-- P&O Ferries is no longer concerned with how much money it makes, but rather how it creates it in light of the increasing globalization of the world's population, improved economic conditions, and more education among modern society's citizens. Even if you have the goods, a lack of professionalism in your presentation may deter customers from doing business with you. Increasing emphasis is being paid to certain principles, such as ethics.
Globalization-- People from all over the globe are now more often interacting with one another as a result of globalization. For P&O Ferries to be accepted by a larger audience, they will need to broaden their viewpoint, according to this analysis. People from a broad variety of backgrounds, cultures and national origins work for the organization (Morris, 2013).
Innovation and technological advances-- The incorporation of modern technology and social improvements may either have a detrimental influence on P&O's operations or boost their potential, therefore allowing them to become a strong competitor in the highly evolved world of today. This can be observed in Europe and the United Kingdom, where people prefer to shop online than in-store (Underwood, 2016).
Business’s reaction to new regulations—
It's conceivable that the P&O Ferries may profit or suffer from changes in government policy. If P&O Ferries continues to operate at the aforementioned location, this has a wide range of consequences, including: Passengers could experience an increase in casualties if P&O Ferries is forced to halt operations or expenditures are passed on to them (Sparrow, 2022). (Sparrow, 2022).
A quickly shifting natural landscape—
It's probable that P&O Ferries has over-harvested resources in order to maximize earnings by using them to promote economic productivity. To avoid enterprises from being excessively exposed to the resource, the UK government may potentially create restrictions that limit their exposure.
Emphasis on ethical values—
The ethical treatment of passengers by P&O Ferries is growing increasingly essential around the world. As the world grows more and more international, people are obliged to conform to stronger moral rules in their relationships with customers, consumers, and employees.
Critically evaluating the relationship between such forces in terms of effective strategic decision making.
Many important strategic choices about the firm and the challenges it faces must be made by P&O Ferries. One must be able to put together the right resources for the right market at the right moment in order to make these kinds of decisions (Vasilescu, 2011).
P&O Ferries, like any other business, must make strategic choices in response to difficulties both inside and beyond the organization. These actions might have an impact on the future of P&O Ferries. P&O Ferries Company's field of work is always growing and getting more sophisticated, thus there must be a clear link between the numerous driving elements behind the changes that are taking place.
As a consequence of globalization, the globe has shrunk to the size of a town. To suit the demands of customers from all around the world, P&O Ferries offices across the world are extending their cross-border activities. Due to the fundamental transitional force, the global economy has also undergone significant transformations (Ristovska & Ristovska, 2014). It's becoming more important for travellers to have access to a variety of options. P&O Ferries provides rerouting services because of strong passenger demand. As a result, global GDP has grown, enhancing economic prosperity for all nations. With advances in technology allowing for a wider variety of potential future options, P&O Ferries is the opposite. Allowing innovative ideas to be incorporated into P&O Ferries's business practices. As a result, national economies throughout the world are seeing an uptick. Although P&O Ferries is down owing to global uncertainties, this does not bode well for economic growth throughout the world. It's difficult for businesses to function effectively if they have to frequently relocate (Arif & others, 2016). P&O Ferries must consider all of these factors when making strategic judgments before taking an innovative move to improve the present business climate.
The evaluation of an organisation’s responses to key dynamic forces in the contemporary business world.
A reaction to shifting societal norms —
P&O Ferries may find it easier to adapt to society's changing expectations than it would be to operate in the same manner as they have in the past. In order to respond to varied societal needs, P&O Ferries conducts assessments and then analyzes the outcomes. Evidence of this is shown in the fact that several professions' fees have increased in neighboring areas. Though the corporation may not have the financial means to convey its agenda at this time, it would be in the best interest of P&O Ferries if it raised prices to match those of its competitors.
The response to globalization—.
P&O Ferries might alter their hiring practices in response to globalization's consequences in order to hire more people from a wider range of ethnic and cultural backgrounds. As a result, this will ensure that the organization's image is in keeping with the times in which it operates. Aside from ensuring that P&O Ferries has a diverse workforce, it also helps to maintain fair hiring practices so that immigrants aren't given low-level positions, but are instead given the opportunity to rise through the ranks. There will be a varied mix of individuals from various backgrounds working for P&O Ferries because of this. Thus, P&O Ferries is better able to recruit individuals from various ethnic and cultural backgrounds on all its platforms going forward.
In response to the new rules--
It's important to note that P&O Ferries may choose from many different policy and regulatory approaches. These include reactions from the state, corporations, and the private sector. This is due to the fact that interested parties may hire members of Congress to advocate for the government to forsake specific policies. This is possible because of lobbying. Through a series of negotiations and threats, the government is compelled to keep companies open while taxing and regulating them at the same time. Businesses must also be successful in order to survive.
Nature's swift changes need a quick response--
It's possible that P&O Ferries would agree to take care of the resources in exchange for government fines and deregistration if it is determined that the dynamic environment must be safeguarded and P&O Ferries is forced to do so. If the government mandates that P&O Ferries comply, then this will be the case. Additional preparations are being made to dispose of trash created as a consequence of the company's usage of available resources in a way that does not harm the environment.
Adaptation to new technologies and innovation—
P&O Ferries must also keep abreast of the most recent technological and imaginative developments. The demise of "P&O Ferries" in the United Kingdom serves as a good illustration of this argument. Due to a lack of change in business strategy, P&O Ferries was unable to compete in today's global marketplace. An immediate result of this drop in customer traffic was the death of the company. This demonstrates that P&O Ferries must make an effort to keep pace with innovation, which is now the world's primary source of competitiveness.
In response to ethical principles —
It is because of your high ethical standards that a consumer chooses to do busin...