Contemporary issues of management

Contemporary issue faced in 20th century by the management at glibal and domestics level. A brief case study. Management stdudents should know that how and what challenges or issues are faced by the managers all over the globe.

1. CONTEMPORARY ISSUES OF MANAGEMENT PRESENTED BY: AYUSH PRASAD GUIDED BY : MRS.VASUDA SHARMA MA’AM

2. CONTEMPORARY Emerging/in trend/Trending ISSUES Difficulties/Challenges

3. List of some of the major contemporary issues of Management: Change Management Ethics Customers satisfaction &Innovation Quality & Productivity Quality of work life Digitalization Work force Diversity Skepticism Retaining employees Environmental Issues

4. CHANGE MANAGEMENT DO OR DIE Deal with continues shifting. As we all know this an Era of rapid diversification & Technological advancement. Resistance to adopt the change from the employees’ side. It require proper training Drastic change in market condition

5. ETHICS ETHICS are rules and principles that define right & wrong conduct. Ethical conflicts/ dilemma are most common in industries. It has got a solid grip in recent years. Cases of corporate lying, misrepresentation, misinterpretation, financial manipulation have been widespread in recent years. Some of the examples are Harshad Mehta Scam, Satyam Scam etc. Hence, increased emphasis on ethics education in university and college curriculums.

6. Customer satisfaction & Innovation Delivering consistent high quality service A customer responsive organization need to be created. To cater the need and ensure satisfaction of the customers should be the main concern. Ensuring Continuous revaluation of products.

7. QUALITY & PRODUCTIVITY With the continuous process of production the manager should ensure of good quality products. Not only quality, the quantity aspect should also be taken into consideration i.e. productivity. Quality Control Techniques ( Solutions ) Inspection & testing Random sampling Quality control charts Past records and standards Statistical measures to quality control

8. Healthy work life Not only work and productivity of the individual should be taken into consideration. Instead a holistic development of the employee should be there. Now-a- days this aspect of managing is missing from most of the managers. Practicing it is the need of the hour. SOLUTIONS Flexible working hours. Focus on productivity rather than working hours Reviewing the workloads Give off times & breaks

9. WORKFORCE DIVERSITY Increasing heterogenicity in the workforce. It may be in terms of Gender, race, ethnicity or other characteristics. It is a global managerial issue There may be a challenge for manager to make organizations more accommodating to diverse groups of people. Smart mangers recognize diversity as an asset. (Why?)

10. SKEPTICISM Many a times due to lack of transparency the subordinates or team working under the management, rises questions. This happens when they feel distanced from the managers or are facing high social loafing. Hence it’s the duty of the manager to be crystal clear in his/her approach and hence accountable. ENVIRONMENTAL ISSUES/CSR Toxic waste management Growing environmental concern( now a judgmental criteria for people) Minimizing carbon footprint Political, Cultural, Economical environments(HOW?) WHY CSR activities?? Important for a manager?? (Discuss)

11. RETAINING EMPLOYEES It has been a major managerial problem now-a-days as employees are leaving the job/ organization of reasons such as: Lack of job satisfaction Lack of recognition Better alternatives ?? What more ?? Now the question arises: Why should an employee stay in an organization?? What a manager can do to retain valuable employees?? Hence these are some of the MAIN GLOBAL CONTEMPORARY ISSUES OF MANAGEMENT that managers all over the world face.