While many countries have taken steps to combat climate change, greenhouse gas emissions are still a major problem, particularly in developing countries. Business owners must plan for changes in customer tastes and preferences, as well as predict the future strength of existing and emerging industries and product categories.
When customers think a company is exhibiting an unwavering commitment to ethical business practices, a high level of trust can develop between the business and the people it seeks to serve.
Many developed economies still struggle, while emerging countries have seen credit increases, which could lead to further financial crises.
An ethical response to diversity begins with recruiting a diverse workforce, enforces equal opportunity in all training programs and is fulfilled when every employee is able to enjoy a respectful workplace environment that values their contributions.
Being on the cutting edge of a new marketing technology or methodology can help your business to stand out in the eyes of potential customers as well. Financing Financing, in the form of debt Contemporary business issues investment, is not as easy to come by as it was in the later years of the twentieth century.
Diversity Issues Your current and potential employees are a diverse pool of people who deserve to have their differences respected when they choose to work at your business.
Compliance and Governance Issues Businesses are expected to fully comply with environmental laws, federal and state safety regulations, fiscal and monetary reporting statutes and all applicable civil rights laws.
The historically stable middle class was particularly affected by the Great Recession, even in highly developed countries. Business owners must plan for changes in their industry, the marketplace, the macroeconomic environment and the legal environment.
Contemporary issues in business planning include an uncertain legal landscape, technological advancements and the changing face of the lending market.
Getting on board with emerging technologies early can give you a competitive edge over competitors as they struggle to adapt to new customer preferences stimulated by the new technology. Legal Issues The 21 century has already seen its fair share Contemporary business issues political and legal uncertainty, as issues in health care, consumer protection and intellectual property, to name a few, have given birth to new industries and put established industries under pressure to change or fade away.
Decision-Making Issues A useful method for exploring ethical dilemmas and identifying ethical courses of action includes collecting the facts, evaluating any alternative actions, making a decision, testing the decision for fairness and reflecting on the outcome.
This lapse in economic stability put greater attention on the financial disparity between the wealthy elite and the rest of society, particularly in the United States, which has seen income inequality grow steadily since the s. Savvy business owners keep abreast of new developments in technology, including anything from new production automation technology to new customer relationship management software.
Businesses have the responsibility to develop codes of conduct and ethics that every member of the organization must abide by and put into action. While many economies have made steps toward recovery, the World Economic Forum reported in that fiscal crises in key economies are still a significant risk.
Full Answer Financial crises across the world have had a significant impact on the global economy. Business planners must keep abreast of new developments in local, state and federal business law, anticipating legal changes and adapting their organizations early to gain a competitive advantage rather than facing a hindrance from new laws.
Climate change poses various threats to global stability, including water shortages, crop failures and hazardous weather. Ethical decision-making processes should center on protecting employee and customer rights, making sure all business operations are fair and just, protecting the common good, and making sure the individual values and beliefs of workers are protected.
Along with the global financial crisis, income inequality has become a more prominent issue since the start of the 21st century.
Technology Issues The world of technology has been a game-changer in business for the past 30 years, and this trend is likely to accelerate in the foreseeable future.
Thoroughly researching lenders and investors before contacting them, and custom-tailoring your business plan and correspondence to suit each potential funding source can help your business to stand out in the lending market.
Fundamental Issues The most fundamental or essential ethical issues that businesses must face are integrity and trust.
A basic understanding of integrity includes the idea of conducting your business affairs with honesty and a commitment to treating every customer fairly.CPA Contemporary Business Issues Get through your CPA studies with 2 full-length Practice Exams, Weekly Webinars and over 50 Video Tutorials.
Courses for Semester 2 will open on 12 June Contemporary Business By Michael Duong DUO _____ For this assignment I had to research certain contemporary issues that affect the business industry I attended various contemporary business sessions in which we discussed some topics that had effects on the business world.
A contemporary issue can be defined as any event, idea, opinion or topic in a given subject that is relevant to the present day.
Contemporary issues can be found in almost any matter of interest. For example, the University of Maryland considers abortion, affirmative action, terrorism, and racism as. The Journal of Contemporary Business Issues, Vol. 21 #2, Fall 3! authors incorporated Simonson et al’s guidelines for equivalency by having the two sections of the same course taught by the same instructor, during the same semester, using the same syllabus.
Jun 29, · In the complex global business environment of the 21st century, companies of every size face a multitude of ethical issues. Businesses have the responsibility to develop codes of conduct and. Examples of contemporary issues include economic crises, income inequality and climate change.
These problems affect the entire world and have become more pronounced since the beginning of the 21st century.
Financial crises across the world have had a significant impact on the global economy. The.Download