CONTEMPORARY ISSUES IN BUSINESS
In the modern era, there is a need for certainty in all the aspects. Business requires management as it involves people whose livelihoods depend on it and money on which the business depends. Bringing certainty requires a management capable of dealing with issues which the company can come across. For achieving this, we need to know about the issues that come across in a business environment to establish a sense of certainty. Modern business challenges is a comprehensive and continuously updating area of business management, but a very essential area for new managers. Contemporary issues mostly deal with globalization and the evolving aspects of multinational enterprises in a changing environment. (Murray & David Poole, 2006)
Gaining an insight about contemporary issues in business will be critical to managers and will provide a critical view on the contemporary challenges faced by business in a dynamic and increasingly risky business environment. It will also help in clarifying the dilemmas of contemporary management thinking. For gaining an expertise in business management, it is critical to gain awareness regarding contemporary issues. A research on the contemporary issues of business will also generate a detailed discussion on a conceptual level. The research data and conclusions that will be generated will be helpful in individuals studying and working in the field of Human Resources Management.
There are a number of contemporary challenges that human resources department specifically faces in enterprises.
Contemporary challenges arise in every department of an enterprise are different and the types of challenges that arise in the HR department have to be observed to know what problems does HRD face in the current business scenario. (Wong, 2011)
• To have an overall idea of the contemporary issues in the current business environment which is essential for facing challenges in the present business environment.
• To observe challenges in the business management paradigm.
• To understand the contemporary challenges in the HR department of organizations.
• To evaluate the challenges in a critical manner to possibly ascertain a trend in the challenges.
• To draw conclusions regarding the type of contemporary challenges that are present in the current business environment.
Conducting a research on the contemporary issues will require an extensive research on contemporary challenges faced by various types of organizations. This will require a majority of qualitative data regarding the subject as the issues have to observed and analyzed critically. A myriad of literature also has to be observed to observe what has already been concluded about the contemporary issues.
The area of research will be the Emirate of. Majority of big companies in UAE are companies from service sector like banking and telecom but there are also major real estate companies and companies that are involved in the petroleum industry. A brief insight over the challenges faced by the HR department in the companies of UAE will be crucial to HR managers and companies in UAE. It will also have an academic advantage for the students in UAE studying Business administration in UAE.
SAMPLE SIZE AND SAMPLING METHOD
The sample size of for the research will be calculated on the basis of number of employees in an organization. Employees working in UAE organizations have to be approached to gain an insight about the newer kind of challenges that are being faced by the companies. The aim will be to approach employees from different sectors of companies so that a challenges faced in multiple sectors can be observed and analyzed. The sampling method will be determined on the basis of the level of confidence in the confidence interval portrayed by the potential respondents of the survey. (Bryant, 2011)
DATA COLLECTION METHOD
The types of data used in the research are primary data and secondary data. The primary data will be generated from the interviews with the employees of the organizations from the HR department. The secondary data that is required for the research can be generated from journal articles, reports and articles from business magazines and websites which are available online. The aim will be find sources of data which are written not before 2005 so that only the new types of challenges that occur in businesses will be useful in the research.
DATA ANALYSIS METHODS
The types of research data which will be generated will be mostly of qualitative data and some quantitative data will also be will be generated. The quantitative data will be of the statistics about how many companies are facing contemporary challenges and also regarding which sector of companies are observed to have the most contemporary challenges. This will require a quantitative data analysis on the quantitative data in which average will be used. The qualitative data will be analyzed to observe what kind of contemporary challenges arise in the human resource departments of the enterprises. The research will also shine a light on the terminology aspects of the contemporary challenges in the HR departments of the companies.
Task Start Date Duration (Days) End Date
Starting the research 1st April 2 2nd April
Conducting secondary research 3rd April 3 5th April
Preparing questionnaire for research 6th April 2 7th April
Conducting survey 8th April 5 13th April
Analyzing survey results 14th April 3 17th April
Deducing results comparing with secondary data 18th April 2 19th April
Preparing final report 20th April 2 21st April
This timeline is based on approximate durations that would be necessary for each and every important aspect of the research. The important milestones in the research would be conducting the survey and analyzing the final results based on comparisons between secondary data and the survey results. The major challenge that could alter this timeline would be the delays in primary data collection through surveys. Thus, it can be presumed that this timeline would be subject to changes if any difficulty is faced in accomplishing any of the given tasks.
Bryant, A. (2011). Leading Issues in Business Research Methods. London: Ridgeway Press.
Murray, P., & David Poole, G. J. (2006). Contemporary Issues in Management and Organisational Behaviour. Sydney: Cengage Learning Australia.
Wong, K. (2011). Contemporary Management Issues (A Generic HRD model). IRACST – Engineering Science and Technology: An International Journal (ESTIJ), 73-82.