New Trends in Management Assignment Sample

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Introduction: Evaluating Sustainability Practices in Next plc for Success

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With the rise in the technology and the changes taking place in the external environment, there are many new trends coming place. All these trends need to be adapted by the companies as it will help them in managing the work better. The current study is based on sustainability as the new trend present in the management of the business. This is pertaining to the fact that within the external market currently, sustainability is much more focused. This is because of the reason that currently, consumers prefer sustainable products and services and a focus on environmental protection. The present study is based on Next plc which is a British multinational clothing brand and is headquartered in England. The present study will discuss the evaluation of the sustainability and related trends that need to be followed by the company in order to improve the working. Along with this, the company will not be working efficiently with respect to all the latest trends and changes taking place.

Contribution on Discussion Board

Week 1

With regards to the present week, it was evaluated that the management of the company needs to be very effective. This is pertaining to the fact that when the management of the company does not be good then it will be impacting the efficiency of the company and its operations. Thus, for this, it is necessary that Next plc must effectively comply with all the management structures so that there is clarity of work present for the employees (Abad-Segura and et.al, 2020). This is pertaining to the fact that when the effective structure is followed it will provide for better guidance to the employees for working efficiency. For compliance with effective sustainability, it is necessary for Next plc that they must effectively follow the appropriate management structure and the related principles. This is necessary as it will effectively guide the employees and will help them in improving their working efficiency.

Moreover, the week also highlighted the fact that effective compliance with AI which is artificial intelligence is very helpful for effective management of sustainability within the business. This is pertaining to the fact that AI provides many different types of services which can be used by the company for better compliance with sustainability (Bednar and Welch, 2020). In the current competitive and technologically advanced world, the use of AI is very prominent and this provides a base for effective working which improves the working efficiency to a great extent. AI is used within the business practice relating to supply chain tracking. This is very necessary because of the reason that when effective technology is used then it will result in effective services to the business. The reason underlying the fact is that the supply chain is beneficial for the success of the company.

In case the supply chain will not be effective then the production will not take place on time. Thus, the use of AI will improve the supply chain and as a result of this, the overall working will be improved and will be sustainable (Feroz, Zo and Chiravuri, 2021). Moreover, when AI is used by Next plc then the employees will be working efficiently and it will result in better attainment of the objectives of the company. This is pertaining to the fact that when the technology is followed then the efficiency of the employees is increased and as a result of this the overall working of the company is improved. Along with this, AI is the recent trend which is prevailing within the market and it is the utmost responsibility of the company they effectively comply with the latest technology. This is necessary the reason that in case the latest technology is not used then it will be affecting the efficiency of the business and the objectives will not be attained well.

Week 2

Another week included a discussion relating to management structure, partnership and collaboration. For the effective distribution of the working of the company, it is necessary that an appropriate structure is followed. This is because of the reason that the structure helps the company in dividing the work effectively among the employees. In case the work is not divided in a better manner then it impacts the working of the company to a great extent. There are different types of structures which companies can follow like hierarchical, flat or tall structures. In case the structure selected will be appropriate then it will help in improving the efficiency of the business. In the present case, for sustainable working practices, Next plc is focusing and complying with a hierarchical structure (Litvinenko, 2020). This is pertaining to the fact that it provides a clear structure for the direction to the employees and as a result of this, they make sustainable practices for attaining the objectives of the company. For the development of sustainable business practices, it is very necessary that proper guidance is provided. Thus, with the help of the hierarchical structure, the proper strategies are created as the direction flows from top to bottom and helps in the effective attainment of business objectives.

Along with this, the week also focused on working in collaboration and partnership effectively. This is pertaining to the fact that when the work is done in collaboration or partnership with others then it assists in improving the efficiency of the business. The reason underlying the fact is that when the partnership is done with the experts then it results in effective attainment of the business objectives (Ageron, Bentahar and Gunasekaran, 2020). Along with this, partnering with other professionals will help Next plc in improving its efficiency and sustainability. This is pertaining to the fact that when working is done with some experts it will result in more sustainable practices. The reason underlying the fact is that when the experts are collaborated with they provide better services and ultimately it makes the working practice more sustainable and effective.

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Hence, the focus on the sustainability of Next plc is increased with help of the effective compliance with partnering with other strong companies. For instance, the company partners with a company that undertakes the use of organic material and Next plc uses that material within production. Then as a result of this, the final products will be good, effective and sustainable. The consumer will like the products as they are of good quality and also not harm the environment. Thus, the sustainability will be improved by partnering with other good companies.

Week 3

The emotional intelligence is defined as the ability of the person to understand and manage the own emotions in order to work efficiently. While working within the corporate sector it is very necessary for the employees to have good emotional intelligence so that all the work of the company can be managed effectively. In case the emotional intelligence of the employees will be low then it will negatively impact working efficiency of the company. The reason underlying the fact is that when the person is not emotionally strong then it can impact the overall working of the company and the sustainability as well (Verma and Gustafsson, 2020). Thus, for Next plc to get the sustainably strong, it is very necessary that they must recruit the employees who are emotionally strong. This is particularly necessary because when the emotional intelligence of an employee is higher than they are in position to take effective rational decisions. These rational decisions will help Next plc in improving the sustainability of the company and the services being provided by the business.

In addition to this, the emotional quotient of the employees also helps in identifying and upgrading the awareness relating to the environmental changes taking place and trying to implement it within the working. This capability of the employee will help the Next plc and taking effective and genuine decisions relating to the services of the business (Bican and Brem, 2020). Ultimately when the company will be working in environmental friendly and in responsible manner then the waste will be avoided. Hence, when waste is avoided then it will ultimately improve the sustainability of the company and more consumers will be attracted towards the product and services provided. In additional to this having emotional intelligence within the person is very necessary for the management of next PLC. This is particularly crucial for the reason that it will improve the overall efficiency of the business and ultimately the competitive position will be improved (Impact of employees’ emotional intelligence on sustainable organizational development: Mediating role of organizational resilience,). When the competitive position will be improved them automatically all the practices of the business will be sustainable and provide benefit for a longer period of time.

Moreover the emotional intelligence is necessary for management and employee of the company as well. The reason underlying the fact is that when the management board will be highly intelligent and emotionally strong then automatically the overall working efficiency of the business will improve. Thus, it is very necessary for company to be highly intelligent and strong then automatically the overall working efficiency of the business will improve. Thus, it is very necessary for Next plc that they must effectively try to improve the emotional intelligence of the employees and other related stakeholders. This is necessary so that the overall working of the business can be improved and the working can be made sustainable.

Week 4

Further, this week majorly focused on the fact that in this highly competitive and digitally advanced world, technology is much more focused. The reason underlying the fact is that the current working environment is digitally advanced and in case it will not be focused then Next plc might become obsolete. Thus, for this, it is necessary for the company they comply with the latest digital business models prevailing within the market. In case, Next plc will not be complying with the latest technology models then it will negatively impact the working efficiency of the business and the sustainability as well (Tseng and et.al, 2021). Almost every working of the business is shifting to a digital platform whether it be marketing, supply chain, research and development or any other activity of the business. This is pertaining to the fact that in this highly competitive environment, the use of technology is very necessary. Within each department of the company, the use of technology is very necessary.

In case technology is not used then the business practices are not effective and are not liked by the consumers. Also, the consumer will think that the company is not effectively operating as they are not investing in the latest trends and the adoption of the new and latest technology (Lim, Zheng and Chen, 2020). Thus, to improve working efficiency and operating sustainability it is very necessary for Next plc that they comply with all the latest technology prevailing within the market. In case these different digital business models are not used and complied with by Next plc then it will be impacting the efficiency of the business to a great extent. With respect to the element of PESTLE, technology is the most important aspect of the business and its success. This is because of the reason that in case the technology will not be focused then it will negatively impact the performance of the company.

For this, it is the responsibility of Next plc they must continuously research the market so that all the latest changes can be analysed and adapted for the betterment of the business. There are many different types of technology like social media marketing, different supply chain management software, research and development technologies and many other technologies prevailing within the market. Hence, for Next plc complying with all these kinds of technology is very beneficial as it will provide for sustainable working. Thus, this sustainable practice will be helping Next plc in improving their efficiency and the working capability to a great extent and will attract majority of the consumers.

Reflection

With the help of the week I evaluated that sustainability is very necessary for the business to be followed. With the help of these be a lot that is sustainability is focusing on fulfilling current need along with saving for the future generation as well. For the effective working of the business it is very necessary that all the strategies are focused on sustainability. This is particularly necessary because the sustainable business practices ensure that the business is currently earning good amount of profit and is able to save for the future as well. With this I learnt that there is effective requirement of focusing on sustainability so that the company can get the competitive advantage (Gil-Gomez and et, al, 2020). This is particularly necessary because when the company practices will be sustainable than it will provide long term profitability to the company and will help in securing the competitive advantage as well. Already the competition within the external environment is intense and to survive profitably it is very necessary for the business to effectively follow the sustainable practices.

With the analysis of the week I learnt that focusing on technology during maintaining sustainability is very essential for the successful working of the business. This is particularly necessary because when the technology will be included with in the working then it will definitely provide a better base for working of the company (Pan and Zhang, 2021). This is particularly because of the reason that the technology guides the employee that how effectively they can work and earn more profit. Along with this I also learnt that being emotionally intelligent is also very necessary for the effective management of the strategies of the business. This is particularly necessary because when the employee will be emotionally strong then effective decisions will be taken and it will help the business in improving the overall efficiency. Along with this when the better decisions are taken then it results in better working and ultimately it will improve the efficiency of the business.

Moreover with this study I also learn that effective compliance with the entire latest trend is very necessary for the business. This is particularly because of the reason that the business exist in external environment and there are many different changes taking place within it. Thus, it is very necessary for the company to effectively comply with all these changes so that updated working can be ensured. Along with this when the company will not adapt to all these changes then it will be impacting the efficiency of the business. Thus, it is the responsibility of the company that they effectively analyse these changes and the latest trends and try to implement them within the business organisation. With regards to sustainability the use of technology is very necessary for the better implementation of Sustainable practices. This is particularly because of the reason that in every department of the company the technology is used. In case they will not be complied with the latest technology then it will result in the lower performance of the company. This is particularly because of the reason that the competition is intense and for securing a good position it is necessary that all the latest trends are followed.

Along with sustainability, other trend which is prevailing within the market includes the use of latest technology, focus on environment protection and many other different Trends. For Next plc to get successful it is very necessary that they comply with each and every trend (Bednar and Welch, 2020). Along with this it is the responsibility of the company that they continuously research with in the market so that all the latest changes can be analysed and implemented within the better working of the company. Ultimately it can be stated that it is the responsibility of the company that they continuously research within the market and try to analyse the latest changes so that it can be implemented within the business and can get successful.

Conclusion

In the end, it is concluded that implementing the latest trends within the management is very necessary for the success of the business. This is particularly because of the reason that when the current trends are not followed by the company then customers might not get attracted towards the business. Furthermore, the study concluded that sustainability is a major trend which needs to be followed within the current competitive environment. This is particularly because of the reason that sustainability is a major concern with the customers currently. Hence, in case the services provided by the company will be sustainable and effective than it will attract the customers to a great extent. Different things related to sustainability within business includes implementation of AI, emotional intelligence, digital business model and many other different aspects

Refrences

Books and Journals

• Abad-Segura, E., González-Zamar, M.D., Infante-Moro, J.C. and Ruipérez García, G., 2020. Sustainable management of digital transformation in higher education: Global research trends. Sustainability, 12(5), p.2107.
• Ageron, B., Bentahar, O. and Gunasekaran, A., 2020, July. Digital supply chain: challenges and future directions. In Supply Chain Forum: An International Journal (Vol. 21, No. 3, pp. 133-138). Taylor & Francis.
• Bednar, P.M. and Welch, C., 2020. Socio-technical perspectives on smart working: Creating meaningful and sustainable systems. Information Systems Frontiers, 22(2), pp.281-298.
• Bican, P.M. and Brem, A., 2020. Digital business model, digital transformation, digital entrepreneurship: Is there a sustainable “digital”?. Sustainability, 12(13), p.5239.
• Feroz, A.K., Zo, H. and Chiravuri, A., 2021. Digital transformation and environmental sustainability: A review and research agenda. Sustainability, 13(3), p.1530.
• Gil-Gomez, H., Guerola-Navarro, V., Oltra-Badenes, R. and Lozano-Quilis, J.A., 2020. Customer relationship management: digital transformation and sustainable business model innovation. Economic research-Ekonomska istraživanja, 33(1), pp.2733-2750.
• Lim, K.Y.H., Zheng, P. and Chen, C.H., 2020. A state-of-the-art survey of Digital Twin: techniques, engineering product lifecycle management and business innovation perspectives. Journal of Intelligent Manufacturing, 31, pp.1313-1337.
• Litvinenko, V.S., 2020. Digital economy as a factor in the technological development of the mineral sector. Natural Resources Research, 29(3), pp.1521-1541.
• Pan, Y. and Zhang, L., 2021. Roles of artificial intelligence in construction engineering and management: A critical review and future trends. Automation in Construction, 122, p.103517.
• Tseng, M.L., Tran, T.P.T., Ha, H.M., Bui, T.D. and Lim, M.K., 2021. Sustainable industrial and operation engineering trends and challenges Toward Industry 4.0: A data driven analysis. Journal of Industrial and Production Engineering, 38(8), pp.581-598.
• Verma, S. and Gustafsson, A., 2020. Investigating the emerging COVID-19 research trends in the field of business and management: A bibliometric analysis approach. Journal of business research, 118, pp.253-261.

Online

• Impact of employees’ emotional intelligence on sustainable organizational development: Mediating role of organizational resilience. 2023. [Online]. Available through: < https://www.proquest.com/openview/e742cddfba02b2bc80882c9ce2365c8a/1?pq-origsite=gscholar&cbl=46967 >