Essays on Management Concept in Contemporary Environment Case Study

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The paper "Management Concept in Contemporary Environment" is a perfect example of a case study on management. One sure way to make to have the organization compete favorably in the current business environment and create value for the company shareholders is to employ the most appropriate management approach which is focused and issue-based. This can be informed of the strategy that the business employs. In the current world of business, competition has come into play with the emergency of globalization. More than ever before, businesses are faced with both opportunities and challenges that must be exploited and managed.

Technology is also influencing the world market the same way (Schermerhorn et al 2011). This is because individuals can access information at any given time on a certain change and therefore engage a more suitable management approach in each and every situation. Further, with the existence of technology, the way businesses are interacting with the customers has changed and now numerous transactions can be done online without necessarily having the involved parties have any physical contact (Ackoff et al 2010). In addition, change in customer demands is also one other factor that is influencing the management styles in the contemporary business environment.

Many of those organizations that have failed to learn about these trends in the market, have had very time in realizing their goals and consequently decline in their level of performance or even collapse. One such company that has had the same experience in the recent past is Coles Retailer of Australia. Before the purchase of the company by Wesfarmers in 2007, the company was doing badly in terms of performance for over fifteen years.

However, once put under new management, the business has managed to recover and creating value for its shareholders. It’ s from this ground that this assessment is seeking to answer the relevance of management and its different concepts in the contemporary environment and this is in reference to Coles.

References

Ackoff, R. L., Addison H. J. and Gharajedaghi J. (2010). Systems Thinking for Curious Managers: With 40 New Management f-Laws. Triarchy Press Ltd.

Burrow, V. (July 3, 2007). A $22bn wins, but does it stack up? The Age. Retrieved December 20th, 2012, from http://www.theage.com.au/news/business/a-22bn-win-but-does-it-stack- up/2007/07/02/1183351124247.html

Coles. (2012). All about Coles 2011. Retrieved December 20th, 2012, from http://www.coles.com.au/portals/0/content/images/about-coles/sustaina bility/246974_Coles_CommunityReport_2011_A4L_KIND2_LR.pdf

Coles. (2012). Coles: About us. Retrieved December 20th, 2012, from http://www.coles.com.au/About-Coles.aspx

Condon, J. (2012), August 16). Supplier, customer relationships key to Coles' retail strategy. Retrieved December 20th, 2012, from http://beefcentral.com/p/news/article/2042

Greenblat, E & Hawthorne, M. (2011). Coles takes the battle to Woolies. Retrieved December 20th, 2012, from http://www.theage.com.au/business/coles-takes-the-battle-to-woolies- 20110211-1aqp8.html

Griffin, R. W. (2010). Management, 10th edition. South-Western College Pub.

Productivity Commission PC. (2011). Economic structure and performance of the Australian retail industry. Canberra, Australia: Productivity Commission. Retrieved December 20th, 2012, from http://www.pc.gov.au/__data/assets/pdf_file/0019/113761/retail- industry.pdf

Schermerhorn, J.R., Davidson, P., Poole, D., Simon, A., Woods, P. and Ling Chau, S. (2011) Management: Foundations and Applications Wiley 1st ed. 2011

Speedy, B. (2011), February 01). Coles strengthens sales growth against arch-rival Woolies. The Australian. Retrieved December 20th, 2012, from http://www.theaustralian.com.au/business/coles-strengthens-sales-growth-against-arch- rival-woolies/story-e6frg8zx-1225997695760

Wesfarmers Limited. (2009). Wesfarmers. In Coles Sustainability Report 2009. Retrieved December 20, 2012 from http://www.corporate- ir.net/Media_Files/IROL/14/144042/WES09-xxx%20Sustainability%20Report.pdf

Wesfarmers. (2012). Wesfarmers Annual Report 2012. Retrieved December 20th, 2012, from Wesfarmers: http://thomson.mobular.net/thomson/7/3319/4677/

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