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Essay / The managerial challenge within the framework of the operating cycle of organizations
Table of contentsIntroductionCompetition network and securityBig Data analysisCorporate social responsibilityConclusionReferences:IntroductionAn organization is carried out by various complex inter-company processes taking place simultaneously. Processes also evolve over time, which poses many problems within the organization. These business-to-business processes are a driver of economic evolution and constitute a crucial management challenge for individuals and companies involved in business. Management challenges are the bottlenecks that managers and administrators of an organization face when running the organization. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay (Abrahamsen, M., Håkansson, H., 2012) As it is known, management challenges are generally of 2 types. Internal, environmental and external. environmental challenges. Internal environmental challenges include challenges such as employee motivation, business process, supply chain management while external environmental challenges consist of challenges faced at the macro level by all competitors such as challenges political, environmental, legal, social, economic and technological (PESTEL). .Competition Network and SecurityThe world is globalized, which leads to increasing competition. The organization must analyze its performance not only financially but even technologically to meet customer demand. Thanks to advances in information technology (IT), it has been able to transform the capabilities of organizations and industries into competitive advantages. The issue of companies investing in information technology has received increasing attention in recent years. (Tang, C.-P., Huang, TC-K. & Wang, S.-T., 2018) With time, the organization grows and develops and therefore its effective operation is one of the most challenging crucial issues that managers face. Internet of Things (IOT) is the network of various devices within an organization, which leads to safe, secure and proper functioning by keeping all parts and people in the organization connected. Big Data Analytics According to Tan, KH (2018), companies generally use data analytics to accurately understand the changing environment, which will affect the company's competitive position and detection of new business opportunities. As cited in Ahmed et al (2017), the three main types of analytics, namely descriptive analytics, predictive analytics and prescriptive analytics. Descriptive analytics refers to what has already happened, predictive analytics to what is likely to happen next, and prescriptive analytics to what should be done to achieve more optimal solutions. Big data analytics has finally become the central element for differentiating organizations' skills, productivity and new business opportunities. Corporate Social Responsibility Organizations currently believe that “the customer is king”. It is important and positive that organizations begin to believe that they must give back to society, customers and the environment everything they have taken from the world. Austin, 2000; Pirsch et al., 2007; Varadarajan and Menon, 1998, classified corporate social responsibility (CSR) activities into three broad categories based on the strategic objectives of the company: philanthropic (a donor-recipient charitable nature), promotional (enhances relational exchanges, 12(3), 354-368.