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Introduction

Contemporary Business By Michael Duong DUO07419937 ________________ 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. We formed small groups and collected a variety of information in which we had to put into a portfolio. We had meetings in which we debated about issues occurring in businesses today and how it relates to what we are doing now. The topics that we looked into that affected businesses are; 1. Corporate Social Responsibility. 2. Technological Paradigm Shift. 3. Financial. 4. Legislations. 5. Environmental Issues. 6. Business Ethics. I will be discussing a bit about these topics but the main two topics I will discuss in more depth are environmental issues and technological paradigm shifts. Financial. Financial markets would be that of the stock market, bonds, commodities and the foreign exchange market. Financial markets allows people to buy and sell things such as stock and bonds more easily. It is also easier for agriculture and metals such as, oil, wheat sugar, coffee beans, and metals such as sliver gold, copper, aluminum etc. the reason why it is easier for buyers and sellers to exchange is because of the fact that they are placed in one place. At this current time the UK is in a recession although it is not as bad as a few years ago. ...read more.

Middle

I think this will appeal to people as it is being environmentally friendly so people who care a lot about the environment will be looking to make the step closer in building a healthy environment. Also as people see that companies such as Nissan are taking close look at global warming and seeing the effects of it, and are doing something to changing the way life is lived, by making improvements in helping keeping the environment safe. They are more likely to take a likely to the company as it is comply with the environmental legislations and care about the world, and not show that they are there for their own selfish needs and just to make money. So with companies such as Nissan deciding to be more environmentally friendly Technological Paradigm Shift. Technology is vital for most businesses and makes everything so much simpler and easier for people, technology improves businesses and makes run more efficiently. Technology is replacing normal manual workers, so instead of people doing the work they have machines to replace them, as it saves the business money in wages and salaries. With technology, it helps both the business and the workers at times. An example is with line production work where everything is put on a conveyor belt and as it goes down the production line machines are set with different tasks to help complete the products. ...read more.

Conclusion

To conclude I have learnt many things whilst attending the contemporary business sessions, I learnt to work well within a group in which I only knew one of the group members, at first things were a bit awkward as we didn?t know what to say to each other. But as the weeks went on we clicked well and then all the ideas started flowing out. As I group we discussed some topics that had effects on the business world and collected a variety of information in which we had to put into a portfolio. We had various meetings in which we debated about issues occurring within businesses today and how it relates to what we are doing now. Due to working in a group I have a great idea and understanding of the business world and how things affect it. I now see how something?s so small can have a huge affect on businesses. Looking back at the two topics that were discussed in details, technological and environmental I can see that they are both important and effect businesses in different ways. Technology affects businesses internally by that if they are not kept up to date with the latest advances they could start to trail behind leading market holders such as the way Nokia has. With environmental although they effect the companies internally but also external by that if they do not abide by the environmental legislations it will not necessarily affect them but it will affect the environment in a way as air pollution and wasting of raw materials and energy. ...read more.

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