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The term contemporary defines the same time period and contemporary business refers to the ideas and circumstances at present in the businesses. Therefore, it deals with the scenarios of modern business where an overall understanding of the subsystem functions in macro and microenvironment can be discussed effectively. Thus, the system concepts are discussed based on the business and the external, and internal environment. The major primary elements of organisational systems are evaluated using the business. It also takes into account the macro and microenvironment so the actors, forces, players and events are evaluated and studied in two classifications. It is not possible to conduct a business in a vacuum that consists of the roots in society and the environment. The different business entities have functions that facilitate the interface of output and input. It also accepts different resources for inputs such as workers, machinery, information and material, and transforms it into the output expected.
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Therefore, the course has been developed to ensure that the consumers develop significant knowledge regarding contemporary business theories and implement it into different practical situations. It also includes topics such as values, perception, sales and marketing, retention, investment, innovation and life balances. These concepts are essential for developing an effective operation for modern businesses, and the students are made aware of these concepts at a deeper level for better understanding of modern business operations.
The unit deals with the processes and functions within the business enterprise and the important factor for improving productivity. It also reviews the business dynamicsand the operating environment consisting of both external and internal factors affecting the market competition, and operations at the global level. It also provides a conceptual base for the managers for assessing and enhancing the performance at the strategic level in the case of business organisations using the integration of the functions in the core business, sound leadership and effective management of resources. It also deals with the contemporary issues in marketing where the different challenges faced by the businesses while communicating their marketing messages are also highlighted. Sharing economy is another concept that has been used by various businesses to improve organisational efficiency which uses peer-to-peer (P2P) based activity of gathering, providing and sharing the access of services and goods facilitated by different community platforms. The different modes of raising funds for businesses are also evaluated which includes various financial innovations such as crowdfunding, fintech applications and similar other innovations. Internet of things is another concept that has been included in a contemporary business course as it is one of the important parts of modern business. The internet has brought a revolution to the modern business where the online business presence and brand building has to hold significant importance for the companies.
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Therefore, the concept has been introduced to ensure that the student gathers significant knowledge and understanding of the way contemporary business is operated and managed. Innovation is another key aspect of modern business where continuous innovation is key to improving the operations in business. Similarly, entrepreneurship has been included in the course which deals with the requirements of starting a new business, and different tools required to ensure it.Location: Strayer University, United States
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The assessment consists of the functions and processes within the enterprise of the business, and the key factors for increasing the productivity of the business organisations. It examines the dynamics of the business and the operating environment that includes the internal and the external factors. It influences the competition in the markets along with the operations in the global market. A conceptual base has been provided for the managers for improving the investigating the performance based on the strategic aspects for business organisations using the functional integration in case of core businesses, effective resource management and efficient leadership. The contemporary issues in business and marketing have been dealt with where different challenges and issues faced by the organisations have been examined. It highlights the communication of the marketing strategies necessary for improving the performance of the business.
The concept of sharing economy will also be introduced in the assessment that facilitates improvement organisational efficiency that has used peer-to-peer base activities for sharing goods and service access, especially in the community platform. It helps the students in understanding the way sharing economy can be used to improve the performance of businesses. Funds can be raised by the businesses using different modes and these modes have been described effectively in the course code such as crowdfunding and fintech applications. Innovation and the internet of things have also been discussed in detail in the course code so that these concepts can be implemented in practical instances in the future.
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