The Trends Shaping Work and Working Lives - Assignment Example

INDIVIDUAL PORTFOLIO By Name Course Instructor Institution City/State Date 1) Mini Task 1: Globalisation Debate Globalisation Debate Pro Con Implications in developed and developing Globalisation is beneficial because it is enables things to move closer, distances to become shorter, and shrinks the world (Al-Rodhan & Stoudmann, 2006). It involves the growing ease through which people can mutually benefit from interacting with people from different sides of the world. Globalisation integrates different societies as well as economies more closely (Irani & Noruzi1, 2011). It has facilitated the trade of goods and services across the globe. Travelling between countries has become very frequent, resulting in increased exchange of ideologies as well as ideas. Therefore, culture and ideas are much more homogeneous across the world than ever before, and scores of cultures have meshed and melded. Proponents of Globalisation argue that the internet has largely resulted in Globalisation, given that people can communicate instantly with people from different parts of the world. Without a doubt, Globalisation has a positive side; for instance, it has created jobs by making firms to become more competitive. As a result, the product prices for the consumers have been reduced. Proponents of Globalisation argue that it brings technologies and capital to impoverished nations. In addition, globalisation has increased decisions which have been made on the international level, leading to a merger of decisions and politics which benefit every person across the globe. Thanks to Globalisation, there is cultural intermingling which has led to a greater acceptance of others and equality, particularly since diverse persons can now share similar financial interests. Advocates of Globalisation maintain that it can solve various deep-rooted problems such as poverty as well as unemployment; thus, making the world a better place for everyone. Another argument for Globalisation is that it promotes economic growth at the global level; it has made it possible for the companies as well as consumers to gain access to products from different economies. Globalization can reduce the environmental integrity given that polluting companies from developed countries exploit the weak regulatory rules in the developing countries. Globalizations have increased skilled and non-skilled jobs from developing countries to developed economies as big companies are looking for cheap labour. Opponents of Globalisation as cited by Thompson (2010) argue that Globalisation has promoted unfair working conditions (which includes poor working and living conditions and child labour), social injustice, disregard for the environment, ecological damage, and natural resources’ mismanagement. They further maintain that multinational companies that were restricted previously to commercial activities are now influencing political decisions. Many people believe that corporations are inclined to rule the world since they have gained power because of Globalisation (Thompson, 2010). People opposing Globalisation argue that it enables the rich companies to become less accountable. In addition, they argue that Americanisation is overpowering individual cultures of countries. Globalization put forth threat to mass media given that big companies are controlling what is being communicated to people and could lead limit the cultural expressions. . Social safety nets or welfare schemes in the developing countries are under immense pressure due to deficits as well as other economic consequence of Globalisation (Collins, 2010). The so-called multilateral organisations such as World Bank, IMF as well as World Trade Organisation have enabled the less developed economies to improve their situations (Williamson, 2002). Thanks to Globalisation, developing countries can be bailed out by IMF whenever they get into financial difficulties. In case, the IMF together with the World Bank, are close down, the resources flow to developing countries could lessen, leaving these countries more badly than the current status. Globalisation has enabled the developing countries to improve their economies and improve problems associated with poverty. Globalisation has encouraged the developing countries to perform market reforms as well as radical changes by taking large loans. Globalisation has enabled the developing countries to free up their economies as well as open their markets through the removal of tariffs. Globalisation has also improved the education and health systems in the developing economies. Thanks to Globalisation, organisations such as World Health Organisation (WHO), Non-governmental Organisation (NGO), as well as UNESCO has helped eliminate deadly diseases and illiteracy in the developing countries. Globalisation has resulted in the disappearing of numerous expressions and words from local language since scores of people are using French and English (Hamdi, 2013). Many governments in the Latin America have rapidly liberalised imports as compared to other regions (Watkins, 2002). In the developed countries, Globalisation coerces businesses to become accustomed to different strategies according to the novel ideological tendency trying to balance interests and rights of people and the society in general (Kluyver, 2010). In addition, companies from developed countries are reducing risks through diversification. Reflection:- I have learned that globalisation itself is a dynamic and continuous process which has facilitated trade between countries and defines individuals’ economic behaviour at the international level. There are many studies about Globalisation; therefore, it became easier for me to analyse it from different aspects. However, it was challenging to determine how Still, I determined that globalisation is the most effective way through which developing countries could realise far-reaching development since it is the only way of main these countries to progress economically. I have also been able to present arguments for and against Globalisation in terms of political influences, technological developments, economic processes, health systems, and so forth. Next time I would try to determine how Globalisation promotes free trade amongst the countries considering that there are negative consequences associated with it, especially in countries trying to save their national markets. This assignment has enabled me to understand some important factors associated with Globalisation, such as the globalised marketplace, which I can take into consideration in the future when I start a business. This assignment has offered me the ability to discern opportunities brought forth by Globalisation in the business world. I have identifies the need to develop my abstract thinking so as to be able to think about ideas and principles that are not present physically. The experience will enable me to overcome mobility barriers in the future since processes of globalisation make it possible for a person to look for a job or start a business in any country across the globe. 2) Mini Task 2: Airline Industry Case Study:-Conduct a PESTLE analysis for the airline industry, focussing on Middle East. a) A PESTLE Analysis for the Airline Industry A) PESTLE Analysis For The Airline Industry Political The Arab Spring and the related political turmoil affected the industry to some extent. Some have admitted some lost traffic and revenue, but at the margin only. There is political stability in some countries such as UAE, Qatar and Kuwait. The industry could be affected enormously in case of political change considering that airline industry is naturally sensitive. Most countries in Middle East, especially Egypt, Syria, Lebanon, Iraq, and Bahrain are facing political instability. The Sykes-Pico agreement has essentially shaped the modern Middle East borders and is considered to be the source of instability in the region (Bremmer, 2016). The Syrian war and ISIL terrorism pose serious challenge to airline industry. Economic The Middle East economic condition affects the airline’s service delivery, the demand forecast and capital availability. Most of Middle East countries are economically stable, and are hardly affected by economic challenges or aviation downturn. Still, the slump in oil prices leaves Middle East economies at the crossroads. The recent oil price collapse has been marred with ambiguity regarding its recovery as well as the demand dynamics going forward (Sfakianakis, 2016). The Middle East countries have been coerced to hasten structural reforms in order for their economies to be diversified away from hydrocarbons. The on-going conflict in Syria and nuclear conflict between Iran and the United States could reduce economic growth in such countries and there is possibility of adverse spill over to other countries in Middle East. As mentioned by IMF (2015), there are a lot of risks to the banking systems; therefore, pockets of weakness could exist in other industries such as Airline and manufacturing. Social/socio-cultural The airlines crew must understand the cultural values of the passengers since Middle East has diverse people from different cultural backgrounds. Given that the majority of people in Middle East are Muslims, their values must be respected (Caldarola, 1992). The Majority ethnic group in Middle East is the Arabs Most important, a person’s behaviour has to generate a good impression on others. Islam is the dominant religion in Middle East, save for Palestinian and Israel areas (Kilmarx& Alexander, 2013). In this culture, family background as well as social class defines personal status. Technological Technology advancement is well recognised and widely utilised by the airlines in Middle East. The airlines are relying on technology in order to meet the competitive advantage. The majority of new aircraft introduced by Airbus as well as Boeing enables the passengers to utilise entertainment facilities (Bellamy III, 2015). Increased competition in Middle East, according to Get Connected (2017), has compelled airlines to invest aggressively in advanced in-flight connectivity technologies. Legal The majority of countries in Middle East are operating under paternal policy. The majority of government policies are protecting airlines from environmental and political factors. The government regulations and policies enable the airlines to become more cautious in both local as well as international dealings. The airlines’ operations and actions are normally legal and enable the customers to enjoy secure as well as safe flight. Environmental Climate change is directly affecting the airline service credibility; therefore, airlines have been forced to follow strategies that offer a good image. For that reason, numerous Middle East airlines such as Emirates have introduced sustainable blankets manufactured from recycled plastic bottles (Talib, 2017). The utilisation of eco-friendly devices has enabled airlines to examine different actions to reduce carbon footprint. Some countries like Jordan are facing various environmental issues like desertification as well as deforestation (Ham, 2009). b) The Opportunities and Threats for Airline Companies Wishing to Operate in Middle East. Opportunities Air transport market deregulation Airlines associated with major oil producing countries There is opportunity that the Middle East will stop depending on oil as the main funding source, and start relying on other sources. There is huge growth opportunity for the airlines in other developing countries. The airline market is expanding There is emergence of new consumer groups as well as budget travelling segments; thus, leading to increased demand of services in the airline sector. Threats Instability in a number of countries in Middle East such as Syria and Iran The oil prices are continuously changing; thus, the profit margins of the airlines can be affected. Terrorism has become a plague in Middle East, and airlines have become possible targets. Increased competition for other multinational airlines Strict government interventions. New direct air services between Europe and Asia pose a serious threat to Middle East airlines (ARC, 2011). Reflective report:- From this assignment, I have learned that PESTLE analysis can enable companies to identify different external factors that could influence the business. It enables the managers to examine the risks that could influence business operations. On the other hand, SWOT analysis enables managers to find new opportunities and examine possible threats. Use of online articles and e-books allowed me to handle the task without problems, but the available evidence is very little; thus, creating a need for further research. Yes, because I managed to develop an understanding how PESTLE analysis is valuable for all business organisations in examining and understanding the environment’s ground realities where they are operating. Next time I will make sure that I examine what happens when an organisation does not consider any one of PESTLE factors in order to determine if it would collapse or continue operating properly. When I get employed in the future, I will discuss with my employers the importance of conducting PESTLE and SWOT analysis. I need to learn how to utilise PESTLE and SWOT analysis to strategize how to achieve competitive advantage and reduce errors which could cause a performance-expectation gap. In future, I will Utilise SWOT and PESTLE to improve the position of the company in the market. Portfolio Part B - CIPD Megatrends:- Three Main Megatrends Highlighted In the CIPD Megatrends Report Introduction This section focuses on three main Megatrends highlighted in the CIPD Megatrends Report. The first megatrend is Technological change and globalisation, whereby information technologies sophistication has facilitated immediate communication amongst the widespread operations of a multinational company. Both technology and globalisation have generated and allowed for improved interdependence amongst companies and countries. Demographic changes are another megatrend and it has been projected that the future labour market will have more aged employees and fewer young people. Therefore, migration will become a viable solution to fill the gap left behind by older workers. Increased female labour market participation is another megatrend considering that female participation in the labour market has been growing leading to increased labour supply. Technological change and globalisation According to CIPD (2013), it has become exceedingly challenging to measure changes in the utilisation of ICT by individuals or organisations over long duration since innovative technology has recently become common and has consequently been substituted by other improved or advanced technologies. Still, ICT is currently ubiquitous in the business world: more than 94%, 93%, and 81% of businesses in 2011 were connected to internet, broadband connection, and website, respectively. CIPD (2013) posit that change in technology has reduced costs of exchange, communication and transport; therefore, it is one of the factors driving. In addition, ICT has changed business models in a number of industries; uncover new communications channels; and has generated new jobs and new services. Thanks to technology change and globalisation, work are now outsourced overseas and the labour markets have become more and more international. As mentioned by Harrilal (2016), technological change effects on the globalised economic structure have led to the creation of vast transformations in a manner that countries and companies can organise invest capital, trade goods, production, as well as develop new processes and products. Furthermore, information technologies sophistication has allowed for immediate communication amongst the widespread operations of a multinational company. Both technology and globalisation have generated and allowed for improved interdependence amongst companies and countries. The increased innovation rate and the technology flows’ dynamics demonstrate that comparative advantage is short-term. Returns can be maximised through arrangements like shared production agreements as well as transnational mergers. This enables both the developing and developed economies to efficiently harness technology with the aim of creating higher living standards to everyone involved. Demographic change The United Kingdom together with some other countries, according to CIPD (2013), has started experiencing the challenge of population ageing. That is to say, the population’s mean age has increased and its proportion amongst the older people has risen. As a result, the workforce has started ageing. As mentioned by CIPD (2013), demography is one of the factors that have led to change in age structure. Besides that, higher education participation has increased tremendously, but this explains fairly why a smaller number of young people have been employed. It is projected that the future labour market will have more aged employees and fewer young people. Therefore, employers will start focusing on retain skilled workers as well as re-training its employees. As indicated by Lanzieri (2013) a number of countries in the world across the globe are already experiencing increased life expectancy and below-replacement fertility levels. This is consequently changing the age profile shape from the renowned as well as the conventional model, whereby the younger population are at the bottom and the elderly take a larger percentage. According to Lanzieri (2013), national policies would in the future be addressed to ensure favourable fertility conditions, but migration will be a rapid and convenient solution to workforce shortages. Given that migrants are normally younger as compared to the native, they will make an enormous contribution to the future workplace. Harper (2016) concurs that migrant workers would in the future fill the increasing gap in unskilled employment and also demand for highly skilled workers. Migration would not only fill the increasing demand for labour but would increase the number of potential taxpayers (Dustmann & Frattini, 2014). Increased female labour market participation As mentioned by CIPD (2013), the role played by women in the labour market will continue changing considering that a century ago it was mandatory for women to quit their jobs after getting married. However, this started changing during the First World War as women started doing men jobs because men were busy fighting for their country. The position of women in the place of work has been supported through legal moves; for instance, “Discrimination and Equal Pay Act” and other legal steps have been made to improve parental leave as well as maternity rights. Still, women participation in some countries such as Greece, Croatia, and Poland is low despite the fact that these countries are experiencing severe demographic ageing (European Commission, 2016). According to Lim (1996), women have started joining the labour force in high numbers, and more importantly, they remain in the workforce all through their child bearing and rearing years. Women are no longer considered as a secondary or reserve labour force. In the future, it is projected that women will take the regular or core jobs currently held by men and other well-remunerated positions. Pettinger (2016) asserts that the growing female participation in the labour market would result into increased labour supply, and theoretically, could result in lower wages. The Implications and Challenges of These Trends for Companies In Terms Of the Human Resources Management Both technology and Globalisation have enormously influenced how companies are managing their employees. For instance, globalisation has companies’ to recruit skilled employees from diverse social backgrounds, languages and cultures. The majority of HR managers are hiring workers from equally diverse backgrounds. Furthermore, companies have realised that having diversified workforce make it easier to relate to customers from different backgrounds. Besides that, globalisation facilitates professional development, which is an aspect of offering employees opportunities to realise their career-related goals. Basically, professional development is crucial to Globalisation since it makes the workers feel as though the organisation is concerned with providing a range of skills and competencies for their employee desired by their employers and also allow the organisation to gain from the added connections and skills acquired by employees participating in professional development programs. Technology and globalisation have also improved emphasis on employee training, which consequently offers a competitive edge in the market. According to Friedman (2007), Globalisation improves the mix of perspectives, languages, cultures, and the number of expatriates. This creates the need for HR managers to create influence skills, HR content expertise, business knowledge, as well as personal credibility. Such skills have become more noticeable in multinational companies. The HR managers must treat female workers with special care and need to work effectively and freely since they are sensitive and they are affected by working environment and working conditions. According to Nadeem et al. (2015), female workers need special HR organisational policies since respect of females, sexual harassment, and maternity leaves are some of the issues that affect female workers. If companies offer flexible working hours, comfortable working conditions, and stress-free environment, the female employees ‘productivity is inclined to increase. Without a doubt, it is the company’s responsibility to work for the employees’ welfare and female employees as part of the organisation should be offered suitable working condition to improve their performance. In addition, a multicultural and cross-cultural workforce has become crucial for multinational companies. As mentioned by Miryala and Aluvala (2015), education is a key factor that enables women to earn more in the modern workplace. Still, HR managers should know that women hardly speak out when unhappy or overwhelmed with a working situation. It is the duty of HR managers, to make sure need all employees are happy with their job and work environment. In so doing, it could result in high retention of female workers and lower turnover. With regard to demographic changes, labour forces have turned out to be more and more diverse, and therefore, organisations have been coerced to make major changes in the approach they utilise to manage human resources. Demographics are constantly changing and this present enormous problem for HR managers while trying to recruit, manage as well as retain a completely new generation of employees (Michael Bailey Associates, 2014). Ageing populations are high in the developed world since people are living healthier lives; therefore, they will enormously influence future HR organisations. According to Bossaert et al. (2012), even if the working life is extended, it would be challenging to ensure well-being, motivation and productivity in employment until retirement. HR managers should introduce additional incentives like offering job rotation possibilities, extending career paths, changing job assignments, and stress prevention. Using HRM approach that is age sensitive can lead to increased productivity and motivation amongst the older workers, lower absenteeism rates as well as improved job satisfaction. As indicated by Angerstorfer (2015), companies can only win the war for talents by managing different requests of every generation. Conclusion In conclusion, this section has focused on three main Megatrends highlighted in the CIPD Megatrends Report. It has been demonstrated that technological change and globalisation would lead to information technologies sophistication which consequently facilitate immediate communication. Demographic changes are demonstrates that the future labour market will have more aged employees and fewer young people; therefore, migration should be considered as viable solution to fill the gap left behind by older workers. Utilising HRM approach that is age sensitive can resulted in increased productivity and motivation amongst the older workers. HR managers should know that women hardly speak out when unhappy or overwhelmed with a working situation. References Al-Rodhan, N.R.F. & Stoudmann, G., 2006. Definitions of Globalisation: A Comprehensive Overview and a Proposed Definition. Research Paper. Geneva: Geneva Centre for Security Policy (GCSP). Angerstorfer, F., 2015. Demographic Change and Human Resource Management: Case Finland. Bachelor’s Thesis. Turku. ARC, 2011. 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