(Yewande) (Choice of organisation and contemporary issues) The impact of Covid 19 on retail clothing stores without online service – a case of Marks and Spencer. Please follow learning outcome,...

MODERN DAY MANAGEMENT AND LEADERSHIP
Table of Contents
Introduction    3
Contemporary Business Management and Leadership Issues    3
Uncertainties of Future    3
Financial Impact on Business    3
Tackling Changes    3
Communication and Interaction    3
Employee Safety and Hygiene    4
Technology and Digitalisation    4
Working from Home    4
Management and Administration    4
Trade and Business    5
Growth of Business    5
Working from Distance    5
Different Convulsions    5
Above-mentioned Issues’ Impact on Marks and Spencer    5
Critical Analysis of the Stakeholder’s View’s Impact    8
Conclusion    9
References    11
Introduction
Business management deals with managing companies, and their functions, that include organising, directions, controls and many more. Every department of a company or business needs supervision for growth and aids with providing training and knowledge about the business. It helps an employee learn procedure of business development and establishment and specialize in handling the departments of human resource, marketing and finance, like a professional.
Contemporary Business Management and Leadership Issues
Due to the outbreak of Corona Virus, Business leaders are facing numerous issues in conducting their businesses. Some of them are listed and explained below:
Uncertainties of Future
Market trends tend to change every now and then; hence, it gets difficult to understand the future of a business. As mentioned by Pomerol (2018), the current situation of economy all around the world is quite unstable due to the ongoing pandemic. This really makes it difficult for the leaders to understand if the future of the particular business is gloomy or bright.
Financial Impact on Business
People in generally do not want to work in credit and due to this pandemic, situation has become even worse. Due to this, businesses are facing too many problems in arranging funds for essential and on spot payments. As stated by Rosenbach (2018), the graph of sales figures, revenues and profit margins are going down with each passing day. Business leaders are not being able to understand, if this time is appropriate for making an investment on offline as well as online platforms.
Tackling Changes
It is becoming extremely difficult for companies, businesses, their leaders and managers to cope with the sudden change due to this pandemic. With an uncertain future and an unstable economic condition, they are failing to do proper planning, as a result are facing huge losses.
Communication and Interaction
As offices and companies are closed these days, people are not turning up at the office and work from home is not an efficient option, hence, many miscommunications are taking place, making it hard for leaders and managers to manage their businesses. The pandemic has shown the world, how things can turn upside down, in a moment and due to this the employees of the organisations are also getting confused. Confusion and lack of proper information and communication ultimately reduces productivity as well as hamper businesses.
Employee Safety and Hygiene
Asking employees to turn up at the offices is impossible now because the chances of contamination are high. It is becoming difficult for the leaders to conduct their businesses, all alone, without the employees. It is also becoming a challenge for them to pay their employees their monthly salaries with the day by day downward sliding of sales and revenue graph (Lim, Loo & Lee, 2017).
Technology and Digitalisation
In the current scenario, the only way to make a business run is digitalisation. As offline business has completely shut down, there are no other ways for the companies to operate their business through online platforms. This is becoming a huge problem as it involves the investment of a lot of money. In the present economic situation, investing huge sums is not a possible approach for these leaders (Dirani et al., 2020).
Working from Home
Initially work from home was perceived as a very relaxing way for employees to do their job, but with the course of time, it has been observed that, interaction issues are being faced by the employees and their supervisors, in this strategy. The employees are not being able to balance their personal and professional life, due to this and work-life balance is not being maintained as working hours have become excessively prolonged. The employees are getting hardly any time to spend with their families and getting lesser time to relax, hence they strive hard to be productive but fail in doing so every time (Papadopoulos, Baltas & Balta, 2020).
Management and Administration
In the current scenario, businesses are not functioning in the manner that they used to do earlier. Due to this both employers and employees are dissatisfied. Communication has become a major issue. Employees are also asked to leave the company due to ingeneration of enough revenue. Other employees are not getting proper payment. An increase in employee burnout is taking place because of improper management and attitude of the supervisors and managers. They are becoming more hopeless day by day and are being tensed because of the uncertainty, losing their focus. The companies are failing to train, instruct, develop and motivate their employees as well (Verma & Gustafsson, 2020).
Trade and Business
Due to this ongoing pandemic, communication and trade between nations have been hampered tremendously, because of shutting down of harbours and airports. Importation and exportation were completely stopped, leading to scarcity of some essential goods. Every country is relying on one another for all the essential stuffs. This has created a problematic situation and has affected globalisation to a huge extent.
Growth of Business
Growth of business and industries are at a halt, in the middle of the Corona Virus outbreak and the challenges, it is posing. The organisations are delaying expansion plans as well, as currently nothing better could be done, as future is quite uncertain. The companies are failing to attract customers and proper market shares due to scarcity of money from the parties. (Di Vaio et al., 2020).
Working from Distance
The current situation has obligated employees to work from their home. Due to this, they are not coming into proper contact with their supervisors; hence, a void is being created in the flow of instructions and information. This is slowing down the pace of functionality of an organisation, in a way. They are not being able to compete with their rivals in the market, especially those, who have shifted into an online platform. Instead of expanding, the industries and businesses are rather diminishing....