1. Introduction
Every organization playing part in the present economic climate must have sufficient
knowledge and expertise to deal with change in order to survive. Over the years, the pace at
which change is coming has tremendously increased and as a result, today, change is almost a
daily routine or reality of organisations and businesses across the world. Organizations need
to stay competitive. According to Kim et al., (2020), the current global business
environment shows an extensive adoption of digital technologies and innovations, which
are also focusing on the rapidly changing consumer behaviour. The factors like
extensive adoption of environmental sustainability, for creating value for the consumers
is a crucial factor in the current Industry 4.0 perspective which is reshaping the business
approaches in the current. However, digitised approaches in business model innovation
as well as product and service development are crucial factors now which are impacting
on them changing market dynamics also. Different sectors like manufacturing and retail
are being reshaped through the adoption of technologies and influencing bending
approaches which are creating significant changes in the global market (Schilirò, 2020).
Hence, they need to respond promptly to sudden internal and external changes. According to
Chawla and Goyal (2021), the process of internationalization, along with the ever-increasing
socio-economic changes has put an enormous demand for improvement in the field of
business management.
2. Background of the Study
The study revolves around exploring the most popular emerging trends in the business
management field that mainly focus on strategic planning and navigating through the global
industrial revolution happening at a rapid pace at present. On the other hand, Free, and
Hecimovic, (2021), argue that factors like in the enhancement of supply chain efficiency
is another factor which are also showing a trend of higher degree of agility as well as
incorporation of diversity in workforces to enhance the overall value generation.
However, the extensive globalisation is focusing on different socio-cultural aspects as
well as the legal approaches in different host countries for diversifying the businesses. in
different sectors. For instance, the retail sector is rapidly changing through the business,
expansion and attraction of consumers in the post pandemic area. that is inclined
towards digital approaches. The emerging trends to be investigated and discussed in this
research are essentially targeted to address the current business challenges and include
management solutions that fall under various categories such as technology, process, user
interface, systems, operations, organizational behaviour and so on (Goyal, Sergi and
Esposito, 2019). There are various trends in recent years which are emerging in business
management and operation. These new management trends are reshaping how organisations
across the globe carry out their daily business activities. Globalization has led to an
integration of domestic and international economies. To be more precise, the study is going to
explore multiple subfields of business management, most specifically the emerging trends or
systems that are becoming more and more popular with globalization. These systems may
include e-business, e-commerce, e-learning, the artificial market, emotional intelligence,
financial modelling, e-finance and so on. the emerging trends or systems that are becoming
more and more popular with globalization.
3. Problem Definition
One of the major problems in the contemporary business environment is the rapidly
changing consumer behaviour and emergence of extensive competition through
adopting digitised approaches in business processing. According to Voronkova et al.,

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(2020), these factors are essentially creating significant complexities and organisational
cultural changes, which needs to be addressed through assessing the current trends of
contemporary business. For instance, the enforcement of environmental sustainability
through legal approaches in different nations is playing a vital role for the business
organisations in expanding their business operations. On the other hand, cultural
changes in organisations like adoption of diverse workforce with higher degree of
inclusion is also playing a vital role in reshaping the business operations and
approaches of different business organisations. However, the extensive analytical
approaches through a vast range of data in collaboration with the evolution of
information technology is impacting on the business intelligence approaches, which is
essential to evaluate (Castañeda, and Shemesh, 2020). The field of business management
has witnessed a massive number of changes over the years. With globalization and the
popularity of the World Wide Web, organizations are now able to access new markets and a
wider set of audiences and customers. According to Khan (2019), there are many factors
affecting the global business scenario. For instance, the social factors include the lifestyle and
sociocultural patterns of customers, customer behaviour and preferences, etc. In this relation,
Simović and Marjanović (2020) suggests that demographics play a huge part in determining
the purchasing patterns of customers. To be more precise, their gender, age, etc. have a
potential impact on their buying decisions. According to Jin and Ji (2018), international
economies across the globe are moving a step ahead with the privatization of their corporate
affairs. The worldwide market is increasingly witnessing phenomena such as divestment
programs and public-private partnerships.
4. Research scope
The scope of the research involves exploring and examining the major trends emerging in
recent years in the field of business management. However, this research has the potential to
identify the emerging complexities in contemporary business processing by assessing the
current trends with the global perspective. The incorporation of a vast range of data focusing
on recent studies essentially creates an in-depth knowledge and understanding on the
research problems (Gupta, 2022). For this purpose, the paper will identify the driving forces
of management trends being introduced more and more in the global marketplace.
Globalization has led to an integration of domestic and international economies. As a result,
organizations are employing various advanced management trends and techniques to deal
with rapid change in the global business environment.
5. The Rationale of the Study
Focusing on the specific issues and trends in the contemporary business world is the key
approach of this study. On the other hand, Erkut, (2020), suggest that critical evaluation of
the contemporary business management principles based on the current global trends
essentially creates in-depth knowledge and understanding on the future strategic
developments in business. With globalisation, the new patterns or systems are gaining
popularity. E-business, e-commerce, e-learning, the artificial market, emotional intelligence,
financial modelling, e-finance, and other similar systems may be among these systems. the
new patterns or methods that are gaining popularity because of globalization (Divatia, Tikoria
and Lakdawala, 2021). The study is focused on examining the most well-liked new trends in
corporate management, which mostly centre on strategic planning and managing the current
global industrial revolution. However, the strategic approaches of data incorporation and
evaluation through the combination of primary and secondary data analysis is an effective
approach of the methodology of this research. The research will typically concentrate on
investigating and analysing the significant developments in company management that have

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emerged in recent years. The study will do this by identifying the motivating factors behind
the management trends that are increasingly being adopted in the global economy.
6. Research Aims and Objectives
The aim of the research is to examine the most popular new trends in business management,
which primarily centre on strategic planning and navigating the current global industrial
revolution. For this purpose, the study will investigate several business management
subfields, with a focus on the new trends or systems that are gaining popularity because of
globalisation. The objectives of the research are demonstrated as follows:

 To evaluate the trends of extensive digitisation in the highly globalised
marketplace.
 To explore the impacts of recent trends in an industry-specific approach that
are reshaping the global business approaches.
 To develop effective strategic approaches for future business scopes by
evaluating the current changes.

7. Research Questions
The research questions are formulated for executing the study in such a way that it will
address the main purpose of analysing the recent and new trends in the area of business
management. The research questions should further align right with the research objectives as
developed in the section above. Hence, the research questions formulated for conducting the
present research are as follows:

 What are the trends of extensive digitisation in the highly globalised
marketplace?
 What are the impacts of recent trends in an industry-specific approach that are
reshaping the global business approaches?
 What are the effective strategic approaches for future business scopes by
evaluating the current changes?

11. Literature Review
Objective 1: Trends of extensive digitisation in the highly globalised marketplace
Digitisation as a group global trend as well as a growth factor of the business organisation from
different sectors is a crucial measure in contemporary business management now. Industry 4.0
aspects shows that economic growth is impossible without extensive digitalization of the business
organisations to create value for the consumers as well as the stakeholders. As opined by Chang,
Wang and Hawamdeh (2018), organizations may now reach new markets and a larger variety
of consumers and customers because of globalisation and the widespread use of the internet.
Foreign investment and immigration are stimulating local job creation and industry
development in many communities across the globe. According to Yarali (2022), the
progressive expansion of exposure to foreign assets and liabilities is one of the most
significant and recent trends in international business. Local economies can no longer rely
exclusively on domestic resources (Suresh, Sangeetha and Sivaperumal, 2019). The
increasingly interconnected economy and society make it easier for organizations to reach

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new markets and different customers because of the spread of globalisation, the Internet, and
international trade.

Figure 1: Projected global digital transformation in 2030 with a valuation of $4339.8 billion
(Source: Varadarajan et al., 2022).
However, extensive implementation of ICT skills of the employees as well as developing IT
infrastructure is playing a vital role in the contemporary business operations. Apart from that,
incorporation of data analysis in a vast range focusing on identification of the changing consumer
behaviour and supply chain management is influencing the business organisations significantly
(Varadarajan et al., 2022). However, the emergence of technologies like blockchain AI and big
data is reshaping the business organisations by creating a trend of higher degree of consumer
convenience in different service and product development. On the other hand, the emergence of
the digital economy is reshaping their business operations on a global scale by creating a vast
range of data in collaboration and content approach in branding and operational management
approaches. However, innovating the business models through these digitised approaches,
essentially reshaping the market dynamics By adopting new policies and strategies to enhance
customer experience and profitability of the business organisations.
Objective 2: Impacts of recent trends in an industry-specific approach that are
reshaping the global business approaches
The industry specific data shows a varied range of changes in business management principles
and operations by addressing the current trends of digitalization, economic deformation as well as
the consumer centric process in business approaches. According to Lichtenthaler, (2020), the
influence of the World Trade Organisation (WTO) as well as the General Agreement on Tariffs
and Trade (GATT) is significantly influencing the global business operations of different
business sectors. Creating a higher degree of efficient communication to the IT infrastructure is a
crucial factor for global business operations. For instance the hospitality business sector is
implementing a vast range of data and conversion of the consumers to create a higher degree of
consumer experience through the customer centric and service offerings. von Delft and Zhao
(2021) suggests that the privatisation of corporate affairs is advancing international
economies all over the world. The trend of international expansion should be pushed forward
in three ways. Foreign capital and trade are crucial drivers of international economic growth.
As stated by Ma (2021), organizations must maintain their competitiveness and react quickly
to unexpected internal and external changes.

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Figure 2: Impactful tech trends that are reshaping the business approaches in different
industries
(Source: Azmeh et al., 2020)
Enhancement of robust technological infrastructure focusing on Industry 4.0 principles is playing
a vital role in reshaping the future business approaches. Emphasising on connectivity and
automation through cloud computing and distributed infrastructure has the potential to influence
the future product and service development on a large scale (Azmeh et al., 2020). On the other
hand, that data incorporation in the retail sector shows the improvement of quality and service
efficiency through creating a higher degree of integration in the global supply chain operations.
However, these approaches are significantly focusing on creating cost effective approaches in a
sustainable manner to enhance the growth and value of the business organisation in different
sectors. Manufacturing sector is showing a significant range of cost efficiency through the
decrease of manufacturing costs and logistics operations which are impacting the business
operations on a large scale. Compared to that, the automotive sector is now inclining towards the
adoption of advanced technologies like automation and 3D Printing technology to enhance the
overall operational efficiency in the supply chain management (Voronkova et al., 2020).
However, digital marketing is crucially impacting the business sectors from different regions by
incorporating a vast range of data and implementing strategic development of communication to
attract and retain a large number of consumers in the business.
Objective 3: Effective strategic approaches for future business scopes by evaluating the
current changes
The comprehensive strategy for business development is showing a significant focus on
restructuring the operational strategies and management principles to enhance the future scopes
of the business. Identifying the current challenges and scopes in the rapidly changing market is
showing the need for innovation and strategic reformation of the workforce is focused on skills
and consumer-centric approaches (Davydova et al., 2020). The employees must cope with the
necessities of technology, including computers and cellular phones. With multiple
developments entering the global scene, such as remote work, artificial intelligence, the gig

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economy, privatisation, and more, organisations and their companies are through a
tremendous change period.
On the other hand, as the current trends of sustainability and digitalization in the operational
approaches are reshaping the international business environment. Developing effective vision and
mission for creating competitive advantage is essential for the company's incorporation of digital
marketing in different sectors is playing a vital role for creating a superior positioning in the
extensively competitive market. However, Li (2020) examined that with the growth of new
technology, particularly telecommunications and the Internet, organizations are becoming
more interconnected and interdependent in ways that they had never been before. Alongside
the technology revolution, the post-covid shifts in the global commercial and economic
landscape are also taking place. The intense debates in this era, which have grown ever more
urgent, involve how to accommodate, channel, and transcend the ravages of technology on
livelihoods. According to Hua, Huang and Zheng (2019), company management techniques
are evolving quickly, as are business concepts. On the other hand, innovating the business
models is also playing a vital role for enhancing the overall performance of the business
organisations to enhance the effectiveness of corporate level strategy through business
intelligence (Tomyuk, and Avdeeva, 2022). However, the functional level strategy of the
business organisations from different sectors shows the potential of deployment of consistent skill
development and creating integration in the global market to enhance sustainability of the
business processing.

12. Research Methodology
The emerging trends to be investigated and discussed in this research are essentially targeted
to address the current business challenges and include management solutions that fall under
various categories such as technology, process, user interface, systems, operations,
organizational behaviour and so on. The quality of the research will depend on the selection
and application of the correct research methodology. According to Earl (2018), the use of
various research approaches, tools and techniques potentially aids the process of developing
and carrying out a study in an accurate and effective manner.
Research philosophy
The epistemological approach in research shows the study of knowledge as a part of reality in
a philosophical manner (Bengson et al., 2022). The research philosophy chosen for this study
is aimed to gain a detailed insight into the topic, which in turn will help in achieving the
formulated research aim and objectives. The incorporation of interpretivism research
philosophy in this research essentially allows the researcher to evaluate a diverse range of
primary and secondary data in an effective manner. As interpretivism research philosophy
focuses on analysing the evidential data in reasoning-based perspective which is essential for
studying the contemporary business trends and their impacts. The positivism philosophy is
suitable in the present research to analyse the role of recent management trends and the
impact of business management.
Research approach
The research approach is necessary for evaluating the process of analysis, which is to be
undertaken on the selected topic of emerging trends in the business management field. This
research implements inductive research approach to evaluate new ideas and concepts by
critically analysing the incorporated data on contemporary business. Focusing on qualitative
and quantitative data analysis through the combination of primary and secondary research
will allow the researcher to create an effective insight on the impacts of contemporary
business trends on future strategies.
Research design

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The research design will be explanatory in this study because it will reveal the trends and
carry out a deeper analysis of those trends with respect to their effect on organizations
operating in the international business industry (Lester et al., 2020). As this research focuses
on a diverse range of knowledge on the contemporary business, the researcher will
incorporate exploratory research design to create an in-depth understanding on the current
business trends.
Sources of data collection and sampling method
Data are believed to be any information that may be utilised for figuring out the answers to
the stated research aim and objectives. This study will use data from both primary and
secondary sources. According to Earl (2018), data are the most important component of any
study to evaluate the reasoning-based analysis in a research. However, this research will
incorporate probability sampling for selecting the participants for the primary research
focusing on the homogeneity of the population. 40 business managers or organizational
leaders will be chosen as primary sources for conducting a questionnaire survey in this
research. On the other hand, the research will also include secondary data by incorporating
peer-reviewed journals and articles that are accessible through university and online libraries
to evaluate secondary sources of information. The selection process of these secondary
sources will focus on evaluating the titles and abstracts to assess the relevance and
authenticity for this study.
Data analysis
This research will implement the both quantitative and qualitative data analysis through
primary and secondary research respectively. Strategically structured questionnaire will be
incorporated for the quantitative data analysis through surveying the participants. On the
other hand, the qualitative data analysis of this study will focus on thematic analysis by
emphasising on specific areas of contemporary business trends. However, the reasoning-
based approach in data analysis ensures higher degree of authenticity and accuracy which can
lead to create impactful research outcomes (Kuz'mina et al., 2020).
10. Ethical considerations for the study
According to Divatia, Tikoria and Lakdawala (2021), it is essential to consider several ethical
aspects for conducting the study in an appropriate way. Ethics is crucial to ensure the quality
and authenticity of the research paper. The ethical considerations in this research signifies
higher degree of accountability of the researcher by focusing on fair practices in data
collection and management. Hence, the major ethical aspects that the present study will
incorporate are outlined as follows:

 The primary data collection process will be totally voluntary in terms of the
participation of the business managers
 The personal information (for example, names, age, address, contact details,
etc.) will be kept confidential and will be protected by maintaining thorough
anonymity of the individual participants in the questionnaire survey
 The researcher will focus on individuality of the participants and treat them
with respect and freedom.
 The data collected from the primary sources will be solely used for academic
purposes. Commercial use of those data will not be indulged in any way.

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 Original authors of the secondary data will be acknowledged through proper
referencing system
 Focusing on academic integrity in case of authenticity and data management
will be an essential part of this research.

9. Timeline of the Study
Depending on the task allocation and the individual time of each activity, a study can usually
be segmented into two separate sections: longitudinal and cross-sectional. In the present
research, for analysing the emerging trends in business management, mainly cross-sectional
techniques will be used. Additionally, the use of a Gantt chart will be helpful in the job
allocation and scheduling of the research activities or tasks according to the timeframe
available for the entire study to be carried out.
Research ActivitiesWeek 1Week 2Week 3Week 4Week 5Week 6Week 7
Selection Of The Research Topic
Data Collection Form The Secondary Sources
Developing The Layout Of The Research
Conducting The Literature Review
Forming The Plan For Research
Selecting Suitable Techniques For Research
Data Collection Form The Primary Sources
Interpretation And Analysis Of Collected Data
Data Findings
Formulating The Conclusion
Developing The Rough Draft
Submitting The Final Work

Figure 1: Gantt chart for conducting the research study

(Source: Created by the learner)

13. Conclusion
The pace at which change is coming over the years has tremendously increased and as a
result, today, change is almost a daily routine or reality of organisations and businesses across
the world. There are various trends in recent years which are emerging in business
management and operation. These new management trends are reshaping how organisations
across the globe carry out their daily business activities. Organizations need to stay
competitive. Hence, they need to respond promptly to sudden internal and external changes.
The increasingly interconnected economy and society make it easier for organizations to
reach new markets and different customers because of the spread of globalisation, the
Internet, and international business network. The research approach is necessary for
evaluating the process of analysis, which is to be undertaken on the selected topic of
emerging trends in the business management field. This study will use data from both
primary and secondary sources. 40 business managers or organizational leaders will be
chosen as primary sources for conducting a questionnaire survey.