Business Considerations from Globalisation
Globalization in business involves the expansion of operations across international borders. Key considerations include understanding diverse cultures, adapting to different legal and regulatory frameworks, and managing currency exchange rates. Businesses must also navigate global competition, supply chain complexities, and geopolitical risks. Embracing technology and innovation, building strong partnerships, and maintaining flexibility are crucial for success in a globalized business environment.
5 Key excerpts on "Business Considerations from Globalisation"
eBook - ePub- Kofi Aninakwa(Author)
- 2020(Publication Date)
- Page Publishing, Inc.(Publisher)
...AN EXAMINATION OF THE FORMULATION AND OPERATIONAL FRAMEWORKS OF GLOBAL BUSINESS STRATEGIC PLANS Abstract B usiness strategy is a process by which a company assesses its future prospects to achieve its objectives. Successful organizations engage in strategic planning locally, and those with a global business operations position themselves to take full advantage of global trends and opportunities. Strategic decisions are based on objectives, dedication, relationships, performance, resources, and competencies. Significant changes in critical forces that affect the business environment are political, economic, technological, social, and cultural, and these result in the change of strategy. International strategies hinge on the determination of correct proportions between global standardization and integration on one hand and local responsiveness on the other. Multinational corporations (MNCs) report that strategic planning is essential to compete with technologically increasing global competition and to control their overseas operations. There is the need to identify and select the appropriate goals and courses of action and take right decisions and measures to achieve an organization’s objectives. The strategic analysis shows how the MNCs make decisions to enter new markets by focusing on research and innovation through the utilization of favorable resources accordingly. key words: strategy planning, business environment, global standardization, global Integration Introduction The process by which organizations evaluate future prospects and take decisions for the firm and decide on appropriate strategies to achieve its objectives is called strategic planning (Deresky 2006)...
- Rabi S. Bhagat, James Segovis, Terry Nelson(Authors)
- 2016(Publication Date)
- Routledge(Publisher)
...This happens because we live in a world where the infrastructure of global communication connects our lives regardless of the physical distance involved. Globalization refers to a state of the world that involves networks of interdependence among organizations of different types and from industry sectors and located at various geographical regions. The linkages occur because of flows and influences of capital and goods, information and ideas, people, and forces as well as environmentally and biologically relevant substances (e.g., pollutants or pathogens) that are relevant for the physical climate of the globe. Processes of globalization and deglobalization refer to the increase or decline of the worldwide spread of mainly economic activities. However, other aspects of globalization are critical for the study of work and organizational stress and coping. Interdependence and globalization are both multidimensional phenomena that should be studied from economic as well as other aspects. Important facets need to be considered for a complete discussion of the nature of globalization and its affect on multinational and global companies. Facets of Globalization ■ Economic globalization involves exchange of capital, goods, and services over networks involving long distance relationships among various organizations located in different parts of the globe. It also involves the movement of information and data to facilitate market exchanges. Worldwide coordination of the processes that are linked to these flows such as developing organizational and institutional linkages among various low-wage production facilities in, for example, Asia or Latin America for generating goods and services for the more developed markets in the United States, Japan, and Western Europe is also considered an important facet of the economic globalization...
eBook - ePubBusiness for the Common Good
A Christian Vision for the Marketplace
- Kenman L. Wong, Scott B. Rae(Authors)
- 2011(Publication Date)
- IVP Academic(Publisher)
...Consistent with the subject of this book and the framework presented in chapter two, we must ask, What if businesspeople and organizations approached their work with a markedly different lens or worldview and turned the standard economic efficiency arguments on their head? Replacing criteria such as sourcing where it is cheapest, selling where it is most profitable and so on, globalization would be looked on as expanded opportunities to partner with God, serve others and help transform their lives in holistic, biblically consistent ways. Instead of just a cost-cutting source, factories would become places to deliver people (more accurately, our global neighbors) from oppressive conditions by empowering them (economically, politically, socially and physically) through fair wages and by improving their income earning skills. Safe working conditions, enriching work that as much as possible is built around human needs, and building life skills and a spirit of community and camaraderie would be givens. Likewise, emerging markets would no longer be reduced to impersonal places or niches to sell more good and services or invest our money. Instead, we would envision global neighbors who can be served and bettered in holistic ways by the products and services offered by our organizations. Of course, this takes us front and center to questions about the very nature and benefits of the products we manufacture and sell (what business are we in?). Do they better human life or are they simply frivolous and wasteful? Undoubtedly, the ability to live up to this vision is challenging. The real world is a difficult place to operate and is hostile to what has been just described. Powerful forces like fierce global competition and quarterly earnings pressures that translate into cost-cutting do not voluntarily step aside so that Christian (or other concerned) businesspeople can change the world...
eBook - ePub- Fred Sollish, John Semanik(Authors)
- 2011(Publication Date)
- Wiley(Publisher)
...We examined concepts of conducting business in other nations, such as cultural values. In doing so, we considered aspects of organizational and social culture along with organizational structure, the role of the individual, conflict resolution, dress requirements, treatment of visitors, and delegation of authority. We also looked at ethics in business, codes of business conduct, and social responsibility, including environmental responsibility, as well as some of the legal aspects to be considered in sourcing. Turning then to a discussion of sourcing challenges, we pointed out the important roles of communication and its associated technology, concluding with an overview of time concepts, conducting negotiations, and intellectual property. Much of this information will be expanded upon in other chapters....
eBook - ePubEthics in the Anthropology of Business
Explorations in Theory, Practice, and Pedagogy
- Timothy de Waal Malefyt, Robert J Morais, Timothy de Waal Malefyt, Robert J Morais(Authors)
- 2017(Publication Date)
- Routledge(Publisher)
...5 ETHICAL CHALLENGES AND CONSIDERATIONS IN GLOBAL NETWORKED ORGANIZATIONS Julia C. Gluesing Introduction As the processes of economic integration and globalization have accelerated remarkably over the past twenty years, multinational enterprises (MNEs) stand at the center of trade, investment and the transfer of knowledge and technology. Everyday, MNEs cross many boundaries on multiple levels: political, legal, and economic boundaries at the national, regional and community level, various external and internal organizational boundaries, the boundaries of language, and multiple cultural boundaries – all of which must be recognized, negotiated, and integrated in some way to get work done on a global scale (Leung et al. 2005). Since the 1990s, anthropologists have been writing about and investigating MNEs as the primary vehicles for the movement of information, symbols, capital, and commodities in global and transnational spaces (Appadurai 1996). For business leaders, globalization carries with it complex moral challenges that they cannot ignore. The moral challenges and dilemmas of choice they pose cannot be easily resolved through moral theory because there may be more than one right response from conscientious people who present choices that may all be justifiable according to different moral logics (Thompson 2010)...
