Management Of The Globalization Of Business

In this report I am going to define the meaning of Globalisation and assess the impact of globalisation on the way the business operate.

MNC managers that are living abroad can sometimes deal with culture shock. After the initial jubilation of moving to a foreign country clears, it’s possible to be left with a feelings of drowning in change. What was at first exciting, things like looking for new shops or restaurants can become tedious and frustrating. Leaving behind all the friends and family that supported you can be hard. When you are surrounded by a culture that is unfamiliar to you, you may end up feeling large amounts of stress. “Successful expat managers develop highly effective and creative stress reduction techniques.” (Kottolli, 2006) It’s important to have the tools needed to deal with the stress that can be caused by culture

“I had the cognizance in that situation, but not the mindfulness,” he said. “And both are key.” (Carter, 2014) Cultural shock is becoming more relevant because of the globalization of business today. Most explanations define cultural shock as “the personal disorientation a person may feel when experiencing an unfamiliar way of life due to immigration or a visit to a new country”. (Annenberg, 2013) Culture affects every aspect of each human on the planet, so there is no doubt that culture shock can make or break management in global corporations. The styles and decisions used by managers are affected and defined by its culture and values. Mr. Geert Hofstede carried out a comprehensive study on how values in the work place are influenced by

Globalisation has been defined as “the processes rendering the world as a whole as a single place” (Robertson, 1990, p.19). With three main developments included trade, foreign direct investment (FDI) and the international transfer of knowledge and technology, it promotes the increase of Multinational Corporation (MNC), especially in US, East and South-East Asian and Western European (Kleinert, 2011). MNCs can be seen as the dominators of world trade as a consequence of sufficient global resources and operations (Clegg et al. 2011). However, managers of such MNCs are required to have sophisticated control skills

As the US expatriate managers are poorly trained for international assignments, they experience difficulty in adapting to the new culture and tradition. The adaptation to the new place, language, people and their cultural attitudes slow down their workplace performance. Also in the workplace, they experience the cultural shock in the different working mode and staff relations.

Asia’s fashion and apparel market will continue to grow at a healthy clip through 2011-2015. The reason why we focus on Asia area is because as forecast last year, clothing demand in Asia is higher than the demand in Western Europe and North America in 2011 [Appendix 2]. “Many economists predict that demand will be driven by rising personal disposable income levels and an increased focus on fashion apparel, especially in the main cities.” Said by Carrie Yu. As we known, many foreign apparel brands are already present in Asia, and they will spread steadily. Here we have a figure to show the market demand growth in different Asia countries [Appendix 3]. After analysis the data and GDP per person at purchasing-power parity [Appendix 4], we choose three countries-Japan, Singapore and Hong Kong-that are good for Hollister to expand in.

Culture Differences across countries challenges the initial adjustment of employees with the culture. This makes them develop both on the professional and personal level; however, it makes it difficult for the families to adjust to the changing environment. The company encourages multiculturalism as it enables large exploration of ideas

Let us take China and France as examples of two very different countries that may have cross-cultural problems while doing business. First we will give a general overview of the two countries and then discuss some management practices that may vary between these eastern and western cultures.

In the world of business, businessmen and women at higher-level management positions need to be able to lead, persuade, control, and communicate with fellow members of their expanding global marketing management discourse community., If these managers are not able to have full control over their staff and business operations, then the branch they are in charge of could end up in disarray and possibly result in a complete failure. as well asManagers also need to be able to reach their audiences and those who may not be in that specific discourse community, but who are associated with the business world whothat make the field of business the trillion dollar daily market it is today.

With the expanding world we live in globalization and international trade has become a key part of large business, corporations and organizations alike. But how does management impact globalization in business? There are a few key aspects to properly understanding what is needed when running a business abroad. Understanding cultural differences and behavioral changes internationally is the first step to succeeding abroad. Additionally, when any business goes abroad or widens their horizons, one must manage the “bottom line” financially properly or it could lead to ruin. And lastly, understanding that managerial styles change depending on the county one is in is a key factor in retaining good employees. In many ways, the amount the business will thrive becomes obvious if you observe how it and it 's employees conduct themselves out of the “safe zone” of their home country.

According to the works of Chaney & Martin (2011) and Harris & Moran (2000), they agree that international management skills are in need for the increasing scope of international trades and investments. A large number of multinational companies have expanded their businesses through both developed and developing countries. Some of the business invest directly and others are partnership arrangements and strategic alliances with domestic operations. Their studies show that independent entrepreneurs and small businesses have started investing and competing in the world marketplace. Thus, to acquire corporations’ objectives, there is exceedingly a necessity for the development of strategic framework for cross-cultural management and communication in the current competitive global market. Chaney & Martin (2011) also noted that, cultural awareness and cultural differences are strongly important to the multinational corporations’ success. A good understanding of the culture where business is implemented can make international managers productive and effective.

As businesses and firms grow in size, they are crossing borders and becoming multi-national companies. When the firms cross borders, several management strategies need to be aligned in accordance with the cross-cultural needs.

Business leaders have an urge to stay competitive. Globalization does not only create an opportunity acquired needed skills and knowledge, it also create other sorts of competitions locally, across the globe and virtually. While some organizations introduced outsourcing, some tried alliance when some just cut down some of their productions. The way business is traditionally done has begun to change. Rosen, Digh, Singer, and Phillips (2000) concluded that it has become widely accepted that "the world is at once borderless, multicultural and a burgeoning hybrid of cultures” (p. 22). Therefore, the future of management becomes another important issue as well as its impact on social changes in global environment.

Globalization has been the prominent buzz word of recent times from America to Europe and the UK to Japan to Nigeria in West Africa this is what is making the world go round and indeed flat. It is common to hear of today’s world economic system as being “globalisation”. Some describe the historical events leading up to today’s global free trade “inevitable”. The UK’S former Prime Minister Margaret Thatcher was famous for her TINA acronym and Gordon Brown the current PM encourages UK global trading by welcoming even more foreign investors. So, whether in the newspaper articles, politician speeches, or business leader press conferences the G-word appears to be the most important issue in contemporary

Management plays a crucial role in globalisation of a business, they do research and appoint qualified executives to help implement strategies and plans set by top management and chose the right style of management to manage the global business and strive in a competitive market. Manager of such global business are faced with many problem and issues, ethical issue and environmental issues, management of global business they learn from such problems.