The Impact Of Management On The Globalization Of Business

The substantial part of the article concentrates on the way companies and their managers should embrace contemporary multinational market. The author claims: “Adaptation strategies are better suited to opportunities opened by the shift in the locus of teh global growth. (..)Western markets must compete in big emerging markets like China and India. But they can;t forcé their way in.” That is why, it is critical to pay careful attention to political, economic, or cultural diversity. Ghemawat is skilled in giving pieces of advice to those who underestimate the importance of countries differences and similarities. He also says: “I propose that every MBA gradúate – and presumably every global manager – have a mínimum body of globalization related knowledge, including (..)an understading of how differences between countries can influence cross-border interactions; awareness of the benefits of teh additional cross-border integration’.

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

The explosion of technology innovations within recent years has created a multitude of new and exciting ways for companies to conduct business. We now have technologies such as robotic manufacturing, electronic mail, online videoconferencing, and global networks to connect everyone and everything. Small and medium businesses are now able to cross all traditional boundaries that limited them in the past. Technology has fundamentally altered the way businesses are structured and changed the ways in which managers perform their duties. Communication is essential for any business and for a business to survive in this modern environment managers must effectively manage all of these technologies (Robbins, and Coulter 60).

Report the demographic and independent variables that are relevant to complete a demand analysis providing a rationale for the selection of the variables.

It is a more complex job for managers to operate a company based on the global business environment, but it can be also treat as a challenging for them, because it is a more open environment – organisations are free to buy goods and services from all over the world easily and convenient. The following paragraph will discuss how Myer managers operate the company in the global environment in 3 specific area, supplier, customer and competitor.

According to Dictionary.com, the definition of globalization is “to extend to other or all parts of the globe; make worldwide” (Dictionary.com, 2008). Globalization can have a huge impact on the four functions of management. In order to achieve success, a company must have a plan or goal set in action. Once a company decides to go global, it has to decide its market. For example, Disney has over 25

Today, the global business sphere is growing swiftly in terms of organizations and management in general. New market trends and strategies are being implemented from old fashion to modern ways, in order to best manage and take control of the organization, along with boosting the employees ' confidence. Ever since the dawn of trade and services, the customer has been the main priority in the promise of a fruitful business. In order to efficiently serve the valuable customer, organizations have opted to allocate more and more cash towards Research & Development in millions of dollars, along with efficiently knowing when to change management in correspondence with the organization 's progress. This has all helped with an advancement in corporate technology and asset growth in the desire of pursuing a healthy growth of profits in the long term.

Organization wants to achieve the objectives of sustained growth and increased profitability, organization must constant innovation its product or service, also need to carry out some plans to expand its business to enable an organization to have a better development. Organization expands its business cannot be confined to the domestic market must also move abroad, which effectively allows an organization closer to the global market and broadening the scope of business and profitability. However, business expansion is not as easy in this global environment, globalization has not only changed the enterprise competitive landscape also influence the way leaders conduct business (Caligiuri, 2006). Furthermore, with globalization, global leadership in terms of cultural knowledge needed to become more acute and require more advanced level of cognitive ability on the complexity of managing the demand of multiple cultures while completing managerial tasks (Caligiuri, 2006, Grosse, 2011). Therefore, the development of global management skills is very important for the global organizations and managers. Only effective in developing global management skills can help the organization reduce the risk of international business

"Globalization, both as an ideology and process, has become the dominant political, economical and cultural force in the 21st century." Quote from "Globalism: The New Market Ideology" by Manfred D.Steger Merriam-Webster defines globalization as “the act or process of globalizing: the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor market.” Before the recent increase in globalization, organizations usually considered their customer base and market to be their country of origin, however with the rapid spread of diversity,

Planning for globalization is where one would need to look at the end results for the their purpose of globalizing. To begin globalizing, you need to understand what it is you are looking for e.g. cheaper labor, out-sourcing, and bigger market. Once you understand this, you can move on to the next function of management. Organizing in a global market can and will be difficult. To organize a global business, you need to take in many factors to help determine your end result. To organize a business, you will need to think not only of your company’s well being, but also the relationship your company has with the market you are currently in. To organize on a global level, you will need to have many people in many places, this way you can keep yourself updated on what is happing in each of the regions your company is involved in. Leading and controlling in a global environment will mean having to think about all aspects of your company across the globe. Since both of these functions have pretty much the same application in a global market, we can discuss them both here. Many people in many different places will rely on you or the company to know where the end results lay at and how to achieve them. In order to lead and control a global company, you will need to look at all aspects of your company’s operation in each of the markets you are in. You will need to decide which is best for each area and monitor the performance.

INTERNATIONAL MANAGEMENT: CULTURE, STRATEGY, AND BEHAVIOR, EIGHTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited

With the increase in globalization, there is more communication occurring between people not only of the same culture but of different cultures, making clear communication more difficult with regards to the syntax of different languages. These different cultures all have varied ways of teaching their people with regards to education, societal norms, and their culture as a whole. Cultures may be similar in one value while at the same time, they can be complete opposites in another. It is because of these differences, misunderstandings can occur and can lead to high tension within the workplace. Whether in written or verbal form, this is why you cannot just divulge your thoughts and expect the intent to be understood by the recipient.

The world offers significant business opportunities for every company, however, opportunities are accompanied by significant challenges for managers. Managing global operations across diverse cultures and markets represents a big challenge and opportunity for companies. To compete in the global market and be successful, companies must learn the strategies, policies, norms and technology necessary to conduct international business. The opportunities for global expansion are numerous, and attaining success is a matter of developing the right strategy to win local markets and its consumers.

The purpose of this paper is to show impact of management in the globalization of business. The following topics are addressed in this paper:

Management is involved at all levels of a business and is central to business more importantly in this globalised era. The functions of management outlined above are cardinal to any business. This paper will discuss the importance of management in a globalised business era.