Solved Global Business Environment : Assignment
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Added on 2021-02-21
Solved Global Business Environment : Assignment
Added on 2021-02-21
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Global Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................1LO3..................................................................................................................................................1P3 Globalization Impact on Various Organisational Factors......................................................1P4: Influences of ethical and sustainable globalisation on organisational functions..................3LO4..................................................................................................................................................5P5: Different ways decision making can work effectively in a global context...........................5P6 Routes to International Business:...........................................................................................7CONCLUSION................................................................................................................................9REFRENCES.................................................................................................................................10
INTRODUCTIONThe Global environment refers to the broad- gauge environment in which variouscountries operates together. It includes a broad range of factors due to which company getinfluenced which are working in different time zones, geographic location, understanding ofcultural norms and acclimating to regional nuances. Also, in global world situations can changequickly due to crisis, political unrest, weather, technological and legislative changes, exchangerate fluctuations, and inflation.Tommy Hilfiger is an American clothing brand which manufactures apparels, footwearand fragrance. It was founded in year 1985, now it has 1400 stores in more than 90 countries. Itsrevenue generation is around 6.7 billion. CEO of the firm Daniel Grieder was appointed in year2014. This report highlights leadership,structural, cultural influences of globalisation onTommy Hilfiger. The impact of sustainable and ethical globalisation and overcoming the sameby appropriate decision making and Internationalisation of business by adopting various routesand overcoming the hurdles is also being mentioned. LO3P3 Globalization Impact on Various Organisational Factors Globalisation is integration of world's economy and their reliance on each other forgrowing their business at global level. It has various impacts on Tommy Hilfiger on the basis ofits culture, structure, policies, strategies, etc(Arvis and et.al., 2018).Corporate Governance & Leadership: As Globalisation influences the company's governancemechanism and various other systems such as accounting, marketing, etc. Tommy Hilfiger has towork and plan in accordance to the comparison of other country's scheme of corporategovernance. They can do this by investigating the parameters institutionally and adopt theschemes for nourish their business. As the various aspects of governance influence the design theof governance mechanisms of Tommy Hilfiger in context to its duality, composition of variousproducts, inbreeding and also effected its market disciplines as now it has to disclose the facts toeach and every country with which it deals for smooth running of business globally. By closestudy of different countries leadership and management style, it can lead over the targetedmarket as the skills of every country is different in accordance with their beliefs, culture, value,etc. it would be beneficial if it appoints the person for leadership from its origin only.1
Globalization has a wider impact on the governance strategy as the firm working with theexisting strategy has drawbacks as the global market is increasing day to day. Different approachmust be provided by the leaders which can increase the strategic development of theorganisation. Tommy Hilfiger's strategy must be improved which can help it to grow in widercontext(Delić, Perić and Koprivnjak., 2018). Organisational Structure: To survive in the global market Tommy Hilfiger has to structure itselfin order to fit in. The management team has to put emphasis on global standardisation andinternational responsiveness so that they can lead the targeted market. If the structure of theorganisation is flat, the planning process of any strategy or task along with its decision makingwill rests at the same level, that is the whole of the process and functioning remains in the handsof one level which in result will give non- effective output at global level which will be verydifficult for a company to survive in the global market. But, in case of tall structural organizationthat is Tommy Hilfiger, the decision making process is done by the efficient team which isappointed at the higher level of management. Due to this hierarchy level the planning,implementing and decision making process becomes easier and more efficient. Culture & Functions of Organisation: Organisational culture includes the core values,ideologies, ethics, behaviours, opinion, etc. which follows in the whole organisation includingthe employees for meeting the short-term and long-term objectives and goals of the organisation,it helps in regulating the code of conduct of employees. Organisational culture is the vital andcentral work for the leaders of Tommy Hilfiger, and they comply with it, through policiesformulations and implementation of the same. National Culture also influences the culture, as thenew employee enter into an organisation with his own view point, assumptions and values,which ultimately become the backbone of the organisation by default.(Hamilton and Webster.,2018).P4: Influences of ethical and sustainable globalisation on organisational functions.Globalization can be define as the process which can be undertaken by organization to expandtheir business internationally. In this firm needs to rephrase their policies according to the placeor nation. This can help firm in growing and establishing their business in the new market. Theyalso have to engage in deep market research. In order to expand globally firm needs to have anidea about the consumer, taste and preferences. This can help them in establishing their businessin global market. It will also help them in building their image in global market. Expanding2
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