Global Business Environment Assignment Solved - (Doc)
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Added on 2020-10-22
Global Business Environment Assignment Solved - (Doc)
Added on 2020-10-22
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Global BusinessEnvironment
INTRODUCTIONGlobal business environment can be defined as different external factors that surround thefirms and effects their operations and decision making process. Globalisation also helps businessorganisation to involve in exchange of goods, services, data and capital on the international basis(Alqahtani and Saba, 2013). This is an integration of policies, culture, economies and markets.Along with this, global business environment consist of organisation in which company carrytheir organisational functions on global platform. The present report has been conducted on,Cameco that stands for (Canadian Mining Energy Corporation) was founded in 1988 by theprivatization and merger of two crown corporations and their headquarters in Saskatoon,Saskatchewan, Canada. This company operates uranium mines in North America andKazakhstan, including McArthur river-key lake which is world's largest uranium procedure. Thisreport will be discussed about the key factors of cost, market, environment and competition inglobal commerce and trade. Along with this complexity of strategic challenges faced by theorganisation with supported examples. Also, discussions have been made on influences ofglobalisation on organisational governance, culture and leadership structure. At last evaluation ofethical and sustainable globalisation and different ways of decision making and various routes ofinternationalization including key barriers.TASK 1P1 Analyse key factors of cost, market, environment and competition that drive global commerceand trade.Global business environment define the reality of the nature of business in the industry. Itis rapidly increasing day by day which is the shape of dynamic trade. As the business growingrapidly there are some factors which are to be considered while taking the decision ofglobalization (IT'S A SUSTAINABLE EVOLUTION. 2018). As the industry is expanding theirbusiness globally therefore, needs and demand of customers, cost of the product and competitorsto the business should be analysed. In the context of Cameco, which was established in the yearof 1988 and deals in the uranium or electricity product which has a huge market base globally.As the company is a global player so the key factors that drives their trade globally such as cost,market, environment and competition. The analysis of these factors are given below:1
Cost factors: Investment of the company being increased is the motivation key for lot ofglobal organizations. The goal for any firms is to get the more profit from the investment done.The cost at which company is producing their product is the main aspect for any company to besuccessful. As in the case of Cameco the company is expanding their business on the globalscenario so the factors that will make their cost of the minimum product will be taken. Themanagement of the company should identify that which market region is offering themmaximum profit in case of cost proposition.Market factors: As the present time consumers are well educated and the lifestyle ischanging the way of consumers thinks so the market factor should be taken into considerationwhile planning to maximise their business in the global market. The appropriate study of marketis to done by the considering the market determinant. According to this approach should start bypicking the regions and then the countries within the regions. In this customer taste andpreference should be considered while planning to chose the region. As customers are the basefor any firm to be successful. Cameco should also consider or focus on the market factors andregions in which they should maximize their business before coming in the market.Environmental factors: The environmental factors includes in various businessenvironmental issues that organisation faces while expanding their business. These factorsshould be properly identified and implemented so that business can grow in the current market ofenvironment. Some of the environmental factors includes in Political, Economic, Social,Technological, legal and environmental factors. Cameco managers has effectively analysed thesefactors before maximising their business in the global market. This helped them in growing orenhancing their market share and increasing the profits at higher level.Competition factors: A company that does not remain forward of the competition riskstheir market sustainability. As they are ignoring their competitors which will lead them to loosetheir potential market. Competitive companies introduce and upgrade and distribute newproducts rapidly rather then the other company. So that this factor should be taken care throughthe managers of Cameco as if the rivals or competitors are not considered while planning theirpolicies then it may lead them to loose their market share. This factor helps them to innovate ormaking the new product better then the other competitors or rivals. 2
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