The Global Business Environment: Assignment
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Added on 2020-10-22
The Global Business Environment: Assignment
Added on 2020-10-22
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GLOBAL BUSINESSENVIRONMENT
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Key factors which drives the global commerce and trade......................................................3TASK 2............................................................................................................................................6Complexity of strategic challenges faced by the firms..........................................................6TASK3.............................................................................................................................................7A. Influences of globalisation on organisational governance and leadership, structure, cultureand functions. ........................................................................................................................7B. Influences of ethical and sustainable globalisation on organisation functions. ................9TASK4 ..........................................................................................................................................10A. Ways in which decision making can work effectively in the global context..................10B. Determination and articulation of ways to internationalisation.......................................11CONCLUSION..............................................................................................................................12REFRENCES.................................................................................................................................13
INTRODUCTIONThe global business environment is the external environment of various countries whichaffects the decision and working of the business. This means the environment of the businesswhich is present in the domestic and international market. There are many factors whichinfluences the working of the business. These factors are internal and external to theorganisation. There are also some complexities related with the operations in the globalenvironment. The company taken in this report is CAMECO. Its headquarter is located inCanada and it basically deals in uranium. The topics which will be covered in this report areexternal and internal factors affecting the working of CAMECO. This will include cost,competition, PESTEL analysis and the impacts and challenges of globalisation. TASK 1Key factors which drives the global commerce and tradeCameco Corporation is the world's largest publicly traded company in the uraniumproduction. This company is based in Saskatoon, Saskatchewan and founded in the year 1988.Cameco was the 2nd largest Uranium producer in the world in 2015 with a 18% share of worlduranium production. The chairman of the company is Neil Mc Millian. This firm was establishedby the merger of two firms which are federally owned Eldorado Nuclear Limited andSaskatchewan Mining Development Corporation.Cost: It is the monetary valuation of materials, efforts, resources, risks, time, etc. inproducing and delivering the products and services. While entering in a new market or country,Cameco needs to determine the prices of the products along with the economic condition of thepeople of that particular nation. If the economic conditions of the people are favourable thenopportunities lies for the company to expand their business operations in that country as due tothe favourable economic condition of people, customers will purchase the products which isbeneficial for the firm in improving the profit and revenue. These prices and favourableeconomic condition can drive the global commerce and trade which is a positive impact for thecompany in providing the products to the customers of that nation.Competition: It is the peak point where different companies compete with each other on thesame platform. Competition is a major element for Cameco in order to gain success who isentering into the global market. Due to the competition, companies will bring new and
innovative products in the market for cutting the competition. This drives the global trade asCameco gets the opportunities to provide innovative products by using their R&D division whichwill enhance the customer base and profit of the company and Cameco can perform better in themarket in which the business operations are expanding.Environment: Environment consist of the various internal and external factors like needsof the clients, demand and supply, social trends, economic changes etc. It assist the firms likeCameco in determining the business opportunities, required resources, planning etc. Theenvironment in business includes macro and micro environmental factors.Environment plays a major role in globalising the business of Cameco. The success andgrowth rate directly depends upon the effectiveness of the environment. Factors such as social,political, economical etc. can impact the Cameco which are discussed below:Political: Political factors includes political terms and conditions, foreign policy,philosophy, government ideology etc. which can impact the business operations of Cameco. Themanagement of the Cameco needs to determine such factors or changes in them for ensuring thesmoothly running of the business operations. For example: When globalising the business inIndia, Tesco get the permission from the Indian government as the political condition of thecountry was stable at that time.Economic: These factors includes the economic policies, inflation rate, tax etc. Cameconeeds to determine such factors so that the occurred cost of the company can be reduced forincreasing the profit or margin. For example: Before globalising the business in India, Tescodetermined the lower trade barriers in India due to which company exploited this opportunity forexpanding their customer base and productivity as well as to maintain their profit margin.Technology: Cameco needs to determine the technology applications, technologyinvestments, technology in markets etc. for implementing the required technology in the businessactivities so that the profit can be enhanced and cost can be reduced. For example: Whileglobalising the business in India, Tesco implemented the proper communication system in theirstores as India was having low communication costs at that time which provides the opportunityto Tesco for expanding to India. Also the Bangalore was the hub of technology at the time ofexpansion which provides the opportunities to company for forming Bengaluru critical globaltechnology and business service centre which caters the growth of Tesco in serving themillions of customers.
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