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Global Business Environment - Assignment

   

Added on  2020-06-06

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Global Business Environment

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key factors of cost, market, environment and competition that drive global commerce andtrade........................................................................................................................................1TASK 2............................................................................................................................................3P2 Complexity of strategic challenges faced by organisation while operating in globalenvironment............................................................................................................................3TASK 3............................................................................................................................................5P3 Influences of globalisation on organisational governance and leadership, structure, cultureand functions..........................................................................................................................5P4 Influences of ethical and sustainable globalisation on organisational functions..............6TASK 4............................................................................................................................................6P5 Different ways decision making can work effectively in global context..........................6P6 Various routes to internationalisation which can adopt by organisation, including keybarriers....................................................................................................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONGlobal business environment is considered as a place where large number of firmscompete with each other. The range of competition at such location is more as compared todomestic market which used to understand by managers of a company (Ferraro and Briody,2017). Thus, many small firms lead to attract at global environment with a hope of more profitand highest productivity. This project is based on The Entertainer whom are toy manufacturer inUK. They want to expand their business operations at global level for which they required toconclude and determine all major environment essentials. In this project, key essential factorwhich drive global business environment lead to determine properly. Although, it will alsodiscuss about the strategic challenges which used to face by an organisation at global marketarea. It will also describe about the various ways of appropriate decision making process atglobalised level of business.TASK 1P1 Some of the Key factors that includes cost, market, environment and competition for drivingglobal commerce and tradeSome elements will provide impact to company while maintaining business at globallevel effectively or efficiently. It is required for manager to identify them; therefore, bycontrolling them, they will operate business activities in an appropriate manner (Wild, Wild andHan, 2014). In context with the company, employer is going to expand their business in India.For this, it is required for them to formulate some strategies and policies so that they willmaintain do business properly. Henceforth, to conduct business at international level, there aresome requisite components which need to be examined by organisation and these are stated asbeneath:Competition: As firm is going to enlarge their business at global level and that time theywill face many rivals who are operating their business in same sector. Thus, to maintaincompetitiveness, it is fundamental for superior to manufacture new or latest kind of products andservices for consumers (Savrul, Incekara and Sener, 2014). As a result, this will enable them ingrabbing attention of maximum number of people towards their organisation. They will applyunique or latest techniques into their items which assist to enhance market share. It has beenanalysed that, economy, culture as well as society of other nation is entirely different which willcater affect to affiliation. For this, it is needed for manager to frame appropriate strategies or1

policies. As The Entertainer is going to expand their business in India; therefore, they examinedtheir competitors properly so they will manage overall operational activities effectually. Thisassists them to improve profits and in addition reputation at international marketplace.Circumstances of trade barrier is much less because persons of that place are adopting new orlatest techniques easily which make them third largest nation who are using internet in highrange. This will help company to make their business more effective as well as efficient. Alongwith this, it enables them to modify business timely which aid them to capture attention ofpeople towards their products and services. Furthermore, India is a emerging nation so thatregulatory body promote FDI which help MNC's to make their business more successful (Peng,2016) (Kasemsap, 2015).Cost: This is considered as another factor of globalisationthat need to be evaluated by acompany in a better manner. This is fundamental responsibility of managers to prepare strategiesappropriately so that they will easily render qualitative items and services to individuals ataffordable prices. It will assist them to take benefits from contenders in market and they willimprove client base as well. Furthermore, other thing which is related to cost is known asinvestment return rate which will render huge affect on value of goods and services either in adirect or indirect manner. Company is looking for expanding their business across the globe;therefore, it is required for them to examine overall contenders in a proper way as it helps themto set price of items and services significantly. As a result, through obtaining competitivebenefits firm will easily maintain their position at international market. Value of merchandiseneeds to be acceptable by consumers as they are considered as an end user of any products. Thus,it is needed to satisfy their needs and wants in a proficient way.Market: To make business globalise, it is required for superior to conduct businessactivities in a wide level so that they will sell goods and services to individuals who are residingdifferent places (Cavusgil and Knight, 2015). As company is expanding their business; thus, riskfactor will high but with help of this, they will improve revenues and will be able to sustain atmarket area for ample period of time. It is must for an employer to identify market nature in aneffective as well as efficient manner. It has been analysed that, each individual demand orrequirement is different as they all want to maintain their living standard significantly. Therefore,it is requisite for an association to frame strategies accordingly so they will accomplish desires ofusers within limited period of time. In context of The Entertainer, they are going to enlarge2

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