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Global Business Environment Assignment - (Solved)

   

Added on  2020-10-04

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GLOBAL BUSINESSENVIRONMENT
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Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Cost, market, environment and competition that drive global commerce and trade of anorganization.................................................................................................................................3TASK 2............................................................................................................................................5P2 complexity of strategic challenges faced by the organization...............................................5TASK 3............................................................................................................................................6P3 Impact of globalization on Organization's:............................................................................6P4 Influences of Ethical and Sustainable Globalization Organization'sfunctions:....................................................................................................................................7TASK 4............................................................................................................................................8P5 Different ways in organization's decision making can work effectively in aglobal context:............................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONThe global business environment can be defined as the environment in different countrieswith factors affecting the home environment of the organization, influencing their decisionmaking on resource use and capabilities of them.In the present report, a detailed explanation of global business environment has beendiscussed. It will cover key factors that drive global commerce and trade of Small-MediumEnterprise's in United Kingdom and also includes driving factors of globalization. It will alsofocus on the significant impact of digital technology upon globalization and its challenges andwill provide recommendations on how to overcome these challenges.TASK 1P1 Cost, market, environment and competition that drive global commerce and trade of anorganisationGlobalization is a process or trend of interaction between different companies ororganization on a worldwide scale. It is not inevitable. From economical point of view, itinvolves goods and services, and the economic resources of capital, technology, and data.It can be divided into three parts, economical, cultural and political globalization.Economical globalization refers to the increase in economics of the country across worldwide. Incultural globalization, transfer of different ideas and values in the world to increase, extend andintensify social relations among people. While in political globalization, political aspects of thecountries are included which can affect globalization.Over past few years, the relative success of globalization is evident in terms of increasedforeign trade and capital flows, acceleration of growth rates and rising per capital GDP incountries that has open up their economies to world (Adekola, A. and Sergi, B.S. 2016). There are several factors which drive globalization process. For Example: technology,communication, commuting, open markets, competition, economics drive, environment andworld demands.Technology: Technology plays a very important role in the globalization. Fasterand cheaper technology in the digital global economy of the Internet era has helped a lot to breaknational barriers of time and space.Communication: This is the only way through which anorganization can communicate with or companies. It should be done in proper manner tomaintain the relationship.Competition: In today's world, there is competition to establish
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business in the market. It becomes very difficult task for everyone to successfully establish itscompanyEconomic factors: An economic factor affects globalization in many ways. The cost ofgoods and values to end user will determine the movement of goods and value addition.The overall economics of a particular industry is an important factor in globalization.This will justify success of the business in the market, for example whether he is in profitor loss can also be predicted from this (Beck, U. 2018).Open market and globalization:Globalization process makes process of selling goodsand services very comfortable the without any hassle to different organization.Globalization and opening markets in developing countries has helped industries to offerthe best quality product in affordable prices which can be highly beneficial for globalconsumers.Environment:The increase in globalization process and how it affecting theenvironment has been a major global concern among countries. It has both positive andnegative environmental impacts, and the challenge is to establish governance systemswhich can help to minimize negative impact and maximize positive impact ofglobalization. Environmental governmental rules and regulations have to be required atlocal, national, regional and global levels to correct market failures related to theenvironment.In the context of globalization, PESTLE Analysis examines a company's targeted market issuessuch as their political, economic, social, technological, environmental and legal dimensions interms of both its current situation and its future possible trends. Understanding of differentfactors of PESTLE will help an organization to do their trading more efficiently. Factors thatfavor globalization can lead to a higher level of imports which leads to globalization (Caiazza,R., Shimizu, K. and Yoshikawa, T. 2017). There are number of factors which are responsible inthe overall globalization process such as costs, market, competition, classification of pull andpush drive, etc.CostsFactors: Costs factors favor the globalization process. In this process, there is ahuge scope of large-scale and large-scope economies. This provides high opportunitiesand favorable logistics to an organization.Market: It is the most important part ofglobalization. From the market research, the company can understand different customerneeds and requirements, global customer needs, various global channels available for
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