Global Commerce and Trade : Assignment
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Added on 2020-06-06
Global Commerce and Trade : Assignment
Added on 2020-06-06
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Global Business Environment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Key elements of cost, market, environment and competition that drive global commerceand trade......................................................................................................................................1TASK 2............................................................................................................................................3P2. Complexness of strategic challenges faced by organisation while operating in globalenvironment.................................................................................................................................3TASK 3............................................................................................................................................4P3. Cause of globalisation on organisational governance and leadership, structure, culture andfunctions......................................................................................................................................4P4. Effects of ethical and sustainable globalisation on organisational functions.......................5TASK 4............................................................................................................................................6P5. Various ways through which decision making can work effectively in global context.......6P6. Assorted routes to internationalisation which can adopt by organisation, including keybarriers.........................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONGlobal business environment can be stated as an area where various companies ofdistinctive sectors gives rivals to each other so that they can enhance their profit margins andincrease their goodwill in international market. It is important for management of a firm which islooking forward to run enlarge their business at a whole new place to examine all the externalfactors that may affect both productivity and profitability of them (Apăvăloaie, 2014).Globalising a company means developing business at international level where they are going todeal with human needs, competency and others foreign elements. The Entertainer is amanufacturing company of UK that makes toys for small kids has been covered under this report.Firm is going to expand business in South Africa. Some key factors are being included under thisassignment that are related to drive global commerce and trade. Away from this, Complexness ofstrategic challenges has also being enclosed. Lastly, assessment will show effects ofglobalisation on a firms decision making process and few barriers that may effect profitability oforganisation.TASK 1P1. Key elements of cost, market, environment and competition that drive global commerce andtradeGlobal environment is vital to understand for every single firm which is trying to enlargetheir business firm at targeted place. Therefore, this type of environment includes various factorthat may put impact on both reputation and profitability of a firm. When an organisation trying torun their business at whole new geographical area that may face various problems that arerelated to barriers, competitors legislations, taxes and so on. But, it has been located that if a firmconsiders all the elements of cost, market, they may find positive effects on productivity and onprofitability as well at international marketplace. In this context, it is important for managementof the The Entertainer to locate all the foreign sections that may put impact on business whileenlarging their business. Some of these elements given beneath:Competition: This is one of main element which should be considered in an appropriatemanner by a firm while expanding their business at international level. Competitors mainlyaffects both productivity and profitability of a firm which introduced its products in recentmanner (Axelrod and VanDeveer, 2014). Therefore, it is vital for organisation to analyse1
products, working style, technology which is being used by rivals. With the help of this,management or leaders of companies can take effective decisions in order to give them rivalry orto gain competitive advantages (Belás and et. al., 2014). By this, they can manufacture productsand services as per needs and wants of consumers. Along with this, hitting targets as becomemuch important for companies in today's world so that they can sustain at marketplace for alonger period of time. The Entertainer who manufactures toys for children and trying to improvetheir experiences as well with using innovative ideas. At the moment, they have analysed thatSouth Africa is a good place where they can expand business as it is much developed country.Along with this, they saw that this nation has already have ample number of manufacturing firmsthat are making toys.Cost: While expanding business at international level it is mandatory for an enterprise tolocate all the elements which may aid them in reducing prices of products and services. This mayaid them in getting attention of consumers in ample number. Along with this, it has beenanalysed that making quality products with less amount every single customer looks for.Therefore, targets can get hit by management by considering all the requirements of consumers,Away from this, it has been examined that when a firm enters international level there cost ofproducts and services get increases. Thus, it is mandatory for management of The Entertainer tolocate all the elements through which they can minimise cost of products and services so thatthey can sustain at marketplace of South Africa. With the help of this, they may gain or makegood brand image in front of social people of South Africa.Market:When a firm looks to enlarge their business at whole new place whee they donot know about culture and environment that they have. It is important to analyse the market ofthe targeted place through which they can make plans and strategies which may aid them inhitting targets in short period of time. Enlarging business consist various risks which may putimpact on productivity and on manufacturing of products as well. Therefore, it is mandatory forfirms to analyse market in a proper manner of the geographical areas where they are willing toexpand their business (Belás and et. al., 2015). With gained information, firm make alterations oftheir products and services in order to better serve to the people of that targeted place.Henceforth, The Entertainer needs to understand and examine customers needs, competency,rivals decisions and other things which may put impact on doing business at globalised level.2
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