Business Environment and Globalization Challenges

The provided document is an annotated bibliography on the topic of business environment and globalization challenges. It includes a list of sources related to the subject, with detailed citations and references. The sources cover various aspects of global business, such as institutions, law, and policy, as well as market orientation, innovation capability, and cultural dimension. The assignment also touches upon social responsibility and sustainable development in international business.

Global Business
Environment

Table of Contents
INTRODUCTION...........................................................................................................................2
TASK 1............................................................................................................................................3
P1 Key factors which drive Globalization..............................................................................3
M1 Critically analyses the impact that key factors have upon the global business environment
in terms of benefits and challenges........................................................................................5
D1 Critically evaluation of global business environment, including the opportunities and
challenges faced by organization............................................................................................5
TASK 2............................................................................................................................................5
P2 Strategic Complexities associated with operating in a global environment......................5
M2 Critically analyse strategic challenges in context of risk and diversification strategies and
the supply chain flow .............................................................................................................7
TASK 3............................................................................................................................................7
P3 Influences of globalization on organizational governance and leadership, structure, culture
and functions. .......................................................................................................................7
P4 Influence of ethical and sustainable globalization on organizational structure ...............9
M3 Analyse how stakeholder engagement and contribution can support positive employment
relationship within an organisation......................................................................................10
TASK 4..........................................................................................................................................10
P5 Various ways through which decision making can work effectively in global context..10
P6 Various routes to internationalisation an organisation may adopt, including key barriers11
M4 Evaluation of key barriers in doing business internationally and recommendations to
overcome it...........................................................................................................................13
D2 Critique strategies that can be adopted by organisations operating in a global business
environment..........................................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
.........................................................................................................................................................1

INTRODUCTION
Globalization is a culture in which a country becomes less powerful when compared to
other countries. It is a method of communicating with different countries and people to set up a
business on an international scale. There are basically three types of globalization which are
political, social and economical globalization. Global market refers to doing business across
boundaries in which a company takes a commercial advantage which includes global operational
differences, opportunities and similarities so that they can meet targets and objectives of global
market place. This report is based on meeting local needs is an important factor for performance
of a business in Siemens'. It is a global electrical and electronics business whose turnover is £53
billion. Company is headquartered in Munich, Germany and its products are power generation
technology, industrial and buildings automation, medical and many more. From Munich,
executives oversee work carried out in name of Siemens across different countries. This
assignment analyzed key factors of globalization and strategic complexities associated with
operating in global environment (Apăvăloaie, 2014). Influence of globalization and influences
of global market on an organization's structure, functions and culture is been discussed.
TASK 1
P1 Key factors which drive Globalization
Globalization refers to change in domestic activity according to geographical boundaries
across different countries and away from its own country. It is also defined as non dependence of
economies by medium of exchange of goods, services technology and capital across the
countries. This can also be termed as integration which can be observed by multinational
companies when they do their business expansion into different new regions. There are basically
four main elements which drive globalization which are cost, market, environment and
competition. These are external drivers that impact crucial conditions for capacity of
globalization within different countries and these do not have a control by firms (Axelrod and
VanDeveer, 2014).
Cost: Recently, as there is penetration in new markets and human capitals with help of
advantage of cost drivers, a firm can have competitive advantage by providing economies of
scale through importing and outsourcing at higher quantities and determining importance of low
cost production. In context with globalization, increasing their capital will be helpful for many

international companies. Through this it has been analyzed that Siemens' is not capable enough
to provide other subsidiaries countries with economies of scale so its aim is to gain mileage from
investment cost. Along with this advertisement and promotion should be done across countries
so that people can have knowledge and can learn about products and services available.
Opportunities of cost will result in tough decisions related to markets, concentrating on product
positioning, customer segments and proper strategies to be followed while doing international
business. Siemens' provides products which are similar to their competitors but comparatively at
a lower price which lead in investing in economies of scale and having control over costs that
includes overheads, research and development and logistics (Belás and et. al., 2014 ).
Market: Drivers in market which affect globalization involves factors like similar
customer needs and transferable marketing where stepping up of global markets for branded
products has helped corporations to supply demands in new market place with its current
products. Nowadays customers are aware about basic topics such as education, lifestyles,
income, aspirations and utilization of their precious time. Siemens' analyses customers in
different countries who are willing to spend high and have a developed infrastructure. They do
not provide products all over the world but they decide areas where can spend resource and do
expansion of their business. Company does regional grouping by selecting different regions and
then countries within them. Information from markets are helpful in conditions where an
organization is combining markets related to current structures and frameworks (Belás and et. al.,
2015).
Environment: Drivers in business environment that affect globalization involves
imitation of pollutants and wastage that is harmful for environment. With an increase in wealth
and mobility information is rapidly transferring across different countries which eventually leads
to promotion of importance of globalization and revolutions of technologies that will increase
demand for products and services of an organization. The new bureaucracy allow companies
which are born globally to easily enter and conquer in new market place and manufacture new
products or change their strategies as per the requirements of a condition or situation. Siemens'
should produce and manufacture electrical appliances which is Eco friendly and should make
products that can be recycled. They are making products which has less fuel consumption and
do not pollute environment (Carneiro and Brenes, 2014).

Competition: Competitive drivers such as increasing of trade among nations and Foreign
Direct investment at a same time has benefited in gaining interdependence between countries and
organizations and revealing companies in front of new competitors. To have sustainability in
competitive market place, Siemens' launched, modified and sell new products quickly and they
do not believe in remaining ahead of risks faced in competition and observing that their research
ideas are not being utilized by other competitors within market place. They have manufactured
many global brands and a demands for those brands and a supply chain which helps a company
to fulfill those demands in a market place (Cavusgil and Knight, 2015).
In the context of Siemens, all such factors are directly affect on business operations and
its functions while doing expansion in large market place. These are such drivers which are
helpful in analyzing whole market in order to reach with desired customers (Carneiro and
Brenes, 2014). They are make proper modifications and change in electrical items which are
helpful in gaining attention of large number of customers. Along with this, respective company
are analyze such factors which includes cost, environment, technology, market and competition
that are directly impact on business operations and its functions.
M1 Critically analyses the impact that key factors have upon the global business environment in
terms of benefits and challenges.
According to views of Crane and Matten, (2016) Globalization helps an organization in
purchasing and selling products and services in a global market without any trade barriers. It will
helps in increasing customer reach and improving productivity of an organization for longer
duration. In this context, there are four main element i.e. cost, market, environment, competition
which have a huge impact on global business environment in terms of benefits and challenges.
The main benefit of these elements is that, it helps in gaining competitive advantage in a
dynamic business environment. In terms of challenges, it makes an organization in adopting new
technologies.
D1 Critically evaluation of global business environment, including the opportunities and
challenges faced by organization.
According to study of Doh, McGuire and Ozaki, (2015). it is analyzed that Choosing
right countries for a successful international trade of a business one must be aware about
countries where they can expand their business for growth. Siemens' need to determine
drawbacks and benefits of exporting products to foreign countries and should also analyze

markets which are most appropriate for business expansion within that country. This will help
them in growth of a business and also to meet requirements of customers
TASK 2
P2 Strategic Complexities associated with operating in a global environment
Strategic complexities means pressures that extract influence of decision-making process
within an organization which help in future success of a business. There are basically two types
of strategic challenges which are external strategic challenges and internal strategic challenges.
When Siemens' trade globally they face strategic complexities which are mentioned below.
 Physical Distance: Though people have internet and mobile phones to interact with
people across different countries but it cannot match or give effective results when
compared to live communication of people. When people communicate with prospectus
and distribution partners they will determine costs that will spend on doing business at a
long distance. In context with Siemens' since they are not able to connect directly with
people they fail in acquiring cost for their electrical appliances and sometimes are not
able to analyze requirements of different countries market and people. Unfamiliar cultures: As business is expanded in other country many organizations are
not familiar with other countries cultures. In Siemens', they are not aware about common
behavior of people of different countries where they need to expand their business and
ways in which people communicate with each other in a social setting. To overcome this
challenge company has influence people who can become their customers (Cohen and
Kietzmann, 2014).
 Mastering Markets: An organization must be aware of the buying strategies followed by
customers of countries where they need to expand their business. In Siemens' it is
important for them to learn about perspective of customers. It will help them to
understand needs of customers which will lead to successful international trade of
business. One of most important factor for being successful in international market is
trans creation. This will help in adjusting a company's strategy or content in a new
foreign market. This can be treated as a challenge for Siemens' as if company is not
aware about requirements of customers then they will not able to satisfy customers which
will lead to decline in profits and revenue generation of the company.

 Organizational communication: Successful international trade of a business depends on
the way an employee of a workplace communicate, report and track their efforts. In
Siemens' they need to have a proper system and combination of protocols within an
organization so that it can monitor the process of international expansion because there
no individual as a person is involved in this to manage (Crane and Matten, 2016). Tariffs and export fees: There are many countries which takes exporting charges from
companies to bring goods into their region. Siemens' must be aware about tariffs and
export charges of countries where they need to do expansion so that they can incorporate
them into plans related to finances element while making plans for globalization. Also
company needs to pay various kinds of charges for transportation as well as shipping
depending upon logistics laws in place of that particular country. Human Resources: When a company trades globally they must be aware about human
resources they will need in operating in a different country. In Siemens', company must
recruit new employees who can trade across global markets which will lead to an extra
investment by a firm. In case, company will utilize their existing employees to trade
globally they need to fill up vacant places for roles that will be emptied.
 Choosing right countries: For a successful international trade of a business one must be
aware about countries where they can expand their business for growth. Siemens' need to
determine drawbacks and benefits of exporting products to foreign countries and should
also analyze markets which are most appropriate for business expansion within that
country. This will help them in growth of a business and also to meet requirements of
customers (Doh, McGuire and Ozaki, 2015).
On the basis of above described data, there are various strategic complexities which are
operated and regulated in global business environment. The physical distance create issue for
operating business in another country and it will difficult for smoothly run of business functions
in the large market place. Other factors also impact on regulated Siemens company's functions
and its current activities. As per the view of Wolfgang Amann, global organization are face a
complex decision among environment and this will create diversity of cultures, customers, rivals
and regulations are create difficulties in front of respective firm.

M2 Critically analyse strategic challenges in context of risk and diversification strategies and the
supply chain flow
According to the views of Kasemsap, (2015), it is evaluated that Strategic challenges
relate to consumer needs and their expectations. There are some product and technological
challenges which can hamper growth of company. There are some pressures that influence
organisation success. There are two types of challenges internal as well as external challenges
which decrease company functions. External challenges means consumers and market challenge
whereas on the other hand internal challenges includes financial and production related
challenges. There are many types of difficulties faced by an organisation which they have to
overcome. By implementing various strategies they can overcome challenges in context of risk.
Company can also use these strategies to develop their supply chain flow in order to make
internal as well as external development.
TASK 3
P3 Influences of globalization on organizational governance and leadership, structure, culture
and functions
Globalization is a process in which a business can be expanded in international markets.
With help of globalization different countries people interact and come in contact with each other
to do business internationally. There are various influences of globalization on organizational
governance and leadership, structure, culture and functions which are been discussed below.
Organizational governance: It is set of rules, regulations and practices according to
which a company is monitored and controlled. In Siemens' they need to know ethics of business
so that they can trade globally. For operating business internationally a firm needs to be aware of
combination of rules and regulations where they need to do their business. As every company
has its own set of ethics to be followed while operating a business they need to change their rules
and regulations for doing international trade. Every country has its own set of rules and
regulations which is needed to be followed by every company for doing business within specific
region (Epifanova and et. al., 2015).
Leadership: It is a process of directing and monitoring a group of members within a
workplace. In globalization as various country follows different leadership styles, it is not
necessary that a leader of a specific country will prove to be good leader of another country as

well. As different countries have their own culture, beliefs, customs and social trends and it is
benefited for a leader to acknowledge and relate to them. An individual who is aware of with
country's customs, ethics and traditions will gain an effective leadership to business. In Siemens'
an employee must be trained according to specific culture of a country where they need to do
expansion so that they can be respected in country and do successful trade of business. The
globalization on leadership assist in influencing style of leadership in the context of Siemens AG
that are described through situational theory. There are different situations which are occurs
within an organization and in this leader require to select best course of action that are based on
situational variables. The globalization can lead towards dynamic changes in each organization
as well as business.
Structure: Structure refers to organizational structure of a business. Structure includes
top level mangers, middle level manager and lower level managers of an organization. When a
company trade internationally they tend to have a change in their structure. In Siemens' when
lower level mangers does work of a higher level managers their structure changes. As higher
level managers are given roles for trading international their vacancy needs to be fulfill by lower
or middle level managers which eventually leads to change in structure of an organization.
Siemens AG is the German multinational conglomerate company which headquarter is situated
in Munich and it is industrial manufacturing company in Europe. The globalization on structure
can be vary from one to another that are explained through McKinney's 7S model.
Culture: For trading globally company needs to recruit people from various backgrounds
will have diversified culture of people that will have their own way of solving problems. As New
employees will have new skills and knowledge and old employees will have nominal skills and
knowledge there will be gap analysis between employees. In Siemens' employees with different
culture will give new ideas and has different perspective of risk obsolescence or termination
(Ferraro,and Briody,2017).
Function: Globalization has impact on different functions of an organization. Trading
globally will have change in marketing as well as operating function of an organization as new
technologies need to be introduced for doing business globally. Moreover, human resource
function will also be impacted as new employees must be hire for trading internationally or
filling vacancy within a workplace. In Siemens' globalization has influenced marketing function
as when company needs to export across countries they need to make promotional strategies

according to culture of specific country where they need to do expansion. With help of this they
will get to know about country's market and can make products according to requirement of
customers or market (Huhtala and et. al., 2014).
P4 Influence of ethical and sustainable globalization on organizational structure
Business ethics is a method of implementing ethics that analyses ethical problems that are
aroused in a business environment. Ethical decision making can be treated as hurdle in business,
in government and even in daily lives. Recently companies have faced many ethical issues which
gave growth to business and environment. This provide more markets and business opportunities
but has also lead to duplication of products, child labour, malpractices of business,
environmental issues and money laundering. To resolve such issues business must implement
business ethics as an element of programs and alliances of business. Along with involving ethics
in a part of decision making process. Business ethics helps a company to have a competitive
advantage as well as to have sustainability within market place.
Sustainable globalisation describes a breakthrough and fundamental modification on the
way people trade across different countries. It raises from a zero sum, selfish, approach of win
lose into one which will consider full account of short and long term impacts of actions of people
in context with ecosystem on a larger system which consider human as a part and value effective
and efficient use of natural resources. This encourage local communities in creating their
careers. It is a principle which is centred and operates on foundational values of service, triple
bottom line and collaboration. These influences of ethical and sustainable globalisation helps to
have a competitive advantage over other rivals and to maintain its resistivity in market place.
An organisation present in an environment with various factors that will play role which
influencing their success and growth. Globalisation develop various new opportunities and
threats for firm as the international environment which is highly competitive (Apăvăloaie,
2014). There are external and internal environment forces which directly affect business
operations. It is the arrangement of business which includes organisational performance, culture,
function and structure.
M3 Analyse how stakeholder engagement and contribution can support positive employment
relationship within an organisation.
Stakeholders can help organization to increase their market value in marketplace.
Company by having high goodwill and share value in external market can able to perform in

better way. As stakeholder is an important part of every organization to perform well. Their
engagement can enhance company position. It can also help to support positive working
employment relation in an workplace. High brand value increase company overall growth and
help them to increase their profit. Stakeholder are one the most integral part of company as with
their help company can generate high productivity. Effective working condition within company
marketplace can also be created with engagement of stakeholder.
TASK 4
P5 Various ways through which decision making can work effectively in global context
Globalisation helps an organisation in enhancing their overall growth and also in
increasing its customer reach at a global level. In this regard, the main function of leaders and
managers of the chosen organisation Siemens is planning, organising, directing and controlling
various business activities. It is also essential for an organisation to make effective decisions
because globalisation increases competition in a business market. Effective decision making
helps Siemens in sustaining their productivity for a longer run as compared to their competitors
in a business environment. There are different ways of decision making which will helps
Siemens in working effectively in a global context, which are described below:
Collaboration: It is the way in which one organisation take decisions by coordinating
with another one. It is an helpful way as decisions are taken with the mutual understanding of
two or more parties as a result they are able to take right decision. As a result, organisation can
take effective decisions while performing business activities at international level.
Convenience: This term is also seen as the way of influencing another organisation by
having good command over the same thing. It can be said if an organisation performs their
business activities at global level then it is important for them to convenience another business
related person for taking effective right decision which is beneficial for both of them.
Command: Decision making can also be taken in effective way if organisation have
command over the market where they are performing business activities in international market.
This command can be in the form of monopoly as it helps in taking right decisions.

So according to the above scenario, collaboration, convenience and command are
beneficial for chosen organisation Siemens to work effectively in a current business
environment.
From the above described report, it can be analysed that there are various ways through
which decision making can work effectively and efficiently with the help of analysing whole
market place. With the help of collaboration, company can easily understand and evaluate
decisions which help them in reaching with desired customers in better manner (Belás and et. al.,
2014). Different ways involves collaboration, convenience and command are helpful in
developing effective decision making for make work in the global market place.
P6 Various routes to internationalisation an organisation may adopt, including key barriers
Globalization is a process doing international trade across different countries. There are
various key barriers involved in globalisation along with routes top internationalisation an
organisation which an be adopted by a company is being discussed
Key barriers
Different key barriers such as lack of funds, culture and lack of innovation are being
mentioned below:
Lack of funds – Funds are foremost factors of business. They depict overall health of
company and are important in growth of managing business. Growth reciprocate to
capitalization, location, employees, innovation of new product or services being offered, these all
depend on funds. If proper funds are not available then this can lead to decline of products being
offered by company and decline in shares. To build capital current liabilities should be lesser
than current assets (Kolk, 2016).
Culture – Difference in culture will help in determination of whether business will be
successful or unsuccessful. If product do not meet requirements or desires of local market then
there is no use of being in market. Value of market and community is foremost thing which
Siemens AG will have to understand. Culture include understanding of following aspects -
 Lack of information of of emerging market or profitable market.
 Problem with respect to entry in foreign market. Distribution and promotion of product
overseas.
 Desire and requirement of locals for your product.
 If cultural and language differences are present then how these can be overcome.

 Management of time with respect to different time zone.
 Affect of religious or lifestyle or diet on business.
 Negotiation of agreements and contracts.
 Limitations with respect to business.
 Promotion of product in market (Peng, 2016)
 Rude or offensive behaviour when considering local consumers.
Lack of Innovation – Profit depend on ability of employees to generate solutions and
implement those solutions. Diffusion, scaling and shared vision, purpose or strategy are foremost
factors which are responsible for lack of innovation. Lack of resources, new ideas, systematic
innovation process is absent, shifting priorities are important factors which affect innovation
(Savrul, Incekara, and Sener, 2014).
Routes of Internationalisation
To drive growth, international expansion plays an important role. Basically it refers to
involving business at international level. Domestic market has become deficient due to scale of
economy and various opportunities available at international market. Successful executive will
always expand their business in any other country to increase revenue or capital investment.
Franchise and joint ventures are effective for ambitious market entrants but they should plan
exit.
Franchise – It is emerging of capabilities and resources to obtain distribution, strategic
marketing and sales goal of a franchisee. Franchising refers to decrease dependence on domestic
business. By using franchising there is less risk of expanding business and requires minimum
investment. Foreign master franchise pay a lot of amount to achieve a specific position in a
geographic area. Franchising is the based on marketing concept which can be adopted by
Siemens AG as a strategy in order to expand business operations and its functions. The
respective company required to analyse its market factors which can negatively impact on
business activities. They required to follow basic procedure where they sell their goods and
services among customers.
Joint Venture – It refers to pooling of resources for completing specific task by two or
more companies. Task can be anything like working on new project or business activity and each
partner is responsible for loss or profit and cost associated with each project. They are defined by
shared ownership (Wild, Wild and Han, 2014). A joint venture is the business arrangement

where two or more parties are agree to share their resources which main purpose is to reach with
desired goals and target of Siemens AG. They can used this strategy which help them in
achieving common predetermined objectives effectively. It is useful for growing faster,
increasing productivity and generate higher profitability.
Acquire new venture – Acquisition is situation when company buy shares of other
company to acquire it. Company gets ownership of other company when they acquire 50% of
their shares. Buying a company in international market will change company's status to local and
all benefits which are given by government to local market will be given. It is required for
Siemens AG is to acquire new venture in order to gain maximum profitability and income.
Acquiring company involves a business and changing it for different way in order to reach with
business goals and targets. This strategy is used for buying a company and target both cease to
exist and instead of new form of combined company.
It can be analysed that there are various key barriers which directly affect on business
operations and its functions in order to face major challenges. This can be concluded that lack of
funds, lack of innovation and cultural differences. Difference in culture will help in
determination of whether business will be successful or unsuccessful in the whole market place.
According to the view of Robert Azuay, For enter in large market place, there are various routes
which are helpful in expanding business. In current market place such as joint venture, acquire
new venture and franchise. Siemens can adopt joint venture method which can be help them for
enter in another country.
M4 Evaluation of key barriers in doing business internationally and recommendations to
overcome it
The company faces cultural barriers in an organisation as there is lack of understanding
languages of different countries there will be difficulty in understanding different cultures of
country as well. This challenge can cause conflict within an organisation and create loss for
business. To overcome or resolve this issue one can have knowledge about the culture of country
in which he is doing expansion and hire advisors who can adapt and have knowledge about
different cultures country in which international trade needs to be done. They can keep experts or
hire people from that particular country to have all the details of culture of specific country.

D2 Critique strategies that can be adopted by organisations operating in a global business
environment.
Global business strategy can be adopted by Seimen while performing their business
activities at global market. This strategy mainly focusing on engaging two or more businesses at
international. It also helps in achieving long term and short terms goals and less period of time. It
has been recommended to the company to adapt this strategy as it helps them in achieving their
targeted goals and objectives.
CONCLUSION
From this assignment it can be concluded that doing international trade helps a business
in increasing sales as well as performance of an organization. Moreover it helps in gaining
profits for a company and having a competitive advantage within a market place. But to expand
their business globally it is important for an organization to determine its internal as well
external factors of environment. As these factors can have tremendous impact over a business in
a negative and positive manner. By implementing rules and regulations in business of different
countries will help in successful trade of business globally and can have a competitive advantage
where they want to expand their business. It also includes key barriers and routes of
internalization an organization may adopt.

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Globalization Challenges for Businesses. 2018. [Online]. Available through
:<https://yourbusiness.azcentral.com/globalization-challenges-businesses-22245.html>.

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