Global Business Environment Assignment (Doc)
Added on -2020-07-22
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Global BusinessEnvironment
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1. Key elements of cost, market, environment and competition that drive global commerceand trade......................................................................................................................................1P2) Complexness of strategic challenges faced by organisation while operating in globalenvironment.................................................................................................................................3TASK 3............................................................................................................................................5P3) Cause of globalisation on organisational governance and leadership, structure, culture andfunctions......................................................................................................................................5P4) Effects of ethical and sustainable globalisation on organisational functions.......................7TASK 4............................................................................................................................................9P5) Various ways through which decision making can work effectively in global context.......9P6) Assorted routes to internationalisation which can adopt by organisation, including keybarriers.......................................................................................................................................10CONCLUSION .............................................................................................................................12REFERENCES .............................................................................................................................13
INTRODUCTIONGlobal Business environment can be considered as the environment in various sovereigncountries, through factors exogenous to the home environment of the firm which is influencingthe decision making on utilisation of resources and capabilities (Apăvăloaie, 2014). This alsorefers as the area in which large number of companies of various sectors provide competition totheir competitors through enhancing their profitability and productivity in the internationalmarket. In the modern era the major purpose of each business organisation is to exploring theirbusiness or its various operations at international level in respect to attaining high profitabilityand revenue. The Entertainer is the chosen organisation for this particular report it is a UK basedtoy making company. The major purpose of firm is to expand their business activities in SouthAfrica as to attaining more profit and revenue. This report contents the study about some keyfactors related with cost, market, environment and competition, various complexities of strategicchallenges faced by firm, the influence of globalisation on organisational governance andleadership, the influence of ethical and sustainable globalisation on organisational functions willalso be discussed in appropriate manner. TASK 1P1. Key elements of cost, market, environment and competition that drive global commerce andtradeIn the modern business scenario each business organisation is concern on exploring theirbusiness or its activities at international level in respect to creating awareness about the productor services at market place. Business expansion helps in creating high growth and profitability atmarket place. Global environment is a crucial concept which needs to be understand by eachbusiness organisation in order to carry out their business operations in well planned andsystematic manner. At the time of expansion of business at international level organisations facesvarious kind of issues and conflicts such as legislations, competitors, taxes and governmentpolicies (Axelrod and VanDeveer, 2014). It is necessary for each business enterprise to takingvarious elements related with cost, marketing, competition and environment in to proper actionas to enhancing the productivity and profitability at market place. The cost and prices of productsare increased while an organisation enters into an international market, so it is essential for1
business organisations and its management to analyse the market condition and customersacquirements before expanding their business operations at an another geographical area. Themanagement department of Entertainer is concern on adopting various measures that helps inminimising the extra cost of product so that firm can attain higher amount of profit at the marketarea of South Africa. The most essential elements are described as under: Market: Market can be considered as a place where large number of people gathered for sellingand surcharging goods and services in respect to satisfying their needs and wants. It is requiredfor an organisation to identify the culture, environment and customers need before expansion ofbusiness or its operations at large scale. Culture and environmental aspects are needs to beunderstand in respect to enlarge business operations at international level (Belás and et. al.,2014). Market is the most essential aspect of business as it is required for an organisation toidentifying the target market in which the need and demand of products and services are high.Proper information about market helps in gaining the attention of customers towards the firm. Asa developing company Entertainer needs to identifying the needs and wants of people as toproviding them satisfaction through offering variety of goods and services as to sustainingcustomers long run of business activities. Environment: This is another essential element which is required for an organisation to betaking into proper action. It is essential for organisational management department to analyse theenvironment as to implementing all business operations in appropriate manner. Environment hasa huge influence on organisational productivity and performance. It is necessary for firm or itsauthority to analyse the internal as well as external environment in respect to organise theirbusiness function at a new geographical area. This is effective in expansion of business andbeneficial for attaining more profit. The management department of Entertainer apply PESTLEanalysis in respect to properly analyse internal as well as external environment of market so thatexpansion in South Africa can be done in appropriate manner. Cost: While growing business at global level it is required for a venture to find every one of thecomponents which may help them in decreasing costs of items and administrations. This mayhelp them in getting consideration of customers in sufficient number. Alongside this, it has beenexamined that making quality items with less sum each and every client searches for. Hence,targets can get hit by administration by thinking about every one of the prerequisites ofpurchasers, Away from this, it has been inspected that when a firm enters universal level there2
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