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Global Business Environment Report - Nike

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Added on  2020-06-05

Global Business Environment Report - Nike

   Added on 2020-06-05

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GLOBAL BUSINESSENVIRONMENT
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Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3P1 Analyse key factors of cost, market environment and competition that drive globalcommerce and trade ...................................................................................................................3TASK 2 ...........................................................................................................................................5P2 Complexity of strategic challenges faced by company in global context .............................5TASK 3............................................................................................................................................6P3 State the influence of globalization on organizational leadership, structure, corporategovernance, function and culture................................................................................................6P4 Influence of ethical and sustainable globalization on organizational function .....................7TASK 4............................................................................................................................................8P5 Evaluate the ways in which decision making work effectively in global context.................8P6 various routes to internationalization and its key barriers ..................................................10CONCLUSION .............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTION The concept of Globalization is not new to industry. It has mutated and evolved over thecenturies that basically reflects the ambition and priority of different generation or countries. Incontext of business the term “Globalization” refers to the concept of integration of internationaltrade, culture, information technology and investment (Voegtlin, Patzer and Scherer, 2012). It ismainly driven by Government Bodies of a particular country in order to raise the standard ofliving of people by opening up their economies with other countries in an effective manner. Insimple words, it refers to the process by which an organization starts operating their businesspractices on international level. It implies the opening of nationalistic and local perspective to awider outlook of an inter-dependent and interconnected nation with free transfer of goods,services & capital across national boundaries. This report talks about how Globalization hasaffected Nike’s performance which is an American multinational company, famous for sellingsports footwear, apparel, equipment’s etc. It also talks about its on impact on various key factorssuch as cost, market environment, strategic challenges faced by company, influence of ethicalglobalization and how decision making help in achieving business objective in global context. TASK 1P1 Analyse key factors of cost, market environment and competition that drive global commerceand trade Nike Inc. is an American multinational corporations which deals in various activities such asdesigning, developing, producing and selling different items to the customers at global level. Asit sells footwear, apparel, equipment’s and accessories in the market place. There are variousplaces where its store exists. This firm can expand their business at those places where no anygrocery item, footwear and more products available. Therefore, there is demand for these kindsof products. If company wants to enter in new market then it may be find various factors that cancreate barriers as well as conflicts for starting any firm. It must be required to conductenvironmental study for gathering data regarding new market place as it helps in analysing newcustomers, competitors and trends during this study (Ferraro and Briody, 2017). It is an essentialfor making decisions regarding business expansions at global level in appropriate manner.Company can reduce various internal and external forces while starting the business in different
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countries because environmental studies support in controlling and managing all forces in betterway. There are some key factors of global business environment such as:Cost: It generally refers to money or other expenses that can effects on the businessoperations. This force is related with various currencies of different countries so it has majorimpact on the business activities such as purchasing and selling of goods and services in the newmarket place (Wild, Wild and Han, 2014). Nike Inc. there may be major impact due to economyrate which influence directly on the product's prices. In this consider country's tax rates, policiesand inflation rates that increase then costs of goods and services. Nike has to focus on variousrules and laws as well as cost factors while entering into new market.Market: It is an important factor which is very useful for promoting the products andservices into new marketplace. It must be required to identify about complete new market as wellas study for analysing market trends and conditions for selling different products and services.Every company conducts these kinds of study or research and survey process for environmentalscanning and identify the market trends by gathering data through research so that they can makebetter decisions regarding business expansions. Nike Inc. required to study about particularmarket as country's culture, people and their preferences so that company can serve as per theirdesired needs and satisfy them in effective manner. Every country has different culture andtraditions and also people live according to their culture. Therefore, better study will support infinding potential customers for particular goods and services.Environment: It is most important and biggest factor that directly affects on the businessoperations as every firm has surrounded with different climates or atmosphere. There are variousforces of environment such as internal and external that affects on the operations or entering newmarket. It is flexible or dynamic in nature so these factors can change according toenvironmental impacts. Sit must be requires to find the effects and work according to it. In otherwords, both forces can effects on the decision regarding business expansions as well as itselements can effects on the organization. Competition: whenever starts the new venture or expand existing company at anotherplace so it must be requires to know about their competitors in the new market. It is also anotherimportant factor for expanding business because there are cut throat competition and also havebig or famous brand image in the market (Hamilton and Webster, 2015). It may be difficult toenter in the market and attracts numbers of customers towards organization products and services
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