Table of Contents INTRODUCTION...........................................................................................................................1 LO 1: The key factors which drive globalisation.............................................................................1 a) Analysis key factors of cost, market, environment and competition.................................1 LO 2: Strategic complexities associated with operating in a global environment...........................3 Introduction to the concept of globalisation...........................................................................3 Driving factors of globalisation..............................................................................................3 Pestle analysis of Cameco......................................................................................................4 Complexity of strategic challenge faced by the enterprise.....................................................5 Recommendations..................................................................................................................5 LO 3: Operating in a global market influences an organisation’s structure, culture and functions6 a) Evaluate influence of globalisation on organisational governance & leadership, structure, culture and functions..............................................................................................................6 b) Evaluate influence of ethical and sustainable globalisation on organisational functions. .7 LO 4: Evaluate the influence of globalisation on organisational decision making and strategy.....9 a) Different ways of decision-making that can work effectively in global context...............9 b) Determine and articulate various routes in internationalisation of an organisation to adopt and include key barriers........................................................................................................10 CONCLUSION..............................................................................................................................13 REFERENCES..............................................................................................................................14
INTRODUCTION Strategic direction consist important role in the business success. In this regard, global strategy defined in business terms that assist to take strategic guide in globalisation. When businesses operate in global scale, it increases client base and their traffic from bottom line (Noe, Hollenbeck and Wright, 2017). Increasing several numbers of customers in a particular company has an effective way to develop mos. Present study based on Cameco Corporation which is the world's largest publicly traded for Uranium and electricity products. Furthermore, the company determined successful operations and functions on concentrate at pricing formula based. For gaining insight information of the present study, it can be stated that there are several key factors exists that are drive with globalisation such as cost, market, environment and competition. Furthermore, it includes complexity of strategic challenges that are faced by the organisation. Moreover, it considers influences of globalisation on organisational government. In addition to this it covers various routes to internationalisation of an organisation which adopted by the business. LO 1: The key factors which drive globalisation a) Analysis key factors of cost, market, environment and competition Globalisation is the process of integration and interaction of people, governments and companies. The process aid in increasing transfer, expansion of foreign direct investment, and rising impact of wealth funds. Globalisation has become important in modern era as it supports acceleration of cross border movements of information, ideas and goods. Further, the process has become essential part of era as it is leading to integration of economic, political and cultural factors. Also, it is important for millennials as it supports team work and multi-cultural learning. Drivers of Globalisation Communication:Inventions in the area of microprocessors and telecommunications enabled highly effective computing and communication at a low-cost level. Further, Internetis the latest technological driver that created global e-business and e-commerce. Transportation:Increasing trade across borders has boosted the mode of transportation with the motive of minimizing cost and time of transfer. 1
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Government Intervention:It denotes in changing political factors like liberalized trading rules and low tariffs with the motive of allowing FDI. Further, institution of GATT (General Agreement on Tariffs and Trade) 1947 has opening in privatization in Eastern Europe. Migration:The factors is driven by demographic and economic forces which reflects labourmigration like free migration of labours across the globe. However, monopolistic advantage theory is an approach to international business which helps the firm in determining capability to compete with competitors across the globe.With increasing globalisation. Implication of theory inCameco Corporation can assist the firm in deriving monopolistic advantages to operate subsidiaries across international boundaries with profits in comparison to local business. In accordance with this approach it is important for the firm to focus on managing superior’s knowledge of foreign market and deriving economies of scale via vertical and horizontal FDI. In order to determine globalisation in Cameco Corporation, it can be stated that there are several benefits in developed countries ascertained with desired level of effectiveness. In this consideration, several numbers of factors influence to the business. They are as follows:Cost: Cost is one more element that influence global business in large consideration. In this regard, it can be stated that across the different areas process of procuring goods, services and capital determined in several advantages (Kuratko, Hornsby and Hayton, 2015).CostdriverswithincreasingglobalisationdenotesopportunityCameco Corporation for building global scale and high product development cost.New Market: In international market, there are several elements exists that influence to the business environment in large consideration. With this consideration, it can be stated that companies of all sizes are establishing several operations in foreign areas (Grant, 2016). This new market is a type of expansion provides several advantages which increase more opportunities for market growth and diversification towards Cameco Corporation.Environment: Within international areas, there are several functions and operations exist that influence Cameco Corporation and impacted by many factors included in it. In global areas, the company facing issues and problems such as natural disasters, population growth, pollution, etc. (Annarelli and Nonino, 2016). All these aspects create large impact on functions and operations of the organisation. 2
Competition:Withrespecttoremaincompetitive,globalrivalshaveintensified marketing in each areas of the business environment. In this consideration, sustainable advantages can be successfully gained to deal in worldwide operations and functions. Hence, Cameco Corporation introduce, upgrade and distribute several products faster (Epstein, 2018). Competition across international boundaries is supported by strong interdependences across boundaries, two-way trades and actions of FDI. In accordance, with the discussion, it can be said that globalisation has led to wide range of change in business and their services. It offers growth and opportunity on large scale where it is important for the firm to focus on drivers of globalisation influencing business. LO2:Strategiccomplexitiesassociatedwithoperatinginaglobal environment Introduction to the concept of globalisation Globalisation can be defined as the process through which organisations or businesses develop international influence or begin to operate on a global scale. It refers to the integration of markets within the international markets in the global economy, resulting to the enhanced interconnectedness of national economies.Globalisation is the term which is used to describe increasing social, economic and political interaction. It also considered interrelationship across thepoliticalandculturalboundaries.Processofglobalisationconsideredadvantagesand disadvantagesforsocial,politicalandeconomicdevelopment.InCamecoCorporation, globalisation describe way to integrate and interact and make international trade easier. Driving factors of globalisation Digitalcommunication–Theinternethasdramaticallyloweredthecostof communicating and transmitting information. Digital communication has stimulated global trade in knowledge product for example, outsourced media content and series, software etc. 3
Low transport cost – Costs of ocean shipping haver come down, due to bulk shopping, containerisation and other efficiencies. This assists in bringing prices in the country of producer closer to prices in the export market. Higher profit and stronger position as well as market access in global markets. Containerisation :With respect to considered cost of ocean shipping, it can be stated that due to containerisation, bulk shipping and other efficiency it comes down. Lower unit cost of shipping products in the world successfully develop to bring price in the country to make markets more contestable. Technological change :Rapid and sustained technological changes diminish cost of transmitting and communicate information. Key factor behind the trade in knowledge products for using web technology in Cameco Corporation. Economies of scale :Many economists believe that there is increase minimum efficient scale that is associated with some industries. When it is rising, domestic market may be regarded for satisfy selling needs of industries. Differences in tax systems :Desire of the businesses is to beneficial from lower unit labour cost and other favourable production factors. In this consideration, countries are encouraged to adjust ex systems that helps to attract foreign direct investment. There are many nations engaged in tax competition between each other so that lucrative foreign investment project need to be looked. Impact of digital technology on globalisation Development in technology have significantly facilitated globalisation, in fact progress in technology has been one of the major forces driving globalisation. Technological innovations force organisations to become global by enhancing the economies of scale and market size needed to break even. Technological development helps in reducing cost of communication and transportation across countries, and thereby facilitate global sourcing of raw materials and other 4
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inputs. Patented technology motivates globalisation as the organisation owning patent can exploit international or foreign markets without much competition. Facilitate to globalisation :Advancement in technology helps to considered facilitates which determine technological progress in systematic manner. In this regard, Cameco Corporation can progress with main forces of driving in globalisation. Technological breakthrough compel to become global and increasing economies of scale. Reducecostoftransportationandcommunication:Furthermore,technological advancement reduce costs of transportation and communication across the nations and it is facilitated with global sourcing of raw material and other input. In Cameco Corporation patented technology helps to encourage globalization so that they can exploit foreign market without competition. Emergence of the global village:Information technology has led with emergence in global village. Therefore, world wide web reduce barriers of time and place to deal in business. Buyers and sellers of the chosen business can make transactions to determine technological changes that affect investment as well. Outsourcing labour intensive services :High technology production was limited to facilitate countries with more wages. This is because, new technology easily transferable in developing nation. They can easily combine with low wages so that large numbers of firms deal in advanced for outsourcing labour intensive services. Pestle analysis of Cameco PESTLE analysis is strategic tool that considered in macro environment of the business. It is stand for political, economic, social, technological, environmental and legal factors. They are as follows: 1.Political factors– Political factors plays a vital role in determining the factors that can influence Cameco corporation’s long-term profitability in a specific market or country. 5
The organisation is operating in metals and minerals industry in various countries and exposing itself to several types of political environment & risks. These factors include Risk of military invasion, level of corruption, tax rates, pricing regulations etc.UK is considered as popular destination as per FDI. The decision of Britain exit from WU is awaited while made pound weaker and there is an uncertainty of future trade restrictions. 2.Economic factors– The external environment factors like saving rate, inflation rate, foreign exchange rate, interest rate determine the aggregate investment and demand in a particular economy. Cameco corporation can utilise country’s economic factors such as inflation, growth rate etc in their strategic planning and decision making.Increasing trade, movement of capital andlabour denotes link of two economies with increasing globalisation.EconomicfactorsalsocreateimpactonCamecoCorporationin consideration of inflation rate, saving rate, interest rate, foreign exchange rate, etc. Economic cycle determined aggregate demand and investment in particular economy. As a result, different aspects of economic factors develop more benefits in the nation such as growth rate, inflation & industry's economic indicators, etc. 3.Social factors- Society’s culture & means of doing things influence the culture of an association in an environment. Shared attitudes & beliefs of the population play a great role in how marketers at Cameco Corporation will recognise the customers of a given market and how they design the marketing message for Industrial Metals & Minerals industry consumers.The population is getting older as well like In 2016, 18% of people were aged 65 and over, while 2.4% were aged 85 an over and the increasing segregation of population group denotes support for different firm with increasing globalization.For instance, shared belief and attitude of population play great role so that it determined that howmarketersunderstandcustomersandtheirrequirementstodesignmarketing message. As a result, Cameco Corporation considered demographics and skill level of population, class structure, hierarchy & power structure in society. 4. 6
5.Technological factors –Technologyis increasingly affecting organisations or business all around the world, Cameco utilisesvarious technologies that helps to improve efficiency and effectiveness of the firm. It also helps to design and develop new products or services to achieve competitive advantages in the market.Technology is fast disrupting in different industries across the board. Cameco Corporation deals in electricity products and services so that recent technology development helps to determine different aspects of the enterprise. In this consideration, it can be stated that rate of technological diffusion also assists to develop significant advantages in the business. 6.Environmental factors –These factors include climate, change in weather, laws related to environmental pollution, waste management etc. Cameco needs to consider each element or factor related to environmental sustainability in order to conduct their business practices ethically and legally in different countries.Different market consist distinctive normsothatenvironmentalfactorscreateimpactonthebusiness.Environmental standards can impact on profitability of an organisation. Therefore, Cameco Corporation need to focus on weather, climate change, laws regulating in environment pollution, etc. Furthermore, they need to focus on recycling and waste management so that desired level of efficiency can be successfully develop in the business. 7.Legal factors –In many countries, the legal institutions and framework are not healthy enough for protecting the intellectual property rights of a company or business. An organisation such as Cameco needs to evaluate the legal framework carefully before entering into a new market. The laws that needs to be considered includes Data protection, employment law, discrimination law etc.Legal factors influence to the company in term of framework and institutions which robust and protect intellectual property rights of an enterprise. Therefore, firm need to carefully evaluate before entering in such markets. Cameco Corporation considered different laws in their business which helps to protect them in systematic manner. For instance, health and safety law, data protection, consumer protection law, etc. 8. 7
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Complexity of strategic challenge faced by the enterprise Expanding business in different areas of the world is not easy task so that there are several elements exists that create complexity in the enterprise. In this regard, following are different challenges occurred at Cameco Corporation,International company structure-In order to compete globally, international company structure highly influence functions and operations of the business. In this regard, it can be stated that the chosen business needs to concentrate on several aspects such as coordination among team members, organisation of structure, etc. (Kim and Chai, 2017). Hiring in local market also understand culture of target market to work centrally. Cameco Corporation offers effective multinational structure so that it demonstrates diverse global presence and products are also controlled centrally. Another challenge faced by the company isForeign laws and regulations, Along with getting company structure, it can be stated thatgaining comprehensive understanding towardslocallawsand regulationsalso governing in target market (Cioca, Ivascu and Ionescu, 2015). With this regard, Cameco Corporationneedtoconsideredtaximplicationswithtradinglawsthatnavigatelegal requirement with central function for successful international business. Eligibility to trade also significant consideration so that potential tariffs and legal cost associated with entering into new market. Another issue for the organisation isInternational accounting, It is one of the main legal areas which isconsidered to comeand perform internationalbusiness. Hence, tax compliance is perhaps and most crucial. International accounting can be present with challenge in multinational businesses. Different tax systems, rates and compliance requirements make accountingfunctionofmultinationalenterpriseandsignificantchallenging(11Biggest Challenges of International Business in 2017,2017). This is because, accounting is key to maximise revenue in the business. .Last but on the leastCost calculation and global pricing strategy, Setting pricing is considering products and services which present challenges to do business and perform several tasks. There are several considerations in strategy to remain competitive (Welford, 2016). Hence, Cameco Corporation ensuring that profits and revenue will be successfully generate with researching price of direct, local market competitors. It helps to set benchmark to gain desired level of results. For instance, it includes cost of production, labour, shipping, distribution, etc. Job mobility: It is one of the major challenge in front of the Cameco Corporation. This is because, global trade system especially dealing in manufacturing jobs which is less developed 8
for developing countries. Due to lower skilled workers, the chosen business face manufacturing of jobs in developed nation. Western dominance: Furthermore, despite with huge growth in emerging market, capital can be successfully flow from one country to another. This is because, non-western countries also bring disaster finance results so that Cameco Corporation focuses on developing world deepens poverty. Loss of cultural identity: Moreover, globalisation has made with foreign cultures easier to access. In this regard, success of certain cultures also served in all over the world so that it stimulate lifestyle and culture for distinctive features. Hence, Cameco Corporation loss global diversity. Job mobility: It is one of the major challenge in front of the Cameco Corporation. This is because,globaltradesystemespeciallydealinginmanufacturingjobswhichisless developed for developing countries. Due to lower skilled workers, the chosen business face manufacturing of jobs in developed nation. Western dominance: Furthermore, despite with huge growth in emerging market, capital can be successfully flow from one country to another. This is because, non-western countries also bring disaster finance results so that Cameco Corporation focuses on developing world deepens poverty. Loss of cultural identity: Moreover, globalisation has made with foreign cultures easier to access. In this regard, success of certain cultures also served in all over the world so that it stimulate lifestyle and culture for distinctive features. Hence, Cameco Corporation loss global diversity. Evolving technology :Technology advances also profound impact on different businesses. Therefore, it considered several key tasks to solve potential problems. Technological advances in the industry also helps to gain competitive advantages so that it helps to increase online effectiveness. Delaying partnering with employees :In order to consider long term goals, relationship can be identify to create adverse relations to lead with disputes. As a result, it is recognised to seeking mutually which increase several options to achieve shared goals. 9
Recommendations In order to overcome globalisation challenges, Cameco corporations needs to undertake various changes such as developing flexible organisational policies and strategies to minimise the influence of external or macro factors while entering into any new market. The company can also adopt latest technologies to meet the demand of new markets with effectiveness and efficiency. The organisation needs to ensure that it is not performing any type of practices that voids the environmental and legal policies of any country in any manner. The employees should be informed about the positive and negative aspects of globalisation. Reduce cultural differences :In order to deal with innovative functions and operations, it can be stated that cultural differences must be ascertained to overcome challenges. With the help of mutual agreement in Cameco Corporation, this issue and problem can be successfully diminish. Diminish regulatory problems :In order to diminish globalisation challenges, it can be stated that regulatory problems can be solve easily. In this regard, western dominance indeedfacilitategrowthofindustrialmarketsininternationalareas.Increasing uncertainty and following financial policies helps to increase positive advantages in Cameco Corporation. Resources limitations and supply chain :With respect to develop successful supply chain, globalisation issues and problems can be diminish easily. In this consideration, constant learning and managing environmental functions helps to focus on effective leadership. 10
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LO 3: Operating in a global market influences an organisation’s structure, culture and functions a) Evaluate influence of globalisation on organisational governance & leadership, structure, culture and functions Global leadership refers to leading personalities across the global known for successful and leading management of business. This is attained by involving diverse range of people in business to manage innovation and creativity in services with increasing globalisation. Influence of global leadership Leadership with globalisation influences business function where it focuses on managing synchronised business activities regardless of different in foreign markets like, taste, time, preferences, cost, technology, etc. Further, pursuing balance between different culture denotes influence of leadership on firm in globalisation era. Mc Kinsey model with 7s can helps in deriving structure function, strategy, shared values, etc of Cameco Corporation: System:Impact ofGlobalisation on organisational governanceongoing process which assiststodeterminedominantpositionofthebusinesstodevelopandincreasing integrated economy that marketed with free trade ad flow of capital. Increasing in globalisationactivitiesdisplayskillsofstrongbusinessknowledgeforCameco Corporation (Wheelen, Hunger and Bamford, 2017). This is because, organisational governance and leadership assists to find ways that adapt and adjust different changes at workplace. It assists to deal with global exchange of goods and services for gross domestic products. Style:GlobalLeadershipwithincreasingglobalisationaimatmakingemployees comfortable and managing coordination and cooperation to overcome diversity. For example, leading style of Cameco Corporation is focused on understanding beliefs and perception of diverse employees to manage coordination in work and business activities.Staff:Culturereflects social behaviour and norms of different people in human society. It is the idea comprise of different values, beliefs and norms. It is transmitted through human societies and human learning. Cultural influence in globalisation is based on inter connectednessifdifferentpopulationgroupandcultures.Forexample,Cameco Corporation aim at working on shared values and perspective concept which helps the businesses in managing individual differences regardless of differences in culture.This is 11
at global level is analysed with the help of Hofstede cultural dimension from which firm isabletoderiveperspectiveofdifferentcountiesonthebasisofindividualism, collectivism, power distance, feminism, etc. This helps in developing understanding over beliefs of people and aid in effective management. Globalisation influence to the business in large consideration. In this regard, multinational corporation promoting customer culture,exploitationtowardsworkersandmarketsthatinfluencesocietalvalues (Eisenberg, Johnson and Pieterson, 2015). In Cameco Corporation, it assists to promote homogeneous set of values and beliefs.Structure:Organisational structure is very complex issue which need to focus and link with different departments, functions and geography. Therefore, it helps to accomplish desired level of goals and objectives to self-organise which means that structure is successfully developed to produce desired level of results in Cameco Corporation. Skills and Strategy:Globalisation consist important role in the business to grow their profits and revenue in positive consideration. In this regard, competition continuously increases which allow businesses to enter in markets and associated with cost advantages. In Cameco Corporation, it is essential to leads with increased competition that is related with different functions and operations. When the business easily operating with more market share, they can develop more successful results and operations at workplace (Trigeorgis and Reuer, 2017). Functions of Cameco Corporation are influence by skills of employees within firm and with increasing globalisation. Managing business across internationalboundariestoboostintechnologicalimplicationwhichhasmad managementoffunctions digitalised andadvanced. Inaccordancewiththis,itis becoming important for the organisation to focus on recruiting and training skilled workforce with reference to global changes and advancement. b) Evaluate influence of ethical and sustainable globalisation on organisational functions Sustainability can be seen with several effects in the business. In this regard, it can be stated that economic phenomenon also associated with development of global market. Therefore, itinfluencesallaspectsofcommunitylifefromculturetocrime(Rauter,Jonkerand Baumgartner, 2017). In Cameco Corporation, it is highly influence to deal with problems and challengeswithinthesociety.Withrespecttoimplementsustainabilitydevelopmentat workplace in the organisation, following are certain features considered in the business: 12
Make wider use of market: With respect to determine ethical and sustainability in Cameco Corporation to operate several functions and operations in systematic manner. In this consideration, it can be stated that the chosen business develop their operations and functions in different areas of the world (Prajogo, 2016).Strengthendecision-makingprocesses:Decision-makingprocessisalsoimportant consideration which assists to make sure that effective process implemented by Cameco Corporation to maintain sustainable environment. On the basis of positive culture and structure, the chosen business can concentrate on appropriate decision-making structure which helps to deal with sustainability in different areas of the global environment (Sparrow, Hird and Cooper, 2015).Harness with the latest technology: Furthermore, it is essential to deal with the latest technology to perform effective functions and operations. In this regard, improvement in the operations will be ascertained to adopt network in systematic way. As a result, it determined diversification of activities for business growing (Eisenberg, Johnson and Pieterson, 2015). Manage link with global economy: Moreover, it is essential to deal with global economy in specific context. In this regard, manager of Cameco Corporation need to focus on contact with different businesses in all over the market. Therefore, it helps to create significant advantages that ascertained with several operations and functions which would be beneficial for maintain sustainable development (Annarelli and Nonino, 2016). Along with this, in respect to grow sustainability of the chosen organisation it can be stated that organisational measures implemented in following consideration: Improvement in quality of services and relationship with several numbers of suppliers. Improvement in human resource management as per requirement of organisational change. Implementing organisational change processes that enhance business sustainability that consider with diversification of activities and HR training. Globalisation with ethics considered combination of enterprise, ethics so that they are gain more attention to set corporate houses in the society. As a result, issues concerning with globalisation that is more important for Cameco Corporation. With respect to considered globalisation, it can be stated that corporate responsibilities for better standard of living 13
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successfully develop at workplace. In this regard, substantial welfare activities raised ethical standards (Kuratko, Hornsby and Hayton, 2015). Furthermore, it also determines appropriate pay structure so that poor working conditions can be solved successfully. LO 4: Evaluate the influence of globalisation on organisational decision making and strategy a) Different ways of decision-making that can work effectively in global context In order to develop effective work, it can be stated that in global context there are several ways of decision-making. It assists to determine solution for a problem in Cameco Corporation there are certain situations need to require approaches in effective manner. Employees approach determinedecision-makingindifferentways.Therefore,itassiststodesignselectionof procedure that weigh alternatives and find appropriate solution to problem (Noe, Hollenbeck and Wright, 2017). Along with this, in Cameco Corporation certain situation require to be effective. Finding appropriate solution in decision-making is the biggest task in business. They are as follows:Directive: In this form of decision-making, it can be stated that relies on rationale and autocraticstylealsoresultsforemployingwithownknowledge,experienceand judgement. One of the biggest issues in this style rarely leader have pertinent information to make effective decisions (Eisenberg, Johnson and Pieterson, 2015). It creates drastic effect on overall real estate revenue in Cameco Corporation.Conceptual: This kind of conceptual style of decision-making, long term results, creative approach, brainstorming of alternatives, etc. In this regard, team accomplish their goals and objectives with all key information that are acquired in research. Brainstorming with different alternatives land to develop successful ideas where team decide to choose conceptual understanding. Hence, Cameco Corporation support with different ideas also gain creative work performances. Main benefit of this style is that long term aspects of decisions support to subject for change (Kuratko, Hornsby and Hayton, 2015). As a result, it helps to communicate more success and focus on industrialisation.Analytical: In this kind of decision-making approach, analytical strategy successfully ascertained with use of direct observation, facts and data that are determined with the best outcomes (Kim and Chai, 2017). When issues are related with time consuming, it can be 14
stated that several alternative options will be selected in Cameco Corporation to attain overall effectiveness at workplace. Behavioural options: Behavioural style of decision-making consider low tolerance for ambiguity which is intuitive. Manager mainly possess behavioural style in decision- making that helps to engage in team discussion. They are more responsive to feel right and motivate team members to perform several tasks in appropriate manner. Hence, decisions can be communicated clearly in Cameco Corporation. b) Determine and articulate various routes in internationalisation of an organisation to adopt and include key barriers In order to perform functions and operations to do business international market, several barriers occur that impact on the enterprise. In this consideration, it can be stated that following are different challenges occurred in Cameco Corporation:Language barriers: With respect to dealing in international market, it can be stated that different language barriers occurred which create issue of inconsistencies which create major issues on the business (Grant, 2016). In this regard, Cameco Corporation need to select route to operate in international market.Cultural barriers: Due to cultural barriers, the chosen business facing several problems at workplace of the selected business. In this consideration, it can be stated that relationship must be successfully develop to attain overall effectiveness and know culture effectively.Working with multiple currencies: Furthermore, in international market there are several currencies exists which create major impact on the results and outcomes. In this consideration, local politics and thorny religious differences occur. Hence, in Cameco Corporation face this issue which need to be reduced to perform functions in international areas (Eisenberg, Johnson and Pieterson, 2015). Dealing with multinational laws: In order to deal with international market, it can be stated that there are several laws regulate which assists to do business in systematic manner (Eisenberg, Johnson and Pieterson, 2015). In this consideration, it can be stated that Cameco Corporation need to focus on all laws and regulations that assists to deal with international operations and functions. Routes of mobility and internationalisation 15
Inordertodealwithinternationalmarketoperations,routesofmobilityand internationalisation is methodology in which diagnosis, analysis and planning of the process determines operations to perform arts. It includes different phases and processes which followed by company and professionals to complete tasks effectively (Kuratko, Hornsby and Hayton, 2015). A - Diagnosis It is first step which make in-depth diagnosis of different offers that recognise with strength and weaknesses. Hence, all information gathers to work with potential pattern. In Cameco Corporation, it considered following aspects:Capabilities and constraints: These are internal consideration which develop project, products and services. Furthermore, Cameco Corporation need to determined talent & values, resources, languages, etc. 16 Illustration1: Routes of mobility and internationalisation (Source:ROUTES OF MOBILITY AND INTERNATIONALISATION,2018)
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Environment identification: These are external aspects which includes audience, partners and clients (Grant, 2016). Furthermore, it considered competitors, artistic tendencies, cultures & languages, legal issues, etc. B - Objectives and priorities In this way, it has been identified that which project in on priorities or mobility that is suitable for Cameco Corporation.Project, products and services: It includes projects and objectives that consist in large consideration of international market. Geographicalpriorities:Indifferentareasofgeographicallocations,itconsists operations and functions such as countries, regions and cities. C - Strategic lines Strategiestobefollowedinordertointroducenewprojectwhichdefined communication, allocation and many other areas in Cameco Corporation. They are as follows:Communication: In this regard, itisessentialto concentrate on messages, digital marketing, markets and network that assists to increase promotion of the business.Distribution and selling: With consideration of distribution and selling, gateway, contacts and sales staff must successfully develop which would helps to focus on Cameco Corporation to consider internationalisation (Noe, Hollenbeck and Wright, 2017). Financing:Financingactivitiesconsideredrelationswithprice,subsidiesandco productions to develop significant advantages. D - Action plan In written context, it is essential to determine preparation of list that considered actions that are taken into short, medium and long term aspects.Actions: It considered list of action that are taken by Cameco Corporation.Calendar: It includes times for completion which helps to signify different advantages.Team: It determined responsibilities among several team members. Budget: Different scenarios helps to set more effective results at workplace (Eisenberg, Johnson and Pieterson, 2015). CONCLUSION From the above report, it can be concluded that strategic direction create impact on global activities of the business in successful way. In this regard, more growth and development 17
outcomes shows financial implications in new areas. Furthermore, it summarised about strategic and globalisation challenges that impact on Cameco Corporation. Moreover, it articulated about different barriers that face by business to operate in different areas of the world. At last, it discussed about routes of mobility and internationalisation which helps to remove barriers from countries. 18
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Wheelen, T.L., Hunger, J.D. and Bamford, C.E., 2017.Strategic management and business policy(p. 55). Boston: pearson. Online 11 Biggest Challenges of International Business in 2017. 2017. [Online] Available through: <https://www.hult.edu/blog/international-business-challenges/>. ROUTES OF MOBILITY AND INTERNATIONALISATION. 2018. [Online] Available through: <https://www.tonigonzalezbcn.com/en/routes-internationalisation>. 20