Globalization as Contextual Factor : Report

Added on - 28 May 2020

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Running head: Impact of Contextual factors 1Management and Business ContextImpact of contextual factor on India restaurant
Impact of Contextual factors2ContentsIntroduction......................................................................................................................................3Internal and external contextual factors that impact on a business.................................................4Impact of Internal factors on business and its potential benefits and challenges........................4Impact of External factors on business and its potential benefits and challenges.......................6Conclusion and recommendations...................................................................................................9References......................................................................................................................................10
Impact of Contextual factors3IntroductionThe business and trade are undergoing huge changes due to evolvement of world. Globalizationcan be referred as the easy availability of services, goods and connectivity amongst nations. Theamendments are done in policies that have unlocked the markets not only domestically but alsointernationally, and now local products can compete with international products. The report willbe made on Globalization as Contextual factor. The impact of internal and external contextualfactor on the new start up business will be discussed. Ramro Khana Sweets and Cuisine is thenew venture and the expansion of this business internationally will be mentioned in thisassignment. As per the current market situation, it can be analyzed that those countries whoespoused open approach for the brand of international and exposed their markets for the purposeof competing with international products, have attained a lot from globalization (Piscitello&Sgobbi, 2004). For instance, a collective enormous like China has exposed its market forforeign direct investment and made the tactics and strategies for making them friendly towardsforeign investment. This strategy is facilitated to bring the economy of china to the forefront andgave result in the form of increase in the per capita income of its citizens.
Impact of Contextual factors4Internal and external contextual factors that impact on a businessGlobalization is one of the contextual factor that role is vital in the organization to stimulate thebusiness structure and strategies. There are various internal and external contextual factors thatstimulate the business environment. Internal and external factors of globalization are definedbelow:Impact of Internal factors on business and its potential benefits and challengesDiversityThe emergence of globalization can have the impact on the workforce of the organization bybringing the diversity at the workplace. The impact of diversity can be into positive as well asnegative form on business structure and strategies of Ramro Khana Restaurant. Diversity inworkforce makes enable the restaurant to communicate in better manner with the customers whocome from different regions (Crane & Matten, 2016). Restaurant will be enabling to make goodbonding with foreign people and develop new strategies for making food because the style ofmaking food of Indian Restaurant is different from other countries. There can be negative aspectas well of diversity which may influence the new venture because the thoughts, beliefs and ideasof staff will be different from others that bring the situation of disputes and conflicts among theemployees (Josling, e.d.).ManufactureRamro Khana is the Indian restaurant and for expansion of it, it is necessary to analyze the tasteand diet of other countries so that as per their taste the restaurant can move ahead withproduction. In general terms, The Ramro Khana needs to make amendments its menu as per the
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