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Globalization as Contextual Factor : Report
11 Pages2126 Words82 Views
Added on 2020-05-28
Globalization as Contextual Factor : Report
Added on 2020-05-28
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Running head: Impact of Contextual factors 1Management and Business ContextImpact of contextual factor on India restaurant
Impact of Contextual factors 2ContentsIntroduction......................................................................................................................................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 factors 3IntroductionThe business and trade are undergoing huge changes due to evolvement of world. Globalization can be referred as the easy availability of services, goods and connectivity amongst nations. The amendments are done in policies that have unlocked the markets not only domestically but also internationally, and now local products can compete with international products. The report will be made on Globalization as Contextual factor. The impact of internal and external contextual factor on the new start up business will be discussed. Ramro Khana Sweets and Cuisine is the new venture and the expansion of this business internationally will be mentioned in this assignment. As per the current market situation, it can be analyzed that those countries who espoused open approach for the brand of international and exposed their markets for the purpose of competing with international products, have attained a lot from globalization (Piscitello &Sgobbi, 2004). For instance, a collective enormous like China has exposed its market for foreign direct investment and made the tactics and strategies for making them friendly towards foreign investment. This strategy is facilitated to bring the economy of china to the forefront and gave result in the form of increase in the per capita income of its citizens.
Impact of Contextual factors 4Internal and external contextual factors that impact on a businessGlobalization is one of the contextual factor that role is vital in the organization to stimulate the business structure and strategies. There are various internal and external contextual factors that stimulate the business environment. Internal and external factors of globalization are defined below: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 by bringing the diversity at the workplace. The impact of diversity can be into positive as well as negative form on business structure and strategies of Ramro Khana Restaurant. Diversity in workforce makes enable the restaurant to communicate in better manner with the customers who come from different regions (Crane & Matten, 2016). Restaurant will be enabling to make good bonding with foreign people and develop new strategies for making food because the style of making food of Indian Restaurant is different from other countries. There can be negative aspect as well of diversity which may influence the new venture because the thoughts, beliefs and ideas of staff will be different from others that bring the situation of disputes and conflicts among the employees (Josling, e.d.). ManufactureRamro Khana is the Indian restaurant and for expansion of it, it is necessary to analyze the taste and diet of other countries so that as per their taste the restaurant can move ahead with production. In general terms, The Ramro Khana needs to make amendments its menu as per the
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