Management theories and philosophies Assignment

Added on - 17 Feb 2021

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Management theories andphilosophies
Management theories is a systematic process to set the foundation and combination ofmanager's approach and positive work climate for motivation. Management philosophy is refersas the set of beliefs that uses by an individual or a group in the management position to supporttheir decisions which are takes for their development and growth (Bailey and, 2018). In thisreport, there are four important theories in the field of global strategy given by Peng andPleggenkuhle-Miles. It demonstrates that whether such approaches are fully captures thecomplexity of the power of globalization on global strategy. In this context report covers fourmain approaches that illustrate the complexity of the influence of globalization.Globalization is a critical process of segregation across economies and societies. Itincludes several elements like finance, labour, information, flow of products and innovation thatmove across the national borders. According to several economists, increase of globalizationsurface is depends on the different controversial and complex issues become moreinterdependent with more relative frequency of interactions between each other. There are manyimportant trends that make up globalization. These are migration of work and labour,sustainability of the natural environment, flow of capital, design of cultural dynamics anddevelopment of organisational techniques for global competition.Many authors specialized in finding each issue with having depth knowledge. In thiscontext, Mike W. Peng and Erin G. Pleggenkuhle-Miles conducted four important debates inglobal strategy's field. These four debates focused on the global vs regional geographicdiversification, overseas vs domestic corporate social responsibilities, cultural vs institutionaldistance, convergence vs divergence in corporate governance. They track down the history ofthese debates for each theory and it also described emerging tension for every debate. Theglobalization has changed and in present days it is characterized by its increasinginterdependency and multi-faceted with different business aspects. Further, all such approachesdescribes and its influence of globalization on global strategy also discusses.Debate on Global vs regional geographic diversification– It is the first debate whichdiscussed about a business that operates its operational activities beyond the scope of needs todevelop the globalized strategy because it demonstrates all the aspects across the world which isdifficult to ascertain (Mankin and, 2018). So for this reason it has confronted that being amultinational, it can be seen as a prestigious aspect that enhances to the global power of the
organisation. It is emphasis on three main aspects that is poly centric, partisanship and geocentricthat contains all the chief points of a firm which eventually contributes for diversification ofmultinational attribute of a business activity. There is a need to have global experiment that isbased on the regionalization and it provides two different facts for establishing regionalmultinational organisation. One of such facts is about practices held at the multinational levelthat is ought to be operated at intra-regional level and give up the inter-regional stage.The another belief is related to the activities of multinational organisations whoserequirements is to be organised at the location stage rather than focuses on the global level. Themain reason of observing more findings at the national and inter regional level that is due toinadequate concern in order to expand foreign aspects in the specific region. In this context, themajor reason behind in operation the organisation on global level is, that it develops trouble inenterprises business pattern and it helps in development of many networks with manyinternational companies (Epstein, M.J., 2018). For support to the second fact, many explanationsand studies have been reviewed on an organisation's performance, regional separation and it is aidea that the multinational business entities needs to be focused on a particular region and it willincrease their performance level and work towards expansion and growth.In this context, the attention for the regional multi-national organisation operates itsactivities towards getting huge contemplative for nation's income and trade practices. So for thisreason, the major criticism can be seen in order to measuring different hierarchy aspects. Thereare many organisations that run at multinational level, should be more correctly labelled atregional level so that the value of relative region norms, culture and institutional similarities. Fora detail discussion about globalized economic aspects, many researchers provide a deepsuggestion to trend towards several categories of inter regionalism (Epstein, M.J., 2018). It isalso undertaken the approach towards bilateral that can take place over the global boundaries. Itis a special belief that international organisation have to be compete with in some multipleregional business concerns that is not connected with each other and focus on the politicalaspects prevailing in that particular nation.In the another side, the main issue is comes for prevailing in the concept of regionaldefinition because it also contains economic aspects. In this context, some other cases alsoarticulated with multinational company that often acquire benefits from global politicaladvantage that increase in between host and home country. The political resources can also
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