Management Theories and Philosophies - Assignment
Added on 2020-12-24
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Leadership ManagementEconomicsPolitical Science
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MANAGEMENTTHEORIES ANDPHILOSOPHIES
Table of ContentsINTRODUCTION......................................................................................................................3MAIN BODY.............................................................................................................................3Critically evaluating Levitt’s view of global strategy............................................................3CONCLUSION........................................................................................................................15REFERENCES.........................................................................................................................17
INTRODUCTIONManagement theories are implemented in the entire organisation and across the worldin order to solve the issues and to increase their productivity and quality of services which areoffered to customer. In the current era globalisation across the world has made people awareof the different tastes, preferences and lifestyles of people in the entire nation (Nguyen,2018). It is also true that because of globalisation multinational companies are operating innumber of different countries in order to adjust its sales and products which are alsorelatively at high cost. The present essay will discuss on global strategies which entities areadopting in order to achieve competitive advantage and to establish their business with themotive of long term perspective. Further, in this essay different arguments which aredeveloped on the topic will also be evaluated with appropriate books and journals wheredifferent perceptions of the author on the globalisation theory of Levitt will be evaluated. MAIN BODYCritically evaluating Levitt’s view of global strategyAccording to Levitt’s argument it is true that many multinational companies havebecome disillusioned with their sales in globalised market. It is because old markets are nowbecome saturated where the customers has different perspective and they have new demandfor the customised products in accordance with new market. This is the main reason whichevaluate that the market of globalisation is at hand and commercial world of multinationalcompany is near at the end (Levitt and Scott, 2017). Author has argued regarding adoption ofnew technologies which has now proletarianised in terms of communication, transport andtravel. This is the reality that global market emergence has now standardised where needs andwants of consumer gets changed. In the views of author it is also true that almost eachcustomer in this globalised world has a wish of modernity, global products which are also atlow price. Thus, the whole argument of the Levitt is based on the Global Corporation vs.Multinational Corporation and more emphasis is on multinational which has faced majorchanges in business operations. In order to develop critical argument author has proposed different strategies whichemphasis entities to move their business from multinational market to global market. Thisargument has been done by the Levitt because market of such entities is near the end. In thismodern era, there are lot more and different opportunities for companies across the world in
order to expand new their business. For example: in the current situation, emerging markethas developed their strong position where almost every multinational entities of world wantto establish their business. It is because government of such countries wants to raise the livingstandards of people who live there and to increase the availability of foreign goods as well.Therefore, author has stated that entities must have to produce products which are morestandard, advance, functional upon which consumer will able to relay. In order to achievehigh competitive advantage entities also have to create products which has valuable qualityand available to consumer at low price. Global entities are achieving success with theirbusiness operation because they are more concern with the demand of consumer across theworld and they are not concentrating what everyone was thinking in relates to products andservices.In the views of Levitt, multinational entities must have to focus on standardisedmarket in order to concentrate in global market. The important strategy which proposed byauthor is that there is not appeal like price. According to him people generally like moneyand they want to spend on the items which satisfy their need and which is created withvaluable quality. Generally people like to spend upon the products and service which are oflow price and has good and valuable quality. Customers are getting attracted and becomeloyal to purchase products which is standardised and is of low price. Author has developedmore emphasis on the concept of standardisation because according to him if entity forcesonly on the cost and down the price helps them to raise their sales and to attract more andmore customer in the organisation (Dodgson, 2018). They only need to focus on the pushingthe quality and reliability in order to maintain reasonable concern helps them to generatemore and more customer in the organisation.Author also argued only on putting the lights over the concept of marketing.According to the opinion which has been propounded by him is that entity must has to knowmore on what customer wants then what they himself know. Multinational entities must onlyhave to develop focus on different product preferences, spending patterns of the consumers,their preferences regarding shopping and on legal arrangements. It is also true that during thelast two decade global strategy and organisations has successfully developed their strategiesin order to achieve huge success in the market where entities also have created numerousperspectives for examining the issues and regarding the prescriptions for facing globalbusiness competitions of the market. Levitt also argued that due to development of hightransportation and technologies, communication between the entities across the world
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