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Analysis of the Social-cultural Implications for Managers

   

Added on  2020-03-07

15 Pages4138 Words63 Views
Leadership ManagementProfessional DevelopmentEconomicsPolitical Science
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ANALYSIS OF THE SOCIO-CULTURAL IMPLICATIONS FORMANAGERS1
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Executive SummaryThe present report focuses on the analysis of the implication of the socioculturalfactors on the managers of the business organization. Australian businesses aresuccessfully operating in India for the past many years. The economic changes inIndia and Australia have brought several new opportunities for both the countries.However, the difference in culture and the social environment has often affected thesuccess of the business unless the managers have handled them efficiently. Theimpact would be analysed with a focus on BHP Billiton in Australia and India. Thepresent report evaluates the ways in which Billiton has been successful in India bymanaging its socio-cultural impact. The report includes Hofstede's CulturalDimension analysis for analysing the difference between the culture in India andAustralia. The business organizations are highly impacted by the changes in culture.The managers in BHP Billiton are more focused on their performance rather thaninterpersonal relationship. Moreover, they were much more decisive. However, thesestrategies were ineffective when they came to India. India is an individualistic countrywhere people are interdependent. Undertaking quick decisions would not help theorganizations to perform better in this country. BHP Billiton focused on differentemployment and community development program that helped them understand theneeds of the community as well that of the employees. Training was yet anotherimportant function of BHP Billiton that helped in reducing communication gap. TheIndian employees were encouraged to take part in the decision-making process andput forward their ideas. Successful addressing of socio-cultural implications by BHPhas helped to strengthen its position within the country. 2
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Table of ContentsIntroduction...................................................................................................................4Social-Cultural Evaluation through Hofstede’s Model..................................................6Corresponding Challenges for Managers of BHP Billiton in India................................8Implication of the issues on the managers...................................................................9Addressing the Socio-Cultural Implications................................................................10Conclusion..................................................................................................................11Bibliography................................................................................................................123
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IntroductionGlobalisation has resulted in improved communication and transportation.Businesses are focused on expanding globally with the exciting new opportunities forgrowth and profit. However, there are several challenges and issues associated withsociocultural factors. The cultural difference between the nations can interfere withthe global business community [ CITATION Hom07 \l 16393 ]. It has been evidentthat the managers in the current global business community have come acrosscultural differences that can create an impact on the competition of the project. Thegovernment of Australia has strengthened the relationship with India for busiesexpansion. The Indian market has a suitable competitive advantage [ CITATIONLPW16 \l 16393 ]. The operation of Australian business in India has become quiteeasy for some common grounds such as a member of language, member ofCommonwealth and crickets. These social factors have developed a long-termrelationship between India and Australia leading to trade and investment.Several businesses from Australia are successful in India. Strategic location, rapidlygrowing consumer market, skilled workforce, and well-developed financial andvibrant capital market has attracted the business from Australia to expand in India.BHP Billiton is one such Australian company that expanded in India. BHP Billiton is amulti-national mining, metal and petroleum listed dual public company. Founded inthe year 1885, the company has grown enormously and presently and in terms ofmarket value, it is the largest mining company in the world. The commoditiesproduced by BHP Billiton are iron ore, coal, copper, uranium and metallurgical coal.Presently, the company has 65,000 employees and contractors. The businessfocuses on the health and the safety of the individuals and ensures on creating anenvironment that would cure fatalities, injuries and occupational illness[ CITATIONBHP17 \l 16393 ]. Considering the progressive development in India, BHP Billiton expanded in Indiaand is presently focused on strengthening its position in India. The sustainableeconomic growth is unlocked by the productivity gains in the advanced economy.The high transformative growth in India is attained through reform transform in India.BHP Billiton has been successful in India only because the managers have beenable to manage the socio-cultural implication on the business. It is a noteworthy fact4
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