This document discusses the concepts of organisational culture and structure, including Hofstede's Dimension of culture, GLOBE dimensions of societal cultural variation, cultural web, and talent management.
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Table of Contents SECTION A- Organisational culture and structure.........................................................................3 a) Hofstede's Dimension of culture and GLOBE dimensions of societal cultural variation.......3 b) Cultural web and talent management......................................................................................3 SECTION B- Organisation Motivation...........................................................................................4 a) Gig economy in terms of work and organisation along with their positive and negative effects...........................................................................................................................................4 b) Motivational theories and their implication in the organisation..............................................5 SECTION C- Economics and supply chain.....................................................................................6 a) Issues which macro and micro economics deals with.............................................................6 b) Concept of value chain and integrated supply chain...............................................................6 SECTION D- Business ethics and corporate governance...............................................................7 a) Meaning of business ethics and corporate social responsibility..............................................7 b) Shift in focus to the stakeholders and of shareholders to the multinational enterprises.........8 SECTION E- Business Information system, accounting regulation and taxation...........................8 a) Management information system............................................................................................8 b) Concept of GAAP...................................................................................................................9 Question A.....................................................................................................................................10 Explanation of various terms.....................................................................................................10 Question B.....................................................................................................................................10 StrategicMarketingIssuesInvolvedininternationaltradeandSWOTofinternational marketing...................................................................................................................................10 Question C.....................................................................................................................................11 a) Direct and Indirect Export and market entry strategies.........................................................11 b) Role of Freight Forwarder and carrier's liability...................................................................11 REFERENCES................................................................................................................................1
SECTION A- Organisational culture and structure a) Hofstede's Dimension of culture and GLOBE dimensions of societal cultural variation Hofstede's Dimension of culture:It is framework which is used for the cross cultural communication. With the help of this theory the impact of the culture of the society on the values of the people can be analysed as this guides their behaviour. The employers and the managers considers various dimensions which can define the culture in the organisation and their impact on the organisation can be identified which can either be low or high. Various dimensions includes power distance, collectivism or individualism, femininity vs. masculinity etc. in which higher influence reflects that their exist individualism, power is important while low dimension reflects the collectivism, nurture importance. With the help of this the managers can formulate the strategies for managing the employees at internal level as this brings in the diversity while the employees can prepare themselvesto accommodate in that culture(Beugelsdijk,Maseland and Van Hoorn, 2015). GLOBE dimensions of societal cultural variation:The culture in the society vary in location and among the people due to which it has to be managed effectively. The GLOBE dimension (Global Leadership and organisational behaviour effectiveness) helps in managing the cross cultural diversity as it aims to understand the attitude and the perception of the individual. With the help of this the managers and the employees can effectively manages the diversity which increases with expansion of the organisation at international level. The leadership motivates the employees to the adopt the culture by learning various aspects related to the organisation, by understanding and making the culture comfortable. b) Cultural web and talent management TheCultural webis referred to as a tools with which the culture of an organisation can be mapped and the factors which can influence the culture of the organisation can also be analysed and understood. With the help of this tool the future aspects which need to introduced in the culture of the organisation can be determined. This answers the question of how the culture need to look like on the basis of which the changes are made by the managers. Talent management is a science which is associated with the strategic planning of the human resources of the organisation. This helps them to enhance the values of the business by retaining the workforce and making them effective for achieving the goals and objective(Ma and
Hipel, 2016). The activities which are included in this are recruiting, training and developing the employees etc. The culture of the organisation has impact on the strategies and the policies which has been adopted by them for talent management as the culture has direct influence on the behaviour and the attitude of the employees. For making an effective talent management system the entire organisation need to be made part of the system as with this the employees can be made comfortablewiththeworkplaceenvironmentandthechangeswhichtakeplaceinthe organisation such as transformational changes etc. As such changes can lead to change in the role and responsibilities of the employees which can leads to resistance and thus this can be managed by talent management system. SECTION B- Organisation Motivation a) Gig economy in terms of work and organisation along with their positive and negative effects Thegig economyis a market system in which most of the worker are part time workers or are at the temporary position. This makes the economy flexible for the companies to hire the independent contractors and the freelancers rather than providing full time employment. Such an economy is beneficial for both the worker and the organisation as it helps them t cope up with the trends prevailing in the economy (Stefano, 2015). The positive impacts of the gig economy are: ď‚·Due to emerging sense of becoming independent among the millennials the gig economy is boosted and this creates an opportunity for the organisations to use a wide variety of skills and talent. ď‚·For the businesses this is advantageous as they can recruit people on part time basis and as freelancers online. With them they can get their work done which reduces their cost. ď‚·Large scale employment opportunities are generated as the people work as freelancer through online platform which attract more of the organisation in the gig economy. The negative effect of the gig economy is: ď‚·Various compliances and the issues need to be managed and fulfilled which makes the execution of the activities complex.
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ď‚·For an gig worker the contractual rights and the legal definitions vary from country to country due to which the controversies and legal tussles are faced by both the employees and the organisation. ď‚·Also there are lesser opportunities for training and development of the employees as they are not made available with much of the resources. b) Motivational theories and their implication in the organisation The leaders and the managers in the organisations play crucial role in motivating the employees for which they consider various theories such as: ď‚·Maslow's Need Hierarchy theory: With the help of the Maslow need hierarchy theory the needs of the human can be identified which are arranged in a hierarchical manner from the lower level needs to the higher order needs of the employees. Illustration1: Maslow's Need Hierarchy This theory suggests that if one need is satisfied then it no longer motivates the person due to which the higher order need is to be focussed. This helps the managers and the leaders can determine the needs of the employees and accordingly they can be satisfied. ď‚·Vrooms's Expectancy Theory:This theory is considered to be cognitive theory of motivation which is based on the notion that if the employees will put more efforts then it will improve their performance and this will further help them to get the rewards. With the help of this theory of motivation the leaders and the managers make their employees believes that the with more and more efforts, performances can be improved and with which the rewards are linked(Ryan and Deci, 2017).
Illustration2:Vrooms'sExpectancyModelof Motivation SECTION C- Economics and supply chain a) Issues which macro and micro economics deals with An economy is concerned with managing the well being of all. For this the economy is been divided as micro and macro. The macro economy considers the entire economy as a whole due to which it focusses upon various issues such as employment and unemployment, inflation, trade cycle, growth of the economy and many more. All such issues have to be managed effectively as they have impact on the stability of the economy which can affect the trade practices. While a micro economy is concerned with an individual in which the actions of the workers, businesses and the household are considered (Franco, 2017). Various issues which are related with the micro economics are problem of externalities, inequality, problem of monopoly etc. The globalisation is related with the determinants of the micro and macro economics as on the basis of these factors various trade agreements are entered into by the organisation at international level. The problems which are faced by the economy becomes the barriers for trade which may have influence on the operations such as the situation of the inflation may have affect the agreement of supply of the raw material which can affect the international business (Giglio, Kelly and Pruitt, 2016). b) Concept of value chain and integrated supply chain Value chain is a continuous process by which the company operates there product in order to deliver their product in the market. It is a set of collective activities that is perform by the company in order to increase the value of company and gain the competitive advantage. These activities include development of product, transformation of raw material, delivery of product to customer and last the disposal of that product that all include in Value chain. Whereas,
Integrated supply chain defines the planning of business to lead the supply chain management. The business handles the relationship between the suppliers, and manages all the logistics activities in a wholesale and retail business. The main prospect of supply chain management is to apply all the optimization technique in order to effective supply of chain management (Roberts, Kayande and Stremersch, 2019). Yes, value chain and integrated supply chain effects the international business as value chain includes the business management and supply chain includes the operation management. Supply chain refers the transfer of product from one place to another while value chain refers to includes the value of product. That helps the business to enter in the new market, and measure the growth of the business and excess new technologies in the international business as it includes manufacturing, transportation, delivery of products, logistic management, suppliers all the activities that is performed in a continuous manner (Copacino, 2019). SECTION D- Business ethics and corporate governance a) Meaning of business ethics and corporate social responsibility Business ethics:It is a analysis of policies, rules and regulation of the company in regard of controversial subjects. It ensures the relation and trust between the customer and the several market participants. It spread the awareness about consumer-based society about environmental, social and corporate responsibility. It also focuses on the different factors by which company gain the profit by market competition and on legal basis as well. Corporate social responsibility:It is model that defines the self-regulation of business that socialise the company in public. It is also known as corporate citizenship, that operate in a particular manner that enhance the society and environment in a positive way. This can boost the morale of employee and increase the productivity. There are some benefit of CSR are as reduce the carbon footprint to change the climate, build positive reputation in the market, enhance customer loyalty that increase the sales (Yermack, 2017). Factor effect people ethics at work:There are some factors that effects the employee at work these are skills, knowledge, values, motivation, etc. These are the factor that directly affect the mindset of the employee as it is the needed factors of each individual in the company and that directly affects the performance of the employee.It is important that the company operate themselves in order to create social responsibility and for that company performs several
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activities like focus more on healthy environment by reducing the carbon footprint, Use the product that is good for the people's health, Donate some amount of profit for the people and environment welfare. So this is some activities under which CSR is conducted. b) Shift in focus to the stakeholders and of shareholders to the multinational enterprises The focus of the businesses has shifted from shareholders towards stakeholders as the shareholders focusses only upon the short term profits of the company while the stakeholders considers the overall growth of the organisation considering the interest of all the people associated with the business. For the businesses to be successful in today's working environment it is important to create a holistic view of the business and to determine its impact rather than focusing only upon the financial metrics. This will help them in analysing the opportunities prevailing in the international market and satisfying all the parties associated with the business. With the changing perspectives of the businesses at international level the companies need to shift their focus as the stakeholders have comparatively large scope and intensity in comparison totheshareholders.Thishelpsthemtomeetupwiththelegal,regulatoryandsocial responsibilities effectively. With the shift in the focus on the shareholders and the corporate social responsibility the activities of the multinational organisation changes as the regulatory requirement towards the CSR and the shareholders vary from nation to nation. The changes in the activities could be in terms of the way of doing business, the legal and ethical responsibilities towards the society and the investors whose funds are invested. As per the requirement of various governing acts, the companies need to follow the implications such as in terms of dividends, creations of reserves, contribution to the society by way of CSR. All these have direct impact on the operations of the multinational companies. SECTIONE-BusinessInformationsystem,accountingregulationand taxation a) Management information system Management information systemisa systemwhichcomprisesof hardware and software. It has become the backbone of the operations of the businesses as they contain all the information which are required by them. MIS gathers the data and the information from various online sources which are then analysed. On the basis of this reports are formulated which helps
the management of the companies in decision making. The types of decision in which MIS supports includes, the programmed decisions which are related with the repetitive problems and non-programmed decision whose occurrence depends upon the happening of any event ( Laudon andLaudon,2015).AlsoManagementinformationsystemhelpsintakingtacticaland operational decisions as they contains all the data about the routine actions such as the procurement of the resources orders which are placed by the customers etc. For designing an effective management information system, various principles need to be considered by the organisation so that the decisions which are taken by them are also effective. The principle that are to be considered for designing and effective MIS are: ď‚·the output of MIS must be current so that the decision which are to be taken can be taken effectively from the reports so formulated. ď‚·the information and the data must be factual as the MIS provides the guidelines and the operating procedure which helps the organisation to deals with the vendors, clients etc. ď‚·as the technology is getting advanced day by day so it need to be computerised and must get updated time to time. ď‚·For the effective internal control of the organisation the flow of information is crucial which is supported by the MIS so the data which is to be included must be valid so that the operations are effective. b) Concept of GAAP GAAP stands for generally accepted accounting principles, which includes all the commonly used accounting principles and various standards used for financial reporting. These are generally used in the United States which helps their accountants in compiling the financial statements.Ithelpsinprovidingtheclarity,comparabilityandtheconsistencyinthe communication of various financial information ( Kraft, 2015). With the help of various regulations and the set of rules imposed by the authority the financial accounting and the reporting can be regulated. In addition to this various rules are developed by the individual authoritative body which governs the formation and the preparation of various financial statements. The guidelines and the procedures are provided which the companies has to follow, this helps the investors and other stakeholders to analyse the statements effectively as all the statements have the same format.
Corporation tax is the tax which is imposed on the corporate on their income by the jurisdiction. The quantum of the taxes varies from country to country which can affect the performance o0f the business as they have to pay them out of their revenues. Such taxes are imposed on the income earned by the corporations. The organisations are taxed on the basis of different slabs which are decided by the regulatory bodies. Such funds are used by the government for various purposes that are related with the welfare of the society. Question A Explanation of various terms a) Incoterms:These are the predefined terms for the trade which are published by the International chamber of Commerce. Such terms helps in guiding the procurement of the materials at international level or commercial transactions. Such rules are accepted by the legal authorities, legal practitioners and government as they establish fair rules that guide the transaction. b) Tariffs and Bonded Warehouses:These warehouses are the buildings which are used to store the dutiable goods and even from this the goods are taken for the manufacturing. Such warehousesaremanagedbytheorganisationsgovernedbythestateorbytheprivate organisation. As and when the goods enter into these warehouses the importer of the goods and the proprietor enters into bond which incurs liability for them. c)Barriers to entry: The barriers to entry are the economic barriers which are imposed by the government of any country with the aim of protecting the interest of the in house producers and the existing businesses. Example of such barriers is special taxes, requirement of the licenses, regulatory clearance and many more. Many times these barriers can be natural for example, to set up plant oil drilling the start-up cost can be the barrier for entry (Johnson, 2015). Question B Strategic Marketing Issues Involved in international trade and SWOT of international marketing When organisations plans to expand their business cross borders they need to consider various strategic issues related to the marketing. Some of the common issues which are faced by them include the formation of strategy related to the brand and its promotion. The issues can be whether to enter the market with single brand or with multi brand and accordingly strategies need to be decided. Further the decision regarding to enter into the international market with the
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existing product or with a new one is also a strategic issue. Another issue which affects the marketing strategy at international level is competition. Due to changes in the policies of the competitors the marketing strategies need to be revised and because of this the channel strategy may get affected. The distribution strategy and the position strategy can also get affected for example, with changes in the economic condition the suppliers may increase the prices and the overall prices can increase which can affect the international trade. All this affects the marketing planning in which various decisions related to the prices, product, place and promotion are also affected. With the help of SWOT analysis the organisations can determine their strengths and capabilities with the help of which they can grab the opportunities available in the international market by effectively managing their weakness. This help in analysing the need of the resources and the competence which they have to develop in the organisation so that they can effectively meet up with the challenges so faced by them at international level. Question C a) Direct and Indirect Export and market entry strategies Direct exports are the activity which is undertaken by the manufacturer himself.As the goods are manufactured, packed, promoted by them only so they enjoy the full control on the exporting of the goods. While the in indirect exporting an intermediate or any agency is being hired who facilitates the export. In this the entire control related with the exporting rests with the intermediaries. Market entry strategy is the planned strategy for the distribution and delivery of various products and services to the new target market. Such strategy is considered in case of import and export of the goods and services and they are generally referred to creation and management of the contracts in any foreign country. Various factors need to be considered while planning for these strategy such as price localisation, trade barriers etc. as they have impact on the viability of the entry. b) Role of Freight Forwarder and carrier's liability A freight forwarder is a person who acts as agents for the exporter or the importer and performs the tasks which has been instructed to them. Their role is to get the services from the other parties which are engaged in the process such as for packaging, handling, storing the goods and services etc. also they manage the custom clearance of the goods.
When the goods are imported or exported through the ocean or by air, the carrier are held liable for all the damages, delays in the delivery, loss of cargo. But they cannot be held liable in case of the loss arising naturally. The air carrier are made liable only if they are under the Warsaw convention and the ocean carrier in case they are under Hauge Convention.
REFERENCES Books and Journals Beugelsdijk, S., Maseland, R. and Van Hoorn, A., 2015. Are Scores on H ofstede's Dimensions of National Culture Stable over Time? A Cohort Analysis.Global Strategy Journal.5(3). pp.223-240. Copacino, W.C., 2019.Supply chain management: The basics and beyond. Routledge. Trevino, L.K. and Nelson, K.A., 2016.Managing business ethics: Straight talk about how to do it right. John Wiley & Sons.(Trevino and Nelson, 2016) De Stefano, V., 2015. The rise of the just-in-time workforce: On-demand work, crowdwork, and labor protection in the gig-economy.Comp. Lab. L. & Pol'y J.,37. p.471. Franco, M.A., 2017. Circular economy at the micro level: A dynamic view of incumbents’ struggles and challenges in the textile industry.Journal of Cleaner Production.168. pp.833-845. Giglio, S., Kelly, B. and Pruitt, S., 2016. Systemic risk and the macroeconomy: An empirical evaluation.Journal of Financial Economics.119(3). pp.457-471. Kraft, P., 2015. Rating agency adjustments to GAAP financial statements and their effect on ratings and credit spreads.The Accounting Review.90(2). pp.641-674. Laudon, K.C. and Laudon, J.P., 2015.Management information systems(p. 143). Upper Saddle River: Pearson. Ma and Hipel, 2016 Exploring social dimensions of municipal solid waste management around the globe–A systematic literature review.Waste Management.56. pp.3-12Johnson, G., 2015. Cultural Web.Wiley Encyclopedia of Management, pp.1-2. Roberts, J.H., Kayande, U. and Stremersch, S., 2019. From academic research to marketing practice: Exploring the marketing science value chain. InHow to Get Published in the Best Marketing Journals. Edward Elgar Publishing. Ryan, R.M. and Deci, E.L., 2017.Self-determination theory: Basic psychological needs in motivation, development, and wellness. Guilford Publications. Yermack, D., 2017. Corporate governance and blockchains.Review of Finance.21(1). pp.7-31. 1