Global Business and the Advertising Industry

Running head: GLOBAL BUSINESS AND THE ADVERTISING INDUSTRY
Global Business and the Advertising Industry
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1GLOBAL BUSINESS AND THE ADVERTISING INDUSTRY
In this growing era of competitive business, the strategic management is something,
where the processes of various management levels set this strategies and goals within an
organization, as it equips the organization with overall direction of various functional areas of
different departments of a company such as accounting, finance, production or marketing, which
gives management the opportunity to comprehend each of the operation levels’ concepts in the
entire organization (Hill, Jones & Schilling, 2014). Hence, it is the duty of the managers to make
sure that they bring out the best of each of the levels of operation in order to achieve the strength
and weaknesses in the business environment.
With the modern condition of affairs, the advertising industry needs to have a relook into
their models of strategic management to make sure that the strategies that are applied are
relevant as well as are capable enough to create a value for both the industry and the clients
(Rath & Bharadwaj, 2017). Hence, the industry players need to function more as the integrated
entities and bringing up together the operations of the other industry units I order to contribute to
the success of the organization.
The environmental analysis of the business is a strategic tool, which is used to identify
the internal and the external aspects that have an influence on the overall performance of the
respective organization (Bryson, 2018). It includes the assessment of the level of threats and
opportunities. It helps the organization to strategize its growth and increase its market share by
targeting new customers or by increasing the range of products and services that it offers or by
geographical expansion.
The advertising industry, with regard to this case, is very challenging. This is due to the
technological developments, the increase in customer spending in the developing economies, as