Wednesday, February 19, 2020

The Impact of Globalization on Strategic Management Term Paper

The Impact of Globalization on Strategic Management - Term Paper Example Since suppliers may not be relatively reliable in other areas where the producing firm is not available, there comes a time when globalization is the only option. Due to growth of both local and international markets, analysts sought to address and bring about strategic management and globalization of firms in view of attaining maximum customer satisfaction. Business Globalization Globalization of businesses is growing rapidly, leading to emergence of a new field of study called global strategic management. Whereas revolution of events over the past few years has a clear picture showing the impacts of global strategic management that includes the collapse of communism, the evolution of information, and Europe unification, the challenge of reaching the goals of complete realization of goals of global strategic management remains. Challenges remain due to slow adaptation of some business in different societies. However, as globalization of businesses stretches to different corners of t he world, many companies with great strategic management are living witnesses of the many benefits globalization can bring. Due to strategic management, globalized countries have been able to encounter and integrate business in a different culture with different local problems as well values that erupt in a different part of the world (Ramamurti & Hashai, 2011). Managers have come together and sought the different series of moves to use in different environment in order to win maximum clientele participation in the promotion of the company’s products. Importance of Globalization Globalization has brought about new insights of emerging systems of strategic management in diverse parts of the globe. This is witnessing the creation of force that characterizes integration of markets across the globe. Global strategic management has led to dissemination of advanced technology that is unifying the globe despite fear and relentlessness of modern technology. The need to have a great m ode of information technology across the globe is the driving force behind dissemination of technology that has brought the current global transition (Hitt, 2010). The world owes theses concerted efforts to managers who came with this great idea of diversifying business through information and technology. Due to globalization of strategic management, it is possible to diffuse information technology. As a result, a government is able to foster joint research and project development in other countries, corporations are able to sell sophisticated products in other nations, and individuals are able to exchange ideas and knowhow necessary for globalization (Hitt, 2010). With the help of strategic management, developed countries are uniting with the less developed nations across the globe to integrate or fuse technology towards modernization and advancements. Since technology requires strategized plans, globalization is making it possible for strategy managers to introduce technology in d ifferent and, subsequently, remote corners of the globe and making sure people use it accordingly. Globalization is acting as a foundation for construction of companies around the globe because of technology that is turning the world to a coherent business community (Ramamurti & Hashai, 2011). Therefore, globalization of technology is resulting in an enormous need for strategic management. Through globalization, strategic managers are now able to

Tuesday, February 4, 2020

MANAGEMENT AND LEADERSHIP Research Paper Example | Topics and Well Written Essays - 1750 words

MANAGEMENT AND LEADERSHIP - Research Paper Example Immelt had big shoes to fill but he has carved a niche for himself through his leadership skills and today is one most influential business leaders in the world. Immelt before becoming the CEO of GE had held numerous leadership positions in the company. He had served as Vice President and General Manager for different business division of the company. This paper is aimed at understanding and analyzing the leadership, management and motivational skills of Immelt and how he has used it to take GE to new heights. In the process, the different businesses of the company will be described along with the three major challenges Immelt has overcome in running the company since he has became the CEO. His various leadership skills and strategies can be understood while analysing the challenges. Also the impact that Immelt has had on the world through his vision, business and through other areas will be discussed. When Immelt took over as the CEO he wanted to bring about a cultural revolution in the company. In a company that was process-oriented and hard-driving, he wanted to infuse creativity, bold thinking and hunger for growth into its culture. Also it is to be noted that Immelt took over just a few days before the 9/11 attack, which means that the economic situation in which Immelt started his stint was not an ideal one. It was a great challenge to Immelt to sustain and continue the growth of the company in an era of slow-growth domestic economy, greater global competition and lesser tolerance among investors. In order to achieve his vision of reinventing GE Immelt overcame the following challenges: In order to change the organizational culture that would focus on innovation and creativity, there needed to be a change in thinking. There was very little that Immelt could do single handed to completely change the company and transform his workforce. Majority of the workforce in the company