Success in the Global Business Environment

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Scientific innovations and inventions in technology and transport networks has facilitated the growth of international trade; companies’ engaging in international trade benefit from an increased goods and services market but also suffer an increased competition from domestic and international players.

Countries and companies trade the through economic policies of absolute and comparative advantage (Hitt, Hoskisson & Ireland, 2003). This paper discusses some of the most important requirements for organizational success in the global business environment.

Effective management and leadership

Leaders have their major role as designing an effective long-term strategy for their organizations; they are also the think tanks and offers solution to day-to-day issues affecting an organization. When trading in the international arenas, the business environments keeps changing and new ways of doing business keeps emerging.

With good leadership, the company will be able to make responsive decisions and initiate competitiveness in then. In times of change, a leader is supposed to pioneer a company to the desired destination, he/she is required to be on the forefront and build confidences and trust from his juniors.

By this, he is playing the role of being a captivator and enterprise guardian. A leader has the role of being a strategist, it is through the policies and decision that a leader makes that makes a certain business successful (Richard, 2006).

Strong marketing and research teams

Advertising and marketing are strategic ways through which an organization creates a market for its good and expand it with time; they are the methods that they communicate to their target market segment about the existence of a certain product in the market. When a product has been introduced to the market, then it follows that there must be ways that the target market segment have to be made aware.

When marketing in the international arena, marketers need not only to have basic marketing skills but should also understand some international marketing skills that are not static.

To remain in the leadership, managers need to have a robust marketing department that will advise them on the right product, processes and approaches to marketing they should adopt. When doing so, then the company will rejuvenate regularly and remain competitive in the international arenas.

Strong international supply and logistics strategy

Supply’s and Logistic management is an important strategic management tool where a company ensure that good, services and information is supplied at the right place in the right time; other than materials, the company need to ensure that its final products get to the intended destination when needed.

It involves ensuring that good undergo the necessary processes before they are put in use, and no one time that there will be a short fall in supply. When logistics are well managed a company will have a “just in time” material, machinery, goods and services supply. For the purchase of goods or services, the supply chain management defines what the company wants and by what time.

After defining, the item is identified and the supplier recognized. What follows is the negotiation for the price of the item identified. If an agreement is reached, the goods are received from the supplier and payment arrangements follows. In the international business, there are some customs and international logistics that the company should ensure that they are managed effectively (Lambert, 2008).

What do you think are the critical characteristics of a successful business leader?

Leaders define the destination of a company; the decision they make have the greatest impact on the attainment of corporate goals and objectives. An efficient leader should involve his team in decision-making; how well a leader is able to organize his human and physical resources for the good of the organization define whether he will be successful or not. Some attributes are shared among efficient, successful managers they are:

Strategist

Leaders have the role of implementing strategies, entrepreneurial and mandated with the role of creating a winning team; they should develop the pathway through which their company will sail. Different situations and organization calls for different leadership styles, thus management should ensure that they understand the kind of style that can be implemented in their organization.

The different situations also call for different strategies of leadership; an effective leader should adjust with time and always ensure he has the best strategy for a certain situation (Xiao-Ping, 2011).

Good planner

A leader is given the responsibilities of pioneering activities in an organization; he should thus be a planner and visionary that he can lead the organization to greatness. He is the one who should lead through a certain direction and the team follows. He should have a clear mind of the pathways and direction he is taking. Making reliable and effective decisions on minor and major issues is the role of a leader.

He should lead by example and maintain a clear vision and mission. A business requires both human and physical resource, how well these resources are arranged to meet the targets set by the group determines the success of an organization.

The roles of a leader are to ensure that he organizes resources in the best combination for best results. He should thus inspire and empower people to realize their potentials; it is through this that he can make a good performing team.

Good communicator and a change agent

Communication is an integral part in a business, it is through communication that decisions are made and as well as good business relations created. Managers have the role of initiating good communication in their firms and are open to the others. This will assist in sharing of ideas and forging the company ahead.

In times of change, a leader is supposed to pioneer a company to the desired destination. This where is required to be on the forefront and build confidences and trust from his followers? By this, he is playing the role of being a captivator and enterprise guardian.

Good Supporter, mentor, coach, trainer and Server

To yield maximum results, leaders should be in the forefront showing their teams the newest skills, tapping their skills and creating environment that is favorable for learning and self-development. The self-drive is not enough, they should be able to motivate their team members to come out and use their energies and powers to the benefit of a company.

Team player

Leaders should not have a bossy feeling where they disregard their junior staff; when making decisions, they should involve their subordinates to ensure that they offer their input and side of view.

When staffs are included in decision-making, they are motivated to stay with the company and do their best for the good of the company; this facilitates good business. When acting as a team player, he should not forget that he is the overall decision-maker (Ashkanasy, 2011).

What do you think are the greatest threats to the global economy over the next 5 years?

Although the world is increasingly trading together, in the future global markets, there are some business threats likely to occur, they include:

Lack of resources especially non-renewable resource

Over exploitation of resources is likely to lead to loss of the resources and future businesses will have to come up with other alternatives to meet their demand.

Challenges from global warming

Global warming effects have already started to affect people’s and businesses lives; the trend is expected to continue unless governments and international bodies take immediate measures.

Increased competition

With growing good international relations, countries are likely to open their borders more and competition will increase, an increased free competition mean that the country or business with the best technology wins the market.

Global financial crisis

The chances of having another global crisis cannot be ruled out; after the great depression no one could have through that another one would happen, so chances are it may come again

Reduced demand for some goods and service

Despite the fast industrialization, the world has also embarked on massive population controls; this is likely to reduce the number of people demanding goods and services. On the other hand, use of technologies like robots in production is likely to lead to a reduced disposable income to workers and a reduced employment; this will lead to low demand of goods and services.

Reference

Ashkanasy, M. (2011). Leadership. Journal of Organizational Behavior, 33(3),1099-1379.

Hitt, M., Hoskisson, R., & Ireland.(2003). Strategic Management: Competitiveness and Globalization. South Western: Thomson Learning.

Lambert, D.(2008). Supply chain management: processes, partnerships, performance. London: Supply Chain Management Institute press.

Richard, T.(2006). The International Business System, Multinationals, and Globalization. Prentice Hall, Inc

Xiao-Ping, C. (2011). Organizational Behavior and Human Decision Processes, 115 (1), 1-144.

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