The United Kingdoms Global Business Leadership - Report Example

Business Report: Global Leadership April 9, Introduction United Kingdom global business leadershipis grounded on the marketing principles. The research delves on marketing principles. The research delves on diverse countries’ legal and environmental policies. United Kingdom global leadership is primarily grounded on implementation of the four P’s of marketing. Four P’s of Marketing United Kingdom global leadership is based on the four P’s of marketing. The United Kingdom global organization leader must sell its products that meet the quality expectations of the current and future customers. Quality means that the products generate the required performance targets. When the customers use the products, the customers are happy (Kotler, 2007). The United Kingdom global business organisation leader must supply the quality products in order to fill the needs, wants or caprices of the current customers. The basic needs include food needs. The company can supply the clients’ other shelter needs. Normally, customers prefer to buy quality clothing products. Prioritizing products that fill the current and future customers’ basic needs will ensure retention of the companies’ global leadership (DuBrin, 2009). The United Kingdom global business organisation leader charge reasonable prices for the products and services. Reasonable prices do not automatically equate to the lowest market prices. Reasonable prices normally incorporate the costs and expenses production and sales activities (Hartline, 2011). Reasonable prices include markups. The markups contribute to the company’s net profit performance. In economic parlance, reasonable prices are the equilibrium prices. The equilibrium prices are the prices where the sellers and the buyers of the products or services agree as the exchange prices for the products or services being sold (Baumol, 2011). Further, a reduction in company’s selling prices will increase the economic demand for the global business leader’s products and services. An increase in demand will increase the company’s total revenues. An increase in revenues precipitates to higher net profits. Price reduction increases the popularity of the United Kingdom business leaders’ popularity (Daft, 2011). The United Kingdom global business organisation leader must advertise the benefits of the products and services (Daft, 2011). When the customers learn from the advertisements that they can 50 hours just by using the advertised products, the customers will be persuaded to purchase the product. The customers’ saving 50 hours will translate to more time generating the customers’ revenues. With more revenues, the current and future customers will be able to generate more revenues. Reduction of costs and Expenses. The same United Kingdom global business leader must include the cost or expense savings when establishing the company’s selling prices (Daft, 2011). Savings include a reduction in production expenses. Production expenses include both direct raw materials purchases and indirect raw material needs. Reducing avoidable factory or store expenses include reducing factory raw material wastages or spoilages. Likewise, factory expense reduction includes reducing the amount of unnecessary raw materials used in the production of the company’s top selling products. The United Kingdom global business organisation leader must make its products easily available to the current and future customers (Donaldson, 2007). The company must set up branches or stores near the current and future customers’ location. The customers will be able to save time visiting the nearest store or branch to buy their products or use the services offered. A current and future customers living in London will prefer to buy products sold near Westminster Abbey than buy from the suppliers located in Scotland. When the United Kingdom global business organisation leader sets up a branch in a different country, the organisation leader should incorporate the local culture in marketing the products and services of the company (Ferrell, 2010). For example, a company selling its products in Germany must hire the local German residents as store sales persons. With the German sales persons, the current and future German customers can easily communicate with the German sales persons. The Germany-based clients prefer to deal with the culturally similar German sales person than British sales persons. The United Kingdom global organization business leader implements the labor laws of each global country branch (Kotler, 2007). In terms of the German branch employees’ salaries, the United Kingdom companies must comply with the French labor laws. The United Kingdom companies must pay the minimum daily wage and other legal work benefits of the German employees. Compliance with Global Environmental Laws. The United Kingdom global organization business leader must comply with all environmental laws of each country where a branch had been set up (Ferrell, 2010). In terms of the Italian production plant, the United Kingdom global organization business leader must not pollute the rivers of Italy by dumping its production plant wastes onto the nearby rivers. In terms of the Russian production facility, the United Kingdom global organization business leader should not pollute the atmosphere. Installing high smokestacks releases the polluted factory fumes higher up in the atmosphere. Consequently, the residents living near the factory sites will not be able to inhale the health-endangering factory smoke. The United Kingdom global business organization leader must comply with all the laws of the country where each branch is located (Daft, 2011). For the South Korean branch office, the same organization leader should comply with the country’s business laws. For the United States branch, the same organization pay all required license and business permit fees. Failing to comply may generate penalties and fines. Global Research and Development Leadership. United Kingdom Global leadership entails research and development priorities (Hartline, 2011). Research and development activities focus on the creation of profitable new products and services. Research and development activities include the creation of new products. Research includes conducting feasibility studies. The studies will show which products are needed by the current and future customers. Surveys and pilot projects weed out the creation of unprofitable products and services. U.K. Pharmaceutical Company Leadership. The United Kingdom global business environment includes pharmaceutical companies. The pharmaceutical companies allocated an estimated U.S. $ 6 billion on the research and development of new pharmaceutical products. As of 2001, there were 561 potential new medicines undergoing clinical trials. With the success of some of the trials, the successful medicines will be sold globally. With the forecasted global sales, the United Kingdom pharmaceutical companies can easily recuperate their research and development costs and expenses. For example, the United Kingdom medical company, Avecia, focuses on the research and development of medicines that will cure cancer, diabetes, heart conditions and other major ailments. The Avecia Pharmaceutical Company’s research and development headquarters are located in Grangemouth, Scotland (Usa, 2009). United Kingdom Global leadership entails creative innovation (Ferrell, 2010). The creative innovation includes determining the product life cycle of the company’s current and future products. All products have their birth, growth and death product life cycles. Different products have different product life cycles. For other products, the product life cycle may be as long as one year. The product’s life cycle will influence management to start creating new replacement products. Keeping Abreast of the Global Competition. United Kingdom Global leadership must keep abreast of the competition (Ferrell, 2010). The organization leader should research on the competitors’ products and services. The same organization leader should scout the prices of the competitors’ most popular products and services. The researches on the market segment competitors’ top selling products and services will serve as the guide for counter marketing efforts. Knowing which competitors’ products are top selling items will persuade the United Kingdom Global leadership to produce a product that will persuade the competitors’ customers to shift to the United Kingdom Global leadership’s innovatively new products and services. Going deeper in global marketing strategy (Donaldson, 2007), competition research may indicate names of the competitors’ top selling products and services. On such competition research may indicate that the competitors are selling the same product at £ 20 each. Consequently, the e United Kingdom companies will reduce the selling price of the same product to the same amount or possible lower price. Basic economics theory states that as the prices of products and services decline, the current and future customers’ demand for the products and services increase. Consequently, the United Kingdom Global leadership will able to grab a significant quantity of the competitors’ customers. The United Kingdom global business leader must not discriminate against employees. The United Kingdom-born manager who is assigned to lead the India branch should not discriminate against the local residents. Discrimination may be done by offering lower salaries to the local resident workers compared to the expat British worker. Discrimination may come in the form of the local Indian worker having lesser chances of being promoted than the expat British worker. Discrimination may come in the form of setting age limits in the hiring of the India branch employees (Wright, 2012). The United Kingdom Global leadership entails responding to the current economic depression enveloping the European Union. The depression triggered a massive retrenchment of employees. With the retrenchment, the demand for many European Union companies’ products dropped to bankruptcy levels. Consequently, most of the beleaguered companies closed shop (Cravens, 2009). When sales are low, the global business entity leader may be forced to similarly terminate the services of some of the lackluster sales personnel. United Kingdom Global Business Leaders Several United Kingdom companies have applied the above global leadership marketing strategies with flying colours. United Kingdom’s EBAC Company profitably sells bottled water colliers and spas to the global market. The same company expanded overseas to sell United Kingdom quality humidifiers. To increase global demand for the company’s humidifier products, EBAC Company allocates lots of advertising funds. The fund focused on enlightening the global target market of the many benefits of using humidifiers. The EBAC Company included online marketing to increase the sales of the company’s humidifiers. The online EBAC Company customers can just log in and purchase the humidifiers directly from the online locations (Doole, 2008). Additionally, the United Kingdom’s North Sea Oil Company has been successful in the global oil production and marketing segment. The company sells its oil to the global market, countries that do not produce their own oil. Selling a scarce natural commodity generate higher global demand for the company’s oil products (Donaldson, 2007). Conclusion Based on the above discussion, United Kingdom global leadership is based on marketing principles. Product quality and reasonable prices increase global leadership rankings. Promotional advertising enhances global leadership prospects. Setting up a store or branch near the current and future customers increases the demand for the company’s products and services. Evidently, United Kingdom global leadership is basically pegged on the application of the price, place, promotion, product, and other marketing factors. References: Baumol, W. 2011,. Economics: Principles and Policy, Cengage Learning, London. . Cravens, H. 2009, Great Depression, ABC CLIO, London. Daft, R. 2011, Management,. Cengage Learning, London. Donaldson, B. 2007,. Strategic Market Relationships, J. Wiley & Sons, London. Doole, I.2008,. International Marketing Strategy Analysis, Cengage Learning, London. DuBrin, A. 2009, Essential of Management, South-Western Press, London. Ferrell, O. 2010,. Marketing Strategy, Cengage Learning, London. Hartline, M. 2011, Marketing Strategy, South-Western Press, London. Kotler, P. 2007, Marketing Management, Pearson, London. Usa, I. 2009, U.K. Biotechnology Products Exporters, International Business Press, London. Wright, T. 2012, Gower Handbook of Discrimination at Work, Gower Press, London. Read More