Global Entrepreneurship - Essay Example

Management Education Management education has seen rapid growth and development since the last century all over the world. The US business education has been thoroughly dominated by the MBA and is widespread at all levels. The critics of US business education state that it is quite individualistic and analytical which only can create specialists and not the collaborative managers. The faculty lacks scholarship pluralism and follows conventional career path. The employees are trained through comprehensive programs of on job and off job trainings and billions of dollars are annually spent by the corporations in this regard. Training and Development is an integral part of business in the US (Tsang et al. 2013). Business education in Germany ignited its pace of growth in the beginning of 20th century. The MBA program is more focused on business economics while other subjects being added were HR, investment, marketing and controlling. German business education created thousands of business leaders who lead the German corporate world quite effectively. German business education primarily focuses on the innovation and contemporary managerial and corporate issues. It endeavors to integrate practical learning into the undergraduate and higher level of studies and assures to maintain global standards. In France, business education is influenced by quantitative aspects and is carried out through wide application of Mathematics in the business. French business courses vary from certificate courses for professionals to the long courses and degree programs for new entrants and experienced corporate managers. The key focus is over excelling the business dilemmas through quantitative business research approach. The business education of UK is widely carried out by the legacy of Oxbridge accountancy and hence the accounting part of business is much stressed in the UK’s business education. British business education chiefly focuses over the financial part; however other functional areas like HRM and marketing are also not ignored but business leaders in most of corporate sector are finance and accounts experts. UK’s accountancy courses are globally accepted and are attempted to be acquired by several people from all over the world. Corporations of Germany, UK and France provide general to specific trainings based on the need assessment but they are not as affluent as compared with that of the firms of US (Warren and James, 2005). Business education and training contributes significantly towards competitiveness of the firms as one may observe largest growing firms are US based because of their well trained human resource (Pfeffer and Fong, 2004). US Management The scientific management resulted in great evolution of US business and the innovation management and sub division of labor helped the US business to grow at faster pace than the rest of the world. Research and development, mass production, efficiency and increased wages for the labors also provided adequate boost to the American business and the vast growing firms geographically expanded and took over the European markets through their corporate Americanization. At the same time problems emerge in the system like agency problems, separation of control from the ownership, unrelated diversification, etc. US businesses stay sustainable through innovation and change management however economic meltdown obliges them to downsize (Margaret, 2010). German business system has been able to sustain the non price sensitive markets through collective bargains and consensus management and their primary focus is over long term strategy of production and export.UK business system is also quite similar to that and follows long term strategic planning. In the UK, businesses tend to expand geographically like that of US corporations e.g. Tesco, BT, etc. French business system is driven by functionality and rigid hierarchy and is found more directive than collaborative. The focus is to produce and supply hi tech products to the international markets. European business systems endeavor to stay sustainable in the economic crisis through strategic management that helps them to cope up the crisis like merging, joint venturing, co-branding, etc (Cappelli, 2009). Japanese Management Japanese management views human resource models of the U.S. with skepticism because in certain ways the broader concepts of people’s respect and the core aim of human resource development (integrated in the Japanese management) are contradicting. Unlike American HRM, Japanese HRM does not define the employees as a resource for the organization rather it considers as member of the organization family and the employees are managed rather than being developed. However as a response to the in depth economic crisis of Japan that remained for more than a decade, pushed towards making a shift to western oriented human resource management. Thus we can observe much mirroring of HRM policies of the U.S. in current times than that of the past. The key issues of HRM in Japan attempt to find a certain balance between the traditional Japanese HRM and the contemporary principles of HRM which are inspired by specific American strategies (Suzuki, 1997). Japanese business system has adopted significant changes that have not only revolutionized the industry of Japan to become the market leader rather those changes have helped to take them out of economic crisis. Like the application and development of TQM, six sigma, Lean production, Kaizen have ultimately helped the Japanese companies to become more efficient by reducing the production waste and increasing the efficacy of individuals. Secondly, the Japanese Business system has shown a tilt from conventional autocratic organizational structure towards the flat and collaborative one (Coffey, 2003). European Management Around 85% of the major assets of the United States have been operated and owned by the private sector. It is thought of as a shared responsibility of the government and the private sector to go hand in hand for the development of businesses and infrastructure. Due to the rapid growth and development of technological sector, there is much dependence of businesses over the technology in current era and hence they become more vulnerable. The government of U.S. ensures maximum safety and least exploitation due to vulnerability of technology through law enforcement and certain other measures. Also, the government promotes corporate sector through institution building and autonomy. French government adopts specific strategies to acquire the external markets in order to enhance the exports. Unlike American government, it controls and intervene the corporate sector and is less autonomous than that of the U.S. The French government endeavors to provide basic infrastructure to the private sector to develop and prosper (Whittington and Mayer 2002). European management is quite collaborative and stakeholders show concern for the performance of organization like banks operating in France, Germany, Britain and rest of Europe. Government bodies in the Europe help corporations to improve their competitive advantage by providing professional aid and infrastructure. However the influence of governmental bodies is not much as voluntarily internal controls are placed in action that the statutory enforcements. The internal governing bodies are autonomous and have a mechanism of check and balance that disconnects the direct intervention of government in the corporations. However there is regulatory framework and government enforces its laws and actions trough that framework assuring proper reporting and disclosure. Both European and U.S. systems are contextually right at their own place but American management system is more appropriate as it provides detailed framework and at the same time democratic culture as well; however European management approach is also fine, more democratic but less efficient (Whittington and Mayer, 2002). Most of Italian and German firms are small and medium in size and have less than 250 employees yet they are able to grasp the international market because they select international market wisely by covering the aspects like entry barriers, market attractiveness, etc. They have got wide variety of industries, products and brands and they apply systematic approach for international market selection that assures them to attain competitiveness. As those German and Italian firms pay strong emphasis over the expansion, that’s why they lead to regenerate the capitalist society by turning into giant capital units through expansion, mergers and acquisitions. Another reason is the ability of firms to quantify and analyze the markets and appropriately apply penetration strategies. European economy has found capitalism as the most efficient economic system and that’s why it sustains over the continuous period and remains regenerative throughout due to the economic space provided to the small and medium firms that expand geographically and sustain at harder times (Ulrich, 1997). References Tsang, H. et al. (2013), The Routledge Companion to International Management Education. Warren, B. and James, T. (2005) ‘How Business Schools Lost Their Way’, Harvard Business Review. Pfeffer, J. and Fong, C.(2004) ‘The Business School ‘Business’: Some lessons from the US experience’ Journal of Management Studies (8). Margaret, G. (2010) ‘Entrepreneurship in the United States, 1920-2000’, The Invention of Enterprise eds David Landes, Joel Mokyr, Will Baumol ch. 14. Cappelli, P. (2009) ‘The Future of the US Business Model and the Rise of Competitors’, Academy of Management Perspectives 23 (2). Suzuki, K. (1997) “From Zaibatsu to Corporate Complexes”, in T. Shiba and M. Shimotani (eds) Beyond the Firm. Coffey, D (2003) ‘Globalization, vertical relations, and the J-mode firm’, Journal of Post Keynesian economics, Vol. 26, 1. Whittington, R. and Mayer, M. (2002) The European Corporation: Strategy, Structure and Social Science, chapters 1-6. Ulrich W. (1997), "Germany: Competition abroad – co-operation at home, 1870-1990", in A. D. Chandler, F. Amatori and T.Hikino (eds), Big Business and the Wealth of Nations. Read More