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Contemporary issues in management - Essay Example

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Contemporary Issues in Management Name: Institution: Tutor: Course: Date: Introduction The business environment in which nearly all businesses operate in or ought to operate in is immensely defined by several factors, and those which greatly impact on the business activities of such businesses…
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Contemporary issues in management

Download file to see previous pages... In this study, the main theme will be the analysis of the impacts of both globalisation and organisational change and culture on the field of business management; especially with regard to the contemporary issues affected as a result of the same. To be able to achieve this, this essay shall focus on a structured format that will first briefly describe the concepts and then give an understanding of their impacts on the dynamic business environment. Brief description of the concepts of globalisation and organisational culture and change The definition for the concept of globalisation can be in various forms but, in the case of this essay, two profound definitions shall be adopted. The first is that it refers to the progress achieved towards the spreading out of financial viability and social ties among different countries in the course of the broadening of commercial institutions and the industrialist philosophy leading to the withdrawal of the world in trade and industry. A view of globalisation in this manner would imply to it as a wave of movement that is based on the capitalist philosophy that encompasses the expansion of social and economic ties between countries in the global scale. Subsequently, the concept of globalisation can be perceived to be the process of integration and movement of goods, people, money, business, culture, ideas and services on a global scale across national boundaries. In this definition, globalisation is perceived as a global coverage of the spread or increase in the global flow of goods, services, knowledge and resources worldwide. This is combined by the emergence of complimentary organisational set of structures that manage the expansion of the network of economic transactions and activities in an international scale. This idea espouses on the realization of the fact that, through globalisation, a global economy may easily allow for the operation of financial institutions and firms trans-nationally (AL-Hyari, Alnsour, Al-Weshah & Haffar, 2012.p.157-160). The significance of this in the global economy would be that the factors of production, goods and financial assets would be nearly perfect substitutes on a global scale hence, continue accelerating the growth prospects among developing nations. As such, it can be acknowledged that there are various dynamic propositions through which the impact of globalisation on the business environment can be analyzed. One such way can be through the analysis of the effects on the increased competition and achievement of competitive advantage. Another important aspect through which the impacts of globalisation can be analyzed is in consumer behaviour in which various firms and individualities have sought to enhance the business environment. This has been through the realization of various theories and their impacts on the global consumer trends. One such theory is the Hofstede’s dimension of culture. The second concept as will be discussed in this essay is organisational culture and its impact on the dynamism of business environments on a global scale. Businesses are made up of diverse people who are endowed with different personalities, talents and capabilities. Therefore, the likely expectation would that of a diverse business culture in every organisation. In most of the cases, these aspects of business ...Download file to see next pagesRead More
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