Strike a Symptom of Ail in Industry - Essay Example

Strike a Symptom of Fail in Industry Name Course: Institution Date: Introduction With the increasing demand for better personal income among the population, the need for a better pay for employees is inevitable. Employees in the contemporary global system have become more knowledgeable hence the demand for better payments (Fisher, 1973, p.14). Strike of employees is a reflection of dissatisfaction in part of the employees. Unsatisfied employee is characterized by little motivation for work hence unproductivity. In this regard, a strike is a reflection of underperforming economy or industry. For instance, in regards to the strike in Cambodia, the country lost over $20 billion. This is a huge amount that can be used to improve a vital sector in economy such education, health, security and many more. For a country to incur such a loss due to strike, it means the economy is not doing a great deal to its labor force. Business sectors have been the backbone for most industries (Fisher, 1973, p.25). That is; if the business sector is underperforming then the general economy is underperforming. However, the increased globalization has been a driving in business growth. With the increased global innovations, firms can adopt strategies that will ensure that they manage their productivity well hence satisfied employees. This paper, therefore, focuses on the role of globalization in improving economic sectors that will ensure productivity firms, employees and other economic agents. Globalization in the business sector Into the new system approach to which business are heading towards in the new business world that has evolved over centuries. There are several challenges faced by businesses. A firm has to ensure that it has a stable and all-round strategy to curb these challenges. There has been a significant change in the business world. Boundary lines between nations are slowly subsiding due to globalization thus expanding the reach of various business opportunity. When this happens, one will start to consider the issues theory that come with the widening of business internationally on a large scale. Most of the business ventures in the 21st century are corporate (Das, 2015, p.19). One has to be well up to date with the corporate governance that comes with decision making. This is so as societies have started to hold corporately accountable for every action they make. Business concepts have developed over an extended period and have slowly developed and grown into a larger field. Through understanding the theories and historical background of its growth one notices the changes and how there came rise to the new thinking that is system thinking that is far much advantageous than the traditional thinking (Das, 2015, p.29). Through globalization, there is the dawn of the new era in the business world as entrepreneurs are shifting to corporate governance where there is accountability in everything. The goods and services have to be spread out over the world with the expansion of business territories hence improving the global commerce. With these growths and sphere of influence, the United Nation created a pact that helps in sustaining the entrepreneurs. There is a corporate social responsibility of which caters for a lot (United Nations, 2004, p.52). Firms responsibility Many businesses fail in the review and communication to the public hence run at a loss. One has to understand the theory well for them to implement. It’s through the public that the knowledge is acquired and the framework of which the gaining of the knowledge that companies can distinguish between false knowledge and gained knowledge through evaluation and investigations. In most cases for one to be more successful in these business one has to treat people with respect and use that opportunity for the better good since it has mutual benefits to the company as a whole and the public as well. One also benefits from that (Kapila & Mead, 2002, p.33). It is through joining the united nation that most companies benefits and improve their field of business. It has a reputation and a magnificent brand value to the public of which includes both the consumers and the investors. The productivity and the morale of the employees increase. The field of operation widens hence creating greater transparency and accountability through a communal communication on the progress. There is a platform where there is sharing and exchanging of the best emerging practices that help to advance the practical solutions and strategies to the common challenges (Rossi, 2007, p.43). Socially innovative or socially responsible practices are the new concepts, ideas and organization that accomplishes the social demands of different elements that can arise from any platform be it education wise to health and business of which it strengthens the civil society it has an open source method and technique. Primarily it’s not centered on ways of maximizing profits while commercial practices can be said to refer to carrying out business process or practices with its primary aim is making profits (Macpherson & Miller, 2007, p.35). Social innovations are mostly considered to be a private sector in business corporate as many social challenges have been brought up by entrepreneurship. Land degradation, global warming, declining birth rates and much more. There is a need to look into it further to create clear-cut distinction within the social innovations and the commercial practices. These were as a result of commercial practices whereby the business company only took the profit direction not considering the effects of their impact. Social innovation is seen as a corrective measure to the current changes. With rising social innovation there is a great impact on commercial practices as corporate are slowly shifting towards these directions. Though not so much since they are still after profits but also geared towards socially accepted manner. It seems like being more dependent on public charity. With social innovation, the commercial practice aims at being independent of the public funds (Aldcroft, & Oliver, p.54). They seek to bring about the change in society and supports the movements towards the sustainable development of the society to the extent that they raise money which covers all the cost, and the business enterprise remains dependent. These funds are raised through social activities. With social responsibility practices, the commercial practices are changed too. They have to meet the social needs, induce desired behavior and social change and also make a profit of which it may seem irrelevant at first, but still it’s their consideration. Not only does this brings out the social initiative, but it is also making their profit as a business of which it enables them to thrive successfully in both ways. Not all commercial practices can be said to be affected by social innovation but some for example when a business idea of a company brings a social change (Kapila & Mead, 2002, p.55). With the social responsibility in the commercial practices, many companies may benefit and be successful regarding bringing change to the society and also be able to make their profit from that. From week one to week seven lecture. One has to be well learned in the field of business. You have to understand the culture, the origin and the growth. There is the theoretical part of it and the practical part of it. One has to figure out the reasons behind their actions. For example, when starting a business, you have to have a reason as to why you want to initiate the business and how it will benefit you, the stakeholder, the consumer and the society as a whole. How you get your information is a critical role. Note that not all that you perceive is correct. One has to get various information and take them into account (Das, 2015, p.71). Think of the global compact that mostly control the global market one has to choose the one that is best considering the social innovations but also brings profit. Try change the societal behavior towards saving Mother Nature instead of destroying it and tarnishing. Look at the long term benefits of which as a human you will enjoy and generations to follow. Various principles govern the world of business. For instance, creating a limited potential to the field concerning the organization is vital principle of business operation (Rossi, 2007, p.71). Theoretical principles These theoretical underpinnings also known as the bases, the stronghold of the theories that are interconnected into the world of business as we refer to the lecture from week one to seven. Delaying of payment of workers which a time leads to a strike cause of unrest from the employees and the support they receive from the workers union tending to fight for their rights. With the lack of understanding in the theoretical part, there is a complex misunderstanding thus leading to business failure and punctuality (Jalan, 2004, p.63). In some cases due to greed and competition in the market, some unions doesn’t consider protocol they just rush into support of workers to market themselves of which diminishes the value and identity of a corporate that is supposed to give proper guidelines to the people. In business one has to think and also make decisions of which has to help to build the company in business. Most enterprises that are in business tend to be closer to its consumers. The consumers of their product could reach them on concern about anything that involves the companies. Most corporate companies have established a well and structured system of communication, for example, a web page where consumer contacts them from there or get any relevant information that they want (Jalan, 2004, p.75). Through corporate governance, there is a clear cut order that controls the relationship in the businesses. There is transparency, accountability, fairness and the independence in which the stakeholders/shareholders the managerial system, the workers and the consumers share. Through the newspaper of which shows and sometimes advertises what is going on in a specific field or area. It’s through these several corporate principles that help in satisfying the public domain to its maximum. Before getting into the corporate sphere, integrity and self-evaluation start with oneself. One has as to be straightforward and accountable for the choice that they make. With increased globalization the world is becoming a small marketplace where people from different regions interact as on big family in the field of business. There is brain drain whereby skilled and highly educated professionals migrate to developed countries (Rossi, 2007, p.65). Besides, there is increased environmental harm and outsourcing whereby jobs are mostly moved to countries that are developing leaving countries that are already developed with no jobs. With the current business environment of which is placing fresh demands on companies making them desperate trying to solve this and trying to find a source that is sustainable competitive advantages. With the growth in these fields, there are globally accepted law that are governing these areas. Countries drafting new legislation to govern them and also the United Nations global compact that is reinforced by the member states (Kapila & Mead, 2002, p.119). Though this is happening, some business corporate has applied corporate social responsibility of which they practice today to expand their markets and territories in the world. These have empowered the business ventures to side their operations and strategies to be in-line with the ten principles in the area of environment, labor, human rights and anti-corruption. On focusing on why it operates not only on just how some business leaders make the right choices and actions that interrelate with other activities. In doing so, they avoid issues that spoil the companies name in a business field such as strike from workers and destruction of the environment as they expand their territories (Macpherson & Miller, 2007, p.89). Conclusion An individual has to realize that there is a role that they play when they decide to venture into business. The choice that one makes as an individual will come to affect the whole corporate and in the end, affect the business and its effect spreads wide to the society too. For example, when a water company is in progress, and an employee in the company decides not to treat the water. His decision will affect the water company when a client falls ill after drinking the water. His choice also affects the reputation of the water company. There should be an identity that makes one to be outstanding and of which you can identify yourself with (Jalan, 2004, p.81). There are various identification markers. Flexibility is a pivotal role as the field keeps on changing over and over again within a short period. With globalization be ready to spread your reach and circle of influence that will be there as one of the ventures into these fields. In conclusion, there are several entrepreneurs with the various perspective of which has more attention to the financial aspects but also contribute to the success of the social enterprise. There are extra bonuses and benefits as you enter the field and widen your thinking as you will be more marketable outside in the field of business. References Aldcroft, D. H., & Oliver, M. J. (2000). Trade unions and the economy: 1870-2000. Aldershot [u.a.], Ashgate. Das, R. C. (2015). Handbook of research on globalization, investment, and growth-implications of confidence and governance. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=1004928. Fisher, M. R. (1973). Measurement of labour disputes and their economic effects. [Paris], Organisation for Economic Co-operation and Development. Jalan, P. K. (2004). Industrial sector reforms in globalization era. New Delhi, India, Sarup & Sons Kapila, S., & Mead, D. C. (2002). Building businesses with small producers successful business development services in Africa, Asia and Latin America. Ottawa, Ont, International Development Research Centre. http://www.deslibris.ca/ID/405858. Macpherson, D., & Miller, D. (2007). Breakthrough business development a 90-day plan to build your client base and take your business to the next level. Mississauga, Ont, J. Wiley & Sons Canada. http://www.books24x7.com/marc.asp?bookid=20528. Rossi, I. (2007). Frontiers of globalization research: theoretical and methodological approaches. New York, Springer Science + Business Media. UNITED NATIONS. (2004). Meeting the challenges in an era of globalization by strengthening regional development cooperation. New York, UN. Read More