Organizations and Achieving Optimal Success - Case Study Example

Comments (1)
Summary
The case study "Organizations and Achieving Optimal Success" demonstrates the organization's entry into a foreign market and internationalization process. As a the number of factors, both in the macro and microenvironment, could impact the organization’s entry into a foreign market and its operations. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.4% of users find it useful
Organizations and Achieving Optimal Success
Read TextPreview

Extract of sample "Organizations and Achieving Optimal Success"

Download file to see previous pages As the factors concerning the problem could be influenced by local cultural, political, social and economic issues, they have to be studied in an in-depth manner before entering the foreign market, and that will be the focus of this report. Introduction Organizations wanting to achieve optimal success will always want to expand their geographical and financial ‘boundaries’, thus going on the path of internationalization. That is, organizations could think of entering newer or foreign markets after achieving sizable success in their domestic markets or due to strong competition or saturation in their domestic market or importantly after seeing feasible and good opportunities in foreign markets or markets particularly due globalization facilitated opportunities, etc. Thus, internationalization is kind of becoming a happening concept used by many organizations to expand their reach globally. “As the global economy expands, as more products and services compete on a global basis and as more and more firms operate outside their countries of origin, the impact on various business functions becomes more pronounced” (Briscoe and Schuler 2004). Whatever be the motivations or objectives for the organizations to enter foreign markets, it is of crucial importance for that organization to study that foreign market in a deep and extensive manner. According to Hill (2009), if a firm wants to expand its business to overseas markets, it must evaluate the potential of the country and the country-specific factors. Recruitment process After the organizations make its entry, to start their operations there organizations will have to send their own employees who are working in their home operations, then will initiate the recruitment process to recruit the local qualified employees and could also bring in employees from other Third countries. This factor of recruitment is in line with the theoretical concept of recruiting the three types of employees, Parent Country nationals (PCNs) who are brought from home operations, Host country nationals (HCNs) who are local employees and finally Third Country nationals (TCNs) (Scullion & Collings 2006). Among these three groups of employees, organizations have to focus maximally on the HCNs. Entering organizations are duty-bound to recruit a high number of HCNs because they have to give something to the population that hosts their organization and also for practical purposes including low-cost labour, logistical reasons, etc. Thus, when qualified at the same time low-cost labour is available, entering organizations can achieve two objectives in one stroke. Peng and Meyer (2011) discuss this recruitment process by stating how it involves “identification of suitable local employees, convincing them to apply for a job, and selecting the most suitable candidates for each job.” Management of recruited employees After the recruitment process, organizations have to consider the factor of aptly managing culturally different employees. That is, as each country will have certain distinct cultural traditions, and as the local employees would have imbued those traditions, it could be visible during their functioning, thereby necessitating apt management. Like the above-mentioned recruitment process, during organization functioning, it would be better for the organization to prepare and promote local employees to managerial positions. This is line with the theoretical concept that the organizations operating in foreign soils should follow the polycentric approach of training and developing prospective local talents to managerial positions, instead of following Ethnocentric (where PCN personnel are developed) and Geocentric (where equipped personnel irrespective of their nationality are promoted). ...Download file to see next pagesRead More
Comments (1)
Click to create a comment or rate a document
jo
jordonlemke added comment 11 months ago
Student rated this paper as
The topic of "Organisation's entry into a foreign market - internationalisation process" is quite often seen among the assignments in high school. Still, this essay opens a fresh perspective of seeing the issue. I’ll use the idea for my own essay.

CHECK THESE SAMPLES OF Organizations and Achieving Optimal Success

Optimal Educational Environment

...the responsibility of knowledge transfer to the teacher while ensuring the student remains passive has been the main undoing as far as the availing of an enabling learning environment is concerned (Bergin & Bergin, 2011). This paper explores the concept of optimal learning environment in which both teachers and students achieve peak performance. In particular, the paper explores the best practices for ensuring student safety, the strategies for meeting the needs of disabled students, and the possible challenges in meeting these needs. In addition, the paper discusses the techniques by which school districts and students may be protected from liability issues and the challenges in the protection...
10 Pages(2000 words)Research Paper

Optimal Bidding Strategies

...of a bidders expected surplus is dictated by lower a bid that increases surplus potential although on the other hand it reduces probability a bid becoming successful. More so, the probability of a bid becoming successful increases with valuation increase but decreases with an increase in the number of bidders with regards to their strategies and valuations. The basic optimal strategy for the first-price sealed bid auction is for a bidder to bid below the real valuation in order to make a profit. In case the bidder bids above or equal to the bid valuation, the payment may exceed or equal the bid valuation in case of a win bid, and thus, no optimization is...
6 Pages(1500 words)Essay

ACHIEVING WELLNESS

...? Achieving My Body Fitness Inserts His/Her Inserts Grade Inserts 31st March, Achieving My Body Fitness Dimensions of health According to Vivian H. Heyward (2003), for an individual to be considered healthy, there are other aspects that are considered apart from just eating well and having exercises. This involves balancing the various dimensions of health without overlooking any of them. The following dimensions of health are therefore essential for one to be healthy. Physical dimension of health basically involves the individual’s health of the body. This means that for the body to be considered healthy, respiration, musculoskeletal, digestion and elimination among other systems need to be functioning...
4 Pages(1000 words)Research Paper

Optimal Capital structure problems

...? Capital Structure Memo Irving Sharp, Chairman and CEO All Seasons Hotel. Dennis Mark, CFO All Seasons Hotel. Date: 3rd December 2013 Subject: Proposed Capital Structure It is important for “All Season” to come up with a specific debt to equity ratio that will optimize the cost of capital of a company. This is the position at which the company’s value will be maximized. The fact that Cost of Capital has been always been shallow, the maximum debt/equity ratio can be defeated without raising the cost of capital. This will create a range in the lower portion of the graph where the cost of capital is similar throughout the range. There is certainty of getting off these ranges. The cost of capital will rise when it is off the range... to the...
3 Pages(750 words)Coursework

Working capital management - a business organizations success

...on balancing working capital. Working capital management is essential for a business organization's success and even mere survival. By focusing in this aspect, companies are able to ensure sufficient cash flow in order to settle maturing short term obligations and finance expected operational expenses (McClure 2008). Without efficient techniques in managing working capital, a company can show profitability but might be illiquid to settle its current liabilities thereby jeopardizing its relationship with creditors. Working capital management also covers the efficient collection of accounts receivable and sale of inventory in order to generate cash. The better the company manages working capital, the less...
2 Pages(500 words)Essay

Why a College Degree is Important in Achieving Success

...economy. In the social reality of the 21st century people must seek education in order to get ahead in life. This paper analyzes the ways in which a college degree helps people attain the success they desire in life. A person’s level of intelligence does even if is real high, does not make a human exempt from the need of obtaining a college degree. Not having a college diploma closes many doors in the corporate world and limits the job alternatives a person can apply for. A person who has a bachelor’s degree earns an average salary of $51,554, which is much higher than the $28,645 average annual salary a person with a high diploma earns (Kelley, 2006). A college degree is a worthwhile investment in everyone’s future....
3 Pages(750 words)Essay

Achieving Success on International Assignments

...Achieving Success on International Assignments. As more companies grow and become globalised many employees are also being charged with international assignments and therefore it is important to be prepared. This involves assessing your own personality, team skills, as well as leadership in order to make sure they match international. With these important personal and corporate skills gained through experience with many people from across the world serving in different I believe I am ready to take up an international assignment anytime it is presented my way. If sent for an international assignment I believe I will easily achieve success owing to great interpersonal...
1 Pages(250 words)Essay

The Most Effective Means of Achieving Accountability in Organizations

...and the business executives are among the group of people who are usually behind the development of a corrupt business culture. Given that the shareholders within a business organization have the power to appoint or dismiss the members of the board of directors, the corporate law in Europe considers the need to investigate the shareholders and board of directors in situations wherein the practice of accounting fraud is suspected (Dine 2008). In this report, reasons why accounting is not the most effective way to achieve accountability within a business organization will be tackled in details. As part of going through the main discussion, the different ways of achieving...
12 Pages(3000 words)Book Report/Review

Total Quality Management: Achieving Long-Term Organizational Success

... TQM (Total Quality Management) is “a management approach that tries to achieve and sustain long term organizational success by encouraging employee feedback and participation, satisfying customer needs and expectations, respecting social values and beliefs and obeying governmental statutes and regulations” (Charantimath, 2003). This definition implies that TQM focuses on continuous improvement by involving people at all levels and looks at all processes at organizational level. It does not focus on just one part of the organization but the entire organization as a whole. It involves integrating the technical systems of an organization with the social...
10 Pages(2500 words)Research Paper

Achieving Project Management Success

... the university administration and complying with their rules and regulation. Also the business faces financial risks since the investment is limited by the owners of the business who would also be handling the management. References Appleby, Michael, Cutler, Neil, Gazzard, John, Goddard, Peter and Milne, Colin. What Price Cheap Food? Journal of Agricultural and Environmental Ethics, Vol. 16, Issue 4, p 3-12, 2003 Weinstein, Jonathan, Jaques, Timothy, Achieving Project Management Success in the Federal Government, USA: Management Concepts, 2010 Yarrow, Kit, and O’Donnell, Jayne (2009) Gen buY: how tweens, teens, and twenty-somethings are revolutionizing retail, California: Jossey-Bass... in the venture. Internal and External...
9 Pages(2250 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic Organizations and Achieving Optimal Success for FREE!

Contact Us