Contemporary Business Model - Essay Example

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The paper “Contemporary Business Model” summarizes that if earlier decisions were made by the business owner, who served as the disturbance handler and resource allocator, today in decision-making all workers are involved. New technology also improved automation, production, outsourcing decisions…
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Contemporary Business Model
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Download file to see previous pages Multinational firms are likely to undergo some internalization of innovation which is meant to disseminate activities and known globally, for example, a company like Tesco Company. It is therefore important to develop a mechanism possible for achieving competitive advantage. Technological changes improve corporate decisions, accountability and transparency thus improving the competitive advantage in the market and better margins.
This study focuses on the contemporary management issues faced by businesses as they enter the global market. It also shows the factors that influence the geographical location of businesses especially those that operate globally. The study tends to evaluate corporate governance and corporate social responsibility and the difference between the two in reference to the international market. Factors that influence an organization’s strategic planning and business decision making in relation to the location of its production are also analyzed. The study finally describes why most businesses chose technology as a major factor providing a competitive advantage to businesses.
The traditional management model of 1870 to 1914 indicated a golden age in the international market. This was different from the 21st century since there is an increased number of economic transactions. Global economy which first began after the Great War was crushed by the use of protectionism. The second one was based on multilateralism and trading blocks such as EU were involved which resulted in a rise in regional relationships. The current global economy is very different from the rest as it is characterized by an increased level of technology and there has been reduced costs and increased complexity in terms of technology. This has made large markets in the world seen too small internationally. There is also the growth of transnational strategic unions that change the organization method of operation in economic transactions. Global networks replace trade (Freeman 1984).
Finally, the economy in the 21st century is integrated through technological systems and not through organisational hierarchies. These results to a world that is technically networked and the national markets are losing their reputation since units and geography is not considered in the economic activities. Costs on research and development have increased rapidly as the product lifecycles are shrinking especially in industries such as telecommunications and pharmaceuticals. To sustain technological growth, companies ought to expand their production internationally. ...Download file to see next pagesRead More
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