Benefits of Globalization in Business
The word limit is 750 per question, and this does not include any graphs, or references.
Regarding graphs or diagrams, I will suggest including them if they support and illustrate your points, footnote references must be included where appropriate. 150 extra words included to cover any references / graphs
Question 1
The former US President, Bill Clinton, described globalisation as “the economic equivalent
of a force of nature, like wind or water. It pushes countries to specialise and swap, making
them richer, and the world smaller”.
In the first twenty years of this century, globalisation has been credited as a major contributor
to global economic growth. However, it is now said that the tide of globalisation is turning,
and that major companies are re-assessing their strategies in such aspects as offshoring.
Identify and evaluate the benefits that globalisation has brought for major business
operations in terms of operations strategy, and, also, the reasons for changes in this trend,
away from globalised approaches. (750 words limit)
Question 2
Another impact of the Covid-19 pandemic has been a marked and sudden increase in the
proportion of people working from home. Early evidence suggests that this has also had an
impact on the degree of flexible working, in more than one sense. As organisations plan for
future business operations, particularly for the period when the pandemic is finally under
control, you have been asked to prepare a report to form a basis for future plans.
In this, you have been asked to identify and evaluate the positive and negative implications
of working from home for staff who have been able to do so and show in which ways greater
flexibility for people in these organisations has come about. You have also been asked to
provide your view on the long-term trends in terms of working practices, on the basis of
evidence of recent changes. (750 words limit)
OPERATIONS STRATEGY
Question 1
Globalization is the core of current business activities and operations. The expansion of markets across borders and the ability to move goods and services across boundaries are all attributes of globalization. Businesses have welcomed globalization in various ways through the new trends experienced in their operational strategies. The desire to grow sales and profits has compelled firms to explore and expand their markets. Globalization has opened new markets for companies to grow internationally. The companies traditionally confined to local business operations are now big companies with active operations in the international markets. The new markets force businesses to find new strategies to operate in the broad markets comfortably. Major companies find their ways into the foreign states and operate as foreign direct investors. Such strategies allow the companies to increase their presence internationally and eventually expand their revenue generating activities.
Operations strategy in the major firms has become better through the communications ability facilitated by globalization. Industrialization triggered new technology dynamics that businesses adopt in their operations. Companies with offshore branches and outlets can easily link their businesses and operate with the same business idea and processes. The managers across the different outlets in the international environment can communicate and have a similar vision and mission for their company. The innovations in telecommunication and computing evolution make up the factors that trigger the increase of globalization. In 1995, the World Wide Web (www) had twenty million users. Today, there are over one billion users of the web. The rapid growth and the adoption of technology have the major companies make adequate use of the technology and enhanced their strategic operations (Mahmutovic, Hadziahmetovic & Talovic, 2014). The coordination between companies and their vendors has become efficient. Communication through the available technology abilities makes their relationship better.
Globalization allows major companies to employ diversity strategies in their recruitment and retention of employees. The current world is connected in ways that assure firms of great talents from diverse communities. Companies in the international environment can seek employees from other regions that were traditionally out of reach. The ease of movement across countries is made possible by the global aspect. The world experiences major road networks, rail transport, seaways, and air transport to various countries across the world. Companies can have work visas for their candidates from other countries (Johnston, 2019). Global Research and Development (R&D) has made it evident that companies can find excellent talents from a diverse pool of talents. The research and development initiatives companies adopt show how individuals from various backgrounds can enhance the work practices and team efforts in a company. Major companies have adopted such strategies and made efforts to improve their employee population. The recruitment strategies employed in such instances assures firms that they have the best talents and excellent employee network.
Those who favor globalization posit that businesses benefit from the wide array of products, services, technology, and knowledge, among others. Globalization makes such aspects available and tends to have the ability to reach a larger customer base. The knowledge and concept of these possibilities drive companies to define strategies that will help them meet the customer demands in the market. Major companies have shifted their marketing strategies to online platforms. The internet makes it easier for companies to reach a wider customer base and increase their products' brand awareness. The online platform also allows companies to interact with their customers and seek their input on the business products and services. Companies implement strategic tactics to get feedback from their customers through online platforms. The feedback is sought from customers globally and is used to make critical changes and review the business processes, products, or services. Such strategies allow businesses to determine what the customers expect and use their thoughts, ideas, or suggestions to meet their demands.
Globalization allows businesses to explore the markets and predict the future trends in their industries. Major companies use R&D to study the market trends across the globe and note the changes, issues, or developments in the market. Globalization makes access to information easier as companies share their stories across the available technology networks. Research and development give predictive statistics and trends which major companies can appreciate. For example, companies can explore their indu...