Global awareness and modern business survival

by | Nov 18, 2021 | Homework Help

Compose a 750 words assignment on global awareness and modern business survival. Basically, in order for an organization to remain relevant in the market for long-term basis, it is critical for the organization to find ways of developing and maintaining competitive advantage. This can only be learned from contemplation of how different markets around the world behaves and what is required to create a strategy that would keep the organization relevant even in the long run. Although the primary goal of every organization is to make profits, it is essential to study other areas relevant to keep the organization relevant in the market. The global business operation requires organizations to consider strategic areas that the customer and community are equally focusing on and define as practices of a successful organization. For instance, although definition of organizations focusing on long-term goals tends to or revolves around sustainability, other areas are critical focusing on or that foster the sustainability. Notably, issues of corporate social responsibility have been highly prioritized globally as to having played a key role in strategically placing organizations in a position to thrive in a highly competitive market. Specifically, customers and the community through which businesses operates are looking beyond what the business offers. This is critical because issues such as environmental and social are considered ideal in any business operations. In addition, governance issues have also been prioritized globally. Studies have documented that organizations that have good practices of governance tends to win the favor of investors and employees. This means that such organizations recognize employees as part of the primary assets of the organization thus according them the treatment they deserve. In this regard, global awareness means that the organization learns different ways through which such matters other than profit gaining can positively contribute to the organization. Incentives such as different and new ways of attracting and retaining competent workforce are contemplated upon. In another dimension, due to globalization, different ideas, innovations, and new ways of conducting business are learned. In fact, these issues can easily be learned by subjecting not only the organization leaders, but also the workforce in training and development programs. The idea behind such a move is to produce or develop people who can formulate and integrate multinational strategies in the organization. Globalization has effects both for local businesses as well as well as the international businesses. In a global business environment, every business in the world is competing with another business in the world, as long as they are in the same sector. For instance, a dairy farmer in America is in competition with a dairy farmer in Africa. In this regard, if a dairy farmer does fails to gain the competition which makes a dairy farmer in the Africa has, the farmer will have issues. This phenomenon can be exemplified in the trade relations between the China and the United States (China Briefing Media, 2006). Because Chinese manufacturers can achieve the highest competencies as compared to US firms, Chinese producers have taken over the US economy. If a firm in one market in the world is unable to meet the competencies in the global economy, the firm will be pushed out of the market by a firm that is far away in the world. This has been seen in numerous situations. For instance, South African farmers have been able to find way to produce low price and high quality agricultural products.

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