How Has Globalization Affected Corporate Strategy in the 21st Century Essay Example for Free

How Has Globalization Affected Corporate Strategy in the 21st Century Essay In the last 21 years the notion of a multinational company has changed significantly. This is best demonstrated by the 1973 United Nations definition, which clearly stated an enterprise is multinational if it controls assets, factories, mines, sales offices, and the like in two or more countries (Bartlett, Ghoshal 2000 p.3). As we know a multinational corporation is much more then just that it controls foreign assets, it must also have a substantial direct investment in foreign countries, as well as engaging in some form of management of these foreign assets. The evolution of corporations over this time has been somewhat difficult and by no means is the process of change finalized. As with most things this evolution and learning process could be seen as being life long. The environment in which we operate clearly evolves each year and to stay ahead businesses are now required to stay ahead of developments to compete. Some of the slower players, such as Phillips (Bartlett 1999) merely lost market share through this evolution, others in the past and perhaps in the future will lose their businesses. To understand the importance of multinational corporations in relation to the world economy we see that they account for over 40 percent of the worlds manufacturing output, and almost a quarter of world trade (Bartlett, Ghoshal 2000 p.3). Although the focus is often on the larger players such as Ford, Procter and Gamble, or Coca Cola as time progresses it is more the smaller companies which we will need to keep an eye on, as they become important players, especially in international niche markets(Bartlett, Ghoshal 2000 p.3). Traditionally there were three motivations for most organisations to enter international markets, or to undertake investment overseas. These were: 1. Suppliers the ongoing need to source supplies for operations (adapted from Bartlett, Ghoshal 1989, 2000). 2. Markets seeking additional markets to sell products. Traditionally companies went international to sell excess production lines, or to meet one off needs. The market then moved to increased competition where players were keen to be the first mover to a market, so as to gain a competitive advantage. Corporations were often driven by the home country size, with the need for further consumers for ongoing viability and growth (adapted from Bartlett, Ghoshal 1989, 2000) 3. Lower Cost by seeking production facilities which would attract lower labor costs and hence higher profits. Clothing and electronics were the first movers in this strategy, usually looking to developing countries such as China or Taiwan. This is still used somewhat today as a strategy, such as large call centers providing services in India for most Australian banks (adapted from Bartlett, Ghoshal 1989, 2000) It is not my intention to go into the advantages and disadvantages of a corporation entering an international market, or to continue to operate in an international market, beyond the above three initial drivers. What is imperative that in the 21st Century an organisation must seek a strategy that meets the organisations ongoing needs which is clear and precise so as to provide direction for future growth. Due to the ongoing worldwide demand after WWII, most organisations prospered when entering international markets. Often however the strategies to entry were ad hoc and did not provide clear objectives or guidance for ongoing management. Operations were based on an ethnocentric approach. Even though at the time they were referred to as Multinational Corporations, literature now refers to them as International Corporations. As international operations expanded and took on a more important role in the organisation, such as being a key profit centre, or perhaps a product innovation being conceived in an offshore operation, they tended to come under increased management scrutiny, such as the case with Fuji Xerox (Gomes-Casseres, McQuade 1991). This then progressed the corporation to a multinational approach, international markets being as important or even more important then the home market, which is more a polycentric approach to management. The potential from these operations were reviewed by management; the possibilities for cost reductions due to standardization moved most corporations onto the next phase being the global corporation mentality. This is that the entire world is a potential market. Retaining a image from their initial home country, such as McDonalds, they seek to enter all markets to service all customers, hence a regiocentric or geocentric philosophy of management. Bartlett and Ghoshal have gone beyond this to advocate the development of the transnational corporation. This takes the concept of global corporations one step further. Corporations to prosper in a globally competitive environment, should concentrate wherever possible on responding to cost pressures, leveraging of knowledge and information, whilst ensuring local responsiveness to consumer needs (1989 p.13). Cost reduction are imperative to ensure the ongoing viability of corporations. The sharing of costs globally for items such as R D and mass production both provide examples of significant cost reductions, while enhancing learning and knowledge. By increasing the availability of information across the group you are more likely to also encounter a higher quality product as the innovation and knowledge is shared for the corporations greater good. Often companies forget that knowledge does not just reside in just the home country. Important information such as the local consumer market are often best to be determined by local managers so as to respond to local needs. In relation to local responsiveness Theodore Levitt (1983) provides a somewhat extreme view of the global market. His philosophy is that technological, social and economic developments over the last two decades have combined to create a unified world marketplace in which companies must capture global-scale economies to remain competitive. As we have discussed, the need to become competitive through reduction in costs is imperative for every business. However Levitts concept of a unified marketplace with homogenous needs has still some way to go. As researched by Procter and Gamble even how we wash our clothes differs throughout the world, sometimes even within each country. The provision of a standardized product to suit all in this industry would be a failure due to not meeting the needs of local consumers (Bartlett 1983). When we review these three elements of cost reduction, leverage of knowledge and local responsiveness we are aware that these terms are somewhat contradictory. History tells us that to provide local responsiveness you need to increase costs to increase the number of products which meet a specific consumer groups needs. The alternative is to standardize products to achieve economies of scale during production and marketing. Caterpillar has somewhat successfully implemented such a strategy. They redesigned their products around the use of standardized components. These are produced on mass through large production facilities to reduce the component costs and provide economies of scale. Machines are then transported to foreign markets where localized knowledge and components adapt the machines to the needs of local consumers (Srinivasa 1985). The overall approach is that they are able to combine all three elements of the transnational approach. Corporations also need to be aware of the increasingly complex nature of undertaking business in an international market. Social, cultural, and political environments, as well as currency fluctuations, and geographic diversity need to be considered carefully in any decision to undertake a foreign operation. It is best to research thoroughly and constantly review any strategy for overseas ventures as situations can change as in any business venture quite quickly. An example of this would be the increased use of Indonesia as a low cost production base for Australian corporations. With the increased political instability and also terrorism most corporations would be considering the ongoing viability of continuing in this market. Finally corporations need to be aware that to make any significant changes to an corporation strategy or structure it is both extremely complex, time consuming and challenging. As Ford has discovered, by constantly changing strategies to seek higher profitability, all they have been able to achieve has been another announcement of huge losses in 2001 from failed global ventures (Hill, Jones 2004 p276). The move to a transnational approach for most corporations would need to be a slow progression, while for some it is even perhaps out of reach. By focusing on the main elements of cost reduction, knowledge leveraging and local differentiation perhaps this will provide an avenue in the future for continued competitive advantage in an environment which is slowly moving towards Levitts concept of the global village (1983). Perhaps the key lies with Bartlett and Ghoshal when they tell us that companies must now respond simultaneously to diverse and often conflicting strategic needs. Today, no firm can succeed with a relatively unidimensional strategic capability that emphasizes only efficiency, or responsiveness, or leveraging of parent company knowledge and competencies. To win, a company must now achieve all three goals at the same time (1989 p 25). REFERENCE LISTING Bartlett, Christopher A. 1983 Case 6-1 Proctor and Gamble Europe: Vizir Launch, taken from Bartlett, Christopher A. Ghoshal, Sumantra 2000 Text, Cases, and Readings in Cross-Border Management, 3rd Edn, McGraw-Hill International Editions, Singapore, pp 632 647. Bartlett, Christopher A. Ghoshal, Sumantra 1989 Managing Across Borders: The Transnational Solution, Harvard Business School Press, Boston Massachusetts. Barlett, Christopher A. 1999 Case 2 -4 Phillips and Matsushita 1998: Growth of 2 Companies, taken from Bartlett, Christopher A. Ghoshal, Sumantra 2000 Text, Cases, and Readings in Cross-Border Management, 3rd Edn, McGraw-Hill International Editions, Singapore, pp 164 -180 Bartlett, Christopher A. Ghoshal, Sumantra 2000 Text, Cases, and Readings in Cross-Border Management, 3rd Edn, McGraw-Hill International Editions, Singapore. Gomes-Casseres, Benjamin McQuade, Krista 1991 Case 4-1 Xerox and Fuji Xerox, taken from Bartlett, Christopher A. Ghoshal, Sumantra 2000 Text, Cases, and Readings in Cross-Border Management, 3rd Edn, McGraw-Hill International Editions, Singapore, pp 418 443 Hill, Charles W. L Jones, Gareth R. 2004 Strategic Management Theory: An Integrated Approach, 6th Edn, Houghton Mifflin Company, Boston, Massachusetts. Levitt, T. 1983 The Globalization of Markets Harvard Business Review, May June, pp. 92 102. Srinivasa, Rangan V. 1985 Case 3-1 Caterpillar Tractor Co., taken from Bartlett, Christopher A. Ghoshal, Sumantra 2000 Text, Cases, and Readings in Cross-Border Management, 3rd Edn, McGraw-Hill International Editions, Singapore, pp 259 279.

Why Religion Is Important Essay -- Why Study Religion?

"You cannot believe in God until you believe in yourself." -- Swami Vivekananda "I would rather live my life as if there is a God and die to find out there isn't, than live as if there isn't and to die to find out that there is." -- Albert Camus In this essay, I will explore the religious experience in general and some of its variations around the world. The focus will be on the types of religious beliefs and religious leaders, especially in small-scale societies. An exploration of Christianity, Judaism, Islam, or any other major religion is beyond the scope of this essay. The approach taken is that of cultural relativity--religious practices or beliefs are not evaluated in terms of their "correctness" or "sophistication" but, rather, in terms of their function within the societies that have them. What is Religion? A religion is a system of beliefs usually involving the worship of supernatural forces or beings. Religious beliefs provide shape and meaning to one's perception of the universe. In other words, they provide a sense of order in what might otherwise be seen as a chaotic existence. Religions also provide understanding and meaning for inexplicable events such as a loved one being killed in an earthquake or some other unpredictable force of nature. For most religious people, their beliefs about the supernatural are at the very core of their world views. Rituals in Religion The performance of rituals is an integral part of all religions. Rituals are stylized and usually repetitive acts that take place at a set time and location. They almost always involve the use of symbolic objects, words, and actions. For example, going to church on Sunday is a common religious ritual for Christians around the... ...what is right and wrong behavior. If individuals do the right things in life, they may earn the approval of the gods. If they do the wrong things, they may suffer supernatural retribution. For instance, the most sacred text of Islam, the Koran, not only provides detailed lists of specific kinds of crimes and appropriate earthly punishments, but it also gives descriptions of how to do mundane tasks such as eating specific kinds of food. The sacred texts of religions usually set precedents for proper behavior in common situations. The Judeo-Christian Bible stories of Adam and Eve, Cain and Able, Noah, Job, Moses, Solomon, and even Jesus provide examples of how virtuous people should lead their lives. It does not matter whether the sacred stories or myths of a religion actually occurred in every detail--they are still illustrative of correct thought and behavior.

Addie Bundren’s Everlasting Impact

Addie Bundren’s Everlasting Impact Often times in novels, there will be a character that has the ability to appear as little as possible and still be able to have one of the biggest impacts on the rest of the characters and on the novel as a whole. In As I Lay Dying, Addie Bundren is one of those types of characters. She has only one chapter in the entire book, yet is somehow able to have the biggest influence on the rest of the characters. She is the basis of the story, and everything relates back to her. Addie Bundren seems to have such a heavy impact on the characters as they were constantly trying to please her. Darl always longed for her approval and was constantly jealous of her relationship with Jewel. He was always trying to provoke Jewel: â€Å"’You could borrow the loan of Vernon’s team and we could catch up with you,’ I say. ‘If she didn’t wait for us. ’ ‘Ah, shut your goddamn mouth,’ Jewel says. † (pg. 18) Addie seems to have enjoyed all the attention she was getting. She was constantly trying to fulfil her feeling of dissatisfaction, trying to find multiple ways to rid herself of the sickening feeling, but nothing she did helped. Her dissatisfaction was the centre of her life. Her character greatly affected all the characters in the novel. She was the spokes holding their family wheel together. Darl longed for her approval, while Jewel had her sitting on a pedestal. Anse, even through all his selfish, narcissistic ways, looked up to her and felt attached to her, even beyond her death. He felt like he owed her something. Her character is similar to Vardaman’s character in the sense that they are both unable to fully express themselves. Vardaman resorts to comparisons such as ‘my mother is a fish’ (pg. 84) while Addie resorts to having an affair with Whitefield. Addie is the basis of the book. Without her, there would not be a story. Her character has a powerful hold over the rest of the Bundrens, even after death. With her death, the characters could have just buried her wherever they felt convenient; however, they still follow through with her request. Though one could argue that they did so only for their own selfish benefits, their conversations never fail to relate back to her in one way or another. They feel compelled to grant her wishes, making references to her while on their journey, helping the reader piece Addie’s character together without her actually speaking. As I Lay Dying amplifies the feminist role with Addie Bundren. It ties her influence in with her motherly figure, making her a vital character in the novel. She has the rare ability to hold such a powerful control over the characters in the novel, making her a significant character with only one chapter.

Misconception of Womens Role in Relationships - 1494 Words

Every person is entitled to his or her own personal ways of life to become his or her own individual. However, some people have unbalanced roles in life between themselves and their couple. The women in the relationship tend to be the persons who get manipulated into just providing and satisfying their significant other’s needs. This ongoing unbalance between the sexes, has been happening since forever and women feel secure when being together with a man. Mrs. Ames from Astronomer’s wife and Jig from Hills like White Elephants are both women who have depended on a man for secureness but with ambiguous communication, these women are finding affection elsewhere. Mrs. Ames from Astronomer’s wife is a great illustration of women feeling†¦show more content†¦Ames gets up, please tell him I’ve gone down† (65). A very similar theme happened in the story of the Hills have White Elephants with relationship problems. A women named Jig and this American man were at a train station waiting for a train to take them to Madrid. Its very hot so the American man orders two beer for the couple, while waiting the woman named Jig mentions how â€Å"the hills look like white elephants†(400). Trying to make an obvious comment to the American about their situation. However, at the same time this couple is having some communication issues about an important issue they are having. Noticing the tension between them both, the American man orders more alcohol. Realizing how the only way this couple spend some time together is by â€Å"looking at things and try new drinks† (401), can explain the small talk and the woman getting tired of doing the same things. The American man trying to convince the woman to have an abortion by assuring her that â€Å"it’s really an awfully simple operation, it’s not really an operation at all† (401); shows how selfish this man really is. Even though he seems caring about going with Jig and staying with her throughout this â€Å"operation†. But having to ask his significant other to take the risk and even buying her beer while she is pregnant, does show how determine he really is to convince her not to keep their baby. But Jig wonders what they would do after this whole situation is taken care of and of course the AmericanShow MoreRelatedFeminism And Women s Equality936 Words   |  4 PagesThere are many misconceptions about feminism. Some men see feminists as lesbians or man haters. Anti-feminists typically dictate the term as supporting women’s equality and opposing men’s. In addition, some more common misconceptions consist of feminism being a movement only for gender equality, a fight for matriarchy and power, and male feminists being considered against their gender. Many individuals see the word Feminism, and immediately interpret it as a movement strictly for women’s causes. 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