Global Factors Affecting Business - 1002 Words

Global factors affecting business The way of running the business differs from country to country. The marketing, sales and technical skills are required to increase the productivity of business. Business in general is enhanced when people from different cultures find new approaches to old problems, creating solutions by combining cultural perspectives and learning to see issues from the viewpoint of others. Business Environment consists of factors influential to the business operations. These factors are classified into two broad categories. These are: a) External or Uncontrollable factors of Business environment. b) Internal or Controllable factors of Business environment. External Factors: The factors those are not†¦show more content†¦Consumer religion, language, lifestyle patterns are all important information for successful business management. -Religious Considerations – appropriateness of some business ventures – e.g. selling condoms in staunchly Catholic countries -Impact on local communities of business development – availability of jobs, training, environmental impact for these communities -Impact on the environment – can impact on the businesses image -Ethical considerations -Cultural issues Impact on the environment b. Legal factors - These factors that influence business strategies are related to changes in government laws and regulations. For a successful business operation it is important that the businesses consider the legal issues involved in a particular situation and should have the capability to anticipate ways in which changes in laws will affect the way they must behave. Laws keep changing over a period of time. From the point of view of business it is important that they are aware of these changes in the areas of consumer protection legislation, environmental legislation, health safety and employment law, etc. c. Economic factors - These factors involve changes in the global economy. A rise in living standards would ultimately imply an increase in demand for products thereby, providing greater opportunities for businesses to make profits. An economy witnesses fluctuations in economic activities. This would imply that inShow MoreRelatedFactors Affecting Global Business Environment1589 Words   |  7 Pagesorganisational forms in global business environment, family businesses have been drawing attention among management scholars with a strong focus especially on â€Å"succession, performance, and governance† of these companies (Astrachan Shanker, 2003; Zahra Sharma, 2004). Although the first attempt to conduct research on family businesses can be traced back to Trow’s (1961) empirical study entitled â€Å"Executive succession in small companies† in which he investigated the factors that affect successionRead MoreGlobal Business Environment Factors Affecting Myanmar115 3 Words   |  5 Pagesof this report is to evaluate how a range of global business environment factors affect Myanmar, also known as Burma. The report will give insight into the demographics and political, economic and legal systems of Myanmar. It will explore in depth the economic growth of the country in recent years, as well as how foreign direct investment has affected the country. It aims to explain the nature and interconnectedness of factors within the global business environment with reference to theoretical conceptsRead MoreCompany Overview: Flight Centre in Australia1720 Words   |  7 PagesCompany in Australia (external and internal environment). Analyse how the environment might influence the companys management style. Introduction Flight Centre Limited engages in travel agency business activities. The organization focuses on the provision of complete travel service for leisure and business travellers in various countries across the globe. These nations include Australia, New Zealand, Canada, United States, Africa, United Kingdom, Europe, and Asia. In the context of Australia, theRead MoreEssay about PESTEL Analysis986 Words   |  4 PagesSelling goods in the global marketing is extremely challenging. Discuss the major political, economic, socio-cultural, technological, legal and ecological challenges that a global marketing manager may have to contend with? The following analysis known as the PESTEL analysis is a framework used to scan the organization’s external macro environment which refers to forces that are part of the larger society and affect the micro environment. Selling and marketing goods in the global market intensifiesRead MorePolitical And Business Risks By Withglobal Business1310 Words   |  6 PagesRunning head: POLITICAL AND BUSINESS RISKS Last Name 1Prepare a paper that addresses the political and business risks and the rewards associated withglobal business operations.Include a discussion of the impact of monetary exchange rates oncorporate profits. Your NameAmerican Military UniversityFINC300 POLITICAL AND BUSINESS RISKS Last Name 2Political and Business RisksMost corporationsRead MoreMicrosoft Internal And External Factors1652 Words   |  7 Pages Trends Business Environment: Successful companies practice a disciplined management strategy which encompasses the four functions of management: planning, organizing, leading, and controlling. The application of these management practices is evident in further analyzing the management construct of Microsoft Corporation. A global corporation who specializes in providing technology solutions for five different business segments ranging from personal computers to gaming devices, Microsoft has demonstratedRead MoreEssay on Model questions for Global Marketing1523 Words   |  7 Pagesï » ¿Model questions for Global Marketing Outline and discuss the principal causal factors that encourage firms to undertake the international marketing of their products and services. Cultural and political forces influence international marketing activity. Discuss the impact of these forces and illustrate your answers with examples. â€Å"The global competitor will seek to standardise his offering everywhere† (Levitt). Critically evaluate this view with specific reference to a firm’s internationalRead MoreWal-Mart Case Study1097 Words   |  5 Pageschallenging to identify and are affecting both the corporation and the industries in which it competes. Because they are indirect forces, which for the most part are out of management’s control, they may present threats and expose weaknesses. Some examples of environmental forces, which may present threats to Wal-Mart, are economic, political and legal forces. Being the world’s largest retailer means you’re the target of competition, locally and globally. As a global retailer, Wal-Mart is exposedRead MoreSwot Analysis Of Singapore Airlines1060 Words   |  5 Pagesinclude: The Global Traveller Award 2016 (US), TripAdvisor Travellers’ Choice Award 2017 (US), World Travel Award 2015 (UK), Business Traveller Award 2016 (Russ ia) (Singapore Airlines, 2017). The SIA is consistently ranked top 20 globally in terms of proceeds and market value (Burton, 2009). In 2010, the airline was ranked second globally as regards to market capitalization (IATA , 2011). 3.0 Macro Analysis 3.1 PESTEL Analysis This section analyses the external environmental factors that influenceRead MoreThe Competitive Forces Challenging Hertz1642 Words   |  7 Pagesproduct differentiation. With the company’s excellent economy of scale the new entrants might find difficult to survive. By aiming at the product differentiate Hertz gained very good customer loyalty which new entrants might lack. To initiate a rental business one needs to have good financial resources. The likelihood of achieving profit in the rental industry may serve as a low barrier to the new entrants. Secondly, Hertz also faces the threat of substitutes. There are other platforms such as train, taxi

Effect of Culture in International Business Essay

Introduction Culture is an important part of International Business. Culture is defining the collection of values, beliefs, behaviours, customs and attitudes of the member in the society. Culture is the behaviour that people act in the community. The characteristic of culture is also reflects learned behaviour that is transmitted from one member to another in society. There are also basic elements cultures such as social structure, language and religious. So the foreigner who wants to operate the business at the overseas market have to understand the culture at the local market to become successful. In this report also compare between the similarities of culture between two countries such as Thailand-Malaysia and different in culture†¦show more content†¦. Management teams are superior to employees, alder employees to the younger employees, and bosses to their subordinates. . When Thai organisation meeting the outsider, they will immediately try to place outsider within a hierarchy so they know how the outsider should be treated. . This is often done by asking what might be seen as very personal questions in other cultures. . Status can be determined by clothing and general appearance, age, job, education, family name, and social connections. Etiquette Customs in Thailand Meeting In business . The ‘wai’ is the traditional form of greeting, given by the person of lower status to the person of higher status. So in the business is normally visitor will be greeding before the host. . Thais generally use first rather than surnames, with the honorific title Khun before the name. This is the very appropriate polite way and very good start to do the business. Relationships Communication †¢ Thai people prefer to do the business with the people whom they respect. †¢ The Thai people also very concern about trust. So it’ll require the foreigner who wants to do the business in Thailand have to follow the way of Thai culture and do not rushing to do the business. †¢ Always be respectful to each other when dealing the business with the others as it can leads to smoothly relationship in doing the business. . Thai communication isShow MoreRelatedCulture Shock And The Effect On International Business2714 Words   |  11 PagesCulture shock and the effect on international business Culture Shock as defined by http://www.merriam-webster.com/dictionary/culture%20shock : A sense of confusion and uncertainty sometimes with feelings of anxiety that may affect people exposed to an alien culture or environment without adequate preparation Kohls (1979) defined culture shock as â€Å"the term used for the pronounced reactions to the psychological disorientation that is experienced in varying degrees when spending an extended periodRead MorePolitical Factors That Affect International Business1020 Words   |  5 Pagesin overseas markets there is often a risk, the risk is referred to as political environment risk, and these factors can facilitate or hinder business operation. Some of the political factors that affect international business include† (Justin Ervin. Zachary Smith A.2008). One significant political environmental factor that influences international business operation is trade agreements. Countries frequently enter into trade treaties to further facilitate trade between themselves. Case in pointRead MoreThe Impact Of Culture On International Marketing Communication1486 Words   |  6 Pagessuccess capability of competition in conducting worldwide business. The objective of this report is to recognize the importance of cultural factors occurring in marketing communications. Therefore, it discusses the following: †¢ Key issues in cross-cultural marketing communication which shows identifying the cultural factors to support marketing communication in the proposed markets and pre-requisites for cross-cultural communication. †¢ Culture-related barriers to marketing and how to approach this issueRead MoreEssay about Ethics in International Business1657 Words   |  7 PagesEthics in International Business Abstract International business ethics challenges the corporate world to deal with questions of what to do in situations where ethical standards come into conflict as a result of the different cultural practices in the nation. Since, there is this dilemma that has progressively troubled the large multinational corporations, international business ethics has arisen to help address these adhesive subject matters. There are several international business ethics discussionsRead MoreA Brief Note On Cross Cultural Communication And Understanding Cultural Differences1625 Words   |  7 Pages Cross-Culture Communication Competence in Global Business Celeste Aisien Lo COMS 2331 Dr. Richard Bello April 29th 2015â€Æ' Competence in cross-cultural communication and understanding cultural differences is becoming more crucial in today’s society. Technology is advancing in a rapid pace and is allowing more opportunities in migration therefore existing countries has never had so much to do with each other until today. As a result of becoming inter-connected, global business is progressingRead MoreGlobal Business Cultural Analysis Of Japan Essay1627 Words   |  7 Pages Global Business Cultural Analysis: Japan James Hendricks Liberty University  Global Business Cultural Analysis: Japan Technological advancement has made globalization an inevitable factor that businesses of the future will need to consider in order to be successful. Increasingly, companies that have been solely domestic are branching out internationally for a wide variety of reasons, but in the end, it’s all about making profits from previously inaccessible market segments. Read MoreImportance of Cross Cultural Communications1209 Words   |  5 PagesEffective cross-cultural communication is one of the most important issues dealt with in business, particularly when a firm operates at an international level. Communication is a process with three key elements, which includes a source, an audience, and a channel. Communication derived from businesses will have listeners that include, but are not limited to customers, employees, suppliers, and the community (Caddy et al.). These listeners contribute to the success of a firm, which is why there isRead MoreThe Issue Of Language Boundaries838 Word s   |  4 Pageswhen everybody enter to new culture. Everybody need struggle to communicate what they want to get necessary information regarding new culture. The findings suggest that the language barrier generates negative emotional. There are so many differences like Body languages, eating food, Cloths wearing, communication. This paper describes the most well known and accepted new cultural with international language. These theories consider relations between new people And new culture. Introduction The pointsRead MoreHow Does Culture Impact on the Planning and Carrying out of International Strategy and Negotiations1733 Words   |  7 PagesHow does culture impact on the planning and carrying out of international strategy and negotiations. The main motive of this essay is to see how culture impact on plan and implementation of international strategy and negotiations in business world. The essay consist of concept of culture in broad sense. Then the paper present a short overview of Hofstede’s culture framework. The type of culture is broadly classified and majorly distributed into two section namely corporate and national. InternationalRead MoreWhat Role Do Hrm Practices Play in a Business Decision to Expand Internationally?1327 Words   |  6 PagesWhat Role Do HRM Practices Play In A Business Decision To Expand Internationally? Ilein Arteaga 2608214 Florida International University HRM CONTRIBUTIONS TO INTERNATIONAL EXPANSION OF BUSINESS Human Resource practices play a great role in the international expansion of businesses. With globalization being the current trend in businesses all over the world, success of international business units depends heavily on the effective performance of the Human Resource department

Does the Rewarding Strategy Can Improve Employee’s free essay sample

My Topic: Does the rewarding strategy can improve employee’s motivation? Introduction Vibrancy of a company derives from the positive and creativity of each employee, kinds of motivation methods are provided in accordance with a variety of demands and motivation. Targeting at a better performance and making employees try their best to accomplish companys objectives; many managers tend to reward their subordinates for the outstanding employees to reinforce the good behavior.However, whether the reward strategy can become an effective way to promote the employees motivation or not has been a common problem concerned by many professionals in human resource area as well as the leaders in some companies. Although, the strategic reward system contributes much to improve employees motivation by satisfying their needs and making them feel be valued, the reward strategy is still not perfect because of some internal and external factors, some overlooks caused by the reward strategy even may play a negative role in the improvement of employees motivation (Gary, 2007). This essay aims to discuss the positive and negative side of the reward strategy, classic theories will be provided to support and explain some opinions. In order to have a deep and clear understanding about the influences of reward strategy, this paper will compare the positive side with the negative side of the strategic reward system together to draw a conclusion for the issuewhether the reward strategy can improve employees motivation or not. Positive sides of the financial reward Reward strategy is a critical part in improving employees motivation.Usually, a reward system consists of financial reward and non-financial reward. Financial rewards refer to the compensation, such as the base salary, pay incentives and employee benefits. Non-financial rewards refer to the intrinsic rewards, praise, recognition, time off and so on (Duncan, 2001). Reward plays an important part in managing people well and motivating the organization. According to Maslows hierarchy of needs, people have five-level needs: physiological needs, safety needs, social needs, esteem needs, and self-actualization needs (Maslow, 1970).Financial reward can meet employees needs in different aspects which can contribute much to promoting the high performance. Employees will make determination to do the job well to acquire the financial reward for the satisfaction in both substance and spirit. A reasonable reward strategy will increase the attractiveness of an organization, it can help company to attract more excellent employees and to make the recruitment process more frequent, more and more excellent talents and genius will be appealed by the advanced reward system.As the Expectancy Theory tells us, if a company wants to motivate their employees, it should let the employees clearly know that the job can provide things they really need which have tight relationships with their performance and high performance can be achieved as long as the hard work (John, 1963). Based on this theory, the financial reward can adjust employees objectives and expectancy to make these two factors be in line with each other which will contribute much to the promotion of good performance as well as a good attitude.Equity Theory shows that employees will try h ard to seek the fairness in financial rewards, after the struggling, if the unfairness in reward still exist, the motivation will be frustrated. Formulated basis by the Equity Theory, reward strategy can reduce the feeling of unfairness in some degree which will guarantee the continual motivation for employees, besides, a fair financial reward system can also benefit much in the improvement of employees loyalty.A strategic reward system is formulated in accordance with the strategy of human resource department as well as the objective of whole organization that will drive the accomplishment of the organizations final mission (Richard ; Gill, 1999). This kind of pay policy can lead the development of other human resource system instead of becoming the burden of companys finance for removing the disadvantages of traditional financial reward system. The advantage of this reward strategy ensures the long-term implementation of reward mechanism because of the combination with organizations strategy.As a part of strategic reward system, financial reward can motivate the employees effectively by satisfying their needs and improving their expectations. Moreover, the financial reward can also help an organization absorb excellent job seekers and promote the employees ability as well as skills. Contributed by the strategic reward system, employees with good performance can be remained and kept, employees loyalty also will increase which will impact positively on the establishment of organization culture. Positive side of non-financial rewardActually, financial reward is just an important aspect of the strategic reward system, non-financ ial reward is also crucial for a successful motivation. Financial reward can affect the employees rapidly but also in a short term. According to the needs theory and expectancy theory, money is not the only motivator, what an employee want to acquire from the job is not just substance, each employee has a need to be respected and to be recognized. For staff, money is essential, however, the higher pursuit for self-actualization is the final goal.Sometimes, merely reward employees with money are not enough, reward strategies consist of both financial reward and spiritual reward, for the long-term motivation, encouragement in spirit is of much necessity (Herzberg, 1968). Praise employees for their outstanding behaviors will make staff feel they are be valued and recognized, the oral praise can give employees confidence to do their job well and will also promote their expectancy as well as self-requirement potentially. The encouragement from leaders sometimes can be the most useful reward for an employee who seeks for the self-actualization.Compared with financial reward, spiritual reward gives employees a feeling that they are believed and valued. The form of non-financial reward is of variety. It can be an oral praise, a public appreciation, a time off, a little gift and so on (John, 2011). It doesnt matter how much it is worth, what points is the power and motivation through which an organization can increase their staffs loyalty and inspire their enthusiasm. A gift or time off for employee may be not cost much, it can play meaningful effect.This kind of reward will help reduce the pressure in the daily working by providing them with some opportunities to relieve the busy life style. It conveys the care and attention from the organization, which will make employees feels, are really an important member and they are loved and cared by family. Warmth caused by these spiritual rewards gives staff more energy. Feeling grateful for the company, employees will be more responsible for their position and hope to work more efficiently to live up with what they have accepted. Loyalty also can be established and strengthened in this process.Non-financial reward can be a crucial motivator in the long term for the belief and confidence it gives to staff. Satisfying the needs of esteem, employees will be conscious of the role they play in an organization and will feel pleasure to improve the present performance. As the Equity Theory, employees will compare their own reward with others, differences between the rewards will cause unbalance, then employees will seek ways to change the present unbalance which can promote them to perform better and more positively (Kennish, 1994).Maybe, an organization just rewards several outstanding employees, it cannot only motivate the staff who receive the honors but also the staff who do not receive the honor but want to get that kind of reward. Aiming to motivate employees in a long term, strategic reward system combines financial reward with non-financial reward together to make the reward system as considerate as possibl e. The satisfaction for different-level needs comforts employees effectively; besides, it helps employees to improve the self-expectancy invisibly. In order to meet the individual needs, employees will try hard to promote their own performance, which eventually help meet the organizations needs. Motivation generated from the needs and expectancy together helps staff improve the performance. Some negative problems during the implementation of the reward strategy No system can be perfect, although contribution by the reward strategy benefits much in improving employees motivation, some negative sides still exist due to the complicated internal and external environment.Some problems can not be avoided, but we can try hard to orchestrate and prevent. Financial reward sometimes can cause pressure for the operation of an organization if not make a proper budget. Before putting the reward strategy into effect, the finance ability and the actual situation of organization should be taken into consideration to avoid the financial tense. Besides, the allocation of financial reward also has much to concern, there are some issues an organiza tion should pay attention to, such as how to realize the maximum fairness and meet each employees need at the same time (Frase, 2001). There is just relative fairness, moreover, fairness is a subjective feeling, you cannot judge it by specific indicators, it is hard to formulate and to measure. However, the inequitable feeling usually can frustrate an employees motivation if it can not be well handled with in time. Many companies have encountered this annoyance, much money has been allocated but there is no progress in the performance and motivation. Before rewarding employees needs by the moneyed encouragement, the necessary information must be collected and analyzed.What the employees really want and why should be learned about for an effective and right reward. We can classify a companys employees into three kinds-staff at grass-roots, staff at middle level, staff at high-level. Different financial reward policies should target at different groups (Parker, 2001). As for the staff at grass-root , the financial reward can be very effective for this group consist of young people who do not have much economic resource, money is the most important and crucial element to meet their needs.As regards to the middle level, moneyed reward and spiritual reward are both very effective; money and recognition are both crucial. As for the high level staff, the needs of esteem and self-actualization may be more important to show their ability as well as the life value. So if the same financial reward is allocated for different staff can have different effect in improving motivation.In fact, mistakes and low-effective financial rewards are common for many companies for not knowing what needs of their employees (McGarvey, 1997) Non-financial reward is another crucial part for a strategic reward system. However, in the implementation process, many problems emerge due to the overlooking for how to allocate the rewards effectively. If the spiritual reward is in a high frequency, the value and meaning of this kind of reward will be reduced which will make employees feel unhonored and unwanted when they received the reward. That is why so many companies devote much to non-financial reward but few employees have been motivated, commonly seen rewards can not make them excited. Moreover, the reward strategy sometimes can cause the high expectancy of staff, employees may think these rewards are what they should get if accomplish the working task, they maybe regard these rewards as a form of revenue or some necessary welfare which will make them enjoyable but can not improve their motivations (Christopher, 2011).Besides, many companies have a certain misunderstandings for the contents of the non-financial reward, overlooking for the enterprise culture may make the spiritual rewards unworthy, enterprise culture should be a part of the non-financial rewards for a proper and good enterprise culture can comfort and unit the staff as well as make their employees more loyal and full of motivation. Conclusion To conclude, the reward strategy can really improve the employees motivation by meeting employees needs in both substance and spirit.According to the needs theory and expectancy theory, strategic reward system can satisfy staffs needs and then help improve their self-expectancy. However, there are still some negative sides of the reward strategy during the implementation process. This paper introduces some situations, which may make the reward unworthy and not be valued, these situations can be avoided by paying attention to the crucial parts and mastering the employees psychical activity. The reward strategy should be adjusted according to the ongoing situation of organization, combining the financial rewards and non-financial rewards together is the most proper method for an organization to improve their employees motivation. In comparison, the advantages of the reward strategy can win over its disadvantages in a large degree, paying attention to the possible issues existing during the implementation period can be a very effective method to optimize strategic reward system.

The Holocaust! Essays (1593 words) - Nazi Germany, The Holocaust

The Holocaust! What is the first thing that comes to mind when the phrase World War II is mentioned? The typical response to this question will almost always be Hitler and his cruelty toward Jews. What is strange about this answer, is the fact that the majority of people do not realize what actually occurred in Europe during this time. To most people, the Holocaust was an ?event? where Nazis killed many Jews. In fact, the Holocaust was a tragic point in history, which many believe never occurred, or do not realize the suffering behind the widespread destruction. The pain and conditions experienced by the victims is unimaginable by any standards. In the early 1930's, the United States was very confused Eastern Europe was on the verge of power, and in a small western European country called Germany, trouble was just beginning. In 1933, Europeans had no worries beyond their daily struggle to earn money, put food on their family's table, and clothes on their children's backs. This would all change in a matter of months. Whatever type of life people had built or molded for them, it was all to come to a crashing halt if they did not conform to Hitler's specifications. On January 30, 1933 Adolf Hitler was appointed chancellor of Germany. In March 1933, with the building of the Dachau concentration camp, ?Adolf Hitler's rising became one of the swiftest, most destructive leaderships in recorded human existence? (Bauer 12). After his inception as ruler of Germany, Adolf Hitler had one thing on his mind, a pure Aryan race with complete world domination. Jews were inferior to humiliation through the Anti-Jewish Laws. The seven most established laws in Germany were: Jews were forced from jobs in civil service and history, Jews were barred from most other professions, Jews were excluded from schools and universities, Jews were forced to carry cards identifying themselves as Jews, Jews were forced to have a J stamped on their passports, Jews were excluded from dining and sleeping cars on G erman trains, and Jews were barred from public areas such as parks, sporting arenas, and baths. Hitler's goal was to eliminate all of the ?undesirables? in Europe. Some were Jews, mentally and physically ill, nonsupport's of Nazism, gypsies, homosexuals, and anyone else who did not fit the mandatory code. He wanted to create a ?superior race? called the Aryan Nation. To accomplish his mission he had concentration camps constructed. The most significant sign of the troubles looming ahead was the ?Kristallnacht-night of the broken glass.? ?On November 9, 1938, Nazis attacked Jewish communities; looting, destroying, and burning over 1000 synagogues. Over 700 businesses were wrecked, as were hospitals, schools, cemeteries, and homes? (Bauer 24). From Poland, Czechoslovakia, eastern European provinces, and of course Germany, a great migration was to begin. Nazis transported victims to concentration camps by means of railroad, which was the cheapest and easiest method. The trip was horrib le. People were packed in as tightly as possible. In the summer, the cars became sweaty, putrid smelling, and unbearably hot. Many died of heat stroke. On the other hand, winter was even worse. When the temperatures plummeted, these cars were sent place to place without heat. Death from hypothermia and starvation was common. Camps were set up for various purposes. These included labor, medical experiments, and death. Transition camps were set up as holding places for death camps. At the beginning of camp, prisoners usually had marks on their clothes or numbers on their arms to identify them. Things like jewelry, clothes, shoes, gold fillings, eyeglasses, shawls, baby bottles, and anything with value was taken and sold. They were then put into the inhumane conditions of the camps. Many times families would be split up. Women and men were separated, and grouped according to age. There was only one bathroom for hundreds of people. At some camps these were long wooden boards with round holes and underneath them concrete troughs. While on the bathroom, they would be watched by the soldiers to make sure they would not stay on too long. ?There was no toilet paper, so the prisoners used the linings of jackets. If they did not have one they often stole one