Entrepreneurship and Global Business Management

Question: Discuss about the Entrepreneurship and Global Business Management. Answer: Introduction Globalization is one of the most common terms in modern aspects of business. It provides the opportunities for all the companies irrespective of the nature of the business to organize its business operations beyond the national boundary (Barros, Gal and Kindler, 2012). The trend of doing business is entirely changed as compared with the traditional way of organizing business operations. The concept of globalization contributed as one of the vast aspects towards organizing a proper business proceeding. The report will focus on the purpose and overview of globalization and internationalization in business. It is the increasing interdependence, integration and interaction among the people and corporation in various locations around the world (Hatten, 2012). It is important to maintain globalization and internationalization at a same pace. Globalization and Internationalization The overall process of assimilation of a countrys polices, which are accepted universally across the world is known as globalization. However the concept of globalization allows different business firms to organize its business operations across the key cities of the globe. On the other the notion of internationalization is a design process which ensures a product or service of a company, adapted to its demographic condition and standards (Herting, 2012). Globalization is the process which results of shrinking of the world that mainly concludes in the stream of good ideas, moving back importance of limitations of time and space and losing ground the importance of nation state. Alternatively, the process of integrating an international, intercultural and global measurement in the purpose functions of the business (Lechner and Boli, 2012). However, it is an ongoing systematic process which links one city of the globe to another. There are lots of benefits of internalization as it save significant expense, time and headaches for everyone involved. The concept of globalization and the concept of internationalization are linked with each other. There are four important from of internationalization which mainly concludes about import, export, licensing and franchising (Lind, 2012). With the help of proper internationalization in the country some of the key benefits, which majorities of the companies faces includes faster growth, access to cheaper units and effect on performance of enterprise. Business Environment In the era of globalization it is one of the primary jobs for the managers to scan the business environment. It is one of the most important parts of the business to analyze the demands of the customers and decisions on the basis of the market demand. However, with the view fulfilling these particular objectives it is one of the most important parts of the managers to focus in the procedure of developing a proper situation analysis process, which will scan both the inner environment as well as the outer environment of the market (Mariotti and Glackin, 2012). The factors which comprise the internal business environment of the business are often known as the control factors. On the hand, the factors which comprise the external environment of the business are often not controllable factors. In the era of globalization business environment consists of two sub environment, which mainly includes micro environment and macro environment. There is a mutual agreement exits between these two environments. With the help of the two important marketing tools the overall analysis of the business environment is done. With the view of analyzing the internal environment, the use of the SWOT Analysis is one of the most successful marketing tools (Bertelsen, 2012). On the other hand, the use of PESTEL Analysis is mainly used towards scanning the external environment of the commerce. The most important environmental change that took place in the last few years is the idea of globalization of business and commerce. The world has become a global community and business has become a global character. The purchasing options of the buyers are more diversified. It is one of the most significant parts for the managers to scan the overall business environment with the view of analyzing all the fa ctors, which affects the purchasing decisions of the customers (Pride, Hughes and Kapoor, 2012). Business environment, changing nature of work, demographic, societal and workforce trends and changing nature of the employment association are some of the important classifications of the business environment in the era of globalization. Implication for the managers The role of the managers in the business process contributes as one of the most aspects of the organizational procedures. The decision making process of the managers towards the achievement of the common organizational goals is one of the most significant aspects in the managerial process. However, some of the most important implication processes of the managers are as follows: Technological Advancement Technology provided as one of the major breakthroughs in modern generations. It has changed the whole concept of organizing business. There are different kinds of significant aspects of technological advancement (Robbins and Coulter, 2012). It allows different organizations irrespective of the nature of the business gets certain competitive advantages. If the gesture of globalization has been the heavy force behind the most far reaching and controlling changes in business, then information technology has one of the major facilitator. Online marketing and shopping, online payment, advertisement platform, proper communication strategies and channels are some of the important factors, which provide certain competitive advantage for the organization in the operations (Scarborough, 2012). The managers need to perform a continuous activity for the better of the technological advancement. Sustainability and Corporate Social Responsibility Developing a proper business sustainability plan is one of the most challenging jobs for the managers in the operations. If business sustainability in the organization is marinated in a proper manner it will automatically boost the notion of the corporate social responsibility. There are different factors which hampers the sustainability as well as the profitability of the business firm (Barros, Gal and Kindler, 2012). In order to develop a proper sustainability plan in the business operations, different managers applied the role of a proper situation analysis in the business operations. Nevertheless, the notion of the corporate social responsibility provides an additional competitive benefit for the organization (Bertelsen, 2012). Business Ecosystems Business ecosystem in the organization is the mixtures of different kinds of innovative activities in the organization. The concept of business ecosystem is one of the most important implications for the managers, because innovations in the business ecosystem have a character distinct from traditional, vertically integrated firms (Hatten, 2012). Everyone in the business network has to be conscious about the bigger picture of the organization. Innovation in the business ecosystem maintains some of the important characteristics, which includes; both invent and evaluate efficient, cross-organization information flow of a proper business environment (Lechner and Boli, 2012). Conclusion Majorities of the business firms all over the world operate with a hyper turbulent change intensive surroundings. From the above analysis, some of the most important process of the global business environment includes outsourcing, downsizing and reengineering, towards ensuring the process of continuous success of the firm. The present report analyzed all the crucial factors of the modern aspects of the business. The main highlighted point in the overall study is the effect of globalization in the business environment (internal environment and external environment). The role of the managers contributes an important part on the modern aspects of business. The implication and the role of mangers are reflected in the study in the process of the decision making system of the organization. The readers of this particular report will be able to concentrate all the crucial factors, which are related in modern business. Reference List Barros, A., Gal, A. and Kindler, E. (2012).Business process management. 1st ed. Berlin: Springer. Bertelsen, B. (2012).Everything you need to know about SWOT analysis. 1st ed. [Newmarket, Ont.]: BrainMass Inc. Hatten, T. (2012).Small business management. 1st ed. Mason, OH: South-Western Cengage Learning. Herting, S. (2012).Globalization. 1st ed. Hamburg: Diplomica Verlag. Lechner, F. and Boli, J. (2012).The globalization reader. 1st ed. Chichester, West Sussex: J. Wiley Sons. Lind, P. (2012).Small business management in cross-cultural environments. 1st ed. New York: Routledge. Mariotti, S. and Glackin, C. (2012).Entrepreneurship small business management. 1st ed. Upper Saddle River, N.J.: Pearson Prentice Hall. 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