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Global Enterprise Management vs Domestic Enterprise Management
Global Enterprise Management vs Domestic Enterprise Management
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Global Enterprise Management vs Domestic Enterprise Management
Today’s business culture is not just global; it is increasingly globally homogenous. Connectivity has shrunk or eliminated the barriers of doing business across borders, yet this new global market has unique characteristics, issues and risks that domestic firms do not face. Yet, in order to remain competitive, even the smallest of Internet retailers needs to have a global platform to effectively compete and expand their profits.
Firms specialize in manufacturing, marketing, and distributing products that are inherently their competitive advantage, generated from their core competencies. To do this, corporations need to build an infrastructure in human resources, technology that is ideally suited to producing their goods with the highest quality at the lowest cost for marketing, and distribution in the global marketplace.
Building the Global strategy at the highest level
As a firm determines the highest quality at the lowest cost, that can mean moving or opening a manufacturing operation, or production facility in another nation where they can manage the quality of goods produced while taking advantage of lower costs of production, such as labor and materials. By streamlining production and creating products that are as standardized as possible for a firm’s various markets, companies are able to leverage the economies of scale for large production facilities. The resulting cost advantages create strong competitive advantages, market domination, and maximize profits for shareholders.
By serving a global market at lower costs, global firms place domestic firms are at a distinct disadvantage. Global firms have higher volume sales from multiple markets, and competitive advantages in multiple areas such as access to lower labor and material costs, access to technological expertise, and greater opportunities for marketing.
Through the use of research, as well as competitive intelligence, global enterprise management, when properly assessed, can be successful in maximizing their core competencies to promote profitability.
The Global Enterprise – Operational Issues
We have discussed the various areas of operational functions that impact a firm’s ability to conduct business globally, as well the methods for building strategies that address the dynamic nature of the global business environment. However, managing the global enterprise requires global managers to understand the differences between each functional area in the international environment.
Global Enterprise Management of Operational Issues
One way to understand the issues of management of a global enterprise is to differentiate between the risks of an international firm and the risks of domestic firms. The following table indicates the differences between global and domestic corporations considering the risks of establishing a manufacturing facility overseas.
Domestic Risk Considerations Additional International Considerations Labor cost, availability, and skills Cultural differences in the labor force Material cost, availability and quantity Management that is not from the home nation Utility cost and availability Foreign legal systems Transportation infrastructure Foreign accounting systems Telecommunications infrastructure Foreign tax systems Shipping costs of raw materials Foreign financial reporting requirements Shipping costs of finished goods Currency exchange risk Taxes – income and property Transfer price and tax consequences Construction permits Import/export restrictions and tariffs Environmental regulations Political stability Location – Degree of livability Remittance restrictions (the repatriation of profits back into the home country) Community response to the facility State and local government incentives Structuring management team oversight
Structuring global enterprise management teams that work seamlessly to execute strategies across borders and cultures to effectively leverage or mitigate the considerations in the above table, is a key to global success. As firms increase in both size and geographic footprint, the risks increase and both business and production operations become increasingly complex.
All functional areas are impacted by the increasing complexity, which in turn increases the risk exposure for the firm.
Strong leadership creates the cohesive management team capable of impassioning staff and teams and keeping a corporation focused on the end goals. In the global arena, that requires maintaining absolutely current information in all markets, but the process of management team unity, begins with talented senior management. Each firm is different, and the lessons are best attained through the case studies of firms that have overcome the obstacles by recognizing the changes in the economy, the markets they serve, the competition, and addressing them with innovative strategies that reinvent the company, a brand, or respond to the changes in its business.
Take some time to review this video on Avon, a global cosmetic firm that has increased its sales and profits through the global recession through strong, clear leadership
Global Enterprise Management vs Domestic Enterprise Management
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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