The global warming threats have pushed companies to become smarter on how they produce products with social responsibility in mind. Consumers of products are being more conscientious of the product they purchase and the services they use. From cars to disposable wrappings, consumers too are becoming aware of their surroundings. Go Green is the slogan on every one's tongue.
There are many different ways to go about being socially responsible. Strategies include reactive, defensive, accommodate and proactive. Out off all of these it is easy to say that being proactive is the key to success. Being the leader in the push for social responsibility and not being put in a negative light during your cooperation's history is huge. It's the idea that you didn't need to be told to clean up your act; you knew to do so on your own.
There are many things that the company can benefit when being socially responsible. The value of their organization increases and individuals who work and consume from the company have a better pride tied with it. By being socially responsible, you can in a way create rarity and more value when compared with competitors. Social responsibility, contributing to charities and having your companies name have a positive congnantation is crucial in a competitive industry.
Although recent circumstances has really triggered a need for social responsibility, it is important to note that a change in the cooperation world has come. It is a positive change that certainly benefits the public in numerous ways. It is crucial to focus on the proactive strategy and continue its quest for success in the positive social aspect.
Wednesday, December 8, 2010
Friday, December 3, 2010
Ch 13: Managing Human Resources Globally
This chapter was very helpful with the fact that i am currently enrolled in Human Resource Management. It would seem to be that working with other people would be simple enough, but not a lot of people can handle conflict well and manage individuals with respect and accountability. With proper management and ability to work well with others it is crucial in the business world. Human Resources also focus on the hiring process.
When working internationally you have to be aware on how to properly train and develop your employees. Each employee has different needs especially when they are from different cultures. Another idea that has to be considered in the Human Resource Department is Expatriates and Repatriates. When moving a company globally, you need to send the proper resourceful individuals to implement your company correctly. You need to prepare them well for this journey because it can certainly be a culture shock and need to be dealt with in the right manner.
When working internationally you have to be aware on how to properly train and develop your employees. Each employee has different needs especially when they are from different cultures. Another idea that has to be considered in the Human Resource Department is Expatriates and Repatriates. When moving a company globally, you need to send the proper resourceful individuals to implement your company correctly. You need to prepare them well for this journey because it can certainly be a culture shock and need to be dealt with in the right manner.
Wednesday, November 24, 2010
Blog 8
Out of chapter 11 and 12, I found three very interesting sections: Performance of Alliances, Motives for Acquisitions, Performance of Acquisitions. These three really seemed of great value for the future managers of the world. The idea of Acquisition can sometimes been seen as the big fish eating the little fish.
Focusing first of the performance of alliances, there are four factors that influence alliance performance. These four are: equity, learning and experience, nationality and relational capabilities. To be honest, I was surprised but thrilled to see learning and experience on the top four. Sometimes people get so enveloped with money and power that they forget the true ideal of life: knowledge. Getting the experience and learning from the success of others can make you stronger than any amount of money. Many times it is knowledge that brings people to these high positions and in turn make the money they've always dreamed of. Really think about it, you don't see to many young CEO's. As you grow older, you grow wiser-well I hope that's the case. Otherwise we maybe in big trouble.
There are many motives for acquisitions. The top three is synergistic, hubris tic and managerial motives. All pretty big words, but all common sense ideas. A favorite of this section would certainly be managerial motives. This very theme leads to many ways the economy has been terrible. When managers start putting their desire for power, prestige and money- it hurts the economy. Big Time. There needs to be a drastic change and the focus needs to be on the company and it's stock holders, not what a Christmas Bonus should be. If managers start thinking the way they need to they can hopefully get the economy back on track.
Finally, why do 70% of acquisitions fail? Performance has a lot to do with it. Again, we can turn back to managerial motives and hubris. Pride can be good, but there is a difference between pride and overconfidence which can lead to many bad things. Another way acquisitions fail is simply because firms do not analyze organisational fit with targets. It all boils down to what your target market wants. The incredible statistic that 80% of firms don't do their research certainly leads to 70% of acquisitions failing.
Focusing first of the performance of alliances, there are four factors that influence alliance performance. These four are: equity, learning and experience, nationality and relational capabilities. To be honest, I was surprised but thrilled to see learning and experience on the top four. Sometimes people get so enveloped with money and power that they forget the true ideal of life: knowledge. Getting the experience and learning from the success of others can make you stronger than any amount of money. Many times it is knowledge that brings people to these high positions and in turn make the money they've always dreamed of. Really think about it, you don't see to many young CEO's. As you grow older, you grow wiser-well I hope that's the case. Otherwise we maybe in big trouble.
There are many motives for acquisitions. The top three is synergistic, hubris tic and managerial motives. All pretty big words, but all common sense ideas. A favorite of this section would certainly be managerial motives. This very theme leads to many ways the economy has been terrible. When managers start putting their desire for power, prestige and money- it hurts the economy. Big Time. There needs to be a drastic change and the focus needs to be on the company and it's stock holders, not what a Christmas Bonus should be. If managers start thinking the way they need to they can hopefully get the economy back on track.
Finally, why do 70% of acquisitions fail? Performance has a lot to do with it. Again, we can turn back to managerial motives and hubris. Pride can be good, but there is a difference between pride and overconfidence which can lead to many bad things. Another way acquisitions fail is simply because firms do not analyze organisational fit with targets. It all boils down to what your target market wants. The incredible statistic that 80% of firms don't do their research certainly leads to 70% of acquisitions failing.
Chapter 10 Entering Foreign Markets
So we talked about globalization, but let's really consider it. What makes the world flat? Simply, entrepreneurs and business owners who have the guts to enter foreign markets.This is how we are able to purchase items from other countries, this is why name brands are fame brands all over the world. This is the very reason to why the world is getting flatter and flatter everyday.
Now this isn't some everyday occurrence, entering a foreign market. There is a lot of liability that can go with this; it can be a huge risk. First, you have the liability of foreignness. A firm can experience a huge disadvantage being in a foreign country. Language barriers, business culture, everyday culture, the sheer fact that you are away from your home. Not only are you away from your home, you are away from your comfort level. When you are put into an uncomfortable position, you are more weary on the decisions you make for your company. You must stay firm to be a strong firm. Another huge disadvantage is discrimination against foreign products. The United States does it often with many people saying "Buy American". You are considered unpatriotic if you buy anything but a Ford for a car. I found an entertaining video on youtube that is a perfect example of this: http://www.youtube.com/watch?v=Vq8wbXAR4ZQ.
Many questions arise when looking to enter a market. One of the most important: Location, Location, Location! The saying never gets old because it stays so true. Other things to be considered is what are the strategic goals of the firm and what are the cultural and institutions distances. Many questions need to be answered before taking this risky but possibly very rewarding venture.
If you really take a chance and look at all the products we have available in the market, it's incredible to see so many products there are from other countries. It's just as astounding to realize how popular US brands are in foreign markets. The ability to enter foreign market has helped the consumer industry in many ways.
Now this isn't some everyday occurrence, entering a foreign market. There is a lot of liability that can go with this; it can be a huge risk. First, you have the liability of foreignness. A firm can experience a huge disadvantage being in a foreign country. Language barriers, business culture, everyday culture, the sheer fact that you are away from your home. Not only are you away from your home, you are away from your comfort level. When you are put into an uncomfortable position, you are more weary on the decisions you make for your company. You must stay firm to be a strong firm. Another huge disadvantage is discrimination against foreign products. The United States does it often with many people saying "Buy American". You are considered unpatriotic if you buy anything but a Ford for a car. I found an entertaining video on youtube that is a perfect example of this: http://www.youtube.com/watch?v=Vq8wbXAR4ZQ.
Many questions arise when looking to enter a market. One of the most important: Location, Location, Location! The saying never gets old because it stays so true. Other things to be considered is what are the strategic goals of the firm and what are the cultural and institutions distances. Many questions need to be answered before taking this risky but possibly very rewarding venture.
If you really take a chance and look at all the products we have available in the market, it's incredible to see so many products there are from other countries. It's just as astounding to realize how popular US brands are in foreign markets. The ability to enter foreign market has helped the consumer industry in many ways.
Sunday, November 7, 2010
Chapter 9
This chapter focuses on entrepreneurial aspect of business. The statistics are something like 80% of businesses are privately owned companies. A 100% of these businesses had to have someone take a chance and therefor had an entrepreneur start the company.
There is no doubt being an entrepreneur involves risk, but there are ways to go about this risky but much rewarding chance. This chapter goes into the growth entrepreneurship has encountered in the recent years. The chapter also expresses innovation that must take place when entering a competitive challenge like this. It can be expensive but there are ways to reserve your finances and your liability. You need to spend money to make money. The text also briefs you on transaction cost and the opportunities that are available.
I thought the United states would be higher on the percentage of GDP for Venture Capital. If you really consider the businesses in your hometown and many alike, they are mostly privately owned. Look at all the local hair salons, mechanics and those who buy into the franchise industry. There is no doubt this will rise in the future years.
There is no doubt being an entrepreneur involves risk, but there are ways to go about this risky but much rewarding chance. This chapter goes into the growth entrepreneurship has encountered in the recent years. The chapter also expresses innovation that must take place when entering a competitive challenge like this. It can be expensive but there are ways to reserve your finances and your liability. You need to spend money to make money. The text also briefs you on transaction cost and the opportunities that are available.
I thought the United states would be higher on the percentage of GDP for Venture Capital. If you really consider the businesses in your hometown and many alike, they are mostly privately owned. Look at all the local hair salons, mechanics and those who buy into the franchise industry. There is no doubt this will rise in the future years.
Ch 8
It was a nice review and helpful to put into text what benefits global economics have for the world. Unless you are a business person, you see going global as a threat.Their is truth to the threats but not to the extend the media drills into the heads of its viewers.When these viewers only hear and see the bad, they don't want to hear anything positive that going global has on the economy.
You never truly realize the positive effects the global economy has on its political efforts. There are many benefits that have come with global economy. It has created stronger allies, creates more readily available resources, helps us become more cultured and creates the world to become closley interlinked.
It is important to understand the pros and cons of regional economic integration. It helps us use contextual talents and see how we've succeeded and how we've failed globally. We need to use our sauces and create similar ideas to help expand the economy globally. We also need to know our failures and how we can develop our failure to a success.
You never truly realize the positive effects the global economy has on its political efforts. There are many benefits that have come with global economy. It has created stronger allies, creates more readily available resources, helps us become more cultured and creates the world to become closley interlinked.
It is important to understand the pros and cons of regional economic integration. It helps us use contextual talents and see how we've succeeded and how we've failed globally. We need to use our sauces and create similar ideas to help expand the economy globally. We also need to know our failures and how we can develop our failure to a success.
Saturday, October 23, 2010
Chapter 7 Blog
Chapter 7 is all about the money. From interest rates to exchange rates. Now we all love money (when we have it) but this type of talk can certainly bore a reader. However, you need to focus. If you don't get this down then you don't get a job in the global economy.
Business speaks money, could you imagine going to a meeting and having no idea what the inflation rate is? You could grab a deal that could potentially kill your company. Even if you are not a business major, you should be aware of the inflation and money exchange. No body wants to be that tourist who is short money for a burger or gives an $80 tip because you can't to quick math.
It is things like this that Americans need to become more aware of their global friends. There is a youtube video called shifthappens, education 3.0. It explains how China is now the number one speaking English country. That is insane!!!!
But back to chapter seven, and I would like to discuss the types of systems. There's the Gold Standard, The Breton Woods System, The Post-Bretton Woods System. The Gold Standard is what I was most familiar with. In some ways I feel many still refer to it even though it ended in 1914. Now it seems like the Post-Bretton Woods system is much more complex. But what it comes down to, it is a flexible exchange.
The most crucial part of this chapter and perhaps this entire book is the Strategies for Financial Companies. That is very important to read up on and look into as potential CFO's of the world. That sections though limited to a couple of pages are certainly highlighted page.
Business speaks money, could you imagine going to a meeting and having no idea what the inflation rate is? You could grab a deal that could potentially kill your company. Even if you are not a business major, you should be aware of the inflation and money exchange. No body wants to be that tourist who is short money for a burger or gives an $80 tip because you can't to quick math.
It is things like this that Americans need to become more aware of their global friends. There is a youtube video called shifthappens, education 3.0. It explains how China is now the number one speaking English country. That is insane!!!!
But back to chapter seven, and I would like to discuss the types of systems. There's the Gold Standard, The Breton Woods System, The Post-Bretton Woods System. The Gold Standard is what I was most familiar with. In some ways I feel many still refer to it even though it ended in 1914. Now it seems like the Post-Bretton Woods system is much more complex. But what it comes down to, it is a flexible exchange.
The most crucial part of this chapter and perhaps this entire book is the Strategies for Financial Companies. That is very important to read up on and look into as potential CFO's of the world. That sections though limited to a couple of pages are certainly highlighted page.
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