Through globalization, strategic managers are now able to ...Cultural Impact of Globalization The phenomenon of globalization began in the ancient days with colonization as countries sought to conquer the less developed countries.Due to growth of both local and international markets, analysts sought to address and bring about strategic management and globalization of firms in view of attaining maximum customer satisfaction.
Through globalization, strategic managers are now able to ...Cultural Impact of Globalization The phenomenon of globalization began in the ancient days with colonization as countries sought to conquer the less developed countries.Due to growth of both local and international markets, analysts sought to address and bring about strategic management and globalization of firms in view of attaining maximum customer satisfaction.Tags: Thai Restaurant Business PlanOnline DissertationsLanguage And Cultural Identity EssayEssay About Mother'S DayAlternator Lancia ThesisEssays On ObasanCompare Contrast Essay On George Bush John KerryProhibition Era Essay
However, as globalization of businesses stretches to different corners of the world, many companies with great strategic management are living witnesses of the many benefits globalization can bring.
Due to strategic management, globalized countries have been able to encounter and integrate business in a different culture with different local problems as well values that erupt in a different part of the world (Ramamurti & Hashai, 2011).
The strategic management process helps company leaders assess their company's present situation, chalk out strategies, deploy them and analyze the effectiveness of the implemented strategies.
The strategic management process involves analyzing cross-functional business decisions prior to implementing them.
A strong business culture will make it easier for leaders to motivate their staff to execute their tasks in alignment with the outlined strategies.
Therefore, it is important to create strategies that are suitable to the organization's culture.The need to have a great mode of information technology across the globe is the driving force behind dissemination of technology that has brought the current global transition (Hitt, 2010).The world owes theses concerted efforts to managers who came with this great idea of diversifying business through information and technology.A SWOT analysis is a crucial element of strategic management by helping companies identify their strengths, weaknesses, opportunities and threats.The SWOT analysis helps detect and analyze internal and external environments and other factors that may impact the business, and helps organizations prepare for the future.It also aids decision-makers by analyzing key aspects of their organizational environment to help formulate competitive strategies.The process is helpful when determining whether the firm's resources and abilities will be effective in the competitive environment within which it has to function, and when developing their goals and strategies to remain successful in this environment.Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives.Fast-paced innovation, emerging technologies and customer expectations force organizations to think and make decisions strategically to remain successful.With the help of strategic management, developed countries are uniting with the less developed nations across the globe to integrate or fuse technology towards modernization and advancements.Since technology requires strategized plans, globalization is making it possible for strategy managers to introduce technology in different and, subsequently, remote corners of the globe and making sure people use it accordingly.