Explain how globalization affect the four functions of management. Include specific examples.
What are the four functions of management?
Planning,Organizing, Leading, & Controlling.
Thank you!!
In our age of globalization, managers must plan on whether they want to globalize. They then must organize the marketing and distribution of the product overseas. They may also use overseas labor. They must lead their teams to fulfill these plans, including translators as necessary. Their control will necessitate frequent Skype and email contacts as well as personal visits.
Thank you for this information. Could you possibly give me a few websites to look at that can provide me with more information on this? Perhaps a site or two for each function.
Thank you!!
Explain how globalization affect the four functions of management (Planning,Organizing, Leading, & Controlling). Include specific examples. Could you possibly give me a few websites to look at that can provide me with more information on this? Perhaps a site or two for each function.
Thank you!!
Globalization, which refers to the increasing interconnectedness and interdependence of countries, economies, and cultures, has a profound impact on the four functions of management: planning, organizing, leading, and controlling. Let's explore each function and how globalization influences them:
1. Planning: Globalization significantly affects the planning function of management by introducing new opportunities, challenges, and uncertainties. Managers need to consider the global market trends, cultural differences, and diverse customer preferences when creating their strategic plans. For example, a multinational company like Apple needs to tailor its products and marketing strategies according to the cultural nuances and local preferences of each country it operates in.
2. Organizing: Globalization impacts the organizing function of management by necessitating the coordination and integration of resources, people, and processes across different locations and cultures. Companies often establish decentralized or matrix organizational structures to effectively manage their global operations. For instance, a company like Nike manages its supply chain globally, coordinating manufacturing, distribution, and marketing functions across multiple countries.
3. Leading: Globalization affects the leading function of management by demanding leaders to exhibit cross-cultural competency, effective communication, and adaptability to diverse work environments. Leaders should be able to motivate and engage employees from different backgrounds. For example, a leader managing a global team in a multinational corporation needs to understand various cultural values, work norms, and communication styles to foster collaboration and effective leadership.
4. Controlling: Globalization has a significant impact on the controlling function of management by requiring monitoring, evaluation, and control mechanisms across diverse markets and regions. Managers need to establish performance metrics and utilize technologies to accurately measure and analyze the progress of global operations. For instance, a global hotel chain like Marriott monitors customer satisfaction and financial performance across various locations to ensure consistent service quality and profitability.
In summary, globalization influences the four functions of management by introducing complexities related to planning, organizing, leading, and controlling in a global context. Managers must consider global market dynamics, cultural differences, and diverse business environments to effectively navigate these challenges and seize the opportunities presented by globalization.