The most critical issue in the contemporary world is how to manage organizations effectively in the wake of the rapid global changes. In global enterprises, technology is changing at a remarkably fast rate and this trend calls for the management to redesign its organization to remain relevant. Competition is increasing in global enterprises as organizations aim at gaining competitive advantage over others. Different enterprises should change their manner of management in order to respond quickly to global changes. The organization needs to change its processes, structures, systems, and personnel from the inflexible modes to ones that can adapt quickly to global changes. The transformation of the organization is a crucial step to effective management and remaining on the lead in the global world. Effective management in a global enterprise involves the use of new management philosophies. The management philosophies start with the top management in the organization. The managers should apply Continue reading
Business Articles
Entrepreneurship Motivation among Students in India
The Indian economy was previously highly depended on agriculture; however, the current development in the industrial and service sectors requires entrepreneurship to also parallely progress, so, entrepreneurship in India requires ample motivation. Many aspects play a role in developing entrepreneurship: Educational institutions help develop requisite qualities like leadership and team spirit, help in the development of business plans, and the gaining of financial support, besides setting up TBIs and EDCs. Established businesses can help with internship, apprenticeship, and collaborations. Small scale industrial associations can also act as facilitators in prototype labs, and expositions. It is the view of a number of first generation entrepreneurs that entering into entrepreneurship demands a lot of drive and passion. Not only is the entrepreneur expected to be inspired by the idea behind the business, but business man must also have ample leadership potential in order to be able to take the responsibility in case Continue reading
Cultural Sensitivity is Crucial Factor in Company’s International Business Success
Due to progress in communication, transformation and technologies which have performed in development of world’s economy, people from different nations, cultures, languages and backgrounds are now communicating, meeting and doing business with each other more than ever. As there is increase in business activities between people from different nations, cultures, languages and backgrounds, companies who are operating internationally or which are going to be a global they have to concentrate on many factors to be a successful in international market. One of the significant factors among them is a culture. For the success of any business in variety of countries or regions it requires to have understanding of how cultural differences across and within nations can affect the way business is practiced. The main determinants of culture are religion, political philosophy, economical philosophy, education, language, social structure etc. Businesses have to understand and match with all this cultural determinants, as Continue reading
Problems and Challenges Faced by Entrepreneurs
Today, with the internet boom, entrepreneurs have become one of the most dynamic forces in the economy. Entrepreneurs are now driving the technology boom, which is itself driving much of the world’s economic growth. This makes entrepreneurs very important from a macro-economic perspective. They have become a broader economic phenomenon that has a major impact on the economy. As the globalism of business becomes even more widespread, this impact will be felt even more deeply. Entrepreneurs are already becoming a major force in developing nations and in the economy worldwide. The scope of what entrepreneurship involves will continue to change and evolve as the world continues to change and evolve, and yet there are some common issues of how to start a business, how to finance the business, how to run the business that within this community we can share and learn from each other. While we still have many Continue reading
Should You Get an MBA? Here’s How to Decide
The decision as to whether or not you should get an MBA is not as straightforward as it might seem. It may not be a simple yes or no answer. Instead, the answer might be “yes, but not yet” or “no, but you should get a master’s in another business-related subject.” On the other hand, depending on your circumstances, the answer might also be an unqualified yes. For some, an MBA can be one of their most important career moves while for others, it can be a waste of time and money. How can you decide which it will be for you? The points below can help. What Experience Do You Have? First, do you have a bachelor’s degree? If not, you need to get one. Are you fresh out of college with an undergraduate degree in business? Then you should not go straight into an MBA program. This doesn’t Continue reading
Gender Bias in International Business
The gender bias toward women managers that exists in many countries creates hesitancy among U.S. multinational companies to offer women international assignments. Questions such as, Are there opportunities for women in international business? And should women represent U.S. firms abroad? Frequently arise as U.S. companies become more international. As women move up in domestic management ranks and seek career related international assignments, companies need to examine their positions on women managers in international business. In many cultures-Asian, Arab, Latin American, and even some European women are not typically found in upper levels of management. Traditional roles in male-dominated societies often are translated into minimal business opportunities for women. This cultural bias raises questions about the effectiveness of women in establishing successful relationships with host country associates. An often-asked question is whether it is appropriate to send women to conduct business with foreign customers. To some it appears logical that if Continue reading