Principle of Management
(Global Management)
Global Management is concerned with the techniques and practices that are involved in directing and controlling international organisations. Thus, it covers all the issues that arise as a consequence of international and global strategies. In practice, strategy and management at the senior level of a company are inter-related.
Global management also refers to the way an organization manages its business internationally, including its sales, marketing, hiring and finance practices.
Therefore, global Management can usefully be considered from the perspective of the different functions of the organisation which include marketing, production, human resources, finance and other support activities like …show more content…
For a number of reasons, understanding the concept of global management will go a long way in helping a global manager and also show its usefulness. Basically, it can be concluded that global management originated from the need to extend customers in other to make more profit. Another reason for global management is to gain more labour and generate more capital.
Apart from these, even though it might not be the intention of a company, global management brings about cultural integration, technology transfers and development.
However, there are some major challenges in global management which requires modern managers to operate in a complex global arena where the resource supplies, product markets, and business competition are global in …show more content…
There are different types of multinational corporations and they include ethnocentric MNC which exerts strict control over foreign operations, polycentric gives foreign operations more freedom to operate as separate and geocentric MNC which seeks total integration of global operations.
In the process of considering global management, its strategies should also be considered. Global strategist Professor Richard Lynch highlighted five key resources for building a global strategy which includes adequate funds which he explains by explain that global strategy requires substantial funds – perhaps US$ 1 billion. He went further by stating that 'relatively new companies like facebook have needed substantial finance for marketing, business set-up costs and just running a business '.
Another one is quality which he explained by stating that all the leading world brands offer quality and set up procedures to ensure that it is maintained over time. Lengthy time horizon is another of the global strategies which have been built over a number of years. Even relatively new companies have taken time to become established. The majority of global companies were originally begun in one country and then extended over
(Global Management)
Global Management is concerned with the techniques and practices that are involved in directing and controlling international organisations. Thus, it covers all the issues that arise as a consequence of international and global strategies. In practice, strategy and management at the senior level of a company are inter-related.
Global management also refers to the way an organization manages its business internationally, including its sales, marketing, hiring and finance practices.
Therefore, global Management can usefully be considered from the perspective of the different functions of the organisation which include marketing, production, human resources, finance and other support activities like …show more content…
For a number of reasons, understanding the concept of global management will go a long way in helping a global manager and also show its usefulness. Basically, it can be concluded that global management originated from the need to extend customers in other to make more profit. Another reason for global management is to gain more labour and generate more capital.
Apart from these, even though it might not be the intention of a company, global management brings about cultural integration, technology transfers and development.
However, there are some major challenges in global management which requires modern managers to operate in a complex global arena where the resource supplies, product markets, and business competition are global in …show more content…
There are different types of multinational corporations and they include ethnocentric MNC which exerts strict control over foreign operations, polycentric gives foreign operations more freedom to operate as separate and geocentric MNC which seeks total integration of global operations.
In the process of considering global management, its strategies should also be considered. Global strategist Professor Richard Lynch highlighted five key resources for building a global strategy which includes adequate funds which he explains by explain that global strategy requires substantial funds – perhaps US$ 1 billion. He went further by stating that 'relatively new companies like facebook have needed substantial finance for marketing, business set-up costs and just running a business '.
Another one is quality which he explained by stating that all the leading world brands offer quality and set up procedures to ensure that it is maintained over time. Lengthy time horizon is another of the global strategies which have been built over a number of years. Even relatively new companies have taken time to become established. The majority of global companies were originally begun in one country and then extended over