Global business strategies: success at all costs, 494 words essay example
Many organizations do not promote failure and seek success at all costs. These kinds of activities and steps ensure that employees take calculated risks, which allows the organization to come back to a growth path. A few organizations struggle to negotiate what can seem like a highwire act balancing the need to generate profits while adhering not only to the law of the country concerned but also to other relevant laws.
In the recent past, western companies have carved out spaces where honest, as well as successful and sustainable business is easily being carried out. Companies choosing a cooler and closer look have started appreciating the significant, progress that is being made by some highgrowth markets.
Successful entrants to highgrowth markets effectively deal with aspects like tone, policy, culture and training, and monitoring quite often. Further, they decide at the outset of bribing not being an option. With the passage of time, there is a dynamic reform at work in quite a highgrowth markets like Brazil and China, that is basically being driven by businesses and governments determined to snatch economic opportunities. This dynamic reform is influenced by a plethora of factors like
Growing demands for a higher living standard
A strong desire to enter global markets
Being able to attract more investment
fear of extraterritorial jurisdiction by international laws, and
Domestic outrage at blatant fraud.
All the above factors will continue to lay considerable pressure upon both governments as well as businesses while also seeking public opinion. The implication of such an increased pressure is that much more progress will be made in fighting bribery and corruption and that, in some places at least, progress will occur at an accelerating pace.
In the highly competitive environment, the endurance of an organization may depend on managing stakeholders. Still, when managers pass on this responsibility of managing stakeholder interests, there is no methodical way to assess their performance. With an assessment method, such as a report card, managers no longer rely on just observations concerning the results of stakeholder management they obtain direct information from their stakeholders and can plan intrusions accordingly.
It is important that organizations contemplating to enter highgrowth markets never lose sight of the gap between the formal and real. Investors who invest considerable amount of time on research about these highgrowth markets have realized that there is a huge likelihood of making honest profits in these markets and such investors are highly optimistic about the future growth.
There are several organizations, at some point of their lifetime, realize that they have been on the wrong side of morals and ethics. They typically set out a charter for themselves towards behaving right in their business ecosystem. The continued success of sustenance of these programs must be topdriven and must be continuously reinforced until it becomes a part of acceptable everyday behaviour.
Corruption not only rescinds the credibility of business at large, but has also had a significant impact on the daily livelihood
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