Posted: September 29th, 2022

As firms have no control over the external environment, their success depends upon how well they adapt to the external environment.

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The global business environment can be defined as the environment in different sovereign countries, with factors exogenous to the home environment of the organization, influencing decision making on resource use and capabilities. This includes the social, political, economic, regulatory, tax, cultural, legal, and technological environments. The political environment in a country influences the legislations and government rules and regulations under which a foreign firm operates. The economic environment relates to all the factors that contribute to a country’s attractiveness for foreign businesses.
Every country in the world follows its own system of law. A foreign company operating in that particular country has to abide with its system of law as long as it is operating in that country. The technological environment comprises factors related to the materials and machines used in manufacturing goods and services. Receptivity of organizations to new technology and adoption of new technology by consumers influence decisions made in an organization. As firms have no control over the external environment, their success depends upon how well they adapt to the external environment. A firm’s ability to design and adjust its internal variables to take advantage of opportunities offered by the external environment, and its ability to control threats posed by the same environment, determine its success.
Today’s management environments are becoming more diverse and complex. This is especially true for a global manager. As business globalized, there is a need for more of global managers, as they go global, they not only handle the professional goals but also handle cultural difference and human interaction at workplace. Management side of things, management apart, they do have to handle the cultural differences.
The management of employees from different cultural backgrounds means that they need to stay abreast with the result that they are producing while still managing the differences in the culture in the different environment which they work in. This puts a lot of pressures on them and hence it is required to develop certain qualities in order to be global managers.
Qualities of Global Managers
A manager’s philosophy on international business drives his or her willingness in order to globalize a company. The philosophies could be divided into three:
Ethnocentric – managers with this philosophy would keep the business to home market oriented.
Polycentric – mangers with polycentric philosophy may limit the company to several individual foreign markets.
Geocentric – managers with geocentric philosophy may lead management to create more of an integrated worldwide presence in marketing and production.
In summary global manager should have the ability to foresee and prepare for the future. A true global manager knows his business well and has the ability to meet the changing needs of customers of today. Hence managers with geocentric philosophical view would be preferred for the world as of today. A recent study at the University of Southern California identified fourteen personal characteristics which can distinguish persons with high potential for global management from those with low potential.
Write a 2-3 page double spaced paper using a 12 point font. Students must use research from 2 Journal Articles for your responbcise and APA 6th edition format.

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