ATHE Level 5 Business Organisations in a Global Context Assessment Answer

Introduction

Understanding business organization and operational procedures of much importance in the present era. The understandings of current conditions for business ventures, quality issues of products, and customers’ expectations that are aligned to the technological advancement are critical concerns for any organization to achieve market success (De Mooij, 2013). The global business operation also requires any organization to seek appropriate responsibility measures and frame a corresponding strategy to manage the operational procedure. The present report discusses the impact; analyzes the organizational responsibilities, and recommends strategy measures for the global business prospect.

1. Understand the key differences between global business operation

1.1. Analyze the key differences between organizations working in different sectors, industries, and contexts

The organizational units present across the globe are generally stratified into segments like the public, private sectors, and non-profitable runs. The main characteristic of the public sector organization is that it is organized, managed, and controlled by government legislation (De Mooij, 2013). In contrast, the private sector is managed and administered by a group of stakeholders, a person as an authoritarian or collaborative firm with private ownership. The differences between these two sectors are also accounted for based on legal status and ownership. The policy matters framed in the public sector are held constant in the long run and are common among all the associated departments (Spithoven, Clarysse & Knockaert, 2011, pp.10). In private sectors, the policies are framed according to the organizational objectives that are subjected to change based on the perspective of stakeholders. According to the Senior Management Board, the present requirement is to seek measures for displaying knowledge and expertise as per the new brochure for clients. Discussion of the work procedure, orientation for achieving the outcome, and maintaining the market reputation is thus based on organization type, mode of governance, and defined objectives.
The key difference between the two sectors (private and public) is that the organizational objective and goals in public sector firms are oriented towards the benefit of the commonwealth(Spithoven, Clarysse & Knockaert, 2011, pp.10). On the other hand, the organizational goals in private sector firms are linked to market success, cost-profit orientation, and trade orientation. Strategic operation in the private sector that is based on sustained environmental issues and community benefit has the objective to minimize conflict with local government as well as to achieve and maintain market reputation. The structure and size of the organization of both sectors also differ significantly. For instance, the maximum numbers of employees in the public sector are high compared to the private sector. The rationale behind such structure is linked with consideration of reducing overhead expenses and increasing profit margin private sectors (Lumpkin, 2013, pp.761). Internal to the organization, a restriction of material transferability and shareholding authority, exists in the private sector; whereas in the public sector frequent procurement of material has a limitation. Other than this, for a public sector firm number of directors and appointed qualification shares are higher compared to the private sector.
The non-profit organizations are established with the objective of ‘profit-making’ with the minimal scope of business emphasis. Such a decisive run aims to generate money through donations, charity, and other fund-raising activities. Notably, these organizations are exempted from tax or other similar provisions, with several directors and qualification shares varying, depending on the scope of non-profit organizations (Lumpkin, 2013, pp.761).

1.2. Assess the responsibilities of organizations operating globally

The organizations working at the global level have their context linked to the international, national, and local levels. Ideally, these organizations need to organize and manage things in terms of monetary affairs, collaboration and connections, market risk, cultural constraint, and legal framework for maintaining a smooth flow of business. The shared responsibility that the organizations need to manage while working at a global level includes managing the legislative framework at various nations, such as employer provision, protection act, taxation, legal measures on property, and assets(Crane, Matten & Spence, 2013, pp.3). The rationale behind this is to minimize conflict, mitigate any challenge that can reduce the workflow, and strategic management of operational activity that displays sustainable practice in benefit to environment and commonwealth. Understanding the market pattern, resources available, and strength of business activities is another important responsibility. These responsibilities are important to maintain a perfect competition in the market and long-term relationships with the significant elements of the market like supplier, outsourcing firms, collaborative and partnership organization, and overseas activity of import and export. Competitiveness of the business with local and other international organization also need to be addressed with the strategic framework. To this point, maintaining market reputation, public image, and trust to the customers is the prime objective that can be fulfilled with this responsibility. Additionally, the organizations also need to maintain the uniqueness of the product for the acceptance criteria of the local population (Crane, Matten & Spence, 2013, pp.3).
The Cultural and traditional response of each sale, promotion, marketing mix (7P’s), and consideration of socio-economic factors necessary for achieving market sustainability. Similarly, the supply chain, the scope of outsourcing, and overhead expenses as per the local and national framework is also a need to address, with rationale as discussed above (Brammer, Jackson & Matten, 2012, pp.3).
Overall, these frameworks are necessary because; it reflects the responsibility and duties of an organization towards the environmental, social, economic, and cultural trends. These measures are generally considered with the framework of legal and regulatory guidelines that ensure mitigation for any conflict with any political perspectives. Likewise, the environmental impact analyses, the influence of marketing on society, and the positive consequences of the population are also covered within these scopes, which in turn ensure framing a trustworthy relationship with customers(Thite, Wilkinson & Shah, 2012, pp.251).
Lastly, the code of ethics that aligns with morality and culture values with organizational operations is important to understand. The pursuit of proper notation in the regulatory procedure is necessary for maintaining the long-term functionality of the organization. The organizational recreation for targets of commerce, customers, suppliers, competitors, and environmental objectives is possible with maintaining the ethical code of organizational conduct. In particular, market trends, cultural aspects, and legislative frameworks are important issues that change from nation to nation (also organization to organization). Thus, from the organizational point of view, identification and implementing the change in the work procedure is necessary that suits best with such determinants.

1.3. Evaluate strategies employed by organizations operating globally

Organizational strategies include different measures that can fulfill the objective to increase profit, sustain the market values, maintain competitiveness, and avoid conflict. The most important strategy for any organization is to manage change in business and functional level. The important aspect of this strategy is to utilize the resources in a maximum efficacious manner. Benefits of the same are reflective with reduction of overhead expenses, innovation in the outcome, and an increase in profit margin. Another important issue is a comprehensive strategic framework to achieve competitive success. This strategy is essential for maintaining the trust of customers, offering products and services of the best standard, the suitable price value of products. Note that the retention of customers and maintaining the reputation of the firm is possible with these mentioned strategic measures(Crane, Matten & Spence, 2013, pp.3).
Growth and diversification focus is another strategy for organizational operating at theglobal level. The term“growth” is linked with business expansion, the opening of new units, creating new products with improved services and characteristics, and implementing technological standards. When the product outcome, working procedure, and collaborative framework are not effective for any organization, it becomes necessary to seek strategy related to “reconstruction and divestiture focus”. The rationale behind such an objective is to continue business operations and to survive in the market. Hence, these mentioned strategies are requisite for sustainability, growth, and expansion of organizations at the local, national, and international levels (De Mooij, 2013).
Another strategic implementation in the present business era is linked with the utilization of technological advances and the utilization of e-commerce. The focus of these strategic measures is to make use of the internet for business operations. The benefit is linked to attracting customers; minimize the investment in retail stores; and easy-to-manage supply chain. Likewise, e-business strategies are also crucial in the present conditions that offer a competitive advantage as well as continued business procedures (Pan, 2015, pp.409).

2. Understand the impact of external factors on organizations

2.1. Analyze how the performance of national economy impacts on the activities of business organizations

The performance of the national economy is of great consideration on the overall business operation, target framework, objective, and measures to seek improvement. Hence, for a successful business layout at the global level, it is essential for any company, first to analyze the national economy that can give a clue for strategic framing (Boons, Montalvo, Quist & Wagner, 2013, pp.1). The essential requirements in this regard are the population factor, GDP of the nation, education level, and the current trend of the market. The reason these factors are important because it will affect the government tie-ups such as taxation, customer duties, service charges, debit, and credit considerations. A common example can be considered for an automobile company like Toyota, which origins from Japan and is functional at theglobal level. The company is known to have the maximum market reputation in the automobile industry, owing to its service quality, customer satisfaction, and global business perspectives (Ács, Autio & Szerb, 2014, pp.476). Notably, the price value of the Japanese Yen is much less compared to that of the UK euro, yet the company can achieve global success in business standards. First, Toyota estimates that based on Euro value, it is possible to seek the latest advance of electronics and technology into automobiles. Second, when the price of the product is increased, customers in the UK can afford the same because of the GDP factor and high-income status of UK citizens. Presently, Toyota has a total investment of more than 2.2 billion Euros in the UK, owing to the reliability based on the UK economy. In contrast, the technology standards, which Toyota uses in Japan are from the local expertise (tie-ups with company Rapid Electronics), such that product prices in Yen can be supportive of the Japanese population. This is reflective of effective strategic implementation by Toyota based on the economy of nations.
Considering another example of telecommunication company Vodaphonein the UK, where the legislative framework of the European Commission, stresses on low tariff rate and convenience of customers. The control and continuation of the business of Vodaphoneareonly possible to run with nominal economic consideration (low price services for customers and low-profit margin for the company). Hence, the investment of the company in the UK produces fewer profit margins due to the legislative framework. Importantly, the company also has no choice to reduce the technical standards of services as in that case, Vodaphone can lose competitive advantage, compared to other telecommunication firms (Ács, Autio & Szerb, 2014, pp.476). Based on such evidence, it is reflective that “apprenticeship” and “skill-related agenda” that manages the organization to comply with the regulatory framework and meet the customers’ demand, may not be sufficient to offer a better profit margin(Kastalli& Van Looy, 2013, pp.169). Hence, the economic performance at the national level needs to be analyzed, which can further facilitate the credit and debt-related transactions for the business operation. Correspondingly, it becomes easier for the organization to manage the associated risk and challenges in the market for strategic planning of organizational conduct.

2.2. Explain the measures taken by governments to influence the activities of business organizations

Government actions are necessary for business consideration because different legislative and political agendas at various nations have specific viewpoints and criteria. Thus, managing the operational activity according to those frameworks is the key to sustenance and existence of any company in that particular market. The first measure of government to influence business activity can be accounted for with monetary policy. The taxation policy for a property, business run, value-added tax, and sales tax are the necessary determination in this regard (Cullinane & Cullinane, 2015, pp.201). The objective of the government is to manage the movement of capital between investment and granting tax status, which the organization needs to understand, before starting the business operation. Another related measure is currency inflation because inflation in currency value leads to a short-term economic boost. For the company, the inflation rate (trend) is valuable as investor tends to invest more, to seek corporate profit. In contrast, savings becomes less valuable with increased inflation rates and leads to a negative impact on long-term debt benefits (Cowles, 2013, pp.108).
Subsidies and tariffs are almost similar terms for a taxpayer, which is another important measure of government to influence business procedures. The government taxes the public (subsidies), such that the money can be given to a company, to make it profitable. Likewise, the government imposes more tariffs on foreign products to facilitate domestic suppliers to make a profit(Cowles, 2013, pp.108). Thus, for suitable business operations, the companies need to evaluate the government standard and optimize their business procedure to get favorable returns. Regulation and corporate tax are other similar measures, with which the government can attract or resists companies for investment. For any company paying the tax to the government should not be considered as a determinant of business growth, as the same proves to be a factor for competitive disadvantage (Dickinson & Wood, 2011). Thus, for the bottom-line measures, the company should seek prospects to attract the larger market, manage profit with a reduction in production cost and maintain a good relationship with government (in terms of tax, tariffs, and corporate tax) for business proliferation and growth.

3. Understand the impact of the global factors on business organizations

3.1. Explain the implications of global integration on business organizations

The first positive implication of global integration is over the humanity, where the resources, products, and services of one country can be used in another location (Chen, Chiang & Storey, 2012, pp.1165). Of course, the credit of all these considerations aligned to the advancement of science and technology and increased use of the internet. As a result of this, the market sizes of developed, developing and even underdeveloped countries are increasing. In the prospect of global integration, the security of the business transaction, tax issues, and bilateral relationship bring the conflict in the organizational procedure. With the availability of such regulatory and legal considerations, it is possible to mitigate such issues and maintain the strong prospect of business proliferation (Scherer & Palazzo, 2011, pp.899).
In the context of globalization, the regulatory framework is strongly prepared and implemented to the international market for trade bloc policies. The objective of this policy implementation is that international trade affairs, associated commerce, and business procedures can be managed at a nominal pace and commonwealth harmony (Scherer & Palazzo, 2011, pp.899). Similarly, the prospect of increased globalization is linked with the availability of credit and debit ventures. For example, World Bank, G20, OPEC, and other relevant organizations can invest the monetary requirement, compensations, and support to the nations (Chen, Chiang & Storey, 2012, pp.1165).
Other impacts that are reflective are linked to the domestic and international market growth, economic growth of the concerned nations, and collaboration with the political factors(Kowalkowski, Kindström & Brehmer, 2011, pp.181). The policies include customer protection, monetary return with dis-satisfactory services, employment law, and health safety issues. Lastly, the impact is also reflective of the social factors that are evidenced by the lifestyle change, use of technology, and behavioral change in the population worldwide.
Aligning and integration of talent management within the business is also a significant benefit that occurs with globalization. Thus, the company needs to implement a robust procedure for recruitment and selection of talented employees. Likewise, management concerning cultural diversity, valuing the customer’s perspective, and ensuring motivational strategies to retain competent employees are also reflective by globalization (Spithoven, Clarysse & Knockaert, 2011, pp.10).
Companies also adopt a“rethinking approach” for the mobility and expansion of customer size. This is reflective of the increased prospect of e-commerce, e-business, and cloud computing. These measures improve the supply change management, logistics, inventory control, and outsourcing collaboration related organizational activity (Dickinson & Wood, 2011). The multidirectional flow between talent, rapidly growing market, and high-potential program are thus the outcomes that are influenced by globalization.
Sustained approach for managing demand and supply is another important issue that helps the organization in understanding the market behavior. The rationale for this is linked to the aim of achieving competitive advantage, maintaining a long-term relationship with partnership firms, and retaining loyal customers. The changes are also reflective of the increasing trend for business analysis (PESTLE, VIROS, and SWOT analysis) that helps the company in building an effective strategy and predict accurate forecast for managing the balance between demand and supply (Chen, Chiang & Storey, 2012, pp.1165).

3.2. Assess the effect of international trade on domestic products and services

Domestic goods and services refer to the market variables that are produced by the host nation every year. The concern related to the impact of international trade on the domestic trade is crucial because of certain reasons like profit margin and economic benefit that can be sustained within the nation(Peters, Minx, Weber, & Edenhofer, 2011, pp.8903). Government regulations of any nation are making this possible with tariffs and taxes on foreign products. Likewise, an increased rate of corporate tax is also a valuable tool by which the government attempts to restrict foreign investment into the local market (Breinlich& Criscuolo, 2011, 188). On the other hand, if the demand and quality of the domestic product can be maintained at an optimum level, the same products or services are also possible to get the opportunity for international demand (export business). Likewise, the government also seeks opportunities like subsidies with which they can collect money from local taxpayers and offer the same revenue to a foreign company for making a profit. The raised money can be further used for the development and progress of the local market. It should be noted that any negative economic effect on the domestic business operation can shut the bank, increase the unemployment rate, and have the potential to reduce the nation’s GDP. Hence, an effective strategy by the government is important to maintain the minimal influence of globalization on the growth of local and domestic markets(Peters, Minx, Weber, & Edenhofer, 2011, pp.8903).
The positive influence of globalization on domestic trade and products can be found with the concept of “perfect competition”. Domestic products bring reformation in operational strategy, recruit talents, implement learning from case studies, and manage to integrate the technological standards in the product. As a result of this, community member introduces the lifestyle changes and get the opportunity for improved products and services, either from local or international firms. Likewise, with the prospect of globalization, international companies adopt trade and business exchange across the globe, that ultimately helps the government to collect taxation and trade customer. This, in turn, helps offer opportunities for growth and improvement of the nation’s GDP.
Thus, the globalization prospect has both positive and negative implications on the domestic market. A noteworthy point to mention in the globalization prospect is that it also becomes easier for the domestic product and services to supplement and fulfill the market demand. Additionally, the impact of international trade also generates a sense of competition and opportunities to retain the customers and compete for the profit margin (Peters, Minx, Weber, & Edenhofer, 2011, pp.8903). Overall, this results in opportunities for the quality improvement and integration of the customer into the domestic variables, which facilitates healthy and survival competition with the international trades.

3.3. Review the impact of the global economy on business

The global economies have the potential to the module and alter the local and domestic markets. The effects of globalization can be realized in terms of competition among the companies that control the level of services, price (raw material and product), credit and debit, and induces changes in market trend (Kose, Otrok & Prasad, 2012, pp.511). With the improvement in technology, electronics, and communication, the expectation level of customers is also scaling up. Global markets always have superior power in terms of technology, electronics, communication, and innovative strategy to succeed in the customer’s requirement. This leads to the development and maintenance of the competitive market environment, which is helpful for domestic companies to scale up quality for meeting the customer’s expectations. Both of the said terms, therefore, have a contribution towards maintaining the standards and quality outcome for the community use.
A similar impact of globalization can also be found in policies and regulatory frameworks. The mainframe of these regulations is necessary for global companies to maintain market value concerning the legislation of individual government or political power. For example, UK Company Ford Motors have followed the taxation policy of China if the functional unit is working in China market, whereas, within the UK, they follow the trade guidelines of the European Commission (Porter & Kramer, 2011, pp.62). Likewise, for UK customers, European Commission mandates that pricing strategy should have a minimal profit margin that must suit European citizens, whereas, for the China market, the government has no rules for customer security. The rationale for discussion this point is that organizations need to modulate and change their work procedure according to the applicable trade regulation and government legislative rules (Gilbert, Rasche & Waddock, 2011, pp.23).

3.4. Assess how ICT technologies have facilitated globalization

ICT refers to the advancement of Information and Communication that is facilitated by technological advancement. ICT has a significant contribution to the progress and development of the society, domestic market, and global announcement for business(Palmer & Perkins, 2012, pp.456). Facilities of ICT that are valuable for globalization include communication, the suitability of information exchange, sharing of the needs (between suppliers and companies), and articulation of the requirement (from the customer as well as for outsourcing), becomes easier for business purpose. For example, considering the utilization of technology and its integration into routine life, it becomes easier for people to manage, share, store, and retrieve the information. Common examples in this regard include social networking sites, e-mail services, internet blogs, discussion forums, websites, and related content that are available irrespective of time and geographical location related constraints. Similarly, the use of Youtube, Facebook, Twitter, Whatsapp, Skype, and other similar devices are effective in managing the communication, exchange of information, and data sharing (Zysman & Breznitz, 2012, pp.129). Hence, for the customer, it offers opportunities to identify the updated facilities, compare the cost, inspect the quality, and raise their requirement. Likewise, for the companies, it becomes easier to integrate technology into a product, improve the work procedure, sharing talent to overseas units, and maintain a competitive environment.
The use of the internet also transforms the routine business prospect, such as mobile transactions, mobile websites for online shopping, and banking at the mobile site. Collectively, these mentioned archetypes are termed as e-business and m-business. The importance of these scopes is significant as it can facilitate the transaction of services, requirements, materials, and monetary matters at the convenience with the best speed (Palmer & Perkins, 2012, pp.456). Considering a situation for a UK based company, making products and supplementing the same to the Asian market. The scope of business prospects will thus involve design preparation, production, manufacturing, and export to the Asian market, which will make the cost of the product much higher. In contrast, if the company adopts an approach to open the manufacturing unit in Asia, much of the cost can be reduced. Likewise, the approach will also be beneficial with the availability of cheaper labor services (Zysman & Breznitz, 2012, pp.129). Note that these strategic measures are possible only because of ICT advantage for communication, exchange of information, storage, and cloud features for data integration. The advantage of such facilities and technological/communication integration is to provide the suitability of business procedures to acquire cost-effective strategies. Ultimately this leads to an increase in domestic and international market growth, meeting the customer expectation, and preparation of affordable products covering a wider range of populations across the globe. The link with which ICT facilitates globalization can be accounted for based on a platform that erodes the barrier of time, space, and communication. The powerful tools in this system are computers, the internet, and mobile phone. With the digital advantage, it becomes easier for companies to improve strategy with research, increase market size by reaching people all over the globe, and sharing the data with all the collaborative or associated firms that contribute to the organizational procedure.

4. Be able to review current issues impacting on business activities

4.1. Review the global environment in which businesses are currently operating

Executive summary: The growing trend of globalization requires the company to identify and understand the business environment, to manage effective strategic implementation. The key terms include customer focus, following the legislative regulations, and the use of ICT in business operations.

Introduction: Globalization facilitates the companies to grow their market size by making customers all across the globe. The operational activity at the global level includes the acquisition of raw material, recruitment of talents, using market analysis for strategic management, and seeking valuable implementation into work procedure.
Purpose: The purpose of this report is to review the global environment in which the business procedure is currently operating. The importance of identifying and elaborating the business environment for any company exists in strategically efficiently framing their operation that in turn will be useful for achieving objectives and market success.
Question: What are the determinants that are keys to the present global business environment? How risk identification and market research can be carried most efficiently? Why is ICT considered to be the most important archetype for the globalization factor? Is regulative and legislative framework crucial for global business?
Explanation: The fundamental determinant of the global business environment is social forces. The management of customer service relationships is of prime importance in this consideration, where the exchange of material, cost negotiation, and policymaking are the essential contents (Scherer & Palazzo, 2011, pp.899). People across the globe are having better access to media, and hence, the expectation and requirement for technology and innovation are increasing the routine business operation. The globalization context also creates a gap between the youth and elder people, which is reflective of the increased expectation level of customers. This requires any company first to identify its strengths and weaknesses points. Likewise, the analysis concerning economic factors, political factors, social factor, and technological determinants are necessary for maintaining the quality and standard of product.
The use of internet services, communication channels, ease of travel, and attaining the materials for comfort are becoming more popular for people (Slack, 2012, pp.179). Likewise, the same paradigms are valuable for companies in managing talent, demand and supply, information exchange, and analysis of market trends. Overall, this leads to a change in perception as well as the requirement of customers, which the organization needs to access and modulate to frame strategies. This can also be said as technological forces, which enforces the transformation in the market values (Subramanian & Ramanathan, 2012, pp.215).
To formulate a safe environment for the business orientation and meet customer’s requirements, robust policy frameworks are also being prepared. Particularly, the evidence available with one organization can be used for the reference scenario in other organizations, and hence, a similar policy matter incorporates all such scenarios. The provision is thus strengthening customer protection and avoiding risk to the business procedure (Hassini, Surti & Searcy, 2012, pp.69). Lastly, with the prospect of globalization, the issue related to international trades is also made suitable such that all the nations participating in the venture can get benefited from excellent business management.
Recommendation: Companies are nowadays seeking opportunities for market growth and retention of customers. Hence, they need to value the customer’s requirement such that the achievement of competitive advantage can be possible. This infers the requirement of market analysis, identification of threats, challenges, and barriers to the organizational procedure, and competitive factors in the business(Scherer & Palazzo, 2011, pp.899).
Summary: In summary the companies need to identify the market trend and need to implement customer-focused strategies to survive in the market competition. Additionally, it is also requisite to frame organizational policies according to the government policy for the sustainability of business operations.

4.2. Propose strategies to address issues affecting business activities

Sustainability is the key to market success in the present business environment. Hence, every company needs to invest time and resources for the identification of a change in the market scenario and well as in technological advancement.
The first requirement is to identify the regulatory changes that have the potential to influence the business operation. Understanding this term in a broader context is essential such that collaboration, environmental issues, competitiveness, and customer expectations can be managed efficiently. In addition to the international regulatory framework and government legislations, companies are also required to identify the social determinant that influences operational activity. Strategy building in this regard must comply with the identification of physical, environmental, technological, and economic factors that are linked to the business procedure(Bocken, Short, Rana & Evans, 2014, pp.42). With the help of a robust analysis of identified determinants, the company needs to frame an operational strategy that can manage price, demand, and influence the affordability of customers.
The next strategic implementation is requisite for the safety and security of the customers, employees, and all the associated collaborative firms. One prime link in this regard is associated with the exchange of credits and debits at the global level. Other than this, organizational success also depends on recruitment and retention of talents, which can be managed with improved HR policy, adoption of motivational strategies, and investment analysis. Note that the mentioned strategy also includes a suitable framework for customer service, the sustainability of products, screening of quality, and responsibility of investment(Stahl, 2012, pp.25).
Lastly, the review of information and technical standards is requisite for every company to manage the competitive position, market trend, and to retain the customers. Since, communication and internet facilities are helpful in this regard; this company should be continuously involved in business research and identification of customer requirements. Implementation of change in output is one of the major needs in the present business environment, and hence, every company needs to be ready for such management(Pan, 2015, pp.409). The resultant benefit is always helpful in competition to both international as well as domestic markets.

Conclusion

In summary, the present report deals with the ideology and operational procedure requisite by the organizations to operate at the global level. First the discussion scope was focused on the key difference between the various organizational types functional across the globe. Correspondingly, the objective of discussion in the report is shifted towards the impact of an external factor on the organizational procedures; as well as the impact of global factors on the organizational procedures. Based on this understanding, the current operational functionality for business activities and focus on the customer’s expectation should be implemented for positive benefits. In addition to this, the need for technological innovations, market size, and socio-political impact is also necessary to analyze and implement in strategy building. Overall the information present in the report is believed to help understand the business activities and its operational function concerning the national economy and the globalization impact.

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geographical location is also required to understand. Note that organizational responsibility for global business lies in understanding and preserving cultural values, but not in promoting national culture, to dominate at the workplace. This is also important to avoid stereotypes in the workplace and to maintain optimum work procedures for achieving organizational objectives.