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CARDIFF METROPOLITAN

UNIVERSITY
UNIVERSAL BUSINESS SCHOOL
[Date]

Module Leader: Prof. Siddhartha Bose


2016 -17
Subject: Business in Global Context
Name: Jayesh Garg
Batch: Level 4 (BABM5)
Cardiff registration: ST20112433

Acknowledgement

I wish to express my sincere gratitude to Cardiff Metropolitan University, Wales
United Kingdom for this assignment in Business in Global Context.

I sincerely thank Professor Siddhartha Bose for his direction and encouragement
in carrying out this project work.

I also wish to express my gratitude to the officials and other staff members of
universal Business School who rendered their help during the period of my
project work.

I also thank the Director of Universal Business School Mr. Gurdeep Singh Anand
for providing me the opportunity.
TABLE OF
CONTENTS

1INTRODUCTION .............................................................................................. 3

LEARNING FROM THE SUBJECT ........................................................................ 4

PATCH 1: - THE BUSINESS OF SUSTAINABILITY ................................................ 6

PATCH 2: - THE BUSINESS OF HAPPINESS ........................................................ 6

PATCH 3: - THE BUSINESS OF ETHICS AND SOCIAL RESPONSIBILITY ............... 7

PATCH 4: - THE BUSINESS OF TECHNOLOGY .................................................... 7

KEY LEARNINGS ................................................................................................. 8

CONCLUSION .................................................................................................... 8

REFERENCE ....................................................................................................... 9

WORKS CITED .................................................................................................... 9

Introduction

This course particularly briefs on worldwide business situations and patterns of globalization,
by analysing casual and formal organizations of various countries. The principle point was to
comprehend the difficulties that a business needs to confront due to different ecological
circumstances. It clarifies how administration works at a worldwide level and how worldwide
market works. It gives a review of significance universal exchange and outlays assumptions
which brought forth organizations like IMF, World Bank and many more. Globalization has
changed the way world works. It has decreased the boundaries among individuals. It has
helped the Nation in many fields of business, money and society and helped the Government
in numerous zones. It has speeded up the stream of individuals, merchandise, capital, and
minds across the globe. It has helped in expanding transportation, innovation, and
correspondence. Globalization has helped in change and innovation. Globalization has made
individuals aware about westernization, receptive to adjustments in lifestyles, and taught us
values to mend thoughts. It also shows the world the idea of development, to be applied in all
conceivable fields of business, thereby diminishing danger, expanding benefits and cut an
edge from the rest of the group. It helped us to comprehend how organizations make
universal procedures for their items to showcase, develop and be sell their business
effectively. Globalization has levelled up businesses universally. However, worldwide
business has a great deal of differing qualities and unpredictability with a considerable
measure of danger and vulnerability. In such conditions, a business association needs to take
amends at the political, monetary, social, innovative and legitimate conditions in action.
(fuchs doris, n.d.)

Learning from the Subject

Globalization: -
There are distinctive perspectives about globalization. Some trust that it is the quickest means
for Innovation. Some say, that it is the extension of Multinational Organizations. While some
find it great, some individuals find it terrible in view of the contradictions between societies
and the world. But, the world cannot be restricted with the national limits. It needs to move
quickly with homogenous arrangements without national limits. Globalization incorporates
cross fringe exchanging, transportation, and media transmission innovation.
In light of this, there is a great deal of increment in occupations over countries. However, the
advancement of global bodies is likewise critical in some aspects. Presently, there are
exchange administering bodies like GATT (The General Agreements on Tariffs and Trade)
and WTO (World Trade Organization) which take the key monetary choices with regard to
world exchange, thereby having control over the country's representing bodies.
World Bank additionally gives assets to the country, working for making huge changes in the
foundation and impact business groups by teaming up with different nations.
(gure, 2011)

International business: -
Management is principally, getting things done. This include considering, settling, arranging,
sorting, staffing, controlling and planning efficiently, so as to accomplish authoritative goals.
In any case, administration additionally intends to have a vision, make an implementing
change, and getting powerful outcomes. Organizations embrace a strategy for Introduction,
before joining hands for the goal, to keep pace among every one of the representatives. An
association having a specific methodology could prosper as one player in the market, yet not
be that fruitful in different other markets due to social differences. Administration of any
worldwide association cannot be always altered, but must be exceptionally alert.
Globalization is to move business towards an all-round development and sustainability. At
the end of the day, it is the move from national residential resources and liabilities to an all-
inclusive incorporated condition. Globalization of business sectors is fundamentally getting
the geologically unique markets all together into an enormous worldwide commercial centre.
By means of globalization, it also cuts national contrasts of cost and contributes to creation of
a more extensive market for offering its yields.

For instance, a man in United Kingdom is able to sleep on a bed made by the wood of oak
trees from Jammu and Kashmir, consume cosmetics made in China, wear garments created in
Saudi Arabia, enjoy a cappuccino by Italian origins, and use a Micromax phone outlined in
Finland. This is the impact of Globalization. Hard and fast utilities have come in our grasp
from different nations and have impacted our everyday life in such great amounts that
without globalization, our lifestyle would seem incomplete.
(Fitzpatrick, n.d.)

Evolution: -
In 1960s, USA was a predominant nation in world economy and exchange. While in 2008,
USA simply had 20% partake in the world economy and exchange. Similarly, all the nations
saw a decrease in their share of world, while other developing nations expanded their share.
By 2020, it is predicted that developing nations will have a share of 60% in world economy.
Nations like Japan, China and Germany have developed as worldwide monetary players. In
spite of the fact that USA, UK, Germany, Japan were the first to have industrialization, they
have the principal favourable position here and they will have their essential standard and
will see an extent of upgrades. There are six most vital players- USA, UK, Germany, France,
Netherlands, Japan. These Nations had the greatest partake in 1980s. However, they have
steadily declined.

(Sharma, n.d.)

Multinational Companies: -
Presently, there are different changing patterns in the world. Hence, entrepreneurs are
keeping in mind the end goal to extend their business and make benefits. A Multinational
Organization is an association which works in multiple Nations. After 1960s, associations
from quickly developing nations have begun taking an upward front and getting a vital place
in the world. Because of innovation, all such associations are now reaching out through the
World Wide Web too, instead of physical monitoring. This is the impact of innovation that
globalization has birthed for us.
The World War had made the Russian socialism crumple, thereby giving new chances to
Indian European and Chinese locales as centre points for being the district of creation and
development of new organizations.
(Anon., n.d.)
Patch 1: - The business of sustainability

Press release3 gives the information on the facts of Radioactive pollution which is one
of the biggest Danger in the World, Due to radioactive pollution the radiation waves are
emission of the particle or energy in wave form. This is called Radioactive Pollution. They
are of many types example Electromagnetic Radiation, microwave, infrared, ultraviolence
rays X-rays and gamma Rays. As per the report by the Scientist and Journalist Dr DL
Narayana and RN Saladi 8650 people are dead till now and there is a death in every single
hour on earth due to Radioactive and the radiation which gives you Skin Cancer.

Due to the widespread source the government of numerous nations had fundamental
principles and regulation for an enterprises. Through this government will give industry a
limit for release of insensitive substance and gasses in air. Its been done because of pollution
issue at regional or global level. Government of many country had started punishing industry
who are affecting the Environment and responsible, licence of the firm can likewise
Cancelled. It is dangerous to understand the earth. We can stop Radiation and prevent
exposure by handling and treatment of radiation waste, Containment of the waste in
radiation-shielded containers buried under ground and by Isolation of radiation waste in
remote locations. Here we find about the lesson of keep our environment clean and also
instruct others on a similar with the goal that peoples have less destruction and impact of the
same is minimal on the people and other creatures.

The poster and the press release presentation the business of sustainability. This job gave us
the information, knowledge and data that how by misusing natural resources business is
depleting environment. Therefore, business has to give back to environment if it wants to
sustain in this nature. The press release and poster made us know how business is depleting
the ecosystem and how all such harmful activities can be diminished and misused.

Patch 2: - The business of happiness

Writing blog determines to express your views on the topic and in the current patch I
described some view on the topic Business of Happiness. A good Business Environment
brings about good conditions for the people, and good and happy conditions of the people in
turn effect the business scenario of that nation. In fact, there was a new criterion to find the
most Sustainable Nation for the Business activities: by measuring the gross Happiness Index!
There was a study done in various Nations to measure the collective prosperity of Countries
individually, based on the Happiness of the people, for knowing the success of the Country!
So basically, the overall success of the country was analysed by the citizens state of well-
being. Here we find how the role of happiness is connected to the prosperity of a Nation,
holding a direct shift in its growth and abundance rate. Denmark followed by Switzerland
ranked at the top for the most appropriate nation for successful business activities compared
to all the countries round the Globe, as it measured the highest Gross Happiness Index based
on the research.
The blog on happiness which I wrote give us an insight, awareness and understanding that
how the business has to lookout of their workforces. In an business a person who gives his
time and efforts in order to make output is very important. Corporate has to take care of the
individuals in order to improvement and the Progress. This gave knowledge that how firms
uses various strategies to satisfy employees fully so that they work at the best of their
capabilities and give their 100% output and this will make the business progress on top.
Patch 3: - The business of ethics and social responsibility

Patch three talks about the idea of Corporate social Responsibility and ethics that are
carried out by the Business, Business Ethics and Corporate Social Responsibility are all about
bearing in mind the full weight of any corporate decision. Business ethics refers to principles
and standards that define acceptable business conduct. Ethics are important in business
because they build trust and confidence in business relationships. Unethical actions may
result in negative publicity, declining sales, and even legal action. An ethical issue is an
identifiable problem, situation, or opportunity requiring a person.
In patch three I have designed the case study of DMG Ltd. Real Estate company in the city
Indore which in not just not selling Home but happiness to other people. the case study of
DMG Ltd. founded the corporate social responsibility that the company should follow and
the companies design a strategy that helps them to gain more of consumers support and
satisfy them and being socially responsible as well. DMG LTD. has partnered with local
government body (Indore Municipal Corporation) and is working for betterment of children
and developing of Garden across the city. This makes DMG LTD. socially responsible and
the customers of DMG LTD. are mostly growing families so they are also happy that DMG
LTD. is working for children betterment and many things.

Patch 4: - The business of technology

Patch four describes The influence of Technology. Technology has not only improved
persons life and made work comfortable, but has literally changed the working of the world.
Today, use of technology has increased with a giant percentage of users and is mostly used
by the youth. Digital technology defines todays world and it will be a vital technologies of
future. The world is changing at extreme speed and at the same time government and
business are fear about how technology can be used and served for the interest of humanity.
Thats why they have started many ways in which industry and government are using digital
technology for identification purpose example Use of Aadhaar as digital identity for mobile
banking.

Nowadays everything we do is business, fun, entertainment, in just one click. Technology is


required in all the operations of business patch four made us understand the key aspects via
which all the business work in this world. Via globalization business has widen its reach but
to maintain its operations in such a wide area business need to govern all its strategies
globally. It has to maintain proper communication and transfer of important data. This is only
possible via technology. Therefore, in patch four analysis of how business uses this tool in
order to be a progressing organization was done.
Key Learnings

1) How business serves as a foundation to international trade and finance, giving an overview
and framework for getting in depth with global economy, MNCs, changes with globalization
and key strategies to managing international commercialization. This also includes the
cultural, social, ethical and corporate social responsibilities of businesses and how these
factors play a big role in Globalization. (mancesti, 2015)
2) The theories, patterns, growth, and returns of an Investor for Foreign Direct Investment
were the main learning. Organizations across the Globe could be regionally integrated,
globally integrated or multilateral. The foreign exchange capital markets and the institutions
related to them play a key role in this aspect. (FK, 2016)
3) Analysing administration, geography and economy based frame works for effective
strategic management of a business in international contexts. The competitive strategy of
global businesses state the procedures through which companies in global market approach
activities like resource management, dynamism, strategic planning, evolution of models like
porters five forces and PESTAL analysis, value chain and human resource management.
Businesses need to thoroughly analyse and amend strategies of different factors in various
contexts in order to position themselves in the market and penetrate into the global world.
Business operations evolve strategies for growth and acquisition by making market
assessments too. This involves the analysis of the 4 Ps, forming the marketing mix- product,
prize, place and promotion. (Fahey, 2001)
4) VUCA conflates four particular sorts of difficulties that request four unmistakable sorts of
reactions. That makes it hard to know how to approach a testing circumstance and simple to
utilize VUCA as a prop, an approach to divert from the diligent work of technique and
arrangingall things considered.
5)How management of big organizations, showcasing different organizational structures and
processes in different institutions and cultures. It also elaborates on info systems for products
and services including strategic sourcing issues, logistics, country attractiveness, make-buy
options and other developments.

Conclusion
From the above example we get to know that it is important for businesses to adopt changes,
and change with the changing world. Its important for businesses to be positive, help the
society and be responsible for the activities they do. For boosting of the economy, there also
has to be transparency of business so that all the work is done in a clear cut manner. Companies
need to use strategies so that they can structure their work and follow growth. Use of different
model like SWOT, PESTEL, VUCA, Force field analysis will help them to understand their
working environment and the factors that harm a business. This will help the business to
identify the rivals and make a success story out of their business model.
Reference
Works Cited
fuchs doris, n.d. rienner.com. [Online]
Available at: https://www.kpbooks.com/uploads/47e2876cbebcc.pdf
Anon., n.d. Fisher College of Business, Ohio State UniversityColumbusUSA. [Online]
Available at: http://link.springer.com/article/10.1057/palgrave.jibs.8400197
Sharma, a. k., n.d. emerald insight. [Online]
Available at: http://www.emeraldinsight.com/doi/abs/10.1108/13683040710820719
Fitzpatrick, M., n.d. [Online]
Available at: http://amr.aom.org/content/8/2/249.short
gure, w., 2011. bookboon.com. [Online]
Available at: http://bookboon.com/blog/2011/10/how-globalization-affects-business/
[Accessed 2011].
mancesti, 2015. http://www.oxfordleadership.com/leadership-challenges-v-u-c-world/.
[Online]
Available at: http://www.oxfordleadership.com/leadership-challenges-v-u-c-world/
FK, A., 2016. [Online]
Available at:
http://www2.dsu.nodak.edu/users/rbutz/International%20Business/PDF/Int_Bus_Ch1_Glob
alization.pdf
[Accessed 2017].
Fahey, N. a., 2001. [Online]
Available at: https://www.kbmanage.com/concept/pestel-analysis
[Accessed 2001].