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In the present scenario the international business management is very crucial in the course of different business organisation. In order to enhance the market of the business, it is required to initiate the international business process within the company. There are various factors that the engaged in the international trade appearance within the business sectors. The accumulation of the facts, business now a day should consider the fluctuation in the business mechanisms to ensure and compete with dynamic business environment. Therefore, in business management internationally taken as innovative steps of trading, this can help a company to expand its market throughout
1. The global social responsibility and its value (K2, K4)
There are different social responsibilities that can be maintained by each business organisation. As mentioned by Werther and Chandler (2005, p.320), the social obligations are important to be b accepted in order to maintain the business formation ethical. The sequences of different global social responsibilities are depicted by the enhance business proceedings in the global market. There are different norms such as corporate social responsibilities (CSR) that are needed to be fulfilled by the companies in global form. The adoption of different social bonding ethical norms helps to facilitate the business proceedings in international basis. As supported by Luo and Bhattacharya (2006, p.15), different markets and territories have their different norms and obligations regarding business process and procedures. In the process of ethical norms that should be followed by the company which are having the trade international basis. It accordance with the norms and regulations emerged with the governance should be incorporated by each business organisation. In the course of multinational companies, there are different and dynamic economic environment that had recover the facilities of various forms of business organisation. There conditions are only satisfied with the adaptation of these norms to establish the image of the company in the international market. Therefore, it can be said that the global social responsibilities are equally important with the ever changing business structure in international basis.
However, it different countries and unions have its own terms and regulatory aspects in the world. For example, in European Union (EU), there are different regulations that should be followed by each country that comes under this union. The European Union are specifically motioned the terms and conditions for corporate holdings in the course of its business mechanism. There are some of the regulations such as business affairs and low wages for staff. In UK, there is huge interference of EU in order to have the business organizations in the country. Therefore, it is difficult to have the business organization and the companies within the UK territory. Hence, the UK decided to leave the EU constraint and form its own regards for the business corporations. This situation is formed the condition of Brexit, which means Britain exit from the European Union (www.bbc.com, 2016). The corporate governance norms are also very relevant to be followed by the multinational companies in order to have the establishment in different countries boundaries in the world. Therefore, it can be said that, the ethical and global responsibilities are need to be incorporate within the business organisation.
2. Evaluation of global market operation with principles and practices (C1)
Global market operations includes various practices and principles that to be followed within the business organisation. As mentioned by Challagalla et al. (2014, p.16), the concept of global market operations defined the market holdings by the company in international basis. The findings of global markets are engaged in the services to different markets in the economy. The operations that proceed with global approaches are said as global market operations. The multinational companies are said to have the global market operations in its course of business mechanism. There are different models that can be followed within the global market operations such as Porter’s five dimension models. As commented by Rasche et al. (2013, p.17), in order to have industry analysis, the porter’s five forces can be taken into consideration. Therefore, the discussions of porter’s five forces are as follows:
Figure 1: Porter’s Five Forces
(Source: Rasche et al. 2013, p.17)
There are different types of industry analysis that are faced by the structure of a company. In order to enter into an industry, there are different rivalries that can resist the outcomings of a particular business. This rivalry can be said as bargaining power of the suppliers and customers in the market. It is very difficult to have free bargaining structure in the market. There are threat from the substitutes and also the threats from the new entries in the market.
However, the markets have the theories and practices such as the dimensions and reductions of various form of proceedings by the company. As supported by Gmelin and Seuring (2014, p.6), it order to have the business mechanism internationally, there should be maintenance of different forms and practices. The business having different proceeding in the relations to outcomes of the previous structures of the company. For example, any company such as the Car manufacturing company scientifically have different rivalry in the market to analyse the business mechanisms and process in the market. In order to have the better business practices in the market, it is essential to have the market penetrations to evaluate the initial structure of the market. The business should follow the needs and derivatives of the market in order to analysis of the industry. International business operations have to deal with the market of different mechanism of competitors and bargainers in the progress of the workforces. The synopsis can be done in order to maintain the sequences of different economic environment exist in the market structure, which can influence the business decision making.
3. Enterprise ability considerations and innovative activities (P4)
The ability of the enterprises in the markets can be determined by the innovative activities that are occurred within the business organisation. As asserted by Brunswicker and Vanhaverbeke (2015, p.1260), the involvement of different innovations in business activities can able to organise the part of business organisation in global formation. The enterprises are considering the innovations during the activities of learning mechanisms within the business. The operations that are situated in the multinational levels should maintain the innovative ideas of the business. As supported by Yamin et al. (2014, p.319), the business formations that include in the modern situations are depicted within the form of innovation in global market sets. This can help the business enterprise to generate the growth structure within the business.
However, there are different companies that are opted the old version of work mechanisms. These companies can face the competitions from the other business enterprises in the international basis. After the competition status, these business enterprises are about to be wind up the situation of holdings in the form of different working conditions in the world. For example, Google is said to be multinational companies, which create the structure of different internal and technological accesses globally (Dimitratos et al. 2014, p.71). If the company Google stops there innovations in the form of different websites and internet surfing, then it may happens that the company create a rivalry to compete with them (www.google.co.uk, 2016).
The business enterprises are totally depending upon the market structure of different environments. As suggested by Verbano et al. (2015, p.1070), the economic environment of a business depends upon the multinational aspect for the business. It is important to recover the need of the market by enhancing the business process in the world. The enhancement of business process leads to have the innovative ideas and discoveries of the business strategies globally. This can help a business enterprise to depict and predict the organisational appearance in the course of business process. There are different innovations that are required to have the business process successful within the market. Therefore, it can be said that the innovations and applications of new business activities are tends to have the creation in the enterprises for business establishment globally.
4. Different means of Communication in global business market (T1)
In the modern context of the global business environments it has been observed that the different means of communication are essential. The different communication methods serve a number of purposes for the different companies and the organisations not only in the context of the UK, but also the different means of Communication in global business market throughout their business operations in the international markets (Wirtz et al. 2015, p.582).
Advertisements are one of the most dominant ways by which the different companies or organisations communicate with their internal and external management. It has been observed that a wide range of effective advertising strategies allow the company to reach specific heights by reaching the different people of the different countries. The multinational companies all around the world have a strong customer support or the customer base not only on the basis of the superior quality goods that are made available, but also by the implementation of the active advertisement strategies that are adopted by the companies. Language is an important issue in this aspect of communicating between the different business markets of the organisations. It has been known that the different countries have different people that have different linguistic cultures (Mishra et al. 2014, p.201). Therefore, in order to reach to the different people of the different countries, the companies are required to have the confidence and the trust of the general people of the different countries. Therefore, having a specific linguistic approach in the specific countries are important in this aspect. Therefore, it has been seen that the approach of the different languages for the companies in the different countries are important strategies for the orgasnaitions to establish their dominance in the global markets.
Cultural issues are important aspect in this category, as the different cultural aesthetics are exhibited by the individuals of the countries in this context. Moreover, it has been seen that the differences in the cultures all around the globe are required to be manifested by th3e companies. For example, the clothing companies are required to have the knowledge of the cultures of the people of the different areas (Klitmøller and Lauring, 2013, p.399). These dresses are required to be prepared and made available according to the religious preferences and the tastes of the general people of the people. This allows the people of the country to have the increased brand loyalty and increased dependence of the people on the companies. This increases the overall marketing sales of the company in terms of the global business environments for the organisations.
From the above studies, it may be implied that the different sources of external influences provide a blissful atmosphere for the internal and external management and the operations of a specific company in the context of the UK. Moreover, in order to thrive in the general markets all around the globe, the different methods of communication are specifically very much needed to be adopted that includes the active advertisements and the improvements in the quality that influences the overall status of the improvement in the infrastructure of the different companies and the organisations in the UK and all around