GLOBAL BUSINESS STRATEGY

Global Business Strategy

Global Business Strategy

Introduction

Globalism can be seen as the creation and expansion of economic and social connections among people and organisations around the world. In fact, history reveals that the different populations or cultures have always interacted and established economic and cultural connections for centuries (Michael et al., 2012). During middle ages, merchants and travellers exchanged goods and ideas throughout different regions including Europe, North Africa, Middle East and Asia. However, in recent decades, the concept of Globalism has advanced at an increasingly swift pace. Internet and business are recognised as major forces in this development. In fact internet opened new doors of communications and expansion of businesses allowed people to enter different markets.

It is obvious that role of business strategy is very crucial for the success of any business in today's changing business environment. In fact, business strategy can be explained as a process of developing overall business direction that enables a business to prepare long-term plans in order to achieve specific business goals. Similarly, the social business strategy also plays a vital role to direct any organization to run its business using social media and achieve the desired goals. No doubt, the role of technology cannot be avoided from the success of any business as implementation of information technology has brought many benefits to businesses. The emergence of social media has now changed the way business is conducted in modern time.

Research Methodology

In this research study the researcher have used a qualitative phenomenological design, which was an appropriate approach for an exploratory study based on the perceptions of Global Business Strategy. Phenomenology is the totality of an altruism experience, which the study seeks to illustrate. Phenomenology enables the observing and understanding of participants' lived experiences of phenomena. The socio-technical systems theory is the foundation of the study.

Population and Sampling of the Research Study

Researchers suggested that in a qualitative research study, the participants for the research study are selected depending on the understandings of the participants' central phenomenon. It is also a fact that the use of descriptive interviews with at least 10 participants having direct experience of the target phenomenon. The population used in the study is businesses at different locations. Data saturation was reached at 23 participants and a sample of 23 managers is selected from the population (Creswell, 2005).

The research participants consisted of employees and managers of different business organisations with diverse backgrounds. According to Creswell (2005), data collection in qualitative research is collected from a smaller sample using general questions answered with narratives. Participants were selected based on experience to obtain an understanding of the phenomenon. The respondents were from diverse educational and cultural background with vast experience in leadership and mentoring. The research participants represented different organizational layers yet share similar experiences.

Data Collection for the Research Study

Qualitative research interviews are suitable for examining topics in which meaning needs to be explored (Cassell & Simon, 2004). Data was collected interviewing research participants until saturation ...