CULTURAL ISSUES IN MANAGEMENT

Cultural Issues in Management

Cultural Issues in Management

Introduction

The term globalization is intended to convey a specific idea and a particular concept about the workings of modern capitalism and about the nature of international relations that animates this perspective on capitalism and its functioning. At its simplest, the concept of globalization is captured in the metaphor of the global village. Inherent in this concept is the idea that technological innovations, the availability of affordable travel, the flow of global capital, and the ubiquity of the mass media have resulted in a world that is significantly interconnected; it is thought that the result is a “hybridizing” cultural mixture that gives rise to innovative cultural forms and an equalizing of opportunities for trade, travel, and other forms of cultural exchange among all people across the globe (Tandon, 2004).

Discussion

Differences because of Globalization

It has been witnessed that the most successful globalized businesses are aggressively building their global strategies on different themes, for instance, companies increasing their market access since after the market of China, Eastern and Central Europe have been exposed. As the market deregulation increased the marketing opportunities in terms of financial market and privatization of state owned utilities. Due to the advent of modern technology, more globally standardized products and services have been introduced and on the basis of that sensitive product areas also been introduced like food and health. Because of the globalized standards common technology has been introduced in many markets, especially in terms of the information technology because it saves time and money (Pfau, n.d., pp. 1-8). Similarly, with the passage of time, competition among the same organization witnessed a new hype because of the greater interdependence markets, due to which most of big giants started treating the world as a one market.

Management and Marketing

Management of a global expansion requires the ability to keep up with global politics, domestic associations, trends, and events. Regional politics can often play a significant role in the ability to penetrate foreign markets. This requires the management to have a diverse staff that can communicate and understand several marketing channels and cultures. Global businesses franchises require a lot of resources to manage. An example of this is Manchester United. This organization is a global brand that has penetrated all parts of the globe. This requires the organization to effectively manage millions of dollars to maintain its presence.

As stated previously, global market expansion for business franchises and other related entities is the expansion of the organization's reach into foreign markets. Global market expansion requires a significant amount of effort to be successful. This requires a keen sense of what's going on globally with money, foreign politics, and other trends that affect the business. It requires a sophisticated approach that incorporates cross-cultural management of money, players, and the marketing message. Similarly, the cross-cultural management and marketing of some of the most well-know global brands like Nike, adidas, and Manchester United; go a hand-in-hand with global athletes likes Michael Jordan, David Beckham, and ...