Notesale: Turn your study into money

Document Preview

Extracts from the notes are below, to see the PDF you'll receive please use the links above

---

MS1509 Revision
Globalisation










Identify different definitions of globalization
- 4 basic urges: trade, religion, adventures, conquest
- Globalisation of religions
- Colonialization, imperialism
- Global society, internalisation, cultures coming together, interdependence
...

- The globalisation of markets and production
...
Disney owns
Star Wars, Marvel, Muppets), global consciousness via travel and media,
convergence of some values, Americanisation
- Political: emergence of supranational organisations (UN, NATO, NAFTA, EU), shift
from economic to social and political objectives (EU), issues: sovereignty, power
of USA
- Economic: global markets, brand, advertising, retailing, companies, new
structures, globally organised production systems via technological transfer, offshoring, offshore outsourcing and joint ventures, producer vs
...

- Example: Wal-Mart, buyer-driven change in the world
...
g
...
g
...

2
...

4
...


Establishing a legal framework
Developing economic policies
Building basic services and infrastructure
Protecting the vulnerable
Protecting the environment

Government economic objectives
-

Controlling inflation
Economic growth
Reducing unemployment
Favourable balance of payments
Controlling public borrowing
Stable exchange rates

Types of state intervention
-

Collective provision: eg
...
g
...

Microelectronics (small computers), computing, broadcasting and telecommunications
(internet), optoelectronics (CDs, DVDs)
E-commerce: “… a transaction involving goods, services and information in which the
parties to the transaction do not meet, but interact electronically”
E-commerce and strategic advantage: reduced transaction costs, shortened supply
chain, access to wider markets, access to wider range of information, reduced prices,
ease of access, BUT differences in access to Internet, issues with privacy and security,
differences in policies and legislation, loss of personal interactions, high costs of setting
up, delays in processing orders
E-commerce has both online and offline aspects: virtual transactions BUT real labour and
movement of tangible objects, conventional systems of delivery

• To understand influences of technology on employment patterns and content of work
-

Job losses: low-skilled/easily automated jobs
Job gains: high-skilled, specialist jobs, but also easily automated jobs through the
increase in demand
Occupational polarisation of workforce: division of workforce into highly-skilled, highpaid knowledge workers and low-paid, low-skilled, temporary service workers
Geographical polarisation of workforce: labour-intensive, low-wage work located in lowwage economies, high-skilled work dominating in developed countries
Deskilling/upskilling: technologies enable greater managerial control over simple tasks;
but also greater opportunities for complex and high-skilled jobs
Fragmentation: ICTs present constant demands on employees’ attention leading to
fragmented and interrupted work
Extension and intensification: ICTs enable constant connection to workplaces leading to
longer working days and increase in task numbers
Telework/telecommuting: ICTs enable employees to work regularly off-site
Work and employment shaped in mutual interactions between technologies, people and
organisations

The Cultural Context









Be able to define culture
- “the ideas, customs, and social behaviour of a particular people or society”
Understand the Convergence/Divergence debate
- Convergence: culture is not important, “universality”
- Divergence: practices rooted in specific cultures
- “In business there is a belief that firms in the same sector in all countries are converging
on similar types of technology, strategies, products and forms of business organisation
...

Understand the links between culture and business behaviour
- Edward Hall: high context cultures (slow pace, content less important than relationships,
agreements based on trust) vs
...
g
...
collectivism, femininity vs
...
¨
- Strong cultures associated with ceremonies, symbols, heroes, slogans
...

- EuroDisney as an example of cultural issues, Europe vs
...
) and immediate competitive (factors with direct bearing on an
organisation’s competitive position on the market)
Porter’s Five Forces Model: suppliers, potential entrants, buyers, substitutes, industry
competitors
...

Be aware of the models that support ethical decision-making and their limitations
- According to moral principles or standards: conflicting duties, loyalties or interests
create moral dilemmas requiring decisions to be made; ethical decision-making involves
the ability to discern right from wrong along with the commitment to do what is right
...

Understand core issues relating to ethics
- 6 reasons why business people act unethically: rationalisation, bad role models, peer
pressure, difficulty in defining what is ethical, corporate culture, pressure from superior
- For example, advertising: deceiving the public
...
anti (wrong/illegal, compromises personal beliefs, promotes
government corruption, benefits recipient only, created dependence on corruption,
deceives stockholders)
Understand the activities at the core of Business Ethics
- Compliance based code of ethics: emphasises preventing unlawful behaviour by
increased control and by penalizing wrongdoers
- Integrity based code of ethics: defines the organisation’s guiding values and seeks to
create an environment that supports ethically sound behaviour and stressed a shared
accountability among employees
- Truthfulness, authenticity, respect, equity, social responsibility
...

Examine the views on responsibility
- Shareholder view: maximising owner wealth
- Stakeholder view: accountability towards all stakeholders
Define CSR
- CSR highlights ethical issues in business by defining those groups to whom the company
and its representatives are responsible and those areas for which responsibility is taken
...
Allows sustainable growth and long-term success
...

Innovation linked to changes and growth in particular organisations
...

More specifically, innovation linked to strategic advantage on the level of individual
organisation, national economy and society
...
’
R&D: organisational function dealing with innovation
Design: translation of the developed idea into the final product for the customer
Entrepreneurship: identifying and starting business ventures

• Be able to identify different types of innovations
-

-

-

Product: development of new/improved products
Process: development of new processes/new ways of doing things – eg
...
g
...

Marketing: development of new marketing strategies
 Using original content to further brand awareness on global level, consistent
storytelling across different social media and advertising channels, engaging with
customers as audiences
...
g
...
g
...
g
...

Types of entrepreneurs: lifestyle (independence through self-employment), growth
(wealth, influence and reputation) and innovative (creation of something new)

-

Models: craftsman (focus on an own product), opportunist (focus on market),
organisation builder (change within organisation)

• Understand the link between innovation, organisational contexts (structures, strategies and
cultures) and broader institutions and systems (economy, state policy and legislation, local and
global culture, technology)
-

-

-

-

Technology-push: known technologies are used to develop innovative products and
processes
Demand-pull: development of new products and processes as an effect of market
demand rather than technological advances
In practice, innovation happens at the intersection of changes in technology, market
demands, organisations, management structures and marketing strategies
Components of an innovative organisation: shared vision, leadership and the will to
innovate, appropriate structure, key individuals, effective team working, highinvolvement innovation, creative climate, external focus
State interventions: procurement (e
...
army and health services), subsidies
(investments, grants, tax concessions), education and training, patents and licensing (‘a
patent is a legal device that enables the holder to maintain a monopoly in an invention
for a stated period, usually 20 years’), restrictive and enabling laws, import controls
Problems: over-reliance on state funding, lack of specialist knowledge by policy-makers,
conflict between intervention and freedom, bureaucratic interference, ethical issues
National systems of innovation comprise a number of actors and institutions that
collectively operate to determine the nature of innovation (state, banks, firms and
universities)
...

However, large types of investments seem to favour larger organisations
...

‘First-to-the-market’ strategy: focus on R&D and technical leadership; beneficial to be
first but not always the most successful
‘Follower’ strategies: cheaper, less risky, ready markets
The more successful innovations are those that are integrated, with product, process
and organisational change occurring together

---