identifies the most critical issue facing management as we progress through the second decade of the 21st century?

Course: MGMT 630 9043 Organizational Theory and Behavior (2182)

Date: 2/18/2018

Management generally describes the leadership of a corporation, an organization, or even an institution. Interestingly though, Mmanagers undergo a lot of pressure, challenges, and stress while carrying out their activities of running the company (Sampson et al., 2006). Some of these challenges include; developing a strategy which has to be well thought of and aligned with the business. If the strategies, which are usually long- term, do not arrive well, then the business is at risk of losing business or even leading to poor performance. Comment by Kristen Wood: Make sure you do a full indent for each paragraph. Comment by Kristen Wood: Before you can use “et al” you have to spell out the last names of all the authors first. For more information on how to use et al, please see: https://owl.english.purdue.edu/owl/resource/560/03/ Comment by Kristen Wood: I suggest deleting this part of the sentence as it is a little unclear and vague. Comment by Kristen Wood: What do you mean by this? This is unclear, please revise for clarity purposes.

In the 21st century, tThe most critical issue management faces that is being faced by management in twenty-first century is global management (Feldman & Thomas, 1992). In today’s world, the success of a businesses is not defined within just one country or rather within the nationality boundaries but by the extent of globalization that the business has spread into. Most top managers were very optimistic when it came to earning revenues from other states other than which the businesses are residenttheir own. These managers also were very clear on the issue of human capital being properly organized in order to achieve global prosperity. Globalization is a very key feature in managing a business and it cannot afford to be ignored at this age and date. Comment by Kristen Wood: This sentence is written in passive voice. Make sure to write in active voice. Please see my edits on how to make this sentence in active voice. For more information on active voice, please see: https://writing.wisc.edu/Handbook/CCS_activevoice.html Comment by Kristen Wood: This part of the sentence is a little unclear, please revise for clarity purposes. Comment by Kristen Wood: Do you mean businesses cannot afford to ignore this?

Most companies actually increased their turnovers tremendously once they made a decision of entering entered markets in other countries and other continents. For instance,; Coca-Cola Company was started in the United States of America (U.S.), yet it the U.S. is not even their largest market. The company only gets 30% of its revenue in the United States of AmericaU.S. with the rest of the 70% coming from other countries. Other companies like Toyota only increased their turnovers when they decided to globalize their operations of which it is quite interesting because at, this age, there is no country that lacks a Toyota motor vehicle on their roads. With globalization, managers have to look into extremely new dimensions of carrying out the company’s activities especially in the new countries. Comment by Kristen Wood: Please be more specific. Their turnovers of what exactly? Comment by Kristen Wood: This is a run-on sentence, please revise. For more information on how to fix run-on sentences, please see: https://academicguides.waldenu.edu/writingcenter/grammar/runonsentences

Globalization is the most critical aspect because of foreign competition which basically is a business rivalry between local businesses that serve national consumers and multinational businesses which serve international consumers (Shocker, Srivastava & Ruekert, 1994). There are many effects of globalization that arise from foreign rivalry which include; wiping out of local businesses by new companies who most of the times are multinationals that offer products at cheaper prices, Offering of a wider variety of products which consumers prefer hence they begin to shop in the multinationals, use of better-advanced technology which makes their operations more efficient which ideally means that the small businesses lose their customer base since they do not have the financial power or even as much capital as the multinationals. Comment by Kristen Wood: This is a run-on sentence, please revise.

It is very depressing for an economy to see its small and medium-sized enterprises being forced out of the market by multinational companies. However, this does not have to necessarily be the case if only the management can devise good strategies on how to deal with globalization, particularly competition, culture change, understanding the market dynamisms, human resource management, and technology. Comment by Kristen Wood: This is a run-on sentence, please revise.

It is important for managers to develop not just any other strategy but a global strategy since they are not only dealing with a national problem but an international one. The strategy has to include; a marketing strategy whereby they have to carry out actual research in regards to the market so that they can know precisely how the new markets are different from the market that they currently serve, the type of products the new market needs, learn the customers behavior through competitors’ products and basically an intensive research about the market so that they know what exactly to deliver. The management also has to have in place a strategy in place concerning the management of human resources on a global level not just on the local level., pPeople are essential in the development of a business and cannot just be overlooked. Comment by Kristen Wood: This is a run-on sentence, please revise.

Research and dDevelopment not only on the market will be very necessary since it will enable the businesses to approach the new markets from an informed point rather than just approaching the market without any information. Research and development will apply to the type of products and services to be offered, culture, the industry in the new markets, legislations which also include taxes, tariffs, licenses and business registration. It can be quite costly to carry out research but it is worthwhile in the long run. In regards to development, it can be quite beneficial to test the product from the prototype before making the final product because different markets can be quite different. For instance,; there are markets that buy first-class goods while there are those that find first-class goods to be very expensive and hence they buy second-class products. Comment by Kristen Wood: This sentence is unclear. Please fix the structure of the sentence. For more information on sentence structure, please see: https://owl.english.purdue.edu/engagement/2/2/62/ Comment by Kristen Wood: This is a run-on sentence, please revise. Comment by Kristen Wood: This sentence is unclear, please revise. Please make the sentence concise in order to get your point across.

Culture is a very significant system in any business., it Culture refers to a way in which institutions, businesses, or people carry out their activities, their beliefs, and norms. A mention of Gglobalization goes hand- in- hand with culture since the clients and customers are so different in that it becomes quite a task to try and understand the entire market. However, tThe issue is, however, comes in when the business has to understand who it is delivering toits’ audience and hence be ablehow to deliver in a way that is culturally accepted by that audience. Comment by Kristen Wood: Please make this sentence more concise.

Globalization also means that the human resources will be from different countries hence the importance of management to learn how to come up with a strategy that will enable different people; employees, foreign partners, customers, vendors, managers and any other stakeholders to interact well and produce the best. For this to actually happen, there has to be cross-cultural management which will seek to expand management of culture locally to an international level. Human beings most at times can be very selfish and ideally, everyone views their own culture is more superior to any culture, an aspect that can cause conflicts amongst different shareholders. However, with cross-cultural management, it is easier to manage and improve interactions between different stakeholders. Comment by Kristen Wood: Please break this into two sentences in order to make this thought more concise.

Relationships are quite significant when looking into cultures whereby, different communities differ in preferences from others. For instance,; there are countries whose people prefer to be identified as a society and not an individual, especially those that had originally adopted communism or socialism. On the other hand, there are those who would prefer to be addressed as individuals, such as Americans. Different aspects of relationship also give management insights of different people, for example; it is easy for people from individualistic societies to make decisions than those who prefer to be identified as a society. Therefore, it is important for management to have a strategy that incorporates all those aspects. Comment by Kristen Wood: This sentence is a little vague. Please be more specific if possible. Comment by Kristen Wood: This part of the sentence is unclear, please revise.

In conclusion, globalization as a very critical issue that management faces in the twenty-first century has quite a number of aspects associated with it with culture and foreign competition being the most important (Cheese P, 2007). Therefore, managers should develop global approaches which will enable them to be able to come up with strategies that will see their companies survive in the industry for a long time and yet performing well despite challenges. Comment by Kristen Wood: This is a run-on sentence, please revise. Comment by Kristen Wood: This is a run-on sentence, please revise.

References Comment by Kristen Wood: Make sure you format your references in APA style. The references should not be centered on the page. They should also be in alphabetical order. For more information on how to format these references in APA style, please see: https://owl.english.purdue.edu/owl/resource/560/07/

Sampson, H. A., Muñoz-Furlong, A., Campbell, R. L., Adkinson, N. F., Bock, S. A., Branum, A., ... & Gidudu, J. (2006). Second symposium on the definition and management of anaphylaxis: summary report—Second National Institute of Allergy and Infectious Disease/Food Allergy and Anaphylaxis Network symposium. Journal of Allergy and Clinical Immunology, 117(2), 391-397.

Feldman, D. C., & Thomas, D. C. (1992). Career management issues facing expatriates. Journal of international business studies, 23(2), 271-293.

Shocker, A. D., Srivastava, R. K., & Ruekert, R. W. (1994). Challenges and opportunities facing brand management: An introduction to the special issue. Journal of marketing research, 31(2), 149-158.

Cheese, P. (2007). The talent powered organization: Strategies for globalization, talent management and high performance. Kogan Page Publishers.