Challenges Facing Global Managers
Challenges that managers will face in the future may not only be with their existing local management responsibilities, but will probably include managing business abroad. Not only will change in the structure of the organization will occur, but also the roles and responsibilities of people within the organizations. The form of change which will be applied depends on many factors such as management, skills and expertise, and resources. The companies might focus on integration, disintegration, or merging both of them. Companies will be faced with many challenges and will need to optimize their organizational objectives.
The reason why the organizations may expand into the global market is the firm's existing market has been saturated. A good example of a saturated U.S. market would be Coca-Cola. Coke wanted to increase their market and expanded into the global market. As such, Coke had to adapt managing globally. Expanding globally, will force organizations to adapt with various environments, geographical separation, cultural and national differences in business practices.
These are just a few challenges global managers will be facing in the future (Hallin).
Today, as we live in a global world, many believe increasing our ability to access to foreign markets and the increasing number of worldwide mergers, acquisitions, and joint ventures are forces that will influence companies to expand their businesses into international markets.
As we have recognized in our marketing classes the four P's of marketing are significant to include in strategic planning. The definition of "Place" in the marketing mix is where you can expect to find your customers. As such, one of the most important problems that the companies will face when pursing global expansion is the selection of the best location for global expansion. There are two stages of global expansion. First, the companies must...