Innovative global companies : some case studies

Radović-Marković, Mirjana and Vujičić, Slađana (2014) Innovative global companies : some case studies. In: Entrepreneurship : factors affectin small-scale business performance and development - International Conference Employment, Education and Entrepreneurship. Faculty of Business Economics and Entrepreneurship, Belgrade, pp. 403-417. ISBN 978-86-6069-106-6

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Abstract

The world economy is becoming increasingly global and the magnitude of the globalization trend is so large that it is creating complexities for the managers and leaders of the organizations. Globalization brings both benefits and challenges for the organizations and striking a right balance between the two is critical for the organizations to succeed in the global marketplace. This paper aims to study and discuss the significance of globalization for organizations. The study is aimed at the complexities of the global environment and the competitiveness of the organizations. The paper elaborates the types of global organizations, followed by the role of managers and leaders in managing global organizations. The study also includes the role of the international business environment in the context of the global strategy of companies. Finally, an attempt has been made to study the importance of managing a culturally diverse workforce in a global organization. The method of study is primarily a literature survey and the websites of some of the organizations. The study proves the point that globalization is inevitable in the present economic scenario. Hence, companies that can adapt faster to this trend of globalization by adopting suitable management techniques will have a competitive advantage. The organizations need to strike a right balance between the challenges and the benefits of globalization and the four basic areas for striking the right balance are cost, strategy, people and risk.

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