Globalization Changes the Way We Run a Business Essay
It is quite obvious that globalization changes some of the rules of the game. This is becoming more and more noticeable in such areas as risk evaluation, sales, etc., but also in international management. It is becoming clear that globalization changes the way we run a business. In this sense, if we look at the four functions of management, we will better understand what has actually changed. In terms of planning, the factors we need to consider are much broader. In a non-global architecture, each factor acted solitarily, while in a global business environment, we need to consider how these factors interconnect. If we take an example from Bank of America, planning in a global environment needs to consider possible risk scenarios that may occur in the next planned stage, so that the plan actually has something in common with reality. As for organizing, it is obvious that, in a global system, there are several issues to be considered.
Organizing the business locally, at US level, for example, also needs to take into consideration actions that may occur in Europe, on the currency or interest rate market, etc. Leading seems to be the most interesting component of management in a global
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