United Nations Millennium Development Goals and their Implications for Corporates
What are the United Nations Millennium Development Goals? The United Nations (UN) Millennium Development goals (MDGs) are a set of goals that were signed into an agreement with the member countries of the UN related to human development, eradication of poverty, providing access to basic services like food, shelter, and clean water to the underprivileged […]
What is Auditing, Its Types, Purposes, and Some Current Issues
What is Auditing? Auditing is the process of assessment and ascertaining of financial, operational, and strategic goals and processes in organizations to determine whether they are in compliance with the stated principles in addition to them being in conformity with organizational and more importantly, regulatory requirements. Indeed, among the objectives of auditing as mentioned above, […]
Introduction to Media – A Brief History
We often hear the term fourth estate being applied to the media. The term refers to the four pillars of democracy and the media is the fourth pillar and an important one at that. Ever since many countries adopted democratic norms of governance, a vibrant and a free media were thought to be the necessary […]
Why Selling Online is Expensive?
In many countries across the world, small retailers are against e-commerce websites. This is because they believe that these websites use unfair trade practices like predatory pricing in order to put them out of business. However, e-commerce websites refute this charge. They often encourage small retailers to sell on their websites. After all, in theory […]
Advocacy Groups and Corporate Social Responsibility (CSR)
We have seen how corporations need to embrace CSR as a paradigm if the challenges of the 21st century have to be met. We have also examined the role of the media in championing CSR. In this article, we look at how Advocacy Groups and Pressure Groups like Greenpeace and Media Lens along with other […]
The most important and widest degree of business objective is termed as the vision of the organization. This is a declaration of large ambition. It concerns with the position that the organization expects to achieve in the future. The vision is related to the strategic intent of the organization. It is an effort by managers to recognize the space between the existing situation of the organization and required position to be attained in the future. It is maintained that the vision of the organization has to be connected to core competences and to potential environmental conditions.
An organization intending to have a global business in requires a transnational strategy. Such a strategy demands a global vision. This entails that the entire world is considered as a possible market place. Competition is looked up on as a worldwide feature. Function are to be are constituted to take advantage global benefits. Operations have to be managed on a global scale. In addition, possibly most prominently, the organization has to possess a transnational attitude, culture and view point.
It can be seen that a global strategy is, to a considerable degree, a business attitude or mode of thinking possible in an organization. Consequently it is critical to comprehend about the level to which a business is adjusted to have a global perspective. It can be claimed that the scheme of values of an organization, which will comprise of its past and growth, its techniques and routines, its foresight and organizational culture will form managerial viewpoint in the direction global strategy.
A valuable structure for classifying the philosophy of an organization is provided by the EPRG matrix. As per this matrix philosophy of an organization will belong to one of the four groups which are as below
Each one of these above mentioned philosophies have connotations for the probable strategy of the business implementing it. It is the responsibility of the Manager to evaluate the principal philosophy of the business. The manager has to find out the degree to which it is to be equipped to sustain and promote a worldwide attitude to business.
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