Leading and Managing in Global Environment Essay Singapore

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Leading and Managing in Global Environment Essay 

In the global environment, there is a challenge in front of the management to track the change in demands due to the diverse and complex environment of business. As globalization brought the countries together for trade there, on the other hand, the competition increased.

Business became more susceptible to externalities working in the global environment. Because of fewer boundaries in trade, there is different sort of uncertainties faced by the business so the task of managers had increased.

The managers have to handle the change in the technology and the management of the right inputs without the waste of any resources. There are lots of stakeholders with various demand and the ends should be met by good management and leadership.

In the changing demographic scenarios and the increasing demands, making balance in the demand and supply is a tedious task. There is a situation that involves a multicultural environment with a difference in demographic, socio-economic and political variations.

Keeping all difference in the mind and the balance among the stakeholders, suppliers, customers, all have to be handled by the managers of the respective organizations. It requires sound leadership which can handle all the mentioned challenges. There is a need to know about the factors which impact the global environment and how they need to be tackled.

Factors which impact the global environment

• Regionalism is an important factor in the global environment and the managers should adopt make the regional specific policies with due care of the interaction of that region with the global environment.
• There are different stakeholders in any business. Managers and leaders should take care of all direct and indirect stakeholders. Stakeholders are not only customers, suppliers, distributors but also the economic and socio-political policies of the specific region which affects the global environment.
• Communication is another important factor that impacts the business and in a multicultural environment, it is crucial as it plays a key role in business management.
• The need for technological advancement with the demand of the global business is also necessary to be managed. There should be farsightedness to predict the durability of the particular technology.
• Leaders and managers need to make all odds favorable for the business and for that all externalities should be taken care of.
• Good leadership and effective management increase the credibility of the organization. As there is increased competition in the global business there should be a sense of confidence in doing business with that organization. And that can be done only by good management and good leaders.
• There is even the need for the training and increment in the knowhow as there is a lot of competition at the managerial level also. Information in the global scene plays an important role and managers and leaders should understand this demand.

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• Cultural differences can also play a role as a challenge and it depends on the leadership and management ability that how this factor can be effectively tackled.
• Cohesiveness and teamwork are the traits that should be created in the employees. There is also the need for continuous motivation as the global competitive scenario increases the stress of performing well.
• Long term and short term goals with farsightedness ability should be tackled in prior.
• Leaders should respect the individuality and then should focus on the collectiveness.
• The uncertainties in the global environment can be analyzed properly and there should be clear avoidance of the nuisances by them. The proper analysis and research are required for timely actions.
• Competition is a very impactful factor that needs to be managed in a healthy way. By keeping low prices with quality goods and services, it is a challenge for the management to provide their best strategies to deal with it.
• The environment is also an increasing concern for the global world. Leaders and managers should definitely take proper steps to minimize waste and adopt environmental-friendly techniques for the business.

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