Saturday, September 7, 2019
Issues in Global Businesses and Consultancies Essay
Issues in Global Businesses and Consultancies - Essay Example The underlying transactions assume various forms and as such, they relate to each other. Those businesses that undertake trade involving imports and exports as well as those that undertake foreign direct investment are referred to as primary global businesses (Hill 2008). Usually, foreign direct investments businesses exist in various forms, that is; subsidiaries, which are owned wholly; and joint ventures. Other forms of global businesses and consultancies include licensing, contract management and franchising global businesses. Just as the definition holds out, the key tenet associated with global businesses is satisfaction. A global business is just like any other local business since the basic principles of a business apply. The difference comes from the application of thaw global business, its complexity as well as the intensity. These aspects vary substantially (Hill 2008). For a global business to operate across several borders, an organization ought to ensure that it adheres to international standards and laws and as such, the organization must incorporate them into their planning process and decision making. However, global businesses and consultancies do experience challenges arising out of the environmental factors. Since these businesses operate across national borders, there are some constraints and some frequent conflicts that are brought about by the different laws, societies as well as cultures (Hill 2008). A good example of a global business and consultancy is GlaxoSmithKline, a British multinational business dealing with pharmaceuticals, vaccines, biologics as well as consumer healthcare. Thesis Statement With reference to GlaxoSmithKline Company, this paper will critically analyze the issues facing global businesses and consultancies and... Global businesses, particularly those operating within the pharmaceutical industry such as GlaxoSmithKline Company do experience both internal issues as well as issues within the industry. Global businesses and consultancies do experience challenges arising out of the environmental factors. Since these businesses operate across national borders, there are some constraints and some frequent conflicts that are brought about by the different laws, societies as well as cultures. Such issues include; new consumers in emerging markets, switching to more specialized products and services, salaries and wages of the employees of the global business, growth of the pertinent power, limited number of blockbusters and smaller budgets, changing relationships with health care practitioners, the digital World, nature of conversations as well as issues associate with inflation. A Global business, regardless of the industry it operates within, must establish ways to contain issues as if left to the su rface, a company may end fatally. They may seem insignificant but according to the recent research studies, it has been found that indeed they have adverse effects.