Question 1 (3.2)
Paralysis by analysis is one of the key issues for the large organizations having huge source of data in order to evaluate. Thus, it adversely affect the decision making process of the organizations. Moreover, more diversified information will further leas to increase in the complexities for the organization. According to Bensoussan and Fleisher, there are various tools and techniques to evaluate the organizational strategy without being paralyzed by analysis. These include BCG analysis (Bensoussan and Fleisher 2012). This tool helps in determining the effectiveness of the portfolio of the products and services being offered by the organization. Another tool stated by them is the competitor analysis. This tool helps in determining the insights about the competitors in the market. Effective competitors’ analysis helps in gaining competitive advantage over others in the market. According to Giorgi, emotional intelligence of the organizations can also be considered for the analysis (Giorgi 2013). It helps in identifying the differences between the particular organizations with their competitors. Thus, the market analysis becomes more effective when the emotional intelligence of the competitors can be evaluated. In addition, the competencies of the employees can also be determined with the help of this tool. It helps in enhancing the organizational intelligence.
Question 2 (4.3)
According to Lakhani, Lifshitz-Assaf and Tushman, organization design is well connected with the generation of innovative ideas in the organization. According to them, the more flexible will be the organizational design, the more will be the level of involvement and motivation of the employees. Thus, it will help in generating more innovative idea from them. Effective organization design also helps in having the accurate decision making process due to the reason that it helps in reducing the gap between the internal stakeholders in the organizations. Effective communication process also gets enhanced due to efficient organizational process. According to Foss, Lyngsie and Zahra, effective organizational design helps in exploiting the external knowledge and opportunities. It enables the organization to have the access of diversified information which enhances their competitiveness in the global market. In the present era of globalization, business organizations are looking out for global markets and reaching out to new regions in order to expand their existing customer base. Thus, external knowledge is important to have the idea about the diversified taste and preference pattern of the customers in the international market. Effective organizational design will enable the organizations in having the effective communication process among all the stakeholders associated with them. Thus, the knowledge sharing process will further get enhanced.
Question 3 (5.2)
According to Van den Berghe, corporate governance of the organizations depends on the effectiveness of the board of directors (Van den Berghe 2012). The more flexible and independent the directors will be, the more will be their effectiveness. According to him, the director should be free of any internal external influence and they should not have any conflict of interest. Any types of conflict of interest involves with the directors will further degrade the effectiveness and neutrality of the decision making process of the organization. Thus, independent members in the board are required due to the reason that they will implement unbiased ideas and decisions. According to Burke and Mattis, gender diversity is important for the effective board of directors. It helps in enhancing the representation of both the genders n the organization. With having more and equal representation from both the genders, the ideas being generated will be more vast and diversified. In addition, the goodwill and reputation of the organization in the industry will be enhanced due to implementation of gender diversity in the organization. According to them, more gender diversity in the board of director also helps in generating more new and external ideas which will eventually helps the organization in having more options in case of any issues.
Question 4 (6.4)
According to Godos-Diez, Fernandez-Gago, Cabeza-Garcia and Martinez-Campillo, the implementation of corporate social responsibility in the organizations are being determined or influenced by the ideas and approach being possessed by the internal stakeholders (Godos-Diez et al. 2014). This includes the CEO who is responsible for effective implementation of the corporate social responsibility. The principles followed by the CEO determine the level and effectiveness of implementation of the social responsibilities of the organization. If the CEO is more followers of ethical leadership styles, then it can be assumed that the organization will implement extensive corporate social responsibilities. On the other hand, if the CEO is economy oriented, then the organization may prefer more of their profitability than any other aspects. According to Edmas, implementing effective social activities will enhance the goodwill of the organization in the market (Edmas 2012). In addition, as a future CEO, I will have the guidance of the strategies for implementing social responsibilities. It will motivate me to further enhance the existing policies regarding the social responsibilities. On the other hand, if the existing policies are not that effective, then I as a future CEO will not have the motivation to implement something more effective.
Question 5 (1.3)
As our organization is operating in the field of information technology, thus, macro environment including technology, political and social environment is having the most influence in the business activities of the organization. Introduction of newer technologies in the market and periodic up gradation of the existing technologies is much important to survive in this intensely competitive market. Social factors include the taste and preference pattern of the customers is also a key determinant for organizational performance. According to Dalken, in the present business scenario of information technology, competitive forces are equally relevant (Dalken 2014). Customers are having more bargaining power due to the fact that more and more rivals companies are entering in the market. However, the threat of new entrant is low due to the presence of huge investment cost in the initial stage. The lifecycle of this industry is further enhancing with the development of newer technologies in the market. More and more new technologies in the market are taking the place of the older ones. According to Oke, Walumbwa and Myers, innovation is the most important factor to survive in the present business scenario of information technologies. The more innovative will be the product of the organization, the more it will gain competitive advantage in the market. It will help to stay ahead in the competition.
Question 6 (3.4)
According to Thelen, varieties of capitalism matters in choosing the recommended market for the business organizations in the sector of information technology (Thelen 2012). According to him, market is being controlled by the governments in some countries, whereas it is be liberated and made opened for the capitalists. For the industries in the information technology sector, liberal market is more favorable for the business operations due to the reason that it will not be regulated by the government. Moreover, the organization can expand their market and implement strategies on their own. According to Gilpin, regulated market poses various barriers for the organizations due to the reason that all the decision making process of the organization will be influenced by the government regulations (Gilpin 2016). Liberal market will further help in competing in the market with having effective implementation of pricing strategies. Gilpin also noted that liberal market provide more opportunities for the business organizations in terms of having the freedom of operating in the market than that in the regulated market. In the present situation, more and more countries are opting for the liberation of their market. Thus, operating in the liberal market will further enhance the opportunity of making foray in other markets also.
Question 7 (4.3)
According to Bakan and Dogan, it is the responsibility of the government to drive the creation of clusters by providing the political, legal and infrastructure wise support. It will help in enhancing the competitiveness of the domestic industries. It will help the domestic industries in gaining the foothold in the international market. Skilled employees required for the information technology business are being made available in the Australian market. The more contribution from the government in improving the technological infrastructure of the country will help to improve the effectiveness of the organizations in the information technologies. According to McDonald and Thorpe, it is being said that effective organizational strategy is important for enhancing the competitiveness of the organization. The technological readiness of the organizations is also important due to the reason that it will help to cope up with the rapid change in the technology in the market and industry. It is the responsibility of both the government and the business organizations to improve the effectiveness of the geographical clusters. Government can also helps in enhancing the flow of the resources required for the organizations to survive in the market. It will further help the domestic organizations to foray in to the global market.
Question 8 (6.2)
Business risks will always be their associated with the organizations. In this era of globalization, global economic crisis is also one of the most critical crises for the contemporary business organizations. Thus, it is important for the organizations to have the contingency plans to overcome the challenges. According to Castells, Caraca and Cardoso, innovations is one of the most prominent solution to overcome the economic crisis (Castells et al. 2012). In the sector of information technology, organizations should consider developing more sustainable technologies which will not get affected due to any crisis. According to Lien and Li, another strategy that can be implemented to counter the economic crisis is the diversification strategy (Lien and Li 2013). With the help of diversification strategy, the risk involved with a single line of business will get divided among various business lines. Thus, the loss made by a sector due to economic crisis can get adjusted with the profit from another sector. This will help to reduce the effects of the economic crisis in the organization. Diversification also enables the organization in catering different customer segments in various regions around the world. Thus, the market size will also get enhanced.
Question 9 (3.4)
According to Thelen, varieties of capitalism matters in choosing the recommended market for the business organizations in the sector of information technology (Thelen 2012). According to him, market is being controlled by the governments in some countries, whereas it is be liberated and made opened for the capitalists. For the industries in the information technology sector, liberal market is more favorable for the business operations due to the reason that it will not be regulated by the government. Moreover, the organization can expand their market and implement strategies on their own. According to Gilpin, regulated market poses various barriers for the organizations due to the reason that all the decision making process of the organization will be influenced by the government regulations (Gilpin 2016). Liberal market will further help in competing in the market with having effective implementation of pricing strategies. Gilpin also noted that liberal market provide more opportunities for the business organizations in terms of having the freedom of operating in the market than that in the regulated market. In the present situation, more and more countries are opting for the liberation of their market. Thus, operating in the liberal market will further enhance the opportunity of making foray in other markets also.
Question 10 (2.2)
According to the blog and the video it can be said cultural stereotyping is much relevant in the present business scenario. In our organization, it mainly creates barriers in maintaining the diversity in the organization. It is being seen by me that due to the implementation of diversity in the workforce, employees from various social backgrounds are being appointed in the organization. However, the attitude of the home country nationals towards the migrated employees is not favorable. According to the home country employees, migrated employees are inferior to them and thus they should not have the equal opportunity in the organization. Thus, the productivity in the organization is negatively affected. According to Barak, one of the key issues related to the barriers of diversified workforce is the stereotyping (Barak 2016). According to Goldman and Cropanzano, equality and fairness is not the same thing. According to them, initiation of fairness in the organizations may lead to inequality and vice versa (Goldman and Cropanzano 2015). Thus, it should not be considered that equality of the employees will lead to fairness in the organization.
References:
Bensoussan, B.E. and Fleisher, C.S., 2012. Analysis without paralysis: 12 tools to make better strategic decisions. FT Press.
Giorgi, G., 2013. Organizational emotional intelligence: development of a model. International Journal of Organizational Analysis, 21(1), pp.4-18.
Lakhani, K.R., Lifshitz-Assaf, H. and Tushman, M., 2013. Open innovation and organizational boundaries: task decomposition, knowledge distribution and the locus of innovation. Handbook of economic organization: Integrating economic and organizational theory, pp.355-382.
Foss, N.J., Lyngsie, J. and Zahra, S.A., 2013. The role of external knowledge sources and organizational design in the process of opportunity exploitation. Strategic Management Journal, 34(12), pp.1453-1471.
Van den Berghe, L., 2012. International standardisation of good corporate governance: Best practices for the board of directors. Springer Science & Business Media.
Burke, R.J. and Mattis, M.C. eds., 2013. Women on corporate boards of directors: International challenges and opportunities (Vol. 14). Springer Science & Business Media.
Godos-Díez, J.L., Fernández-Gago, R., Cabeza-García, L. and Martínez-Campillo, A., 2014. Determinants of CSR practices: analysis of the influence of ownership and the management profile mediating effect. Spanish Journal of Finance and Accounting/Revista Española de Financiación Y Contabilidad, 43(1), pp.47-68.
Edmans, A., 2012. The link between job satisfaction and firm value, with implications for corporate social responsibility. The Academy of Management Perspectives, 26(4), pp.1-19.
Dälken, F., 2014. Are porter’s five competitive forces still applicable? a critical examination concerning the relevance for today’s business (Bachelor’s thesis, University of Twente).
Oke, A., Walumbwa, F.O. and Myers, A., 2012. Innovation strategy, human resource policy, and firms’ revenue growth: The roles of environmental uncertainty and innovation performance. Decision Sciences, 43(2), pp.273-302.
Thelen, K., 2012. Varieties of capitalism: Trajectories of liberalization and the new politics of social solidarity. Annual Review of Political Science, 15, pp.137-159.
Gilpin, R., 2016. The political economy of international relations. Princeton University Press.
Bakan, I. and Do?an, ?.F., 2012. Competitiveness of the industries based on the porter’s diamond model: An empirical study. International Journal of Research and Reviews in Applied Sciences, 11(3), pp.441-455.
McDonald, F. and Thorpe, R. eds., 2016. Organizational strategy and technological adaptation to global change. Springer.
Castells, M., Caraça, J. and Cardoso, G. eds., 2012. Aftermath: The cultures of the economic crisis. Oxford University Press.
Lien, Y.C. and Li, S., 2013. Does diversification add firm value in emerging economies? Effect of corporate governance. Journal of Business Research, 66(12), pp.2425-2430.
Thelen, K., 2012. Varieties of capitalism: Trajectories of liberalization and the new politics of social solidarity. Annual Review of Political Science, 15, pp.137-159.
Gilpin, R., 2016. The political economy of international relations. Princeton University Press.
Barak, M.E.M., 2016. Managing diversity: Toward a globally inclusive workplace. Sage Publications.
Goldman, B. and Cropanzano, R., 2015. “Justice” and “fairness” are not the same thing. Journal of Organizational Behavior, 36(2), pp.313-318.
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