Honest Communication And Regulation Of Global Business Essay

Honest Communication And Regulation Of Global Business - Essay Example By its very nature, communication within a global context involves a vast range of activities, which must add up to determine the success levels or nature of challenges to be encountered in the course of doing business (Adekola & Sergi, 2007). Communication entails a thorough knowledge of the competitors, the interests of the clientele, cultural dynamics, market forces and other issues that relate to the efficiency of the business. Communication promotes the adoption of flexible strategies that are responsive to the unique situations and realities to be encountered at the market place. It involves an awareness of the macro-economic and micro-economic factors that impact on the core objectives of the business. The success levels of communication are influenced by the ability of the company to make accurate assessments and predictions of conditions on the global market. Wrong assumptions can lead to the development of poor strategies, which could cause major losses in profits and stabi lity of the company. It is important for global companies to seek for sufficient insights and resourceful information about the markets in order for them to manipulate the complex and diverse connections of the factors that determine the success levels of global businesses. ... Some of the reasons attributed to the success of Walmart in Mexico include awareness an awareness of the shopping culture of the country. Generally, Mexicans have a peculiar shopping culture that small packages and fresh products. On the other hand, regulation of global business basically involves the development of the most appropriate strategies that are consistent with the goals and objectives of the global companies. The art and science of regulating a global business is complex in the sense that it involves a balance between the internal objectives of the company and the unpredictable operating environment of global commerce. Regulation must necessarily involve the awareness of the variations in the nature of controls, restrictions, policy matters, legal restrictions, and other variables that apply within a global context. Some landmark cases of failure of renowned companies on the global market have been associated with limitations in the judgment of the management with regard to the most appropriate approaches. Inward looking strategies often incur challenges of cultural mismatch as the strategies fail to apply appropriately to particular situations. On the other hand, some of the notable successes on the global markets have been related to the ability of the companies to develop strategies that are responsive to the unique and varying demands of the markets. Markets do not bear similar characteristics. The preferences and trends on the western markets may exhibit significant variations with those in Asia. Cultural factors and other aspects of social realities determine these differences. By implication the marketing strategies and the nature of products designed for the western markets may have to be redesigned in order to

Young Entrepreneurs Essay Example | Topics and Well Written Essays - 500 words

Young Entrepreneurs - Essay Example This project also aimed at providing light to school going children from poor families who could not stand the smoke of the local kerosene lamp. The idea of developing the solar-powered lantern was originally presented by Wadongo at a local congress of young innovative youth’s forum in Kenya and was picked as a promising one with the potential to solve a problem in the community (Arrillaga-Andreessen, 2012). Wadongo did a lot of his research on the design and the sizes that most suited the targeted population. Through his various attempts to design a sustainable product that would not only last for long but also provide a cleaner source of energy, he came up with something that has been appreciated worldwide. His bight idea that only started in a small village in Kenya has now been recognized worldwide on various forums (Arrillaga-Andreessen, 2012). According to the locals, Wadongo’s project is one that has helped more children go back to school and the impact is felt almost immediately. The performances have increased in most schools that have adopted the use of the Solar-powered lantern. According to Wadongo, his project hasn’t reached its peak yet with several additions intended to be made. He wants to extend the scheme to cover more areas in the country, and at the same time sells his solar tapped power to major towns. He says that this approach will work best for him due to the frequent power blackouts experienced in those towns. His idea was driven by the fact that 90% of the country’s power is generated from hydro-power stations and the need for other reliable means of power generation was needed. According to Wadongo, the current power rates in the country are very high, and the consumers will welcome any form of cushioning. With the rates currently at Ksh 75 per kW unit, he intends to produce up to a total of 1000 kW for different premises.  Ã‚