Mbs6611 Global Business For The Assessment Answers

Questions:

1. Provide students with a sound knowledge about the changing global business environment in the Asian century;

2. Equip students with practical frameworks by which major business issues can be analysed in complex international contexts;

3. Provide students with opportunities to apply learnt knowledge and skills to analysing problems executives face in managing a global business in the Asia Pacific and beyond.

Answers:

Creating shared values is an essential business concept that was first introduced by Harvard Business Review. The concept of shared values highlights the social needs and not just the economic needs thus being more than just a business strategy. The corporate social responsibility as well as the philanthropic activities focuses on enhancing the social activities. Thus, creation of social values has a key role to play in enhancing the business of the any organization. The creation of shared values differs a lot from the corporate social responsibilities. The key differences lies in the facts that the CSR activities highlight the benefits that the company has been bring in to the society. However, creation of shared values highlights the economic benefits with respect to the cost that incurred to the business. The recipients of the CSR activities are mainly the citizens as well as the society as a whole. The environmental sustainability is also a part of the CSR activities. However, the recipients of the shared values include creating values for the business as well as the society. The agenda for the CSR activities mainly focuses on the people’s welfare along with the society. However, in case of the creation of the shared values, business centric agenda is seen. Thus, the CSR activities as well as the creation of the shared values are different. Creation of the shared values as mentioned in the essay is appropriate in the context of international business. The creation of the shared values has a key significance in the international business. Any business organization has to ensure that they engage in both CSR activities as well as the CSV activities. The creation of the shared values in the international business is taken up by redefining the productivity in the values chains, re-conceiving of the various services and the products along with the strengthening developments of the local cluster.  Thus, the CSR activities as well as the CSV have been distinguished effectively in the essay and the importance of both these activities have been shed light upon.     

People of each country have various distinct features that differentiate them from the people of other countries.  The Asian bear various special features that are different from Americans or Australians. While the business organizations hire people, the primary motive is to ensure that they possess the expertise and skills that are required for the specific positions. The cultural differences among the various people belonging to various places of the world could be highlighted using the Hofstede cultural dimensions. The various cultural dimensions include the Power Distance Index, Individualism versus Collectivism, masculinity versus femininity, uncertainty avoidance index, long-term orientation versus short-term normative orientation, Indulgence versus restraint. These cultural dimension of Power Distant Index being high, highlights the fact  that the Asians accept the hierarchical order in the business organization. However, as mentioned in the essay, if an Australian be placed in an Asian organization, then the cultural differences will be a lot since in Australia, the Power Distant Index is low and they believe in equalized working culture. Thus, the cultural differences have been well mentioned in the essay. Moreover, the cultural dimensions of Individualism versus collectivism are also a measure of the cultural differences. In case of the Asians, they believe in collectivism where they prefer a tightly knit framework. However, in case of Australian employee, they prefer individualism and have a loosely knit framework. Thus, if an Australian is placed in an Asian organization, he will find it difficult to adjust with the collectivism social culture. Another cultural dimension that affects the culture is the Masculinity versus Femininity. In the Asian society, the quality of life and caring for the others have a greater importance than the qualities such as achievement and heroism. Thus, an Australian employee who is used to a masculine society will face difficulty to adjust to the femininity in the Asian society. Thus, the essay has clearly highlighted the traits and characteristics of Asians and the ways they differ from an Australian society. However, it could be concluded that in case of international business, cultural differences have to be effectively mitigated such that the best talent could be hired irrespective of the country in which the person belongs to.