Essay Sample on Strategic Management Dynamics: Globalization, Culture, and Governance in Corporations

The specific manager's tasks and decisions will determine the long-term performance of the organization and, ultimately, its success. These decisions and actions are directly related to long-term planning; these are risky decisions that, if not successful, can have severe consequences for the economy and the resources of the people. These decisions are clear and comprehensive, but most, if not all, decisions are based on these strategies. Strategic choices and actions usually emerge from the trigger event; this requires a change in the organization. Such events can occur: a change of ownership or a change of ownership, a new leader, usually a new CEO or management position (Gangwish, Parshall, Qeadan, Jurado, Bennett & Alba, 2020). Performance gap, in which the company does not perform as expected and maintains a strategic management approach to track the organization, increasing the need for strategic management for other reasons. Once the company is started, it develops through four stages of strategic management.

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This phase is the initial financial planning phase when managers consider the organization's financial position and the costs associated with implementing the strategic plan (Schultz, Hess, Sachs, Tseng & Pernar, 2020). Only internal numbers are considered, and only one year in the future is considered. Based on the forecast, the second phase will take five years and examine the various plans and related budgets required to implement the strategic objectives. This step is very time consuming, and care is taken to keep the budget and goals together. The third step is the externally oriented (strategic) planning phase. At this point, top-level managers begin to get bored with the lack of progress, the time it takes to make five-year plans, and the control and use of strategic plans based on more external factors. These are designed to accelerate change in the organization. Actual implementation and small projects are left to lower-level managers. The most comprehensive and instructional plans come from above.

The fourth step is the strategic management step, where input from the bottom level to the top level is required, so there is a commitment to management (Aguinis, Ramani, Alabduljader, Bailey & Lee, 2019). As the textbook name suggests, managers (up and down) bring strategic plans based on SWOT analysis, globalization, innovation, and sustainability. Provides long-term answers and sustainability to strategic management firms.

As the globalization of business accelerates, a field called "Global Strategic Management" will then emerge. This is a combination of international trade and strategic management, which develops global strategies for firms worldwide. Periods such as European integration, the fall of Communism, the advent of environmental justice, the information revolution, and other significant establishments marked the beginning of a new era in world affairs.

The approach was developed in the "World 2000" project, which focuses on managing the global strategic management process between government, business, education, and other community sections to define the developing global system and help organizations adapt to change. It marks a new experiment in the forces that connect the earth in the unified world order and the flaws that define our time: markets and exchanges of information, as well as cultures with large differences, local issues, and world prices at current prices (Gangwish, Parshall, Qeadan, Jurado, Bennett & Alba, 2020). Changes are likely to occur in the new world order in the coming decade; the year 2000 provides the most symbolic turning point and will shape the evolving world order.

Strategic planning and corporate social responsibility are management that considers the ethical aspects of a company's business responsibilities. They incorporate these social issues into their business strategies and learn more about their role in society and their associations outside of the business.

Without complying with the law, corporate socially responsible businesses take proactive steps to raise their employees' living standards and the community. Different companies choose different social responsibility strategies, but all focus on four ethical aspects: financial, ethical, legal, and voluntary activities (Schultz, Hess, Sachs, Tseng & Pernar, 2020).

Sustainable development can be defined as environmental, social, and economic development that does not meet current needs and prevents future generations from meeting their needs. This research combines three different non-complementary, strategic management dimensions and promotes sustainable issues from a consistent perspective in corporate operations and strategies. These three dimensions are strategic processes, strategic content, and strategic context. Sixteen proposals have been developed for these activities to study the contribution of corporate sustainability management to businesses, associations, and the creation of value to nature.

The strengths or weaknesses of an organization depend on the situation at the corporate structure and culture. For example, a culture that prioritizes sustainable renewal in terms of organizational change is a credible force. With such a culture, it becomes easier to promote growth when the organization accepts the conservative culture. Organizational culture is a great success when communicating with new employees because it raises awareness of what is expected of them (Aguinis, Ramani, Alabduljader, Bailey & Lee, 2019). However, if the merger of the two companies has different cultures, corporate culture and structure may be a factor in the union's weakness. Depending on the two companies, there may be differences in the resulting company reorganization. Reconstruction is an expensive thing that can negatively impact consumers. Each organization has a corporate structure and culture that is dependent on several factors.

It does not matter the organization's size according to our type of script; the company should follow a strategy that is subject to employee supervision (Björk, 2019). Whether the planned method works or whether the environment needs to be changed in a way that fulfills its management responsibilities or is the organization's goal. It is the responsibility of the organization to express its objectives and goals. For a successful result, the company must prepare its workers, resources, and management in a correct strategic manner.

Companies always create the correct deliberate formation, but it becomes a failure due to the structure's abandonment and the plan. If the culture within the organization is significant, the structure and organization will be successful. For a successful organization, workers' consistency is based on the value of work, assumptions, and beliefs of the organization, a significant role (Aguinis, Ramani, Alabduljader, Bailey & Lee, 2019). These things must be done for a company to be successful. Employees help employees not only with themselves but also with a commitment beyond themselves. Employees create a reference frame for you to gain insight into organizational projects and make use of it as a consultant. Suppose a firm fails to finish these activities. In that case, the organization's vulnerabilities will start to grow, and employees will become dissatisfied and affect management, which will become the biggest problem for the company. They can only succeed if an organization follows its strategic structure. I have worked in some companies that have failed and been successful. When a company does not appreciate its employees' hard work or ignores the employees they work hard for, the strategic structure is weakened (Björk, 2019). If the HR team brings in an unattainable and useless, it is their human resource ability to jump into that manager and train the right person immediately, so the firm's planned structure does not fail. Otherwise, workers will start paying less attention to the firm, leading to an immediate effect on the company's culture. Thus, the organization denies both the hard-working employees and a reputation in the market.

When does a corporation need a board of directors? Justify your answer by an example from the Saudi market.

In Saudi Arabia, the responsibility for regulating the financial sector rests with the public sector. It has the power to oversee the activities of financial institutions under the Financial Institutions Regulation Act (Aguinis, Ramani, Alabduljader, Bailey & Lee, 2019). Despite the availability of rules and regulations, supervision is required when managers and boards attempt to do so prudently or ignorantly. In most countries, shareholders play an essential role on the board. Directors. Shareholders expect appointed boards and senior managers to act following their interests. The responsibility of directing senior managers; Planning, control, and corrective action are required. They must manage risk, possess effective control mechanisms, give correct information, and be ethical. Shareholders have confidence in the board decisions that oversee the activities and expertise of the senior manager. However, this does not happen in most cases, and the agency problem persists (Schultz, Hess, Sachs, Tseng & Pernar, 2020). When thinking about buying or selling shares of any company, current and potential investors often rely on foreclosure, subjective, and sometimes inaccurate financial information. In this context, shareholder confidence in the board's significant role and responsibilities in the supervision and selection of senior managers is crucial.

References

Aguinis, H., Ramani, R. S., Alabduljader, N., Bailey, J. R., & Lee, J. (2019). A pluralist conceptualization of scholarly impact in management education: Students as stakeholders. Academy of Management Learning & Education, 18(1), 11-42.

Björk, B. C. (2019). Acceptance rates of scholarly peer-reviewed journals: A literature survey. El Profesional de la información.

Gangwish, D. J., Parshall, C. A., Qeadan, F., Jurado, M., Bennett, R. N., & Alba, F. M. (2020). Predictors and Barriers to Faculty Scholarly Activity in United States Urology Residency Programs. Urology.

Schultz, K. S., Hess, D. T., Sachs, T. E., Tseng, J. F., & Pernar, L. I. (2020). A Structured Mentorship Elective Deepens Personal Connections and Increases Scholarly Achievements of Senior Surgery Residents. Journal of Surgical Education.