Homework Question on Contemporary, Global Macro-Environmental Trends, and Issues
- Global Issues assignment 1. Global Issues Objective: Students will demonstrate their ability to identify contemporary, global macro-environmental trends and issues, and determine opportunities and threats they present to business.
- The purpose of this assignment is for you to demonstrate your understanding and application of these issues. This is an international business assignment. Cavasguil, Knight & Riesenberger (2008, p. 4) define globalization as the “ongoing economic integration and growing interdependency of countries worldwide”. It follows that in one way or another, New York Life Insurance activities are connected to contemporary, global macro-environmental trends and issues.
- Basic requirements
- The paper should be approximately 3-4 pages, single spaced writing with double spaces between paragraphs including appropriate division into sections with helpful headings.
- Examine your organization’s (New York Life Insurance) activities from a globalization perspective, and identify one key global macro-environmental trend or issue that may affect your organization. Remember that the connection between your organization’s activity and a global trend may not be very direct.
- While there are MANY different global macro-environmental trends and issues, and we encourage you to identify those most relevant to your organization, some examples include: o currency issues involved in doing business internationally o barriers or difficulties associated with doing business in foreign markets (cultural, regulatory, knowledge, legitimacy, etc.) o importance and trend towards global networking o health issues around the world o expanding population in developing regions o environmental concerns around the world o concentration of industry in global clusters (i.e. Silicon valley, leather in Italy) o changing nature of the global workforce o internationalization by key players (competitors, suppliers, customers) within your organization’s industry o varying intellectual property protection processes by country
- Discuss the global macro-environmental trend/issue (include a citation) and analyze how the trend/issue provides opportunities or poses threats to your organization. Be sure to describe your organization’s activities in enough detail to provide a context in which the reader can see how the global trend/issue may have an impact on your organization. Justify your conclusion with reasons as to whether the trend or issue is an opportunity or a threat.
Homework Answer on Contemporary, Global Macro-Environmental Trends, and Issues
Globalization is a phenomenon that evolved due to the continuing economic integration to increase international trade and cultivation of global economic interdependencies. This ongoing growth of the interdependencies has contributed to the emergence of business trends in the global markets, global production, and global competitions. Given that some products target the local market while others target the international markets, it is collectively importance for the company to operate such that its services suit the customers in different market niches.
Standardization of the products has been one of the mostly applied concepts that provide the necessary services to the customers, thus experiencing some of the driving force to globalization.Players in the health insurance industries understand the pressure experienced when trying to reach global customers. The microenvironment rarely leaves any insurance business unaffected by the conditions and the rules of operation.
This “atmospheric stratum” leads to the coherent redefinition of the working attitudes, operational behaviors and the conglomeration of the policies so that the company may effectively continue offering it services. The adjustments to these constraints are essential since they tend to transform the company into sustainable socio-economic entities.Creative ideas are needed in redesigning the company’s operation techniques.