Write 8 pages thesis on the topic identifying themes and concerns for the benefit of the individual business manager. It is vital for a business manager to anticipate and identify them so that they can be exploited as new opportunities for growth. Thus, business managers are important linkages that integrate external opportunities and organizational growth by identifying themes and concerns for the benefit of the organizations.
The characteristics of emerging external and unstructured issues are essential paradigms that need to be identified and evaluated for evolving effective strategies so that issues can be resolved early and turn impending failure into stepping-stones of success. The tangible and intangible elements of the external environment often create hassles that adversely impact organizational growth. They become a major contributor to its deteriorating performance. Slater and Narver (1995) believe that firms which constantly make efforts to acquire, process, and circulate information across the organization about markets, products, technologies, and business processes, etc., tend to succeed in anticipating changes and meeting them with a creative and flexible approach. Consequently, managerial leadership of business managers becomes the key enabling element that helps firms to maintain their leverage in the market against all odds. The following four themes are critical factors that influence organizational performance.
Globalization has emerged as one of the most important external issues that have long term cascading impact on the organizational processes and performance. Globalization can be broadly defined as ‘the diffusion of goods, services, capital, technology, and people (workers) across national borders’ (Sirgy et al., 2004: 253). .). Technology has been a major facilitator that has accelerated the pace of globalization and expanded business potential across wider geographical boundaries. It has expedited economic liberalization, thereby greatly expanding the scope for international businesses through foreign direct investment in various sectors in foreign countries, promoted cross border mergers and acquisitions, partnership, export and import of goods and services (Hill, 2009).