Question

A classmate says: "Global businesses is relevant for top executives such as CEOs in large companies. I am just a lowly student who'll struggle to gain an entry-level job, probably in the small domestic company. Why should I care about it?" How do you convince your classmates that global businesses something to care about?

Answer 1

I shall first ask my classmate not aim for the stars and may be some day she can reach the sky at least. Often we tend to under estimate our potentials. We may possess the skills of management or business acumen but we might have not tapped the same till date. Even being an employee of an organization that has a Global business, may have a significant impact upon the Organization’s culture, understanding of the cross-cultural values, being deputed in the foreign lands to deliver efficient services on behalf of the Parent company in that area or even to you’re your own franchisee globally, in the days ahead, by taking baby steps at the moment, or for simply putting your business in the global front by exploring the digital space in the business world – shall all require us to care about the Global businesses. In fact, even the domestic businesses may have some or the other impact owing to the global business scenario, such as valuation of dollar in the Foreign exchange market, the demand for labor from the global markets, etc., may have an influence upon our employment in the domestic sector.

Besides, it never wrong to aim for being senior executive of a Global company. Although being in role like that of a General Manager of a large firm largely depends upon two factors: knowledge of an individual and leadership skills possessed by such individuals; the course of Global Business, may also help in the preparation of the same in future. However, it is to be well noted that no amount of course can ever help a student unless the student is willing to put such learning into actions and take efforts in the line of grooming itself to be a General Manager in future. Global Business course can however facilitate such a mission of a student.

We should care about Global businesses because that study shall make a student understand various concepts of the global markets and its impact upon a Firm. A large Firm may possibly have its operations abroad in such global markets or even if such a Firm’s operations are limited to the domestic borders of the nation, there is still an impact of the Global movements upon it. For example, rise in oil prices impact the Dollar rates across the world. The foreign currency gets impacted and the same is reflected upon the trades in the nation where the Firm is located. Global economy is thus to be studied well and to be taken into the Firm’s advantage with the help of a senior management team like that of a General Manager. It shall further given an insight to the student about the existing conditions of the global economy and the players in the market who can have a bearing upon a large Firm. Caring for Global businesses may further help in picking up a foreign language study so that when a large firm has to deal with stakeholders abroad, this language knowledge could prove to be highly beneficial in striking the right chords with them. Global Business shall also prepare a student to examine the global cultural and ethical issues and its relation to the activities or values of the large firm. In addition, as a Global manager, the decisions pertaining to entering into foreign markets, dealing with diverse workforce, etc., could be significant.

Hence, understanding of Global businesses prepares for all this and thus helps churning us out as a General Manager of a large Firm in future.