MGT604 Managing in the Global Context Report Sample

MGT604 Managing in the Global Context Research Report

Assessment Instructions

To develop effective research skills in academia, it is vital that we understand how to summarise and paraphrase the work of other scholars and demonstrate an ability to draw out their main ideas and cite them accurately.

The aim of this assessment is to support the development of these skills as well as to broaden your overall familiarity with the subject- related academic literature.

Online Academic Writing Evaluation (AWE) test, which was conducted in Weeks 2-3, will have provided an indication of your current academic writing skills and areas to improve.

The feedback you receive on this assessment will be used to improve your performance and confidence in completing Assessment 3 (Research Essay).
In this assignment, students must develop a research question, select relevant literature, and write annotated bibliography, informing the reader of the relevance, accuracy, and quality of selected sources.

Step 1. Develop a research question related to a recent or current global issue or trend facing managers in a particular country or region. Discuss it with your lecturer and other students in class or via on-line forum.

Here are some examples of legitimate research questions:

• What are the common challenges that MNEs face in forming and managing Joint Ventures with State Owned Enterprises in your country?
• How to create an effective cross-cultural training program for Australian expatriates working in your country?
• How to become an effective business leader in a Low Power-distance culture?

*You may develop your own research question (subject to your lecturer’s approval).

**Your research question should be different from those of the other students in your class.

Step 2. Search academic journals or books and select three (3) academic journal articles or book chapters relevant to the topic of your interest and chosen research question.

Step 3. Write the Annotated Bibliography (approx. 500 words about each article or chapter, maximum combined length 1,500 words), outlining their relevance to your research topic, research method, expected findings and possible implications for managers. Acknowledge each article/chapter in accordance with ICMS 2021 Style Guide (APA Style 7th Edition).

The purpose of this exercise is to demonstrate your ability to develop a research question, to select relevant academic texts and to summarise them in your own words with proper referencing.

Step 4. Submit your Annotated Bibliography at the end of Week 7 to TurnitIn in the subject Moodle site (see the date and time).
Your Annotated Bibliography will form a basis for your future Assignment 3 (Research Essay).

Solution

Topic - What are the socio-cultural factors to be considered for running cross-cultural cultural business successfully in Australia?

Article 1:

MASOVIC, A. (2018). SOCIO-CULTURAL FACTORS AND THEIR IMPACT ON THE PERFORMANCE OF MULTINATIONAL COMPANIES. Integrated Business Faculty - Skopje, Republic of Macedonia. http://www.ecoforumjournal.ro/index.php/eco/article/view/729

In this article, the author has emphasized on the various concepts of social as well as cultural factors that directly or indirectly impact on the performance of international businesses. It presents the idea that it is essential for multinational firms to consider the environment of the host countries where they operate, especially the social and cultural background. In this article, the author examines the existing socio-cultural factors that are often dealt with by these firms. As per the MBA Assignment Expert  As emphasized by the author in this article, socio-cultural environment acts as one of the most significant elements of the business environment that refers to a combination of both cultural and social factors. The research in this article shall be helpful in analyzing the impact of various environmental factors in Australia, particularly socio-cultural factors, which substantially impact on the financial activities and performance of an international business in Australia. Through this article, the author has discussed the effect of specific socio-cultural factors upon the business performance of international subsidiaries. 

As inferred from the author’s research, the primary objective of this article is to acquire an in-depth understanding of the socio-cultural factors that cross-cultural businesses should consider while operating in the international business environment. The author has intended to study the society as well as culture of international environment in in terms of their impact on various aspects of overseas business of international companies. In this article, the author has highlighted the importance of considering socio-cultural factors for any business that aims to become a global organization. As a result, the research emphasized on several socio-cultural factors such as culture, religion, language, customer preference, level of education, and the societal attitude towards international products as well as services. This article comprises of a general discussion on the impact of socio-cultural factors on international companies, and does not include focus on any one particular host country or region. This may be treated as one of the limitations of the study since there is no empirical data analysis or evaluation of the impact of socio-cultural factors on the successful operation of cross-cultural businesses. 

In this article, the author has stated that international businesses can be impacted by more than a single culture at a time. As their subsidiaries are situated in various countries, these multinational companies are often exposed to different cultures and social environment. As evident from the author’s research in this article, culture of a particular region or country such as Australia reflect directly or indirectly on the achieved performance and business operations of multinational organizations. Thus, based on the research results as obtained by the author from literature reviews, it is evident that successful international businesses essentially develop strong acceptance as well as understanding of national cultures and cultural differences amongst the countries they operate in and seek opportunities to grow and expand sustainably in different socio-cultural settings. Despite a limitation of the study in terms of absence of empirical analysis of data-collection through quantitative methods like surveys or interviews, this study has covered a vast literature review of peer-reviewed journal articles to provide considerable results. Based on the results, this paper successfully contributes in determining the significance of taking socio-cultural factors into consideration by cross-cultural companies to evaluate their performances. 

Article 2:

Apsalone, M., & Šumilo, Ē. (2015). Socio-Cultural Factors and International Competitivenes. Business, Management and Education, 276–291. https://www.ceeol.com/search/article-detail?id=304307

In this article, the authors have discussed and analysed the impact of socio-cultural factors on business competitiveness in the international business environment. They have examined the various existing social as well as cultural factors that need to be considered by international businesses to enhance performance effectiveness and gain competitive edge. According to the authors, socio-cultural factors such as norms, shared values, attitudes, preferences, religion, language, and cultural backgrounds are quite significant to realize international competitiveness. Research in this article focused on previous studies regarding socio-cultural factors that positively influence on various facets of international competitiveness within Australian business environment, such as innovation, international cooperation, entrepreneurship, and productivity. According to the authors, these factors can be regarded as more sustainable and are likely to remain unaffected by external changes in environment as compared to traditional factors. As identified by the authors in this study, socio-cultural factors make way for opportunities for developing competitiveness strategies that depend upon unique advantages. The authors have aimed at exploring the influence of various socio-cultural factors upon the global competitiveness within small or emerging economies. 

In this article, the authors have conducted extensive qualitative and quantitative research and analysed relationship existing between 400 indicators of social and cultural factors and that of competitiveness such as economic development, innovation capacity, productivity, business/government efficiency, and infrastructure within 37 nations, including Australia. From the study, six socio-cultural factors have been identified by the authors, namely, collectivism and hierarchy, self-expression, cooperation and performance orientation, social structure, monochronism and rationality, and economic orientation. As researched by the authors in this article, the factor of collectivism and hierarchy reduces the extent of international competitiveness, and rest of the factors impact positively. The influence of various socio-cultural factors on varied dimensions of international competitiveness like entrepreneurship, external trade, productivity, innovation as well as knowledge transfer, and international cooperation has been studied and observed by the authors. Thus, the overall aim of this article is to establish the socio-cultural factors as well as explore corresponding impacts upon international competitiveness. 

Based on an empirical study, the authors have confirmed through this study about the impact of various socio-cultural factors upon international competitiveness in Australia and also global context. The factors like collectivism and hierarchy, self-expression, cooperation and performance orientation, social structure, monochronism and rationality, and economic orientation explain approximately 84% of the change in Global Competitiveness Index. All of the identified factors positively affect international competitiveness. However, this study has certain limitations that must be highlighted. The data utilized for calculating various identified socio-cultural factors have been collected through studies having different objectives, diverse measurement style, and wider geographic coverage. Also, the data have been collected at different timelines. However, the authors have argued through this article that these factors refer to long-term indicators and need not change over shorter time-frame. Based on the study inferences, the subject can be further explored in terms of how changes within these factors can lead to substantial changes in indicators of international competitiveness. Another aspect to be considered here is that besides socio-cultural factors, economic development of a country can overtime change the corresponding socio-cultural factors. Based on the empirical results obtained in the article, the authors propose future research towards further investigation of the topic. Nevertheless, the authors have successfully provided solid empirical evidences to mention policy implications regarding the need for considering socio-cultural factors along with conventional factors that influence upon international competitiveness. 

Article 3:

Singh, D. (2019). Managing cross-cultural diversity: issues and challenges in global organizations. https://www.researchgate.net/publication/331453077_Managing_cross-cultural_diversity_issues_and_challenges_in_global_organizations

In this article, the author has emphasized on the need to manage cross-cultural diversity by cross-cultural companies, especially while undertaking international business operations. Research focused on the significance of globalization and how the advent of technological innovation have led to trade liberalization with ever-increasing investments of companies aiming at international expansion. The study established a vivid background of how Australian companies are now intending to become international entities, and based on this background, the author states that companies are increasingly looking for adopting an inclusive workplace culture. In this article, the author has examined to imply that even though companies find it attractive as well as lucrative to expand globally, there are underlying challenges in managing as well as operating in different cultural settings. Based on the study results, the author indicates that international business is often impacted by several factors such as economic, social, political, legal, and cultural factors. It is also indicated in the article that international businesses are prone to several risks in terms of cultural or social aspects. The author has aimed at examining the discrepancies in managing cross-cultural businesses and how human resource can act as an integral part of the process. 

This article has specific objectives, such as identifying concepts like culture and diversity and their significance in international businesses, challenges and emerging issues within cross-cultural diversity, and recommending essential strategies to Australian businesses to manage diverse workforce with varied cultures and social relevance. In this study, the author has mainly used secondary data such as literature reviews and analysis. The data comprises of extensive reviewing of available literature from books, peer-reviewed journal articles, online materials, websites including information about cultural diversity, and previous research studies. The author has used relevant data to identify contemporary strategies (cross-cultural and diverse) that can be adopted by international organizations. The study has enabled identifying prevailing gaps in the available literature and also proposes for future research undertakings. In this article, the author has emphasized on the need to consider various existing challenges while managing cross-cultural businesses as this refers to a risk proposition. The author identifies the need to embrace cultural diversity in the management of international business by every organization to achieve success and prosperity in the long run. 

However, the study presents certain limitations, such as absence of empirical data analysis or data collected from qualitative methods such as surveys, interviews, and data directly from fields. Another limitation is that the study fails to discuss various social and cultural factors in details, and covers only a portion of the subject such as managing diverse workforce in cross-cultural settings. Nevertheless, the author has conducted extensive literature reviews to obtain study results relating to potential socio-cultural factors that must be considered by businesses in host countries to lead to effective workforce engagement and persuasive performances of managers at different subsidiaries and the entire organization as a whole. 

References

Apsalone, M., & Šumilo, Ē. (2015). Socio-Cultural Factors and International Competitivenes. Business, Management and Education, 276–291. http://www.ecoforumjournal.ro/index.php/eco/article/view/729

MASOVIC, A. (2018). SOCIO-CULTURAL FACTORS AND THEIR IMPACT ON THE PERFORMANCE OF MULTINATIONAL COMPANIES. Integrated Business Faculty - Skopje, Republic of Macedonia. https://www.ceeol.com/search/article-detail?id=304307

Singh, D. (2019). Managing cross-cultural diversity: issues and challenges in global organizations. https://www.researchgate.net/publication/331453077_Managing_cross-cultural_diversity_issues_and_challenges_in_global_organizations