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Globalization has changed many aspects of modern societies. It is a situation that has facilitated free movement of products and factors of production across national boundaries. Actually, the world has become more interconnected and interdependent as a result of globalization. Developments in communications and information technology have facilitated the process by blurring the physical boundaries. Moreover, more efficient transport networks have eased the process of globalization. Today, ideas, products, and services move easily and freely between multinational organizations. However, globalization has also created new and more complex issues for organizational leaders. As a result, the process has had an impact on organizational strategic planning. It has changed organizations’ approach to economics and society, international collaboration, and management of global resources.
The process of globalization has influenced organizational approach to economics and society. The relationship has become more complex as multinational organizations have been forced to create strategies and goals that move beyond making profits (Farazmand & Pinkowski, 2007). It has demanded the development of a socially responsible enterprise that requires consideration of the interests and needs of all stakeholders. In essence, corporations have to make decisions collaboratively with all the affected parties. There several stakeholders companies might involve when formulating their strategic goals, including local citizens, governments, consumer advocates, environmentalists, and many other stakeholders. All the decisions along an organization’s supply chain should be made collaboratively with all the affected stakeholders. For example, firms are required to align their strategic goals with environmental sustainability. Moreover, they are required to participate in resolving some of the issues that affect communities where they operate. This means that organizations should create strategic goals that create a harmonious relationship between economic needs and societal needs. The objective can be achieved through international collaboration, including development of alliances with the relevant stakeholders. Strategic planning has become increasingly focused on sustainable development as it has become a major source of competitive advantage and new opportunities.
The global business environment also faces the complex and uncertain conditions. Global supply chains are complex and significantly influenced by many unpredictable factors (Jain & Kedia, 2011). Some of the factors that affect global chains include political, economic, weather, social, legal, and terrorism. For example, severe weather conditions can affect transportation of products and cause delays along the supply chain system. Changes in the legal environment in various countries can also affect movement of products and labor. Therefore, strategic planners within an organization should take into account all the factors and uncertainties that related to global supply chains. Most of these uncertainties can be resolved through partnerships with local and international enterprises. This requires strategic planners to identify appropriate international partners who are aligned with their practices. Moreover, many multinational corporations have been forced to move toward decentralization of their operations. The process enables them to restructure authorities and relationships so as to increase their efficiency. Globalization and free movement of labor have also introduced complexities in management an increasingly diverse workforce. This requires a unique strategic approach to global human resource management.
The process of globalization has continued to influence organizational strategic planning. Firms are required to make decisions that take into account the needs and interests of diverse stakeholders. Organizational leaders must also factor in the new and complex issues that have been introduced by globalization. Nevertheless, involvement of stakeholders and harmonization of economic and social needs are likely to lead to a sustainable future for organizations and communities.
References
Bryson, J. M. (2011). Chapter 12: Getting Started with Strategic Planning. In Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement, pp. 383-401). San Francisco, CA: Jossey-Bass.
Farazmand, A., & Pinkowski, J. (2007). Handbook of globalization, governance, and public administration. Boca Raton, FL: CRC/Taylor & Francis.
Jain, S., & Kedia, B. (2011). Enhancing global competitiveness through sustainable environmental stewardship. Cheltenham, UK: Edward Elgar.
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