MNG00723 Global Business

1. What are the key factors in successful leadership
2. What examples of the execution of successful businesses strategies can you find in your research
3. Is the ‘freedom to fail’ essential to encourage business innovation [Cite some examples of entrepreneurs successful now but who failed, even going bankrupt prior to their success]. Can experimentation help
4. ‘Digital disruption’ has launched a number of successful innovations.  Research examples and identify the role of digital disruption
5. prepare a written research paper outlining the various learned opinions (and their sources) that you have discovered. It is essential that all your sources are from scholarly academic publications. If there is any doubt please consult your tutor to ensure Academic Integrity.

The topic of this assignment is to discuss about the various trends of global business.The global business is going through some vast changes in this 21st century.The employers, managers, hierarchy and the employees need to keep up their efforts with the changing environment and they need to adjust with these changes.The article ‘Workspaces that Move People’ gives many ideas about the various aspects of the workspace changes in the world.  

Hot-desking Hot-desking means the practice when the employees have to share the same chairs or seats during different office shifts (Gilson et al. 2012). Working from home Work from home is another aspect in the new trends in global business where the workers do not have to go the office but still they can complete their works and get paid by their companies (Reshma, Aithal and Acharya 2015 Corridor meeting standing up Stand up meetings in the business organizations has acquired some popularity in the new trends of the global business (Stray, Sjøberg and Dybå 2016 

One very important aspect of the organizational success depends on how the employees are performing throughout the month and on daily basis (Jenter and Kanaan 2015).  The performance of the workers should be assessed regularly so that their strengths and weaknesses can be detected and the managers can take necessary steps according to that. Managers should encourage and motivate the employees if they are not performing up to the mark and good performances should also be rewarded by the management (L?z?roiu 2015) Productivity is also another aspect that is related with the employee performance.Productivity of an organization has a large impact on the profits of the organization (Jorgenson, Gollop and Fraumeni 2016) The more the productivity report is on the positive; the more chances are of the progress of the company (Michelon, Boesso and Kumar 2013). 

One of the most popular aspects of the modern day organizations is the teamwork or collaboration between the employees (Turner 2014).  Problem-solving is indeed an important issue as the different team members have different viewpoints towards a problem and they can bring out new ideas to solve the problem in reality (Aarikka-Stenroos and Jaakkola 2012). In some cases, privacy issues work as a hindering for teamwork.Mostly the people with ego and more self-esteem do not want to collaborate with others as they think themselves to be superior to others (Kuhnen and Tymula 2012).  They feel it not up to their level to work with other employees.  

a) Action-Oriented Bias This kind of bias tells that people feel pressure to take action and they are optimistic about the outcome of the action. Self-Interest Bias In this bias, the managers should be motivated to achieve a positive outcome for themselves and also the organization as a whole (Schunk and Zimmerman 2012). c) Pattern-Recognition BiasThe main focus of this kind of bias rests on the fact that the managers should always be concerned with more recent events and they should attentive towards more memorable events of the recent past (Fukunaga 2013). 

The key factors that can help a manager can become a good and successful leader are- a) Managers have to set the right example in front of all the employees always so that they can learn from the manager who is the perfect leader.  b) Managers have to understand their own limitations and their attributes. They have to improve on the areas they are lacking and thus they can become a good leader. c) The managers have to technically very much proficient than rest of his team members. He must be able to help the people whenever they are in any problem.d) The managers must have the skill to guide their employees in the right direction and inspire them in the difficult times. e) Leaders should be able to make correct decisions that will aggravate the success of the organizations. The decisions should also be very timely. 

a) At the business start ups, small business need to know the effectiveness of negotiating with money because they cannot afford lavish expenses.In course of the business development and they should be ready to adapt to the changes that are taking place regularly (Poortvliet and Giebels 2012) There are several business strategies that help to grow the business in the right way (Bryman 2013). These correct strategies are- c) The marketplace is immensely competitive in the recent times. The business strategies should be built in such a way that the concerned company can always stay a step higher than its rivals. 

Business innovation needs to go through various experiments at different times.The experimentations in different fields of business are very much needed to become successful.The only way to bring success is to try till the point, success is achieved.Thus, business innovators should keep on trying till they reach the success after failing several times (Follett 2013). 

The digital media have taken over the undertakings in the service sector and it has influenced the industry and the people in great ways.People are using mobile devices to do their needful works in a very short time and this has helped them a lot to work faster.  Digital disruption in the workplaces has made the working practices faster and it has made human beings dependent on machines more than ever (Hirt and Willmott 2014). Digital disruption is a relatively newer aspect of the business industry and it concerns with the improvement in the business industries that occur due to the implementation of technologies in the firms and the effects that it brings in the existing structures (McQuivey 2013).  

The information technology has left a deep impact on the workplace as the workplace practices are going through changes regularly (Hacker 2017).It has affected the organizational culture and also the organizational structures.It decreases the effect of distance and makes the world a smaller place by recognizing the effectiveness of using electronic devices more than often.  It also has laid its impact on the management process and managerial decisions as well.      

It can be said from the above discussion that the new trends in the global environments have helped to cater to the needs of the customers and it has served as a pioneer to the future business industries.The ideas of hot-desking, teamwork, new business strategies have helped the organization to grow so that it can be a global phenomenon.The global managers need to learn from the strategies and business innovations and they should try to experiment their ideas so that it could open new paths. 

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Does the use of standing ‘hot’desks change sedentary work time in an open plan office?. Preventive medicine, 54(1), pp.65-67. Hacker, S., 2017. Pleasure, power and technology: Some tales of gender, engineering, and the cooperative workplace (Vol. 5). Routledge. Hirt, M. and Willmott, P., 2014.

Strategic principles for competing in the digital age. McKinsey Quarterly, 2, pp.93-108. Hwang, C.L. and Yoon, K., 2012. Multiple attribute decision making: methods and applications a state-of-the-art survey (Vol. 186). Springer Science & Business Media. Jenter, D. and Kanaan, F., 2015.

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The impact of high-performance human resource practices on employees’ attitudes and behaviors. Journal of management, 39(2), pp.366-391. Kuhl, J. and Beckmann, J. eds., 2012.

Action control: From cognition to behavior. Springer Science & Business Media. Kuhnen, C.M. and Tymula, A., 2012. Feedback, self-esteem, and performance in organizations. Management Science, 58(1), pp.94-113. L?z?roiu, G., 2015.

Employee Motivation and Job Performance. Linguistic and Philosophical Investigations, (14), pp.97-102. McQuivey, J., 2013. Digital disruption: Unleashing the next wave of innovation. Michelon, G., Boesso, G. and Kumar, K., 2013.

Examining the link between strategic corporate social responsibility and company performance: an analysis of the best corporate citizens. Corporate Social Responsibility and Environmental Management, 20(2), pp.81-94. Poortvliet, P.M. and Giebels, E., 2012.

Self-improvement and cooperation: How exchange relationships promote mastery-approach driven individuals' job outcomes. European Journal of Work and Organizational Psychology, 21(3), pp.392-425. Reshma, P.S., Aithal, P.S. and Acharya, S., 2015.

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Motivation and self-regulated learning: Theory, research, and applications. Routledge. Stray, V., Sjøberg, D.I. and Dybå, T., 2016. The daily stand-up meeting: A grounded theory study. Journal of Systems and Software, 114, pp.101-124. Turner, M.E., 2014.

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Open Innovation for small companies: How should an open innovation model be designed to increase the innovation capacity for small companies.