Role Of International Management and Governance for More Responsible Business Assignment Sample
Introduction
To evaluate a company, some major things should be remembered, such as communication effectiveness, creating a good relationship with the customer, employee satisfaction, and advertising the brand’s name etc. To enlarge an organization evaluation is important. One of the great companies named P & G is a firm organization. This company also follows the process of evaluation to enlarge the company. The full name of the P & G Company is Procter and Gamble which is an American company. Their business products are baby care, feminine care, hair care, as well as personal health care etc. P & G Company uses the benchmark internally as well as externally to grow their business. P & G Company follows the strategy to increase the business by launching new products as well as new brands and innovation. They plan to compete with the other company.
Discussion of management and governance process
The Procter & Gamble Company has some of their own criteria to develop their business in the market. The P and G Company follows some criteria for better assessment such as coherence, consistency, feasibility, educational effect, equivalence, and acceptability as well as catalytic effect. There are some other criteria for good assessment in marketing is content validity, fairness as well as reliability. Criteria help to gain more knowledge as well as skills from the market which helps to develop their business in the market (Wendt, 2015). Marketing criteria assign a confirmed proportion of the assessment to increase particular knowledge of the marketing. P & G companies use the marketing criteria to analyze the marketing competition which helps the company to create a new plan or project to increase the business.
The P & G Company has to understand and acknowledge very clearly about the market criteria like market size, urgency, cost of customer acquisition, pricing potential, cost of value delivery, speed to market and upfront investment, as well as uniqueness in offer, and up-sell potential.
To assess the product P & G Company has to maintain some criteria such as market, financial, and product process.
P & G Company’s follows the theory and concept of international management
Management theories and concepts are the backbone of the business. P and G company follows the management to collect ideas and to reach their goal. This theory also makes the work process easy which is helpful for the leader as well as the employee. Not only the other international companies follow the management theory rather P & G companies also follow this management theory to increase their business.
P and G follow some theory to increase the business such as-
- Scientific management theory
Fredrick Taylor recommends following the management theory. Scientific methods increase the products of the P & G Company. This theory also makes the work process easier and helps the team leader as well as the employee of the company. Following this theory the P & G company developed their products and in international marketing. They also use many new technologies to develop their business. Scientific theory helps to make the products of the P & G Company.
- Principles of administrative management theory
Henri Fayol developed this Principle of administrative management theory. This theory has some principles such as Initiative, scalar chain, equity, unity of direction as well as discipline. The P & G Company follows this principle.
Initiative principle refers to the employee to run out the business alone but as a responsible. Initiative principles help to make the group unity. Initiative principle is always maintained by all employees as well as leaders of the P & G Company.
Scalar chain is another kind of principle. It helps to increase the business lower to the upper position with the help of communication and the chain system. Chain system runs the business fast (Stewart and Hocking, 2019). Chain system principle develops the business in international management as well as in the market. Using the chain system principle the P & G Company is enlarging their business throughout the world. So the scalar chain is necessary in international management.
Equity principles refer to the fact that in the organization all the employees must be treated equally. To carry out the business internationally the P & G Company has to give equal importance to the employee as well as the leader. They are the backbone of the company. They help to run the company throughout the world. Sometimes the P & G Company has to give importance to the plan of the leader. Because they have to remember that all people have the creative mind. So the plan of the leader may work out to grow their business. Most importantly the P & G company has to neglect the concept of nepotism otherwise it will hamper the company’s name along with the product.
Unity of direction principle refers that each group leader has direct the same way the members of the unity. If there are two leaders of the same group the direction of the leader will be two way. That will hamper the business as well as hamper the employee’s concentration. So each group contains one leader and the direction of the plan must be taken united. Otherwise complexion can be seen in the internal part of the company means the problem will increase between the leaders. So to enlarge international management the P & g company has to give importance to the principle of unity of direction.
Discipline is another principle which is very necessary not only for the leader, but rather the employee of the company has to maintain the discipline. Discipline is the rule of the company. All the members of P & G Company have to maintain the discipline in time, action as well as in action. Discipline is another way of success. To develop the business the P & G Company has to maintain the discipline for international management. The international business leaders were very possessive about the discipline.
- Human relations theory
Elton Mayo described this Human relation theory. The P and G Company follow this theory; it defines the length time of the work as well as break time of the work. This helps the employees of the P and G Company to focus on the work. The P & G Company has to remember that the employees are not machines (Wendt, 2015). So they have to behave and maintain a good human relationship with their employees. If they do not maintain a good human relation with their employee, the employee will complain against the company as well as they will also leave. So to increase business a good human relationship is important for international management.
- System management theory
This theory helps the P and G Company to build the business. With the help of theory companies are easily able to reach their goal. The theory and concept of a system is important in the business. So the P & G Company has to develop their system in the organization. Otherwise it will ruin the company and the company will not be able to do the business in the international management.
- Bureaucratic theory
This theory is also followed by the P and G Company. They followed this theory to increase their business. This theory divides the work to the employee that helps the company to take out the work from the employee easily.
The P and G Company follow all the theory and the concept to increase their business structure as well as management. Following this all the concept the P & G Company develop their market position as well as increase their product sale thoroughly in the market.
Awareness of the current issues of the international management
The emerging issues are becoming challenging for the P and G Company. The issues will hamper the growth of the business. But the P and G Company have to be aware of the current issues. Some of the current issues which are effective for international management like P and G companies. The current issues are – language barriers, cultural differences, managing global teams, and nuances of foreign politics, policy and relation.
For example, Language barriers are an issue which hampers communication with others. The P & G Company have to face this type of problem because in the international business field there are varieties of the employee as well as the leader who belongs from the foreign country. That’s why the P & G Company keep the different types of interpreter to communicate with the other company. So the P & G Company has to break down the language barriers to carry out the business in international management.
In the business P & G Company has to neglect the cultural differences to carry out the business in the international management.
CSR theory
CSR theory also known as Corporate social responsibility. The P & G Company follows the CSR theory to develop their international management as well as the business. CSR theory has four types of responsibility that are environmental responsibility, ethical responsibility, economic responsibility, and philanthropic responsibility.
The P & G Company has environmental responsibility. Greenhouse gas pollutes nature. The company has to be aware about the environmental issues of the company. Otherwise the company has to face legal problems for going against the environmental rule. So the company has to remember that during the product making environment was not hamper.
The P & G Company has ethical responsibility. The ethical issues of the company are some rules that are given the pressure of the employee. So the P & G Company has to be aware of the ethical issues of the company. They have to maintain some rules to carry the ethical responsibility. Like they have to acknowledge the raw materials of the product and more importantly they have to give respect to all the employees of the company. If the P & G Company fails to carry the ethical responsibilities of the company then their business management as well as the business structure will be broken down.
Economic responsibility is also followed by the P & G Company. The P & G Company has to acknowledge the finance department of the company. They have to maintain the economical growth of the company yearly. They have to ensure the quality of the product. If the product quality is bad then their reputation of the business will be ruined. Then it also hampers the economics. So the P and G Company have to be aware about economical responsibility. They have to maintain their economic growth to secure the business.
Philanthropic responsibilities are another responsibility of the company. The P & G Company has to give the profit to the donator because it is their philanthropic responsibility. If they fail to carry Philanthropic responsibility their international business will be ruined. So they have to give the profit as a share of their annual income.
So therefore, the P & G Company has to solve the problem of being a responsible company. So they have to follow the CSR theory. The CSR theory always helps the company to take the right decision and helps to solve problems.
The P & G Company has some ethical considerations. Some of the considerations are justice, integrity, as well as conflict of interest which will help the company’s growth. The ethical consideration is very important in the growth of the international management of the company. The ethical considerations help the company to reach their goal. The ethical consideration depends on the scientific research. Some of the ethical considerations are anonymity, informed consent as well as confidentiality.
Conclusion
To conclude it must be said that to carry out the business in the international management there must be some governess. Without rules and regulation a company cannot run. So the P & G Company follows some market criteria to evaluate the business. Then the P & G Company also maintains some theory and concept to develop the business. Mainly they followed the CSR theory to develop their business market in international management. The P & G Company is aware about the current issues to develop the company for international management.
References
Fashion: Learning from the Experts. Salvioni, D.M., & Gennari, F. (2020). Stakeholder Perspective of Corporate Governance and CSR Committees.
Jastram, S.M., & Schneider, A. (2018). New Business and Governance Approaches to Sustainable
Klettner, A., Clarke, T., & Boersma, M. 2019
Stewart, J., & Hocking, C. (2019). Adaptive Sustainability for Business Management in an Age of Disruption and Transformation. Responsible Business in Uncertain Times and for a Sustainable Future.). The Governance of Corporate Sustainability: Empirical Insights into the Development, Leadership and Implementation of Responsible Business Strategy. Journal of Business Ethics, 122, 145-165.
Wendt, K. (2015). Responsible investment banking : risk management frameworks, sustainable financial innovation and softlaw standards.
………………………………………………………………………………………………………………………..
Know more about UniqueSubmission’s other writing services:
