Business has to be faced by different challenges and opportunities and Mark & Spencer is one of the renowned MNC in London having the specialization of selling of different attire, luxury food items and home appliances. It made its mark through a long term relationship with British manufacturers. At that time a brand name was used to sell clothes and food products. And the products which were not accepted by the customers were refunded and complete cash was given back by the owners. Almost all types of products i.e. lingerie, girl;s uniform, women's attire were sold out at at that time. Main focus of the company was on the quality of goods that were sold. Below are the opportunities and challenges that are faced by workforce in
LO 1 Role of culture in international business
Skilled team leaders derive the approachable employees which help them to understand the business thoughts and proceedings(Rees and Smith, 2017). Access to Related Workforce Data through Manager. Huge data and “Data Deluge” were the terms depicted by the economists which relates to the abundance and collection of high amount of data which proved to be a challenge and was considered as Gartner's Top Technology Trends in 2012. The managers of the organisation should have the talent to manage the extra data and spread data. Smart options are provided by the talent managers for the assessment of the extra data and to avoid the overload of the burden of information. The data has to be timely updated,perfect and meaningful for the business. Complete information has to be relevant which makes the business persuasive. Instead of providing a huge amount of data which contains some irrelevant data , some meaningful information is provided which differs between useful and “deluge” data for the managers in the organisation. This quality is unique which the business Mark&Spencer take into account to maintain their information relevant and in demand. Overloading is rejected by the leaders to analyse the data. And to make business more progressive and advanced irrelevant data is avoided by the managers. So they always differentiate between the desirable data which the real data and the data useful for the Mark&Spencer and the data all over which is the surrounded data in Mark& Spencer. Then there are processes to strengthen up the leadership baselines. Mark & Spencer not only focus on the top entities of the organisation but also shows interest in the solutions provided by the people for its establishment. This approach tighten up the their business strategies and people can also show their skills and talent which helps the organisation to grow more rapidly. Professionals solutions helps in the interaction between the leaders and the team members and more ideas are created and generated. This process motivates their self confidence and also visualizes their growth in career development. It covers all self intended employees whose actions and ambitions are being focused and considered. HR provide art staff training and engage their employees for quality wise work. It follows four types of models such Change agent, Employee champion, administrative partner, Strategic partner. These models perform proactive roles and ensures fantastic distribution of skills, training and core competency for the success of company. These models focus on the fact that they should listen to employees and provide sufficient resources so that company's targets could be achieved. In international market like in Africa there is requirement of effective cross-cultural communication skills and cultural awareness. Personal trust should be build up.
Here five cultural tips are followed such as the cult of precision, there is no mixture of culture with structure, courtesy is always there, sentiments matters the most and CSR is not there. Companies reinforce culture to achieve success. While, European culture is advance and they are proud of their language. They have understand their issues like to make face-to-face contact in business contracts. In corporate life they make use of extensive titles.
LO 2 Knowledge of organisational and national cultural characteristics.
These employees can be described as 'latent talents' of the organisation whose views were not submitted in the strategic talent management. These talents prove their presence by giving useful and ambitious solutions. Their career preferences are also being considered. Alignment of Human Capital Management (HCM) by the commitment of Organizational leaders with the business strategy is also very important(Al Maini and et.al.,2015). Maintaining HR strategies and talent management strategy is also a crucial part of business strategy which helps in building economy of Mark & Spencer very strong . Economic scale of Mark & Spencer strongly depend on the HCM strategy to form an outstanding workforce. Talent management team is apart of HR administration which analyses the potential and real ambition of employees. For leaders it is important to make strong business strategies with the commendable workforce and this desirable workforce is a challenge to business administration. They have their own in-build skills and are more in demand. Strong business strategy rises demand of talented people. which ultimately form the result oriented team by the organisational leaders. Aligning human capital management is very important to build up winning and successful workforce. In the organisation people of high age groups sometimes makes their own workforce and they want to get their views and values to be considered at the workstation. But the young employees have their advanced and fresh box of principles. This creates differences in the Mark & Spencer. And as the baby boomers are preceding, they are leaving behind the gap of 30 years which can be counted as the gap of 100 years(Jiang and Men, 2017). This is a type of disadvantage to the Mark & Spencer. But all old age workers are not required on the board as their health and mental power is concerned. New and talented is youth is being scouted to fulfil the gap yet the knowledge which they take with them can't be covered. Internation business opportunities includes many this like export-import, Outsourcing, Global marketing, and logistics. Many companies in US depend on domestic revenue. But after globalization companies are competing with the international market and generating income and not just rely on national market.
LO 3 Challenges and opportunities of global workforce
So for being competitive and strong companies and organization have to go global which requires a global leaders that build up a national as well as international team. This global expansion has generated many opportunities and has modified the companies to approach new customers and create a new baseline of global customers. They can transmit their products and ideas in a more better way in the market line. Technology has made this work more faster and easier(Finkelstein and et.al. 2015). Companies with the help of their domain name take advantage to seek customers . Another advantage is that companies are dealing in the market with different traditions and cultures which is a daring task for their leaders. Various ideas are implemented and planning has to be done to capture the market place(Davies and et.al., 2018). Recruiting local workforce can also lead Mark & Spencer to cultural sensibility and make the Mark & Spencer understand the new cultural environment and the way of dealing with it. Local employees ensures company's business standards. Cost advantages are provided to hire talent in many developing countries. Some countries have much higher employment costs and so they are cost effective and costs almost 60% of the salary levels. It is very important to do a complete examining of a recruiting perfect strategic goals before stepping into the market as there is lot of competition in the market regarding sales, products and customers. Globally, workforce also provide resources to convey with the people in the marketplace. Other than this, growth, expansion of business are also emphasized by the planning in International Business. Readiness in export , import are also focused globally in business centre. Proper training, transaction of quality products at global level, marketing and before that counselling of the market place and customers and logistics department are also some factors for the exploration of the business at international level. Assistance provided by Federal, County and state agencies and introduction of the international trade and accessing them with other international clients improves its growth. For e-commerce , promotion and global planning a lot of analysis on market competency, productivity is required. Different global perspectives lead to increment in new opportunities of marketplace and vision of consumers.
LO 4 Factors that contribute to globalised economy
Another factor that affects business centre and its strategy is diversity which tries to continue and motive the workforce to function at various levels. For eg. In Singapore salary of 13th month is benefit to the employees which is generally not required there. These small noticeable things that what is required and what is not makes decisions more tough for Mark & Spencer and so they hire local workforce. At some level population decides to gain a measurable goal and value a signified community through expanding their strategies globally. Sometimes operations are updated and re-evaluated in all prospects like from the type of technology they are using to the marketplace(Reilly and Williams , 2016). This is how the organisations make their mark in the market. For a clear reflection in the market, investments, changes in the availability of resources also vary. And workforce is considered to be the invaluable asset for the growth of every Mark & Spencer . A structured workforce that matches the diversity and socio-economic level for their end customers, can only faces the challenges of marketplace and accept market opportunities. It is said that a diversified workforce takes the organisation to greater level and touches level of innovation. Here inclusion is also needed along with diversity of workforce. And this diversity and inclusion differs from one part to another and in this some regions are developing and some are developed which creates opportunities for employees of the developing nation to show their talent and plan for abroad in various MNCs. These organizations provide them opportunities to make a stronger workforce which includes women of all culture, ethnicities, different community members so that business stores the cultural vision for business challenges and opportunities. A culture of equality is there which is forced by consumers to the organization(Colbert Yee and George, 2016). More and more inclusion and diversity activities are performed by the organisations for the assurance of skilled and potential staff. And all these can be explained in a word called 'value' of a product as client only looks the value of a product and recognizes the value of an organization.
LO 5 Practical application cultural awareness.
Cultural awareness of team refers to resound success and solving many problems. From my perspective it is important for honest feedback, for accountability, standards and commitment are maintained through communication, level of understanding is developed and strengths and weaknesses of team are known. Cultural awareness provides respect and trust for the team. It provides sense of worth for individuals. Development is there in each and every area.
Finally it is concluded that the to acquire high position in a global market an organization has to face many challenges which includes Talent management , important organizational roles of Marks & Spencer, extra data usage and how to deal with overloaded data . Cultural factors which includes diversifies environment and inclusion and structured workforce which is the backbone of the company is very important to maintain. Equality in workforce can be brought by hiring them from different regions, languages and culutres which make business centres more strong and adhesive.
- Aluttis, C., Bishaw, T. and Frank, M.W., 2014. The workforce for health in a globalized context–global shortages and international migration. Global health action. 7(1). p.23611.
- Pennycook, A., 2017. The cultural politics of English as an international language. Taylor & Francis.
- Vance, C.M. and Paik, Y., 2014. Managing a global workforce: challenges and opportunities in international human resource management. Routledge.
- Rees, G. and Smith, P. eds., 2017. Strategic human resource management: An international perspective. Sage.
- Al Maini, M. and et.al.,2015. The global challenges and opportunities in the practice of rheumatology: white paper by the World Forum on Rheumatic and Musculoskeletal Diseases. Clinical rheumatology. 34(5). pp.819-829.
- Jiang, H. and Men, R.L., 2017. Creating an engaged workforce: The impact of authentic leadership, transparent organizational communication, and work-life enrichment. Communication research. 44(2). pp.225-243.
- Finkelstein and et.al., 2015. Facing the challenges of a multi-age workforce: A use-inspired approach. Routledge.
- Davies, J. and et.al., 2018. The Challenge to Western Management Development: International Alternatives. Routledge.
- Reilly, P. and Williams, T., 2016. Global HR: Challenges facing the function. Routledge.
- Colbert, A., Yee, N. and George, G., 2016. The digital workforce and the workplace of the future. Academy of Management Journal. 59(3). pp.731-739.