Globalisation is the process of the world becoming interconnected due to increased trade and cultural exchange throughout different countries. I will now explore the advantages and disadvantages of L’Oreal globalising their brand.…
One of the most significant questions in the global strategy field is how multinational firms should…
Globalisation is a critical influence that businesses must be aware of as it opens up the door for new growth, such as Qantas announcing its intention to set up a new premium airline in Japan. McDonald 's is the leading global foodservice retailer with more than 33,500 local restaurants serving nearly 68 million people in 119 countries each day. Globalisation…
In 1984 James E.Grunig and Todd Hunt proposed several theories to crisis management of large companies. Two major parts are the apologia theory and the image restoration theory. The very basis of these theories is a proper response of the company towards the public (customer) and political audience (James Grunig as cited by Kathleen Fearn-Banks, 2007) Learning from the Valdez fiasco in 1989 authors like Steve Adubato (2008) stated that understanding the narrow window of opportunity to react is crucial for a successful crisis management. To show genuine concern for the situation it is important to send a high representative to the scene on short notice (Steve Adubato, 2008, p.24). Showing responsibility and direct reaction are also seen as most important in a crisis situation by…
Business isn’t always about staying on top and trying to beat out the competition or make a name for the company. Sometimes, the issue can be simply staying afloat when harder times come. Businesses occasionally go through situations that could threaten or harm people or property, interrupt business, damage reputation or negatively impact share value. These situations make up the definition of a crisis. Every organization is vulnerable to crisis, whether that organization is large, small, successful, or just getting off the ground. Crisis is something that can determine whether a company will last or simply die out in the near future, so businesses should prepare themselves for times like these. Businesses that have failed because of crises, in the past, seemed to have lacked in proper crisis communication. Without adequate communication, operational response will break down, stakeholders usually react negatively in a confused panic, and the organization will be perceived as inept and criminally negligent (Brice). In order to better prepare for times of crisis, there are eight basic steps that have been implied by businesses that have overcome crises in the past. They require advance work in order to minimize damage, because more damaged is incurred if a business takes longer to respond to a crisis.…
1. Conducting Business during the 21st century has many dimensions. To what extent are national forces being superseded by global trends, especially in terms of multilateral institutions such as the European Union and various economic agreements in the Western Hemisphere and Asia? When a company considers investing internationally, what circumstances should influence how much priority is given to global concepts and/or national differences when evaluating the four alternatives for strategic choice?…
BP oil spill in April 2010, had incurred serious damage to both the company and publics. Though some internal and external communication strategies were carried out after the accident, more improvements should be made by BP to maintain the safety and reputation. The internal strategies used by BP, employing appropriate communication channels and appointing a CEO who is familiar with American cultures, need to be analysed and evaluated, as well as the external strategies aiming at reacting to public by employing crisis response strategy framework. Based on what were concluded from the analysis, some feasible recommendations were to be brought forward. In order to avoid the similar accident, BP must promote trainings focusing on enhancing communication skills in multicultural environment and establish a crisis management team to respond to public. These proposed strategies are valuable to improve BP’s internal and external communication.…
I recently completed a simulation entitled, "Managing a Crisis Using PR." My role during the simulation was that of the Public Relations (PR) Manager for Greenergy. Over the course of the simulation I completed three PR scenarios. As a result of the simulation I have gained a firm understanding of proactive planning and the importance it holds in the success of an organization. In this paper I will analyze the simulation and answer a few questions such as; the definition of proactive planning, the feedback mechanism I developed in the simulation, examples of ineffectual ways of deploying m plan, areas when a proactive crisis management plan is necessary and when and what roles PR plays in reactive crisis management.…
Reduce costs with worldwide standardized products, uniform promotional strategies and distribution channels Seek lower costs or higher quality anywhere in the value chain and in the world…
When a corporation experiences a threat to corporate image, protecting one’s stakeholders is the first priority. This is achieved by implementing necessary crisis response strategies, and Coombs (2007b) Situational Crisis Communication Theory offers three key approaches corporations in crisis: deny, diminish, and rebuild. As McDonalds Canada, knowingly placed people at risk by voluntarily making the decision to adjust its nut-free policy, it falls within the preventable cluster of crisis response, and thus should have used rebuilding crisis response strategies to restore its image. Rebuild strategies…
Withholding information can cause dire consequences for an organization. During a crisis, the whole story should be shared with the public. Information should be shared depending on what can help solve the crisis, not what can generate a larger predicament for the organization. An explanation of what caused the crisis should be shared with the public, as well as the steps that will be made to find a feasible resolution. If a mistake was made, it is important to admit fault and tell the truth, rather than hide it or blame others because it could give the organization a negative image once the truth is exposed. Being transparent avoids rumors and erroneous information from circling the crisis and making it more harmful. Establishing key facts and providing appropriate and truthful information in a timely and transparent manner is crucial to an organization’s success. Sharing information as soon as it is available and being accessible to answer questions from the audience shows…
Globalisation of companies: Every organisation wants to have a product or service that is recognised around the globe such as Mc Donald’s. If you walk into a Mc Donald’s in Dublin you are guaranteed to get the same product and service here as you would in New York.…
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A big issue facing the international marketing world today is whether global branding is better then local branding. Consumers all over the world have many different opinions on whether they like purchasing products from big corporate, multicultural companies or the local mom and pop shops that they have grown to know, and became comfortable with. The pros and cons of both global and local branding vary from good and bad. In my opinion local branding are still superior to global branding in the society today.…
The form and substance of a company’s response to global business opportunities depend greatly on management’s assumptions or beliefs –both conscious and unconscious – about the nature of the world. The worldview of a company’s personnel can be described as ethnocentric, polycentric, regiocentric, and geocentric. Management at a…