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How do organizations go global? (8 things),”o Global sourcing (minimal global investment) – Purchasing materials/labour from around the world wherever it’s the cheapest. Goal: Take advantage of lower costs in order to be more competitive.o Exporting (= making products domestically and selling them abroad)o Importing (= acquiring products made abroad and sell them domestically).o Licensing (= agreement in which an organization gives another the right, for a fee, to make or sell its products, using its technology or product specification)o Franchising (Agreement in which an organization gives another organization the right, for a fee, to use its name and operating methods).o a global strategic alliance (significant global investment) (= a partnership between an organization and a foreign company partner(s) in which both share resources and knowledge in developing new products or building production facilities).o joint venture (= a specific type of strategic alliance in which the partners agree to form a separate

Management

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Four changes that are increasingly important to organizations,”- Customers: Managers recognize that delivering consistent high-quality customer service is essential for survival and success in today’s competitive environment and that employees are an important part of that equation.- Innovation: innovation means doing things differently, exploring new territory, and taking risks. It is critical in today’s challenging environment to know when, where, what, how and why to innovate.- Social media: social media is a form of electronic communication through which users create online communities to share ideas, information, personal messages, and other content. Managers need to understand and manage the power and peril of social media.- Sustainability: a company’s ability to achieve its business goals and increase long-term shareholder value by integrating economic, environmental

Management

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Four critical management skills by Robert Katz,”- Conceptual skills: A manager’s ability to analyse and diagnose complex situations- Interpersonal skills: A manager’s ability to work with, understand, mentor, and motivate others, both individually and in groups.- Technical skills: job specific knowledge and techniques needed to perform work tasks. (Top managers -> having knowledge of the industry and ageneral understanding of the organization’s processes and products. Middle &Lower managers -> specialized knowledge required in the areas where they work (like finance

Management

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