BUMGT6958 Comparative Issues in International Management Essay 1 Sample

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BUMGT6958 Comparative Issues in International Management Essay 1 Sample

Assignment Details

In your essay, you should refer to at least 5 recent academic (peer-reviewed) journal articles (with a publication date of 2020+). Your essay must meet the threshold of 5 recent academic journal articles. Essay marking criteria will be available on the BUMGT6958 Moodle site prior to the due date. You should refer to the criteria before submitting your essay.

Length - 1,500 words not including abstract and references.

Style and Format

Use essay format (abstract, introduction, body text--paragraphs, conclusion, reference list). Support for Essay preparation and writing is available at Federation University Library Website https://federation.edu.au/current-students/learning-and-study/online-and-after- hours-support/after-hours-tutoring Please also consult any relevant information on the subject Moodle site.

Use the APA reference system - that is, use author& last name and date for in- text citations (and include the page number if you use a direct quote), and make sure your reference list is formatted in alphabetical order of authors’ last names. For more information on referencing, refer to: The student sport info in the Moodle Shell.

Detailed information

Select a nationally well-known Australian domestic company and write an essay on challenges and opportunities that exist for it to go global.

Solution

Introduction

Telstra Corporation Limited serves as a leader in telecommunications and technology across Australia, and a global player delivering telecommunication services featuring fixed-line telephony, mobile, broadband, and televisions (Zhu, 2020). Telstra’s development and diversification are important because the company has to respond to various difficulties in today’s unpredictable world. The article by Gordon Orr describes the global economy. It focuses on issues such as the deceleration of economic growth, the emergence of technology as a disruptor, and changes in consumer behavior across the globe. The study focuses on the insight of China and its impact on the world markets as well as the aspect of strategic agility for business organizations. Altogether these ideas unveil the challenges that Telstra encounters when trying to increase productivity, being innovative, and adjusting to the market. The more Telstra extends its reach to the international market, the firm needs to sync its plans with these developments to remain the dominant firm in the telecommunication industry.

Article Summary

The article became the primary source of the present work as it gives a profound understanding of the hedging issues that international businesses face regarding corruption, especially in emerging economies (Zhu, 2020). One’s extensive experience as a senior executive in South Asia categorizes corruption into four broad types: bribes, speed money, extortion, and embezzlement. The article's author emphasizes that even reputable MNCs with codes of conduct, policies, and controls in place can stumble on such problems because of the nature of the pressures in these markets. The debate is about bribes in which companies make payments to get business contracts, and regulatory approvals, to minimize taxes, or to avoid customs charges (Venkatesan, 2015). Even when the laws against such actions are the U. S. Foreign Corrupt Practices Act (FCPA) and the U.K. Bribery Act, companies learn how to make these payments indirectly by using agents or by contributing to charitable foundations that are related to the officials. These demands may be counterbalanced by a company’s reputation for ethical practices, which can form a shield over time.

The type of bribery scheme is the so-called speed money or grease payments made to obtain quick turnaround on regular business-as-usual services (Podger, 2024).

Although such payments are prohibited by the laws of many countries, including India and the U.K., they can appear useful in business. The author also comments on the fact that while such payments may appear to be inevitable, they have to be clear and signed off by legal advisors at the company’s headquarters. The subsector is extortion in which businesses are threatened by corrupt politicians or bureaucrats generally in countries with a poor legal environment. They are quite complex because the threats could be real, and one is dealing with the safety of workers. The author opines that, although such scenarios admit no room for guessing and are best handled after seeking approval from the relevant authorities. One type of fraud is employee fraud, recognized by the author as a trend that is escalating.

This includes practices like kickbacks, channel stuffing, and other kinds of manipulation of employees’ financial performances usually motivated by the need to meet some set financial performance benchmarks. The author underlines that Texas organization has a well-developed bureaucratic culture and in turn effective internal control system can effectively respond to this type of corruption (Mohamed, 2023). The author emphasizes that promoting ethics and compliance culture within organizations is the key to preventing these various forms of corruption. Companies are encouraged to extend the processes of policy and control to key functions of the company such as finance and legal functions, to locate where in the company local success is most likely to originate, and to understand and be willing to accept higher short-term costs of doing the right thing (Venkatesan, 2015). The author states that it is possible to achieve success in emerging markets while retaining high ethical standards, but this is only possible if the members of the top management stand behind the anti-corrupt standards, and discourage unethical behaviour for university assignment help.

In the article, “What Could Happen in China in 2015”, Gordon Orr presents a conceptual examination and forecast of economic, political, and social arenas in China (Madsen and Percy, 2020). The author continues to counter that despite the acknowledged slowdown in China‘s economic growth increased volatility, and rising competition, the country is rock solid because of the articulated plans and policies spearheaded by the leaders. This article expounds on some trends that are set to persist and have an influence that year, the need to enhance the efficiency of productivity, continuing technology effect on most job losses, push for reduced pollution more construction of high-speed rail (Gordon Orr, 2014). Study systematically outline the nature and trends of change in the Chinese economy with special reference to wages and employment. It forecast that in 2015 China’s annual income growth rate will be the lowest that it has been in at least ten years which has a major implication in all sectors.

For instance, manufacturing wages have skyrocketed within the last decade, which is unsuitale for the economy. The leading agent of employment generation, the private sector has been experiencing pressures of cost-cutting within which wage costs are significant along with transformation due to technological changes and competition (Bently, 2021). The government shall incline towards the quality of the jobs created especially in the service industries. It also raised the issue of the possibility of consumer confidence to reduce as an effect of these economic constraints (Gordon Orr, 2014). This is likely to be compounded by slower wage gains, declining housing prices, and fewer appealing investment opportunities due to which the Chinese consumers will have to re-think their spending, lowering the pace of increase in voluntary spending.

It could have a domino by considering that spending has been one of the main contributors to the Gross Domestic Product in the past few years. Orr goes much deeper into understanding the roles that innovation and the rule of law will play in China’s projected future . By maintining that there is going to be more awareness of Innovative China in 2015 especially in the biotech, pharmaceuticals electronics, and telecommunications industries. Chinese companies are no longer merely under-pricing their products but are offering quality products that are being accepted all over the world (Madsen and Percy, 2020). The government’s continuing commitment to anticorruption measures and the rule of law promises to exert a sustainable influence on the commercial standards and regulatory choices within the country (Gordon Orr, 2014). Chinese companies are actively investing overseas now, and as more flight connections between China and other cities with crucial global centers appear, the Chinese role in the global world is expected to increase. But this expansion has its problems, especially as firms and metropolitan areas have to grapple with the reality of new, slower rates of growth and greater competition.

Telstra Corporation Limited is one of the largest telecommunication and technology Companies in Australia which has been holding a significant position in the international telecommunication industry for a long time. As an integrated telecommunications and information services company, fixed and mobile telephony, broadband services, and televisions (Bently, 2021). Telstra serves as an essential link between people, businesses, and communities in Australia and globally. The company genuinely aligns with the world of today and the future in that it specializes in innovation and technology in a world that is constantly transforming digitally (Telstra, 2024). Relating Telstra’s strategic plan to the two articles, one gets a feeling that the organization operates in a rather complicated environment that has slow economic growth, disruptive technologies, and changing consumer behavior globally.

Some prognosis indicates in an economically unpredictable and technologically dynamic world, achieving profitability is a frightening task, it is equally true for Telstra that it has to strive for better efficacy and effectiveness (Adlington and Eaton, 2021). The study on the changing role of Chinese innovation provides fodder for the fact that Telstra cannot afford to swim with the tide but it has to swim with innovation. The article aims to the significance of strategic flexibility which is imperative, especially for a company like Telstra that is ever exerting efforts to broaden its operations in the global market as well as in investing in more progressive technologies.

Conclusion

Telstra Corporation Limited is at the crossroads of global economic realities and pressures, and the need to assert strategic relevance in the wake of constant technological breakthroughs. Continuing with the trends from Gordon Orr, the slowing of growth in the global economy as well as the astounding advance in technology means that productivity must be improved and consumer behavior learned and modified by Telstra. It focuses on the research of Chinese innovation, which also underlines the importance of the strategic management of flexibility to sustain competitive advantage in a rapidly evolving international environment. Telstra, it is crucial to adopt ideas as a cardinal point in the ability of the firm to manage the competitive landscape of the telecommunications business. Through strategic use of technology and acute analysis of global markets, it will be possible for Telstra to overcome challenges embrace opportunities, and continue to expand in an environment that is characterized by ever-increasing competition.

Reference

Gordon Orr. (2014). What could happen in China in 2015? | McKinsey. Www.mckinsey.com. https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/what-could-happen-in-china-in-2015

Telstra. (2024). Telstra - Our company. Telstra. https://www.telstra.com.au/aboutus/our-company

Venkatesan, R. (2015). Confronting corruption. https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Corporate%20Social%20Responsibility/

Confronting%20corruption/Confronting%20corruption.pdf

Adlington, A. and Eaton, S. (2021). Contract Cheating in Canada: Exploring Legislative Options. [online] Available at: https://prism.ucalgary.ca/bitstreams/33a71799-3c33-4abf-82eb-6f9ff74b1831/download [Accessed 17 Aug. 2024].

Bently, L. (2021). THE PAST, PRESENT AND FUTURE OF THE CAMBRIDGE LAW JOURNAL. The Cambridge Law Journal, 80(S1), pp.S8–S32. doi:https://doi.org/10.1017/s0008197321000660.

Madsen, A. and Percy, M. (2020). Telecommunications infrastructure in Australia. Australian Journal of Social Issues, 55(2), pp.218–238. doi:https://doi.org/10.1002/ajs4.121.

Mohamed, H.O.A. (2023). Basket data-driven forecasting and inventory management for omnichannel supply chain. [online] theses.hal.science. Available at: https://theses.hal.science/tel-04429514/.

Podger, A. (2024). Public Administration Developments in Australia: Lessons an NPM Leader Might Draw from NWS. Journal of Policy Studies, [online] 39(2). doi:https://doi.org/10.52372/jps39206.

Zhu, C.W. (2020). Adjudicating sartorial elegance from the court – the sumptuary impulse in the law of modern sports sponsorship against ambush marketing. Queen Mary Journal of Intellectual Property, 10(1), pp.62–86. doi:https://doi.org/10.4337/qmjip.2020.01.03.

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