BOK Summary Matrix of Artifact 7. Management Coursework

BOK Summary Matrix of Artifact 7
Author Name(s), First M. Last, Omit Titles and Degrees
Institutional Affiliation(s)
Summary
The main activity in the paper (artifact 7) was to research into the global forces that influence the relevance and competitiveness of modern-day firms. Globalization has opened up the global market, with thousands of multinational enterprises running operations in different world corners. With this expansion comes a series of forces that can determine the survival of these MNEs on the global market. Some of the forces include government policy & regulations, individual governments' tax structures, and interest rates. Additionally, these companies are increasingly exposed to natural disasters such as floods and earthquakes. These are potential threats to business operations of which companies should be aware and plan for. Despite all these obstacles, companies must maintain a good relationship with consumers regardless of the consumer's region, country, religion, race, or ethnicity and adhering to local regulations.
Knowledge/Application Area: Customer Relationship Management
Maintaining a good relationship with the customers is among the key objectives of any profit-making enterprise. Given the threats posed by the forces shaping global business besides the increasing natural disasters, companies will want to maintain a loyal customer base now more than ever. Among the mitigation measures on this aspect is the development of regional trading blocs such as the “One Belt and One Road” project in Asia (Cainey, 2018). While this could solve obstacles posed by taxation, government policy, and interest rates, the ultimate priority of any MNE is to establish a reliable market base which can provide insurance against natural the threat of natural disaster. Companies are increasingly striving to tailor their products with the needs and cultures of the diverse global population to remain relevant in foreign markets. Chinese mobile phone manufacturers, for instance, have products specifically for African countries based on pricing because developing nations have consumer...