Current Issues in Management: Managing Globalisation in the Case of Halma

CURRENT ISSUES IN MANAGEMENT: MANAGING GLOBALISATION-A CASE OF HALMA
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Current Issues in Management: Managing Globalisation-A Case of Halma
Executive Summary
The purpose of this report is to explore globalisation as a management issue. Specifically, the report examines how Halma manages globalisation in terms of global integration, local responsiveness, access to new markets, currency fluctuations, and diversity. Independent research about the company and the issue is conducted. Based on information obtained from the company’s website and annual reports, this report finds that Halma utilises a multi-domestic strategy that builds on local responsiveness. The report also finds that the company utilizes acquisitions and strategic partnerships to access new markets. Further, it uses currency hedging to manage currency fluctuations and relies on a discrimination-and-fairness approach to manage diversity. Two key recommendations are provided. One, the company should shift to a transnational strategy that gives companies the benefits of both global integration and local responsiveness while minimising the risks of each strategy. Two, the company should integrate the access-and-legitimacy approach in managing diversity to increase its access to niche markets in different countries. The two recommendations will help Halma better manage globalisation and its related issues.
Table of Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc72254523 \h 2Introduction PAGEREF _Toc72254524 \h 4Integration versus Responsiveness PAGEREF _Toc72254525 \h 4Access to New Markets PAGEREF _Toc72254526 \h 6Foreign Currency Fluctuations PAGEREF _Toc72254527 \h 7Diversity PAGEREF _Toc72254528 \h 8Conclusion/ Recommendation PAGEREF _Toc72254529 \h 10References PAGEREF _Toc72254530 \h 12
Introduction
Firms operating in the international markets are faced with a myriad of issues that stem from globalisation. Over the years, technological advancements and changes in government policies have allowed inter-connectedness across the world, thus driving globalisation (Naz & Ahmad, 2018). This paper explores globalisation as a management issue at Halma. Halma is a British multinational group of companies that specialises in safety equipment (Halma, n.d.). It has companies in Australia, Belgium, France, Germany, Italy, Netherlands, United Kingdom (UK), Switzerland, United States (US), Brazil, India, and China. Its success has mainly been as a result of business agility and the ability to identify and enter niche markets around the world. Understanding how companies manage globalisation is a crucial part of understanding how companies change as they move into international markets. This paper will examine integration and responsiveness, new markets, currency fluctuations, and diversity as some of the key issues in globalisation, with a special focus on how Halma has managed those issues. Data for this report will be obtained from secondary sources such as the company’s website and annual reports as well as other relevant scholarly materials.
Integration versus Responsiveness
According to Johnson et al. (2014, p.270), global firms have to ...