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Understandingthe Global World and How to succeed in it
The international market provides various business opportunities thatorganizations in the world can explore. However, as they plan onexploring the global world, they need to focus on elements that shallensure the success of their ventures. The paper seeks to investigateJapan to understand the global world and how to succeed in it. Itshall begin by discussing the trend of globalization in Japan byfocusing on Softbank’s acquisition of Sprint Corporation andSuntory’s purchase of Jim Beam. It shall then explain theimportance of global human resources in Japan and interpret the ideaof a global mindset. It shall conclude by identifying the qualitiesthat are considered essential to work in an internationalenvironment.
An analysis of the globalization trend in Japan indicates that thecountry is committed to exploring the global market. For instance,after Japan’s Softbank Corporation completed its acquisition ofSprint Corporation in 2013, it later bought additional shares in2015, which increased its percentage of ownership (Ajmera &Shumaker, n. p). The bank’s investment decision indicates thatJapan is interested in pursuing globalization because Sprint’sperformance in the economy had made the institution lose confidence.However, its promotions and offers had resulted in increasedcustomers that imply that its performance is likely to improve.Besides, by focusing on Suntory’s acquisition of Jim Beam, it isevident that Japan is focused on diversification in the internationalmarket. Suntory planned on running the acquired company from Chicagowhere its headquarters are based as well as working with theorganization’s employees in promoting the growth of the business(Suntory Holdings Ltd, n. p). Integrating the local employeessupports globalization as it allows the management to understandlocal cultures and business practices that they may incorporate intothe management of its corporation.
The globalization trend in Japan has been increasing with local firmsdeveloping into international organizations and establishing globalnetworks. The trend in Japan requires managers to consider globalhuman resource management because it allows them properly to handlethe increased diversity in the workforce and sensitive culturalpractices among employees (Sheehan & Sparrow, 2399). Humanresource management is also essential in achieving excellentperformance because it addresses the needs of the employees who canmeet the demands of the target market.
The idea of a global mindset that is based on knowledge,communication, and attitude implies that companies in Japan that arejoining the international market need to conduct research on theglobal world. The investigation allows them to have adequateknowledge that they can apply in making informed decisions andplanning. Besides, the firms need to set up an efficientcommunication system since the network and stakeholders are expectedto broaden. Finally, the Japanese organizations need to join theglobal market with a positive attitude because they are likely toencounter stiff challenges such as increased competition, cultureshock, increased risks that may discourage them.
When working in an international environment, one is required to behighly flexible to accommodate any changes they encounter. Anindividual should also be open-minded to new approaches and solutionsto problems. A person also needs to be patient, ready to listen, andcurious as it enables them to learn and appreciate the varioussituations one encounters in the new environment (Asakawa, 1165).
Ajmera, Ankit, and Shumaker Lisa. “ SoftBank acquires more sharesin Sprint for about $87 million.” Reuters Business News 12.8(2015). Retrieved fromhttp://www.reuters.com/article/us-sprint-corp-shareholders-softbank-gro-idUSKCN0QI00F20150813
Asakawa, Kazuhiro, et al. "Internationalization in Japan`sService Industries." Asia Pacific Journal of Management30.4 (2013): 1155-1168.
Sheehan, Maura, and Paul Sparrow. "Introduction: Global HumanResource Management And Economic Change: A Multiple Level Of AnalysisResearch Agenda." International Journal of Human ResourceManagement 23.12 (2012): 2393-2403.
Suntory Holdings Ltd. “Suntory Holdings to acquire Beam in $16Billion Transaction.” Online News 13.1 (2014): No.11942.Retrieved from http://www.suntory.com/news/2014/11942.html