Importance of Quick Implementation of Ideas
1.Tom Friedman who wrote the book ‘The World is Flat” answers some of the key issues that are prevalent in the global economy. These ways are massively responsible for giving a new dimension to the lives of people and enabling them to confront new challenges by learning new coping up strategies. In order to discuss the matter at length, Friedman highlights the issue of three convergences which are responsible for exerting an impact on the world of business both in a negative and positive manner. The first convergence is the birth of collaboration in the global arena being a senior decision maker of a firm this benefits me by the easy sharing of knowledge going beyond the traditional barriers of time, language and geography. The unrestricted low of information has surely been a huge benefit for any company representing itself at the global level.
The second convergence is the breakage or dismantling of brick and mortar walls and establishment of a new zone that facilitates a faster making of decisions and changing them into reality. For as senior manager it improves the condition of collaboration by making the communication channels more effective and establish the best decision for the company by involving everyone in the decision making process. The third convergence gives every individual to compete in a healthy manner against anyone and opened the economy to include innovation and change. This could help in outsourcing of employees in order to avoid repeated occurrence of brain drain.
2.The nine rules as enumerated by Friedman helps in understanding the globalized nature of the flat world. The first rule emphasis the quick utilization or manifestation of a idea before anybody else seizes the opportunity to use it. This quick implementation of idea will help the company to stay in a competitive edge and live up to the challenges of the rival firms. Being a senior member of the firm, creating a competitive niche in the market is one of the many responsibilities. If the idea is genuine and inventive it must be protected at all cost against unethical usage by outside sources. The second rule centers round the phenomenon of globalization which indicates that companies have always competed with each other but however, now they are at a advantageous position to compete on a global plane irrespective of geography and language. Individuals can also get easy access to resources, data and information. As a senior, this gives the momentum to understand the need for crafting inventive ideas that would assure superior quality services to the customers. This also implies the benefits of improving business relations with existing as well as new clients.
Advantages of Globalization
The third rule states the importance of seizing new tolls to improve collaboration to attain best market in a global level. This will boost company’s resources and will bring extension as well as creative prospects for further growth of the company. Increased collaboration will help the company gain prospective new customers and markets in the international level which will also accelerate the brand image and associated reputation. The fourth rule states firmly that business should always center round customers and their preferences, in short it should be customer-oriented. This is one of the primary ways by which a firm can increase their competitiveness and plan for new strategies that would make them relevant and attractive to new customers, increasing customer satisfaction as well as customer retention. The fifth rule states that one of the primary characteristics of being a well-reputed and successful company is its talent for collaboration in order to bring forth new ideas and innovation into the market. This is one way of progressing through the market and expanding the business. For a computer firm it is not enough to have superiority and dominance in the local market but also should extend the boundaries to include the entire world as its market. The sixth rule makes it explicate that every company need to thoroughly assess their strengths and weakness, competitive niche in the market and consider whether outsourcing is at all required. This would help the company to tread on the right track. The seventh rule focuses on the importance of outsourcing but it should however also conduct a methodical review in order to check whether it is de-motivating the employees from pouring their best into the organization. According to the eight rule, every business must make its plan viable to its employees and customers before doing so infront of its rival competitors. It is one of the ways ensuring professional handling of business and winning half of the market. As per the ninth rule, in a globalized world the companies have the advantage or position of using the same resources, ideas or opinions, it is however, only with the usage of innovation can one stand out in the market. This differentiation will improve brand identity and creation of a loyal customer base. This would require the company to come up with inventive ideas and tools and not merely depend on scarped out business models to expand the business. Implementation of new models, identification of market trends and future challenges are some of the policies that the company should follow.
Improving Collaboration for Best Market in a Global Level
Some of the pre-requisites of managing company at highest levels are the correct usage of innovation and making the customers aware of it, familiarize with it, something that HP strictly adhered by. The management also requires to supervise the supply chains which will help companies to concentrate more on the market requirements, planning strategies for meeting global rivalry and careful relocation of distribution centers, obtaining new resources and raw materials. An effective supply chain management will help a company to base its operational process on efficiency and fastness. In a flattened world supply chain management will ensure that customers are getting satisfied after purchasing the product, HP used this element to elevate the brand name on a pedestal higher.
3.Carly Fiorina vowed for a complete digitalized world which would bring the world closer and help in the sharing of resources and data without any obstructions. According to me, Friedman’s assessment about her is right. However, Fiorina had previously failed to expand the IT services which attributed to huge loss for HP. Her decision for HP/Comapaq merger failed to give shape to a profitable computer business that they were hoping for. The fact that HP did not incur decent profits is only indicative of the un-predictive nature of the business and not Fiorina’s incapabilities. The merger was primarily sought as a means of doubling up the units of production and the decision had a lot of potential to upgrade the business of HP in market. . She predicted the future of technology which will smoothen the way of doing business, making communications and fast transaction. HP’s decision to eliminate her from the team reflects the uncertainty of business world. Friedman’s theories were not wrong, digital world is an important aspect of globalized world and is the only way by which business can be executed in the competitive market. He points out how technology has been a boon not only in the domain of business but also educational sector. The transforming of words and music globally made possible by steroids impacting on the rate of collaboration while doing business. Fiorina was walking towards the right direction however it is the ever continuous state of flux that the world of business is based upon that made her fall on her own sword. Therefore it can be concluded that Friedman’s theories are not merely theories but the current reality and they cannot be easily ignored.
Freidman, T. (2005). The world is flat. New York: Farrar, Straus and Giroux, 488.
Leamer, E. E. (2007). A flat world, a level playing field, a small world after all, or none of the above? A review of Thomas L Friedman’s The World is Flat. Journal of Economic Literature, 45(1), 83-126.
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