Globalization and Varieties of Capitalism - MyAssignmenthelp.com

Question: Discuss about the Globalization and Varieties of Capitalism. Answer: Introduction: For Siemens Company to remain relevant in its business operations concerning globalization, it needs to integrate different business strategies such as customization, competencies, along with arbitrage. The company can focus on the creation of their global strategies around the trade-offs while limiting the past compromises (Fritsch, 2015). The company should centralize its intellectual power and innovation capability at domestic markets. The idea will allow the Siemens Company to achieve the packed benefits of economies of balance and to incorporate shared principles, excellence standards, and uniqueness of its brands in global markets. Additionally, the company can embrace the ideas of decentralizing its operations and run such operations as a loose federation (Nafei, 2016). These practices will make the company achieve local appropriate delievry system with fast countering chains of supply and the inferior cost of promising administration of the market. Therefore, Siemens should s hift its errands for naming of brand as well as product arrays to the margin while accepting various changes in trades. The use of effective business strategies is essential in enhancing the performance of Siemens Company to improve its competing practices in turbulent as well as unpredictable environments. Siemens can focus on the provision of guidance on indicators for sustainable manufacturing. The company can focus on establishing clarity as well as the consistency of present sign set by emerging the usual terms and understanding of symbols and application. Besides, Siemens can adopt the practice of identifying promising strategies for eco-modernization (Fritsch, 2015). The idea of cautious assessment of the execution of different policy actions by Siemens for eco-innovation could be useful for identifying promising strategies for eco-modernization. The company can also focus on business ideas of building the shared vision for eco-innovation. The management of Siemens could be essential in filling the slit in the knowledge of eco-innovation by co-ordinating in-depth case studies. Creation of share d business vision by the company could outline the basis for emergent of the shared operations for environmentally communal schemes and roadmap to attaining the set business goals by the corporation. Additionally, Siemens can focus on business practices of developing a standard definition and the scoreboard of their operations (Rieley, 2014). With the development of substantial insight, Siemens Company can deem the progress of the shared description of eco- modernization together with an eco- modernization scoreboard for benchmarking eco- modernization actions and public strategies through the combination of various data and statistics. Management of the Siemens Company needs to focus on business ideas that match the competitive advantages of their new global rivals. The business operations of the company should embrace the ideas of searching lower labor cost rationalizing its product lines that are essential in capturing global scale economies, instituting quality circles and timely production, alow with the adoption of best human resource practices in the business environment (Fritsch, 2015). Siemen should adopt practices of environmental scanning wherever the management plans to enter into the new marketplaces because globalization affects the level of competition as the expectation of consumption increases. The company can aim at improving its customer service in globalized society by focusing on maintaining delivery of quality service and improving the values of corporates (Sharma, 204). The ideas will aid in guiding operations of Siemens to protect its credibility and integrity of its operations in the globali zed business environment. References Fritsch, S. (2015). Technological innovation, globalization, and varieties of capitalism: the case of Siemens AG as example for contingent institutional adaptation. Business And Politics, 17(01), 125-159. https://dx.doi.org/10.1515/bap-2014-0020 Nafei, W. (2016). Organizational Agility: The Key to Improve Organizational Performance. International Business Research, 9(3), 97. https://dx.doi.org/10.5539/ibr.v9n3p97 Rieley, J. (2014). Building Alignment to Improve Organizational Effectiveness. Global Business And Organizational Excellence, 33(5), 6-16. https://dx.doi.org/10.1002/joe.21559 Sharma, E. (2014). Personality Mapping Wand to Organizational Performance. Journal Of Business Theory And Practice, 2(1), 13. https://dx.doi.org/10.22158/jbtp.v2n1p13