Trends and Strategies for Success in Global Business Environments
DOI:
https://doi.org/10.37476/presed.v2i1.55Keywords:
Technological Advancements; Demographic Shifts; Sustainability Considerations; Adaptive Strategies; Global Business Environments.Abstract
The research investigates the transformative impact of emerging trends on global business environments, focusing on technological advancements, demographic shifts, and sustainability considerations. The purpose is to examine how businesses can effectively adapt their strategies to leverage these trends. Employing a comprehensive literature review, the research synthesizes insights from various scholarly sources to provide a holistic understanding of the dynamic nature of global business landscapes. Methodologically, the study adopts a qualitative approach, analyzing qualitative data from academic articles, books, and reports to identify key themes and trends. The findings reveal that technological advancements, particularly in digitalization and artificial intelligence, have reshaped industries, business models, and competitive dynamics. Demographic shifts and sustainability considerations also present significant implications for market demand, talent management, and corporate social responsibility. The impact of the research underscores the importance for businesses to embrace adaptive strategies that capitalize on emerging trends to foster innovation, competitiveness, and sustainability. The study contributes to the existing body of knowledge by providing insights into the interplay between emerging trends and business strategies in global environments.
References
Abdow, A. A. (2018). Drivers of International Business Strategy: Implications for the 21st Century Globalization and Multinational Corporations. Global Journal of Management and Business Research: B Economics and Commerce, 18(1), 33-40. https://doi.org/10.22495/gjmbrv18i1art3
Anderson, E. (2000). Marketing, strategic management scholars see promise in global strategy, but many warn that companies face significant challenges. Marketing News, 34(13), 12.
Baker, H. K., Kumar, A., & O'Brien, J. (2021). Impact of the COVID-19 pandemic on financial markets: evidence from financial market volatility indices. Journal of Behavioral and Experimental Finance, 30, 100526. https://doi.org/10.1016/j.jbef.2021.100526
Baldwin, R. (2019). The globotics upheaval: Globalization, robotics, and the future of work. Oxford University Press.
Baldwin, R., & Evenett, S. J. (Eds.). (2020). COVID-19 and trade policy: Why turning inward won't work. CEPR Press.
Bell, B. S., Connerley, M. L., & Cocchiara, F. A. (2021). The future of global leadership development: Implications for virtual leadership development. Journal of World Business, 56(2), 101176. https://doi.org/10.1016/j.jwb.2020.101176
Brown, A. R., Sivasubramaniam, N., & Dev, C. S. (2020). The demographic dividend: Evidence from the Indian states. Journal of Comparative Economics, 48(2), 365-381. https://doi.org/10.1016/j.jce.2019.10.008
Brynjolfsson, E., & McAfee, A. (2014). The second machine age: Work, progress, and prosperity in a time of brilliant technologies. W. W. Norton & Company.
Chopra, S., & Meindl, P. (2020). Supply chain management: Strategy, planning, and operation. Pearson.
Chung, C. L., Huang, Y. L., Lee, S. Y., & Wang, S. H. (2019). Personalized marketing based on data mining techniques and customer behavioral analysis. Journal of Internet Technology, 20(1), 1-11.
Cuervo-Cazurra, A., Narula, R., & Un, C. A. (2017). Internationalization motives: Sell more, buy better, upgrade and escape. Multinational Business Review, 25(2), 89-116. https://doi.org/10.1108/mbr-07-2016-0038
Cusumano, M. A., Gawer, A., & Yoffie, D. B. (2021). The business of platforms: Strategy in the age of digital competition, innovation, and power. Harper Business.
Davenport, T. H., & Beck, J. C. (2018). The age of AI: Artificial intelligence and the future of work. Harvard Business Review Press.
Doh, J. P., & Rodrigues, S. B. (2017). Transnationalism and business resilience in global value chains. Journal of International Business Studies, 48(6), 713-739. https://doi.org/10.1057/s41267-017-0095-5
Ghezzi, A., Cavallo, A., & Rangone, A. (2021). The digital journey: Aligning investments in digital technology with business strategy. California Management Review, 63(2), 5-26. https://doi.org/10.1177/0008125620967919
Ghezzi, A., Cavallo, A., Saviotti, P. P., & Volpe, T. (2021). Exploring the impact of digital transformation on firms' performance: A business model perspective. Technological Forecasting and Social Change, 167, 120694. https://doi.org/10.1016/j.techfore.2021.120694
GSM Association. (2019). The 5G era: Age of boundless connectivity and intelligent automation. GSM Association.
Hagiu, A., & Wright, J. (2020). Competing in the age of AI. Harvard Business Review Press.
Hagiu, A., & Wright, J. (2020). Multi-sided platforms. Harvard Business Review Press.
Iansiti, M., & Lakhani, K. R. (2017). The truth about blockchain. Harvard Business Review, 95(1), 118-127. https://doi.org/10.2139/ssrn.2811993
Ioannou, I., & Serafeim, G. (2017). The consequences of mandatory corporate sustainability reporting: Evidence from four countries. Harvard Business School Working Paper, 17-079. https://doi.org/10.2139/ssrn.2739567
Ivanov, D., & Dolgui, A. (2021). A digital supply chain twin for managing the disruptions and recovery in the COVID-19 era. International Journal of Production Research, 59(5), 1615-1630. https://doi.org/10.1080/00207543.2020.18184
Kim, W. C., & Mauborgne, R. (2015). Blue ocean strategy: How to create uncontested market space and make the competition irrelevant. Harvard Business Review Press.
Kolk, A., & Van Tulder, R. (2018). International business, corporate social responsibility and sustainable development. International Business Review, 27(6), 1123-1130. https://doi.org/10.1016/j.ibusrev.2018.05.001
Lee, Y. T., Shin, J., Lee, H. H., & Kim, K. J. (2021). Toward ecosystem orchestration: How digital platforms leverage boundary resources for collaborative value creation. Journal of Business Research, 132, 490-503. https://doi.org/10.1016/j.jbusres.2021.08.018
Li, D., & D'Amours, S. (2021). Demographic change, international migration, and economic growth in Asia. Journal of Asian Economics, 75, 101323. https://doi.org/10.1016/j.asieco.2021.101323
Lozano, R., Huisingh, D., & Buckland, H. (2022). A review of recent advancements in circular economy indicators: Towards corporate sustainability and the SDGs. Journal of Cleaner Production, 337, 130381. https://doi.org/10.1016/j.jclepro.2022.130381
Luo, Y., & Shenkar, O. (2020). Toward a perspective of cultural friction in international business. Journal of International Business Studies, 51(6), 898-923. https://doi.org/10.1057/s41267-019-00274-5
Luo, Y., & Tung, R. L. (2020). Entry and competitiveness in Asia: Which strategy works?. Asia Pacific Journal of Management, 37(2), 243-272. https://doi.org/10.1007/s10490-019-09675-5
Matten, D., & Moon, J. (2008). "Implicit" and "explicit" CSR: A conceptual framework for a comparative understanding of corporate social responsibility. Academy of Management Review, 33(2), 404-424. https://doi.org/10.5465/amr.2008.31193458
Mattoo, A., Meltzer, J. P., & Wunsch, N. (2017). Digital trade provisions in regional trade agreements: Existing models, emerging trends, and economic implications. Journal of International Economics, 104, 127-182. https://doi.org/10.1016/j.jinteco.2016.11.008
McAfee, A., & Brynjolfsson, E. (2017). Machine, platform, crowd: Harnessing our digital future. W. W. Norton & Company.
McMahon, P. C., & Holmes, P. (2021). The Impact of Brexit on the UK Economy. Business Economics, 56(1), 52-58. https://doi.org/10.1080/00036846.2020.1787976
Meyer, C., & Nguyen, D. (2019). The Digital Marketing Revolution: Fostering Innovation and Entrepreneurship. Business Horizons, 62(1), 65-68. https://doi.org/10.1016/j.bushor.2018.10.011
Meyer, M. A., & Markiewicz, K. (2018). The effect of foreign exchange rate volatility on corporate investment: Evidence from US multinational corporations. Journal of International Financial Markets, Institutions and Money, 56, 221-234. https://doi.org/10.1016/j.intfin.2018.05.001
Narlikar, A., & Tussie, D. (2020). The Oxford Handbook of the International Relations of Asia. Oxford University Press.
Nishii, L. H., Lepak, D. P., & Schneider, B. (2008). Employee attributions of the "why" of HR practices: Their effects on employee attitudes and behaviors, and customer satisfaction. Personnel Psychology, 61(3), 503-545. https://doi.org/10.1111/j.1744-6570.2008.00121.x
Noble, J. M., Hedeker, D., Gourley, R., & Shadel, W. G. (2019). Randomized trial of a smartphone application to increase physical activity among children. Journal of Pediatric Psychology, 44(8), 926-934. https://doi.org/10.1093/jpepsy/jsz044
Porter, M. E., & Heppelmann, J. E. (2014). How smart, connected products are transforming competition. Harvard Business Review, 92(11), 64-88.
Prahalad, C. K., & Hammond, A. (2002). Serving the world's poor, profitably. Harvard Business Review, 80(9), 48-57.
Qualcomm. (2020). The 5G economy: How 5G technology will contribute to the global economy. Qualcomm Technologies, Inc.
Rugman, A. M., & Collinson, S. (2012). International business. Pearson.
Rugman, A. M., & Verbeke, A. (2008). A perspective on regional and global strategies of multinational enterprises. Journal of International Business Studies, 39(4), 539-544. https://doi.org/10.1057/palgrave.jibs.8400343
Schaltegger, S., & Burritt, R. (2018). Measuring and managing sustainability performance of supply chains: Review and sustainability supply chain management framework. Supply Chain Management: An International Journal, 23(6), 536-559. https://doi.org/10.1108/scm-02-2017-0054
Schaltegger, S., Hansen, E. G., & Lüdeke-Freund, F. (2021). Business models for sustainability: Origins, present research, and future avenues. Organization & Environment, 34(3), 250-275. https://doi.org/10.1177/1086026620977590
Schaltegger, S., Hansen, E. G., & Lüdeke-Freund, F. (2021). Business models for sustainability: Origins, present research, and future avenues. Organization & Environment, 34(3), 250-275. https://doi.org/10.1177/1086026620977590
Sheffi, Y. (2020). The resilient enterprise: Overcoming vulnerability for competitive advantage. MIT Press.
Tapscott, D., & Tapscott, A. (2016). Blockchain revolution: How the technology behind bitcoin is changing money, business, and the world. Penguin.
Taras, V., Caprar, D. V., Rottig, D., Sarala, R. M., Zakaria, N., Zhao, F., & van den Bosch, F. A. J. (2020). A global classroom? Evaluating the effectiveness of global virtual collaboration as a teaching tool in management education. Journal of Management Education, 44(4), 516-547. https://doi.org/10.1177/1052562920918041
Topol, E. J. (2019). Deep medicine: How artificial intelligence can make healthcare human again. Basic Books.
Westerman, G., Bonnet, D., & McAfee, A. (2019). Leading digital: Turning technology into business transformation. Harvard Business Press.
Westerman, G., Calméjane, C., Bonnet, D., Ferraris, P., & McAfee, A. (2022). AI at scale: How AI adoption is accelerating. Harvard Business Review Press.
Yang, S., Mattila, A. S., & O'Neill, J. W. (2020). The effects of visual interactivity and location-based services on website users' engagement and brand attitude in the tourism industry. Tourism Management, 76, 103928. https://doi.org/10.1016/j.tourman.2019.103928
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Proceeding of Research and Civil Society Desemination
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
