Description
Reply to Globalization and Decision-Making Discussion 1
Q – Please read the discussion below and prepare a Reply to this discussion post with comments that further and advance the discussion topic.
Please provide the references you used.
Ensure zero plagiarism.
Word limit: 130 words
Discussion
Globalization has substantially transformed most aspects of societal life. The corporate world, in particular, has been significantly impacted by globalization. Decision-making is among the areas affected by globalization. Specifically, it shapes decision-making by forcing organizations to account for global trends, market trends, and cultural sensitivities when they are making decisions (Luthans & Doh, 2021). Furthermore, these considerations often result in complicated decision-making processes because of the interconnectedness of international markets and the need to balance different worldviews across borders (Luthans & Doh, 2021). Saudi Arabia’s position as a vital player in global oil markets, coupled with its ambitious Vision 2030 reform plan, demonstrates how globalization shapes strategic decision-making, with interlinked economies, cultures, and technologies influencing governmental, individual, and business choices.
Impact of the Interconnectedness of Economies, Cultures, and Technologies on a Global Scale Influences the Choices made by Governments, Businesses, and Individuals in Saudi Arabia
As argued in the introductory part of the paper, the interconnectedness of economies, cultures, and technologies on a global scale informs the choices made by the Saudi government, Saudis, and businesses in Saudi Arabia. Globalization has led to the interconnectedness of economies. Thanks to this, strategic trade policies and investment decisions have to be made. Furthermore, Saudi Arabia relies heavily on oil exports (Neil & Sprusansky, 2017). They account for a large percentage of its GDP. Due to this, the Saudi government must ensure its export decisions are aligned with global oil demands and prices (Harvey et al., 2009). Besides this, fluctuations in oil prices have forced the Saudi government to diversify the country’s economy to mitigate vulnerability to global market shocks. Globalization has also triggered global cultural exchanges (Luthans & Doh, 2021). These exchanges are changing societal expectations and consumer behaviors in Saudi Arabia. Thanks to these changes, Saudi Arabia is adopting reforms designed to modernize its society while balancing traditional values. Lastly, rapid technological advancements are allowing businesses in Saudi Arabia and the government to arrive at informed and data-driven decisions. Additionally, technological globalization has advanced initiatives like NEOM. It is a smart city project under the Vision 2030 umbrella that integrates the use of advanced technology and sustainability (Nurunnabi, 2017).
How Saudi Arabia’s Unique Position in the Global Landscape Shapes Its Decision-Making Processes and the Implications of these Decisions on both Local and International Levels
Saudi Arabia is among the leading producers of oil across the globe. This, coupled with its OPEC membership, means that the policies adopted and decisions made by the Saudi government have an effect on global energy markets (Neil & Sprusansky, 2017). For example, decisions on production quotas have an impact on global oil prices and energy security. This phenomenon affects the country’s relationships with major economies like China and the United States (Neil & Sprusansky, 2017). Furthermore, Saudi Vision 2030 seeks to reduce reliance on oil revenues to a knowledge-based economy that also promotes foreign investments, tourism, and technological advancements (Nurunnabi, 2017). This vision shows how global trends and competition force decision-making alignment between Saudi Arabian and global economic standards. Besides this, Vision 2030 prioritizes easing social restrictions to attract global talent and investments (Neil & Sprusansky, 2017). For example, reforms that allowed women to drive, coupled with changes in entertainment policies, reflect the influence of global societal trends in Saudi Arabia. Even though the country’s economic diversification strategies generate employment and decrease its reliance on oil, such reforms must also deal with issues like workforce skill gaps and cultural adaptation (Harvey et al., 2009).
Conclusion
Globalization has a significant impact on decision-making and strategy. It increases the complexity of decision-making and makes strategy formulation and implementation challenging. In Saudi Arabia’s case, it affects decision-making processes by ensuring that global economic, cultural, and technological considerations are incorporated into local strategies. Furthermore, Saudi Arabia’s unique position in global energy markets and Vision 2030’s alignment with global trends show the interplay between global pressures and local reforms. These decisions significantly affect the country’s domestic growth and the influence it has on the global stage.
References
Luthans, F., & Doh, J.P. (2021). International Management: Culture, Strategy, and Behavior (11th edition). McGraw-Hill.
Harvey, M., Fisher, R., McPhail, R., & Moeller, M. (2009). Globalization and its impact on global managers’ decision processes. Human Resource Development International, 12(4), 353-370. https://doi.org/10.1080/13678860903135730.
Neil, E., & Sprusansky, D. (2017). A look at Saudi Arabia Vision 2030. (WAGING PEACE). Washington Report on Middle East Affairs, 36(1), 53-54.
Nurunnabi, M. (2017). Transformation from an oil-based economy to a knowledge-based economy in Saudi Arabia: the direction of Saudi vision 2030. Journal of the Knowledge Economy, 8, 536-564. https://doi.org/10.1007/s13132-017-0479-8.
Discussion 1
Q – Please read the discussion below and prepare a Reply to this discussion post with
comments that further and advance the discussion topic.
Please provide the references you used.
Ensure zero plagiarism.
Word limit: 130 words
Discussion
Globalization has substantially transformed most aspects of societal life. The corporate world, in
particular, has been significantly impacted by globalization. Decision-making is among the areas
affected by globalization. Specifically, it shapes decision-making by forcing organizations to account for
global trends, market trends, and cultural sensitivities when they are making decisions (Luthans & Doh,
2021). Furthermore, these considerations often result in complicated decision-making processes
because of the interconnectedness of international markets and the need to balance different
worldviews across borders (Luthans & Doh, 2021). Saudi Arabia’s position as a vital player in global oil
markets, coupled with its ambitious Vision 2030 reform plan, demonstrates how globalization shapes
strategic decision-making, with interlinked economies, cultures, and technologies influencing
governmental, individual, and business choices.
Impact of the Interconnectedness of Economies, Cultures, and Technologies on a Global Scale
Influences the Choices made by Governments, Businesses, and Individuals in Saudi Arabia
As argued in the introductory part of the paper, the interconnectedness of economies, cultures, and
technologies on a global scale informs the choices made by the Saudi government, Saudis, and
businesses in Saudi Arabia. Globalization has led to the interconnectedness of economies. Thanks to
this, strategic trade policies and investment decisions have to be made. Furthermore, Saudi Arabia
relies heavily on oil exports (Neil & Sprusansky, 2017). They account for a large percentage of its GDP.
Due to this, the Saudi government must ensure its export decisions are aligned with global oil demands
and prices (Harvey et al., 2009). Besides this, fluctuations in oil prices have forced the Saudi
government to diversify the country’s economy to mitigate vulnerability to global market shocks.
Globalization has also triggered global cultural exchanges (Luthans & Doh, 2021). These exchanges
are changing societal expectations and consumer behaviors in Saudi Arabia. Thanks to these changes,
Saudi Arabia is adopting reforms designed to modernize its society while balancing traditional values.
Lastly, rapid technological advancements are allowing businesses in Saudi Arabia and the government
to arrive at informed and data-driven decisions. Additionally, technological globalization has advanced
initiatives like NEOM. It is a smart city project under the Vision 2030 umbrella that integrates the use of
advanced technology and sustainability (Nurunnabi, 2017).
How Saudi Arabia’s Unique Position in the Global Landscape Shapes Its Decision-Making
Processes and the Implications of these Decisions on both Local and International Levels
Saudi Arabia is among the leading producers of oil across the globe. This, coupled with its OPEC
membership, means that the policies adopted and decisions made by the Saudi government have an
effect on global energy markets (Neil & Sprusansky, 2017). For example, decisions on production
quotas have an impact on global oil prices and energy security. This phenomenon affects the country’s
relationships with major economies like China and the United States (Neil & Sprusansky, 2017).
Furthermore, Saudi Vision 2030 seeks to reduce reliance on oil revenues to a knowledge-based
economy that also promotes foreign investments, tourism, and technological advancements
(Nurunnabi, 2017). This vision shows how global trends and competition force decision-making
alignment between Saudi Arabian and global economic standards. Besides this, Vision 2030 prioritizes
easing social restrictions to attract global talent and investments (Neil & Sprusansky, 2017). For
example, reforms that allowed women to drive, coupled with changes in entertainment policies, reflect
the influence of global societal trends in Saudi Arabia. Even though the country’s economic
diversification strategies generate employment and decrease its reliance on oil, such reforms must also
deal with issues like workforce skill gaps and cultural adaptation (Harvey et al., 2009).
Conclusion
Globalization has a significant impact on decision-making and strategy. It increases the complexity of
decision-making and makes strategy formulation and implementation challenging. In Saudi Arabia’s
case, it affects decision-making processes by ensuring that global economic, cultural, and technological
considerations are incorporated into local strategies. Furthermore, Saudi Arabia’s unique position in
global energy markets and Vision 2030’s alignment with global trends show the interplay between global
pressures and local reforms. These decisions significantly affect the country’s domestic growth and the
influence it has on the global stage.
References
Luthans, F., & Doh, J.P. (2021). International Management: Culture, Strategy, and
Behavior (11th edition). McGraw-Hill.
Harvey, M., Fisher, R., McPhail, R., & Moeller, M. (2009). Globalization and its impact on global
managers’ decision processes. Human Resource Development International, 12(4), 353370.
Neil, E., & Sprusansky, D. (2017). A look at Saudi Arabia Vision 2030. (WAGING
PEACE). Washington Report on Middle East Affairs, 36(1), 53-54.
Nurunnabi, M. (2017). Transformation from an oil-based economy to a knowledge-based economy in
Saudi Arabia: the direction of Saudi vision 2030. Journal of the Knowledge Economy, 8, 536564.
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