The Impact of Globalization on Organizational Strategy and Decision Making: An Empirical Study

Abstract

The necessity for businesses to develop globally is one of the most important effects of globalisation on organisational strategy. As a result, international supply networks have emerged, and businesses now need to adjust to shifting social, legal, and political contexts. Additionally, the rise in competition as a result of globalisation has forced businesses to adopt more creative and adaptable business strategies in order to stay competitive. Globalisation has also had an impact on organisational decision-making since organisations now have to take into account a wider range of stakeholders in the decision-making processes, such as consumers, employees, suppliers, and communities. In addition, as organisations are expected to operate in a socially and environmentally responsible way, globalisation has led to a greater emphasis on corporate social responsibility. In general, the effects of globalisation on organisational strategy and decision-making have been significant, necessitating the adoption of more creative and adaptable strategies by organisations in order to cope with rapidly changing global settings. In order to stay competitive and sustainable over the long term, organisations must continue to change the strategies and decision-making procedures as globalisation continues to shape the global marketplace.