International Business Management Control Essay

International Business Management Control - Essay Example Globalisation has been the common term heard everywhere from the year 1990 and in today’s world there is no chance of the globalisation to get diminished. Globalisation means growth in the trade and business along with the expansion in the international market. In order to build a successful business in the global market, it is very important to set the business policies and strategies in such a way that it can accommodate the international business finance environment. The technological developments have made the international communication easier. This is helping the individuals to know the events that are happening outside their home land. This increased awareness of the individuals is leading to the increase in the international trade and also the number of business that are running outside the domestic land. This shows that the economies all around the world are closely linked. In order to sustain in the global market, it is very important for the business managers to rem ain conscious that the operation market, the suppliers, the business partners, the investors and the competitors will not be restricted to the domestic country only. They can belong to the international market as well. A successful business will anticipate the future downfalls and will always make proper utilisation of the opportunities to achieve competitive advantage in the market. The managers should understand the similarities and the differences existing across the national boundaries in order to grab the opportunities and cope up with the potential downfalls. In order to develop appropriate strategies for operating in the global market, the managers need to consider the advantages as well as the disadvantages of the globalisation.... Some companies develop different products and services to supply to the customers in different countries. There has been a growth in the international companies from the developing countries. This trend will increase in future. There are increasing political, legal and other environmental barriers related to the businesses operating in the international market. Effective measures should be taken by the business managers in order to achieve competitive advantage in the market. Literature Review Many research have been made on the management of business policies in order to accommodate with the international business finance environment. There should be maintenance of transparency in the business activities and the business policies should be followed by the managers in order to avoid the international business barriers. a) It is very important for a business to assess the management goals and objectives semi annually in order to achieve competitive advantage in the changing market and the regulatory international environment. The main objective of a firm is to gain competitive advantage in the market. Researchers like Horngren et al. (2005) stated that management accounting is a method which can influence the behaviour of the managers and enhance the achievement of the organizational objectives. A firm needs to allocate and utilise its resources effectively in order to reach its objectives. The short term resources are reflected in the operating budget of the firms. The short term resources are obtained from the bank credits, trade credits etc. The long term resources are reflected in the capital budget of the firms. The long term resources are allocated by a firm by the issue