The management of technology and innovation

To implement the changes effectively, the company must change its organizational structure to a flatstructure that facilitates faster, more effective communication and better teamwork (White & Bruton,2011). The most suitable culture in a globalized world is one of open communication, innovation,and teamwork. The appropriate leadership style in the globalized business environment is democratic leadership because it creates a conducive environment for an appropriate structure and culture.

A new direction in the strategies used in an organization will lead to the adoption of the new strategy by the management team. This will happen if the strategy is evaluated and is anticipated to bring a positive outcome to the organization involved (Hayes, 2018). Also, a new direction in the implementation of the strategy that will lead to achieving the goals of a business will lead towards its adoption. The change management will consider such a strategy in implementing the necessary changes established in an organization. Change management considers those strategies that will lead to the achievement of set objectives.

The firm must cope with the changing trends in the business environment in order to achieve a competitive advantage over its rivals. I would like to add that the openness to the other cultures will also associate with achieving the competitive advantage and retaining it as well. It is necessary for multinational companies to overcome cultural barriers in order to achieve success. I believe that overcoming the cultural obstacles will lead to better interaction with the customers, hence achieving higher returns. According to Goran, LaBerge, & Srinivasan (2017), getting close to the customers will improve the relationship between the company and its customers, thus considering their needs while creating the products and services.

 Reference

Goran, J., LaBerge, L., & Srinivasan, R. (2017). Culture for a digital age. McKinsey Quarterly (10), 1-10. Retrieved from https://lediag.net/wp-content/uploads/2018/05/0-Culture-for-a-digital-age.pdf

Hayes, J. (2018). The theory and practice of change management. Palgrave.

White, M., & Bruton, G. (2011). The management of technology and innovation. Mason, OH: South-Western Cengage Learning.