The paper “ Management Theories and Philosophies” is a sage example of the literature review on management. Recently, because of the production processes as well as globalization of markets, progressively more entrepreneurs and marketers together with business managers have to manage social responsibility and ethics issues in cross-cultural environments. According to Yü cel and Dağdelen (2010, p. 62), ethics on international marketing, social responsibility as well as globalization have an effect on each another. Increased globalization as per Yü cel and Dağdelen (2010, p. 62) resulted in lots of problems, which include social and ethical responsibility both locally and overseas.
In the previous five decades, world trade and commerce grew by almost twenty times, thus, exceeding the world industrial production that grew by almost seven-folds. Both foreign direct investments and exports in this expansion acted a crucial part in the global trade and economy (Yü cel & Dağdelen, 2010, p. 62). Besides the expansion of large-scale firms, Reif (1997, p. 69) posits that small businesses are as well growing their investments across borders. Currently, with technology, communication, the interdependence between countries, Levitt (1983) holds the view that the demand is turning out to be homogenized while the world has become globalized borderless, and have shrunk.
As mentioned by Levitt, multinational companies can just survive through the development of global strategies like manufacturing of goods that are standardized so as to meet homogenized global demand in an international market. Give that the globalization’ s driving forces meant that, consumers, markets, were turning out to be more 'homogenized, consequently necessitating organizations to create corporate and international marketing production strategies that cross borders of the country (O'Curry, 2006, p. 38). Levitt asserts that novel travel communication, and transportation technologies have generated a world market that is more homogenous (Kapferer, 2008, p. 458).
Scores of scholars concur with Levitt about the existence of a more homogenous world market; for instance, Sale (2007, p. 30) posits that increasing internationalization of buying patterns as well as tastes has resulted in the feasible development of global as well as regional brands.
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Franklin, O., 2010. Multinational Corporations & Regional Strategy - a literature review. Thesis. Copenhagen: Copenhagen Business School.
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Kapferer, J.-N., 2008. The New Strategic Brand Management: Creating and Sustaining Brand Equity Long Term. London, United Kingdom: Kogan Page Publishers.
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Levitt, T., 1983. The Globalization of Markets. [Online] Available at: https://hbr.org/1983/05/the-globalization-of-markets [Accessed 7 April 2015].
Mintzberg, H. & Lampel, J., 1999. Reflecting on the Strategy Process. [Online] Available at: http://sloanreview.mit.edu/article/reflecting-on-the-strategy-process/ [Accessed 7 April 2015].
Murray, K.B. & Schlacter, J.L., 1990. The impact of services versus goods on consumers’ assessment of perceived risk and variability. Journal of the Academy of Marketing Science, vol. 18, no. 1, pp.51-65.
O'Curry, A., 2006. a Study into Developing Strategies for Internationally Competitive Irish-owned Consumer Brands. Thesis. Dublin, Ireland: Dublin Institute of Technology.
Papavassiliou, N. & Stathakopoulos, V., 1997. Standardization versus adaptation of international advertising strategies: Towards a framework. European Journal of Marketing, vol. 31, no. 7, pp.504 - 527.
Parsons, N., 2007. French Industrial Relations in the New World Economy. New York: Routledge.
Reif, J., 1997. Services--the Export of the 21st Century: A Guidebook for US Service Exporters. Petaluma, CA: World Trade Press.
Saee, J., 2007. Contemporary Corporate Strategy: Global Perspectives. New York: Routledge.
Segal-Horn, S., 2004. The modern roots of strategic management. European Business Journal, pp.133-42.
Segal-Horn, S. & Faulkner, D., 1999. The Dynamics of International Strategy. New York: Cengage Learning EMEA.
Shareef, M.A., 2009. Proliferation of the Internet Economy: E-Commerce for Global Adoption, Resistance, and Cultural Evolution: E-Commerce for Global Adoption, Resistance, and Cultural Evolution. Delhi: IGI Global.
Stonehouse, G. & Fraser, W., 1999. Globalisation – the limits of convergence. [Online] Available at: http://www.cfin.ru/press/management/1999-6/01.shtml [Accessed 7 April 2015].
Thrassou, A. & Vrontis, D., 2006. A small services firm marketing communications model for SME-dominated environments. Journal of Marketing Communications, vol. 12, no. 3, pp.183-202.
Vrontis, D. & Thrassou, A., 2007. Adaptation vs. standardization in international marketing – the country-of-origin effect. Innovative Marketing, vol. 3, no. 4, pp.7-20.
Vrontis, D. & Thrassou, A., 2013. Innovative Business Practices: Prevailing a Turbulent Era. Cambridge : Cambridge Scholars Publishing.
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Yücel, R. & Dağdelen, O., 2010. Globalization of markets, marketing ethics and social responsibility. In K.G. Deng, ed. Globalization - Today, Tomorrow. Sciyo. pp.61-76.