International Business Communications Group Presentation Assignment

Introduction of International Business Communications Group Presentation Assignment

Next plc is one such company that has grown forth and has prospered over time through online business and is currently looking forward to expanding its online business and presence in China. The online approach will take the overall business growth of the company to staggering heights. This detailed report analyzed the importance of effective theories that can be used by company managers or leaders to enhance the performance of the organization in the context of international business communication. Next plc company leaders are always motivated to the employees and always cooperate that helping to increase the business growth. The managers of this company are responsible for the success of this business.

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Research-informed Literature

Intercultural communication is the process that occurs between people from two or more cultures. In this study, Next plc company leaders developed their business so other country cultures acceptable for other countries because good communication build-up good business with a joint venture. Next plc company is a well-known clothing industry, it wants to grow business in other countries. The focus of this company is to develop its business with the help of strategies derived from the collective decision-making process (Khanche and Kahla, 2018). Therefore, the leaders and managers of this company follow some unique strategies and steps that help to develop company growth. Many theories follow this industry, Kotler's marketing theory is one of the most important theories used in this company. This theory gives good results to the success of this business.

The company management team is motivated employees to improve many bits of knowledge and skills. Management of this company works on two types, management of performance and the planning of succession. Performance management learns a practice that builds discipline for every employee. As a result, every employee iscommunicating easily with other cultures because the company managers and leaders teach the right knowledge to communicate with other cultures (Ping et al. 2019). The performance of the management team is responsible for building a good community so another country's culture is comfortable for others. Personal communication with another country’s person is most effective to build a business. As a manager of this company, many qualities should have to keep help business growth (Yuan et al. 2019). These company managers and leaders are always helpful to the employees and give training for the development of their skills and encourage all employees. Therefore, next plc company creates a good intercultural community of others countries. Next Plc has created an organization and this organization always helps the company.

Knowledge and Understanding of Subject

There are certain factors at play that includes the overall growth and progress of the company when they are looking forward to expanding in the global market. Next plc is one such company that has been looking forward to expanding its global reach across China through various online marketing approaches and strategies that are required to be undertaken for the progress of the company

Figure 1: Online sales by Next plc

(Source: statista.com, 2022)

Over time, Next plc has been taking measures to take business ventures beyond the traditional approach and take online marketing to new heights. The company has generated 3.1 billion British pounds through online marketing (statista.com, 2022). Their global venture emphasizes the 4ps of the marketing mix in the market of China. It is associated with the product placement and targeting associated with the consumer base of that region. This industry refers to four marketing mixes that are discussed in the company service process and productivity. This marketing mix involves the consumers purchasing the products of this company. The marketing mix includes products, price of the product and promotion and, place. This company's marketing concept is used to increase the company’s success. Good quality product service is needed for the development of the company that wants consumers. Product brand and value are utilized in the company volume. The product price always increases company sales and also business profit (Allo, 2018). The company can be increased its product prices but the competitor of the market is high at that time. This company's marketing mix follows the promotion of every product and service. This company spread awareness of the product. Therefore, places are chosen for making the products that are available for selling company products. It is a decision regarding matters that depended on the wholesalers and the retailers also. Next Plc Company maintained its commitment that beautiful design and qualities are excellent for the customers and also responsible for the work of every employee so they are comfortable with other cultures.

Analysis

The well-known clothing brand based in the UK, holding a huge market value contemplating to establish a joint venture with a China-based company. While doing this the company can face several challenges to cope with the clothing industry culture in China. A successful leader must possess a transparent vision of the organization and be ambitious (Uslu, 2019). A case history of Next Plc suggested that while the big giant of the clothing industry of the UK experienced a disappointing performance in sales, the CEO of the company Simon Wolfson had decided to cut off its profit and sales forecast (Economictimes.indiatimes.com, 2022). As a result, the company experienced a trade fall and the management went for a reality check about what was going wrong. The company came to a point where the currency crisis, fuel inflation, and post covid crises were the reason. The management of the company designed effective strategies that lead to a result of a rise in sales. This incident suggests that the company leaders and, the management team are situational. The situational leaders respond as per the demand of the situation (Thompson and Glasø, 2018). As the company's business strategy looking for a joint venture with a China-based company, this situational theory of leadership can be worthy for the company. The company needs to understand the working culture and norms of the industry in China. The priority of the company can be to avoid cross-cultural issues while originating the desired joint venture. This program will require several things like expansion at an international level.

The management of the company can concentrate on what will be the international recruitment processes. While the company will want to send some of its efficient employees abroad, it is necessary to play thorough communication skills to understand the requirements of the home country professionals. There will be a demand to meet the cultural gap between the host country professionals and the home country professionals in the context of international business communication (Ihsan et al. 2021). Here the company needed effective communication skills, in that case, the trait theory takes an important role. The management may hire leaders who have possessed effective communication skills.

During the Covid period, it has seen that the company faced a huge loss that led them to sell some of its assets but the management took care of the employees. It suggests that the company follows an employee-oriented leadership approach, as suggested in the Contingency theory of leadership.

While the company faced several challenges to the pandemic situation and inflation and many other things the company followed the Kotler management theory to recover its profitability. The company emphasized the five levels of need of their customers. The company tried to design its product according to the varying needs of customers.

Practical Applicationand Deployment

Next plc follows a significant pattern of leadership that is beneficial to its format of a work process. The company follows a participative leadership approach that is witnessed in the internal structure of the organization. This process allows the management body to involve the employees in the decision-making process of the company. It has helped the company to enhance the motivation level of the employees which has been reflected in their work process as well. It is more effective than the hierarchical structure of management that propagates in the work culture which inhibits a proper course of communication and coordinating work process. The golden period for this company was from 2012 to 2016 when it incorporated online marketing. It relatively experienced slow growth in the later years. However, they managed to recover from that crisis and in 2022 the company generated a profit of 4.9 billion British pounds (statista.com, 2022). This shows a prevalence of the aspect of Herzberg’s motivation theory in the work culture in Next plc caters to the internal factor that motivates the employees.

Figure 2: Herzberg’s motivation factor

(Source: MacPherson, 2021)

The prevalence of Herzberg's motivation factor is crucial in current times. Especially while dealing with millennial employees given the current ambiance of sentiments, work process, and general awareness regarding emotional health (MacPherson, 2021). These factors are catered to through the hygiene factors that are prevalent in the organization. The inclusion of these factors allows the people in the work process to stay motivated and dedicated to the work process and the overall vision and goal of the organization.

Achievement and recognition will also take place in the case of a joint venture with an international company. The efficiency of the employees will be judged in the context of sending efficient employees from their organization to China. The adaptability to the given situation or market and the perception of the core values of the company will be in check by the management.

Skills for Professional Practice

I have considered before choosing a company that is to be selected for this particular project. Next plc is one such company that has shown a brilliant rate of progress over time in the online marketing domain. It has been growing ever since. I have collaborated and discussed with my teammates regarding the choice of this company and the necessary approach to be followed was decisively collectively. A secondary approach to re Next Plc's Effective Strategies for International Business Communication and Leadershipesearch was conducted where we worked as a team to collect necessary evidence regarding this particular topic. A proper course of communication was ensured during our time helped in completing the task smoothly and also helped us in engaging in a work process that adhered to a collaborative approach. This teamwork not only help us to get proper documents on time but the collective brainstorming also gave us new insights into various topics involved in this topic.

Conclusion

Next Plc has displayed a strong dominance over the market dominance and has been growing ever since. This company has strong internet leadership factors that have contributed to the overall functioning of the organization. It is reflected through their growth and sustenance over time. The company followed various kinds of effective leadership styles and management theories for improving its business strategies in the case of international business communication. In this study, it is concluded that the next plc company managers and leaders are responsible for their work and also motivate employees so they communicate with other cultures. Communication with other cultures is effective for business growth.

References

Journals

Akpoviroro, K.S., Kadiri, B. and Owotutu, S.O., 2018. Effect of participative leadership style on employee’s productivity. International Journal of Economic Behavior (IJEB), 8(1), pp.47-60.

Allo, M.D.G., 2018. Intercultural communication in EFL classrooms. Ethical Lingua: Journal of Language Teaching and Literature, 5(2), pp.159-170.

Ihsan, M., Rahman, A.U. and Saeed, M., 2021. Hypersoft expert set with application in decision making for the recruitment process. Neutrosophic Sets and Systems, 42(1), p.12.

Khanche, H. and Kahla, K.B., 2018. Intercultural management between Tunisia and Europe. Journal of Business Administration Research, 7.

MacPherson, Allan. (2021). Motivating Millennials: the journey to project success. 10.13140/RG.2.2.29251.02087.

Ping, L., Jing, X., Othman, B., Yuefei, F., Kadir, Z.B.A. and Ping, X., 2019. An intercultural management perspective of foreign student’s adaptation in Chinese universities: A case study of China Three Gorges University. Engineering, Technology & Applied Science Research, 9(2), pp.3971-3977.

Thompson, G. and Glasø, L., 2018. Situational leadership theory: a test from a leader-follower congruence approach. Leadership & Organization Development Journal.

Uslu, O., 2019. A general overview to leadership theories from a critical perspective pp.161-172.

Yuan, Y.C., Liao, W. and Bazarova, N.N., 2019. Judging expertise through communication styles in intercultural collaboration. Management Communication Quarterly, 33(2), pp.238-271.

Websites

Economictimes.indiatimes.com, (2022), Next CEO Simon Wolfson warns of second cost of living crisis in UK, cites reason Available at: https://economictimes.indiatimes.com/news/international/uk/next-ceo-simon-wolfson-warns-of-second-cost-of-living-crisis-in-uk-cites-reason/articleshow/94538970.cms [Accessed on: 9th November, 2022]

Statista.com, 2022 next annual revenue UK, Available at: https://www.statista.com/statistics/544243/next-annual-revenue-uk/ [Accessed on: 9th November, 2022]

statista.com, 2022. Retail and online sales of Next plc, Available at: https://www.statista.com/statistics/980296/retail-and-online-sales-next-plc/ [Accessed on: 9th November, 2022]