Theme 1: On Business Knowledge
Combining theoretical coursework and practical experience, this course enhanced my understanding of business models, innovation in business and technology, globalization of economic conditions, and managing global markets today. Firstly, I learned that a good business model for international businesses considers the customer and their value, the revenue side of the business, internal processes, and resources. The model is designed scientifically and functions like a strategy (Magretta, 2002; Johnson et al., 2008). Secondly, I learned that economic globalization uses supply chains to distribute products worldwide. It closely relates to global convergence, where people find common ways of doing things. These lead to the establishment of global business environments characterized by an international trade system, diversity, and rapid transitions (Cote, 2021; Kotler & Armstrong, 2017). For example, Stella Artois is a beer manufactured in Belgium but enjoyed by individuals in the United Kingdom, Canada, and Ireland. However, these two phases of globalization are affected by various factors, including politics, economics, and culture, which affect global businesses’ performance.
With a focus on culture, some value differences that define culture (masculinity and femininity, individualism and collectivism, power distance, uncertainty avoidance, and long-term and short-term) create differences in values, customs, beliefs, and practices, as stipulated in Hofstede’s cultural dimensions theory. Organizations can, therefore, promote cultural relativism and develop cross-cultural relationships to overcome cultural pitfalls such as ethnocentricity and stereotyping (Worthy et al., 2020). Nations also differ in their geopolitical environments due to monetary regulations and accommodating foreign firms. For example, the Russia-Ukraine war has affected Russian businesses abroad (CNBC Television, 2022). Moreover, economic factors influence a company’s marketing strategies, including branding and product management, pricing, distribution, and promotion. This means that a product can be marketed with or without significant changes. As noted by Kotler and Armstrong (2017), similar or different promotion strategies may be adopted, considerations may be made when setting the price, and the company must consider the product distribution to customers.
I used the knowledge acquired in the course to design a business model for an organization expanding its operations to Malaysia. In the project, AUK Logistics plans to explore Malaysia’s business environments due to changes in social structure and a growing middle class. The solution for AUK Logistic’s business model focused on customer-centric business operations, technological integration and innovation, strategic alliances, and cultural sensitivity and adaptation. The organization conducted comprehensive market research and utilized insights from consumers’ changing attitudes and behaviours to introduce convenience in logistics services. Furthermore, it recognized the significance of advancements in the Internet of Things, data analytics, and automation in enhancing operational efficiency (Amin & Shahwan, 2020). Strategic alliances with regional logistics companies helped gain insights into local market dynamics and regulatory environments for customizing logistical solutions (Tran-Dang et al., 2020; Selim et al., 2019). Again, fostering cultural sensitivity improved tolerance of Muslim customs such as halal practices. The model further acknowledged the significance of government laws and policies and leveraged Malaysia’s strong economic development and the government’s focus on infrastructure development (Agyabeng-Mensah et al., 2020) to identify opportunities for growth and expansion.
From the knowledge acquired, the insights on managing global operations will be the most useful in my consulting career in the areas of either cross-cultural management consultant or international market entry consultant. The knowledge can be applied in developing advertising and marketing strategies, where the need for imaginative thinking and quality research that generates deep customer insights is emphasized. Using the Zaltman Metaphor Elicitation Technique, for example, I could go beyond customers’ surface thinking, avoid premature closure in analysis, and highlight the challenges of mistaking facts for insights (Zaltman, 2014). Furthermore, I can apply it as a strategic tool to assess research methodology, make sound decisions, and guide the development of an organization. Again, through a SWOT analysis, I could distil strengths, weaknesses, opportunities, and threats into core competencies and problems linked to an action plan that leverages the core competencies and prevents the exposure of core problems (Helms & Nixon, 2010). This would help me prioritize risk management and communication, which would help me gain market share and establish and sustain high performance in the organization and, thus, my career.
Theme 2: Critical and Creative Thinking
Critical and creative thinking in learning environments allows students to use logic, resourcefulness, imagination, reason, and innovation when solving problems. On the one hand, critical thinking occurs when a person assesses arguments, uses evidence effectively, draws conclusions, makes informed decisions, and solves problems (Gurevich, 2019; Doncean & Doncean, 2022). Critical thinking is essential because of its applicability in professional careers in fast-growing economies, it improves language and presentation skills and promotes creativity and self-reflection. It applies to all careers when proving scientific facts, backing up theories with knowledge, and forming relevant and beneficial arguments. It is also crucial for fast-growing economies because problems can be solved faster and more efficiently (University of the People, 2024).
Furthermore, individuals apply it when expressing themselves, enhancing their ability to think clearly and systematically. It promotes creativity, where individuals develop new and creative ideas to solve problems. Lastly, the skills are applied during self-reflection to justify practices, beliefs, and opinions.
On the other hand, creative thinking involves generating new ideas by establishing connections between things. For example, a person could perceive existing situations from fresh perspectives, apply new ideas in specific contexts, and identify alternative explanations. The significant difference between the two is that creative thinking is divergent while critical thinking is convergent (Doncean & Doncean, 2022). Divergence means starting with identifying the problem and expanding to multiple solutions to solve it. Convergence means applying various practices to arrive at a single or small number of solutions. That said, critical thinking generates a few ideas, while creative thinking generates multiple possible ideas. The personality traits and attitudes of creative and critical minds also differ. The former are imaginative, curious, intuitive, problem sensitive, original, adventurous, independent, and enthusiastic. The latter show questioning, inferring, hypothesizing, reasoning, comparing, and testing skills. Generally, international business activities integrate critical and creative thinking to achieve sustainability, innovation, cultural diversity, and business restructuring objectives.
In my final project, critical thinking was applied in light of the activities of AUK Logistics. For example, questioning and observation skills were applied to assess the perception of Muslims towards halal doctrine. This required using surveys, interviews, online assessments, and questionnaires targeting individuals and leaders. Secondly, research skills were applied to describe significant government laws and policies, cultural aspects that influence business operations, economic development, key trends in the logistics sector, and how they impact Malaysian logistics. During research, individuals make use of online sources with credible information. Thirdly, analysis skills were applied to evaluate cultural perceptions and market penetration using data and information about the problem. The analysis indicated that Muslims preserve their culture, there is a change towards convenience, business and economic development is encouraged, and Malaysia’s adoption of key trends. Fourthly, inference skills were applied to draw conclusions and offer solutions. Based on the information collected, the practical solution for this situation is to form strategic alliances with regional logistics companies to learn about the market dynamics. Lastly, communication skills were applied to discuss the issues and possible solutions with colleagues. Engaging in complex conversations, for example, where conflicts arise, improves communication habits such as active listening.
Contrarily, creative thinking skills were applied to develop tailored solutions that meet specific needs. Innovative strategies were evaluated, and the process involved brainstorming and ideation sessions. Secondly, creative thinking was applied to explore diverse methodologies for data collection. Creative thinking led to including observation and online studies instead of relying on traditional approaches such as surveys and questionnaires. The team acquired comprehensive insights into the market landscape and customer preferences with these creative approaches.
References
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Amin, H. M., & Shahwan, T. M. (2020). Logistics management requirements and logistics performance efficiency: the role of logistics management practices – evidence from Egypt. International Journal of Logistics Systems and Management, 35(1), 1. https://doi.org/10.1504/ijlsm.2020.103859Bourgoin, A., & Harvey, J. (2018). How Consultants Project Expertise and Learn at the Same Time. Harvard Business Review. https://hbr.org/2018/07/how-consultants-project-expertise-and-learn-at-the-same-time
CNBC Television. (2022, November 9). Russian businesses get threats after Vladimir Putin’s invasion of Ukraine. YouTube. Retrieved February 8, 2024, from https://www.youtube.com/watch?v=OkliGWdkSfc
Cote, C. (2021, June 22). What Is Globalization in Business? | HBS Online. HBS Online. Retrieved February 8, 2024, from https://online.hbs.edu/blog/post/what-is-globalization-in-business
Doncean, M., & Doncean, G. (2022). CRITICAL AND CREATIVE THINKING. Journal of Public Administration, Finance and Law, (24), pp. 123–133. https://doi.org/10.47743/jopafl-2022-24-12
Gurevich, A. (2019). Critical Thinking. MHCC Library Press. https://mhcc.pressbooks.pub/wr122/chapter/2/
Johnson, M. W., Christensen, C. M., & Kagermann, H. (2008). Reinventing Your Business Model. Harvard Business Review Home. https://hbr.org/2008/12/reinventing-your-business-model
Kotler, P., & Armstrong, G. (2017). Principles of Marketing. Pearson. https://opac.atmaluhur.ac.id/uploaded_files/temporary/DigitalCollection/ODljY2E4ODIyODViZjFkODgzNDUxYWZlNWFhZmY2MGE5MDc0ZDVmYw==.pdf
Magretta, J. (2002). Why Business Models Matter. Harvard Business Review, pp. 1–11. https://hbr.org/2002/05/why-business-models-matter
Selim, N. I. I. B., Zailani, S., Aziz, A. A., & Rahman, M. K. (2019). Halal logistic services, trust and satisfaction amongst Malaysian 3PL service providers. Journal of Islamic Marketing, ahead-of-print(ahead-of-print). https://doi.org/10.1108/jima-05-2018-0088
Tran-Dang, H., Krommenacker, N., Charpentier, P., & Kim, D.-S. (2020). The Internet of Things for Logistics: Perspectives, Application Review, and Challenges. IETE Technical Review, 39(1), 1–29. https://doi.org/10.1080/02564602.2020.1827308
University of the People. (2024). The Importance Of Critical Thinking, and how to improve it. https://www.uopeople.edu/blog/why-is-critical-thinking-important/
Worthy, L. D., Lavigne, T., & Romero, F. (2020). Culture and Psychology. MMOER. https://open.maricopa.edu/culturepsychology/chapter/hofstedes-cultural-dimensions/
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