The effect of globalisation on strategic management at Ernst & Young (EY), Kenya

Abstract

Globalisation is creating numerous opportunities for sharing knowledge, technology, social values, and behavioral norms and promoting development at different levels including individuals, organisations, communities, and societies across different countries and cultures. Rapid globalisation is one of the most salient aspects of the new millennium, particularly since the fast development of information technology. Ernst & Young (EY) has a strong global leadership team that sets a single global strategy and agenda. In offering its services, Ernst & Young (EY) is expected to comply with both international and local regulatory framework, while at the same time adhering to a streamlined way of managing its business irrespective of the country of operation. The objective of this study was to establish the effects of globalisation on strategic management at Ernst & Young (Ey), Kenya. The research was based on a case study with the aim of creating a profile about a phenomenon. The study made use of primary and secondary data. The data obtained from the interview guide was analysed using content analysis, a technique used to make inferences through systematic and objective identification of specified characteristics of messages. The study concludes that globalisation affected strategic management to a great extent at the firm. Because of globalisation, the firm had to open offices in different parts of the world in order to meet the needs of their customers who were expanding to other parts of the world other than their home country. The study further concludes that globalisation affected strategic management as it determined the expansion strategy that was to be adopted by the firm as it extended its services to other regions. The study also concludes that following globalisation, customer expectations had increased as the levels of competition intensified. This study recommends that a thorough environmental scanning should always be conducted whenever the firm plans to enter into a new territory. Environmental scanning allows smooth operations of an organisation and standardized service delivery. The study further recommends that the firm should maintain its quality service delivery and corporate values which guide its operations so as to protect its integrity and fairness in its work. Additionally, the study recommends that the firm invests in innovations and inventions so as to come up with new innovative ways of serving their customers.