Write 600-800 words that respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas:
Your team attends a trade conference on the subject on globalization. They have attended several seminars both advocating and dismissing implementing a global strategy. You return to the office and share some of what you have learned to the team.
"Globalization is a very interesting topic and can get very heated," you explain. "There are some countries and companies who are fiercely loyal to their homes and would not consider going global. Others see it as a benefit to the company and their customers. Some people here in the states believe that American-made is best because we are contributing to our home country. But, is it? Is it always best to stay domestic? How does this impact pricing? Are you truly helping?"
As your team ponders these questions, you start to think about your position on the topic. Complete the following:
Are you for or against globalization?
Is your recommendation for your company to go global?
Why or why not?
How does globalization impact the marketplace as a whole?
Has your opinion changed from the beginning of the course to now?
Compose, prepare and recommend strategies to achieve and sustain a competitive market profile.
Demonstrate the ability to analyze emerging global marketplace for potential growth and opportunity.
You should be in favor of globalization. There are several benefits of globalization. It ensures international integration, and makes greater use of inter-connectivity. Further, globalization encourages more collaboration of businesses. Globalization ensures global peace, free trade, and opportunities for new markets. With globalization the quality of products improves and there is also an increase in the opportunities for businesses. Globalization leads to improved environmental protection and improves the economic condition of developing countries. Transportation costs are reduced with globalization. There are greater opportunities for employment. From the perspective of consumers, globalization leads to the availability of a wider variety of products, better quality of products, and products at more competitive prices. From the perspective of businesses, they get access to new markets, opportunities for setting up low cost manufacturing, and are able to use improved technology. Investors also get opportunities for making better investments. Globalization is ...
This posting gives you a step-by-step explanation of international integration through business. The response also contains the sources used.
Benchmarks and the Global Market Place
Task: You spent the last week reflecting on both your appreciation of Deborah's praise and the success of the organization, and then had a long weekend with your family. As you walk into work on Monday, all you can think about is how excited you are about the future of the company. You sit down at your desk and get started on your newest marketing proposal for Deborah when there is a knock at your door. When you call for the person to come in, Anna, the financial analyst, enters.
"Good morning," she says. You are surprised to see that she looks nervous because Anna usually has a smile on her face.
"Hi, Anna. Is everything okay?" you ask.
"Well," Anna begins, "I just finished our quarterly report. Our profit margins have dropped by 2% this quarter."
After Anna leaves to send her report to Deborah, you start to wonder how you and your team can help fix this. Is a global strategy the answer, or should the company continue to focus on the domestic market?
You call a departmental meeting to learn about the progress of their research.
Tiffany, one of your team members, begins the discussion. "I think we need to look at some of the internal factors," she says "We know what our capabilities are on the domestic front, but what about in the global market? We have a fairly strong market presence here in higher-end markets, but how does that translate globally?"
"Well, I think we need to identify a benchmark to give us some more information to make a better decision," you explain. Answer the following:
- Who is your benchmark?
- Did it benefit from global expansion? If so, how? If not, why?
- Did this benefit or hinder the benchmark's domestic market share? Explain.
- Where are there risks associated with globalization?
- How were these risks minimized?