How Global Trends Are Shaping the Business World

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In today's globalized and extremely dynamic business environment, companies from across the globe are trying hard to please their target customers by offering world class, high quality, innovative and unique products at competitive prices. The ever increasing availability of information among the customers and rising global competition has benefited consumers the most because consumers are able to get best quality products at most competitive rates.

The increasing use of e-commerce and technology as well as rising trend among companies to set up operations in other countries, either to take advantage of outsourcing or to exploit growth opportunities in new and emerging markets, has made the entire world a global village where physical boundaries of trade does not hold too much importance. Further, rising bilateral trade among nations, establishment of treaties and trading blocs and declining barriers to trade has encouraged companies to go across national borders and exploit growth opportunities in newer markets.

The increasing globalization also means that a standardized strategy does not work for companies today and localization or adapting to local market conditions has become the norm for successful companies. The ever increasing diversity in major countries across the globe due to rapidly increasing globalization has forced companies to adapt their strategies for people from different countries, ethnic origin and culture. Advancement in technology tools such as business intelligence tools, CRM and sales force automation tools have allowed companies to operate efficiently in global markets by developing strong ...