Globalization

MKT B391F Inter study Business Management I 1-3 What Is foundation-wideisation? ?The world is woful away from selfcontained national economies toward an dependent, integrated international economic compendium ?globalization refers to the shift toward a more integrated and mutually beneficial world economy ?Globalization has two facets: ?Globalization of commercializes ?Globalization of growthion 1-4 Globalization ?Trade and investment barriers argon disappearing. ?Perceived distances atomic number 18 shrinkage due to advances in transportation and telecommunications ?Material burnish is antecedent to look similar ?National economies merging into an interdependent global economic system 1-5 Globalization of Markets ?Historically plain and separate national markets are merging ?It no long-term raises sense to call on the carpet about the German market or the American market ?Instead, there is the global market ?falling business barriers make it easier to sell globally ?consumers tastes and preferences are converging on some(a) global norm ?firms stir the trend by oblation the same basic ingatherings widely distributed ?Standardized products e.g.

Coca-Cola, Sony, McDonalds 1-6 Globalization of Markets ?Difficulties of globalization of markets ?Significant differences still live on among national markets ?Range of problems are wider and more complex ? judicature intervention in trade and foreign investment ? world-wide investment is impacted by different currencies As a consequence: ?Country-specific strategies ?Customerisation of marketing and operation strategies ?Varied product mixi! ng 1-7 Globalization of Production ?Firms source goods and services from locations roughly the ground to capitalize on national differences in the approach and fiber of factors of production like land, labor, and capital ?Companies can ?lower their boilers suit cost structure ?improve the quality or functionality of their product offering ?enhance competitiveness ?take advantage of dear communications technology, and...If you want to get a full essay, ordination it on our website: BestEssayCheap.com

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