Cultural Differences And Influences Of India And Culture Influence On Global Companies

International marketing or business is uniquely different from the local market because the product price, place and promotion is vastly different from what is been offered to local customers (Johansson, 2000) With the emergence of the information technology, cross border marketing has never been a distant dream. However, it has never been easier even for giant multinational companies to face challenges that come in international business. The biggest challenge comes from the culture which varies from country to country.

The term globalization can be defined as a process by which societies, regional economies and cultures have been integrated via a global network of transportation, communication and trade. It has both positive and negative impacts in all the areas that it touches on be it economical, social, technology, cultural, political, environment, health or any other. Globalization started to have an impact on businesses world wide in the eighteenth century since that time marks the merging of modernity and globalization. However, in the modern sence, globalization kicked off after the end of Second World War since its during that time that leaders felt the urge to break down the borders

The article is divided into four parts. First part focuses on the traditional perspective on international marketing strategies focusing on the dichotomy between standardization and adaptation. The second part examines key assumptions underlying the philosophy of global standardization. The third part focuses on the constraints to implementation of global standardization. The last part of the article concludes on the bases of its review that a more general approach is suitable which incorporates various degrees of standardization or adaptation strategies. It is an important article as it concludes that an effective global marketing strategy does not guarantee the marketing of standardized products and global brands worldwide. It might work for some companies but cannot work for all.

Globalization may be defined as the integration of the world 's people, firms and government. In the modern context, globalization is usually the result of closer ties in international trade, known as bilateral trade agreements. The WTO and NAFTA are two examples of such bilateral trade agreements. With such agreements, cross-country investment increases. This increase in investment is aided by the increase in information technology and communications, which has undergone a significant advancement over the last two decades with the rise of the Internet and mobile telephony (Green, 2013). It is important to the business to expand; global expansion and globalization would a positive business decision to complete in this process due to the strategic goals and objectives the company possesses. Healthy growth can be accomplished by globalization of specific areas selected and determined through research of market and development of these areas outlined within.

This chapter gives an over view concept of what globalization entails. The chapter gives a great description and definition of the concept: “Globalization is a holistic, or systematic, set of structures, dynamics, functions or goals, internal constraints, and external impediments”. All of this is relative to the exchange of goods, services, e-goods, information, ect. In other definition, globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by

According to Dictionary.com, the definition of globalization is “to extend to other or all parts of the globe; make worldwide” (Dictionary.com, 2008). Globalization can have a huge impact on the four functions of management. In order to achieve success, a company must have a plan or goal set in action. Once a company decides to go global, it has to decide its market. For example, Disney has over 25

Rapid globalization, companies keen to spread out internationally companies is faced by a very critical question of whether to standardize or to adapt its product or services. Global marketers have been trying to conclude with a particular answer to this great dilemma. Over the years as modern industry has developed, to standardize or to adapt has become a very important defining decision for the marketers. Each has its own pros & cons but to choose the right is a tough choice to make, it needs a thorough analysis and understanding of the market and only then a decision could be arrived .This essay will critically try to understand and analyse the various arguments of standardization and adaption so as to arrive at which is

Globalization is the increasing interdependence and connectedness of the world, its businesses and it markets, as well as flow of goods, ideas, technology, people etc. This phenomenon has increased vastly over the years due to technological advances, telecommunications and internet. As the world becomes a global economy, countries have the opportunity to advance more but with the catch that there is also increased competition. Thus as it becomes more common and powerful a feature, it also has some resistance as well. (InvestorWords, n.d.)

It also wants to minimize risks and costs to coordinate management and business from the different cultures. From the above discussion, the following hypothesis is introduced. Hypothesis 1: A MNE prefer establishing a new investment on a wholly owned subsidiary when it faces larger cultural distance in the new market. If a MNE becomes more internationalized, cultural difference will have less impact on the performance of business in a new market. There are three effects to explain this relationship. First, a MNE is more internationalized, it will possess more experience and knowledge on international business environments and higher understanding on unique cultures of other markets. This will reduce the uncertainty from the cultural difference. Second, when a MNE is more globalized, the organization of the MNE is also globalized. The decisions from the globalized organization will be more flexible and consider the cultural difference of foreign investment. Third, as a MNE is performing more global investment projects, it will accumulate various strategies on issues from the cultural difference, and increase its internal strength of dealing with those cultural issues. Therefore, these three factors can be summarized as the following hypothesis. Hypothesis 2: As a MNE becomes more globalized, the effect of cultural distance on the performance of

Globalization: Globalization is the tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnection of the world. Globalization has had the effect of markedly increasing international trade and cultural exchange. Such as Starbucks, globalization became the topic of discussion, because they had to adjust to the different coffee taste that originated in different countries to maintain their customer

Globalization became a worldwide phenomenon with the growth of market economy and information technology. With globalization, the operators of companies and enterprises could use resources, management, expertise, information and labour of the entire world to manufacture the goods in the most appropriate areas, and then sell the produce to the areas which require them, to accomplish the most favourable distribution of resources in the world. This caused enterprises and countries to break out the boundaries of the local resources and markets, starting a competition with others in a broader sense to accomplish development. Globalization brings states and regions together by reducing the distances between each other and increasing the degree

Globalization is not a new phenomenon; there is an increasing occurrence in the adoption of methods and operations of businesses that allow a greater level of globalization. Theodore Levitt, an editor for the Harvard Business Review, popularized the term ‘Globalization’; he is widely credited with coining the term and bringing it into the mainstream business audience, mentioning it in an article entitled “Globalization of Markets” in the May-June 1983 issue of Harvard Business Review, due to this he is one of the most important contributors to what we know about the origins and meaning of Globalization.

To succeed in INDIA, multinational enterprises must turn the saying "think worldwide, however, act locally" (Ediplomat.com, 2015).

Globalization can be define as a process where regional economies, societies and cultures have become integrated through a globe-planning network of communication and trade. In my own point of view, management has stimulated the entire affair of modern business and trade.

In today’s continuously changing world, many experts say that globalization is what every business, organization, and nation should seek and welcome as a positive change. However, many people are unaware of the main focus and meaning of Globalization, especially in comparison to Localization. A large number of people believe that globalization is just another common word used to refer to changes and differences that cannot be explained or accounted for. Therefore, many different activities or changes are improperly labeled to be a part of or caused by globalization.