Entering The Global Market Can Be Challenging

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Entering the global market can be challenging but there are certain methods for doing so. For a company to first begin entering into the world market it would start with exporting, this helps many small firms enter the foreign market (Durbin, 2012, pg.53). Also by making sure you get to correct licenses to operate your business in other locations, sometimes this would include fees and prior authorization. Such as if you owned franchises privately and wished to globalize to a country it wasn 't previously in you would need to make sure this is allowed. When you export you must label and make sure correct invoices are available for costumes to check, as well as making sure you are following all trade regulations. If a business is having…show more content…
With globalizing you have to make sure you abide by all government agreements when it comes to outsourcing and offshoring (Durbin, 2012, pg.37). To big companies they have more reasons to globalize and outsource, sending jobs overseas, with typically lower wage costs as well as lower operating expenses. Also helping in the global economy by helping reduce world-wide poverty while creating new employment and sports. While also helping efficiency by being able to work 24/7 due to different time zones. With this open economy it keeps the mind fresh and innovative with new ideas from abroad, diverse mindsets help flourish a business. However will all pluses come negatives, such as the millions of job losses America has faces due to many business finding cheaper labor and locations in other countries. This also means that many professional jobs such as finical analysis, and design engineers are relocated. Making the job force highly competitive for lower skilled workers, having them compete against each other. In the end big companies win, because to stay competitive they lower wagers and close plants instead of offering the basics of health care, pension and retirement benefits, this can leave many companies in human right violations (Durbin, 2012, pg. 57-58). With a diverse workforce you collectively work together as a team serving the wide variety of consumers while also bringing fresh new ideas to the plate that can help a company thrive and create new
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