Entering The Global Marketplace Can Be Challenging, Especially

As organizations all over the world continue to expand, it is important to understand how some of those changes will affect our small companies or large businesses. Every single one of us has have grown up differently in some sort of way, and while we all have different backgrounds, most of us that grow up in the same general region have the same type of knowledge of the world around us as a whole. It is important to remember that while we have some type of knowledge of this, it isn’t the same as really understanding a different culture and how Globalization plays such a huge role.

Globalization is defined in many ways. “Globalization generally refers to the expansion of global communications, growing social and political interdependence and the development of a planetary rather than national awareness among many of the world’s people (Anderson, 98).” The process of globalization is allowing people from all over the world be more interconnected with one another. The process is seen in many different ways. Our clothing is no longer made in the United States, today we look at the tags and see “Made in Indonesia” or “Product of Venezuela”. Many companies such as Microsoft, Nike, and Wal-Mart are reaching people in places that were not considered feasible markets only 30 years ago. Globalization has been a subject to controversy by both the richest and the poorest of countries. Outsourcing is a major point of negativity in this new interconnected world. Many jobs are lost from workers in the developed nations and sent to developing nations who will supply workers for less.

In the business industry, if businesses want to export their goods and services to other countries, they must become familiar with and adopt international and global strategies. Consequently, there are three types of international and global business strategies. The first type is international, which entails conducting a significant amount of activities outside the home country, yet its focus remains on the home market (Fung, 2014). The second type is multinational, which consists of operating in multiple countries, yet the headquarters is in its home country, not to mention that the competitive advantage will vary by country (Fung, 2014). The third and final type is global, which is when the organization treats the whole world as one market and one source of supply, not to mention, that its competitive advantage is contingent of common brands, standardized products, and global scale production (Fung,

Another issue in international management is cultural conflict. Globally there are many different cultures, and when these cultures cross there is sometimes conflict in the way that they react to each other. Some cultures take emotion very seriously in their business negotiation whereas other countries do not. So before taking a step toward expanding globally it is good to do research on the cultures that you will be trying to enter. This will make the businesses transition easier and lead to less miscommunication issues.

Technological advancement has made globalization an inevitable factor that businesses of the future will need to consider in order to be successful. Increasingly, companies that have been solely domestic are branching out internationally for a wide variety of reasons, but in the end, it’s all about making profits from previously inaccessible market segments. The scaling is vast: international businesses can be as small as a stay at home mother that just created a Limited Liability Corporation to sell a unique product to the world, to an already established international businesses conglomerate with offices across the globe.

In this paper I will be discussing the different aspects of Global Business. I will define what is meant by “Global Business” and also the general international business environment. Today’s great business opportunities, and also the greatest challenges we face, are global in nature and therefore demand leaders who are also global. But what does “global” really mean? Truly global leaders act as bridge builders, connectors of resources and talent across cultural and political boundaries. They don’t just think and act global, they are global.

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

In doing business so many times an organization must think globally. This might be done to increase sales and/or profits or to lower labor costs. In either case problems can occur due to ethical and cultural barriers in global expansion. In this paper I will attempt to show some of what a global organization and a cultural issue that affects their interactions outside the United States by identifying and comparing some of these cultural differences.

In today’s highly globalized world, companies are facing competitive pressure to expand into international markets. These markets offer immense opportunity, but they come with challenges and they require companies to develop new skills and abilities in order to success overseas. These developments include recognition of diverse consumer needs, cultural attitudes, political regulations, and product adaptations. The differences between operation in one country or multiple countries are significant, but if an organization can successfully adapt and implement these important abilities, it can tap into markets with great potential.

Business environments across the world have been experiencing numerous and rapid dynamics, forcing business enterprises to look for more intelligence before entering such markets. The need to start businesses in foreign markets is created by variety of factors which includes saturation of local markets and availability of attractive opportunities in foreign countries.

Organizations or firms will have many reasons why its imperial for the businesses to penetrate or enter global market, some of these reasons will include to increase profit margin, increase sales, expand the scope of the business at a global scale, and increase market competitiveness (Winters, 2015). To effectively accomplish the global business goals and objectives by any firm, the company will require an extensive detailed comprehensive global strategy to effectively accomplish their business goals.

The world offers significant business opportunities for every company, however, opportunities are accompanied by significant challenges for managers. Managing global operations across diverse cultures and markets represents a big challenge and opportunity for companies. To compete in the global market and be successful, companies must learn the strategies, policies, norms and technology necessary to conduct international business. The opportunities for global expansion are numerous, and attaining success is a matter of developing the right strategy to win local markets and its consumers.

This report aims at providing an overview to the challenges posed to organizations that are intending to extend their operations into both the regional and global markets. A major reason why most organizations fail in the pursuit of globalization is not necessarily due to the strong competition experienced by other established multinationals but rather the lack of foresight on the bottlenecks present in participating within these markets. As such, they fail to incorporate means of solving or going around such

International business is taking different shades and is unavoidable today. This dynamic world is rapidly changing to the extent that is has been reduced to a "Global village".

Companies can decide to go global or to enter international markets for various reasons, and these different objectives at the time of entry that enable the business to produce different strategies and the performance goals, and even forms of market participation.