General Electric

Globalization is the process by which the markets of different countries become integrated due to the exchange of goods, services, technology, and capital. Globalization depends on social, economic, and political factors, and continuously alters the way that the world works. All the vital components of the evolving global, political, economic and social institutions being examined seem to constantly converge and to perpetually intertwine during the day to day administration of global affairs. Diplomacy is employed to keep a measured balance between conflict and cooperation. The global guarantees of international law are placed in sharp contrast to the grim reality of human rights on daily basis and policy is dictated by the scales of political power and the urgent priorities of economic necessity. To understand how the globe functioned in the past and how it wishes to function in the future, we must study each factor separately and observe its inevitable interactivity with the other factors that occur. It is important to note that none of the dynamics can be given greater weight in comparison to the other crucial instrumentalities.

Which of these forces and factors are the most important to the corporation and to the industries in which it competes at the present time? Which will be important in the future?

Due to the growing competition and diminishing market share, companies are opting for different strategies to achieve their survival objectives as well as growth. Companies are thus executing grand strategies to provide their businesses with a clear direction for its strategic actions. These strategies, therefore, aim at both short term and long term sustainability and growth, and they include innovation, market development, product development, and concentration.

Pearce, J. A. II, & Robinson, R. B. (2009). Strategic management: Formulation, implementation, and control (11th ed.). [University of Phoenix Custom Edition e-text]. New York: McGraw-Hill. Retrieved August 20, 2011, fr

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that technology is usually seen as an external force which is usually introduced to a social situation. However, contrary to the view of most sociologists who support technological determinism, majority of the scholars have argued that social forces determine technologies (Hutchby, 2001).

There are four categories in a Macro Environment forces which are political-legal, technological, social, and economic which are external resulting in molding a business such as AutoZone to either succeed, weather the storm or fail. Social would be trends or values gearing toward vintage cars with those neo blue lights that I have seen so many of them lately making the under carriages glow at night which can be bought at AutoZone. Political-legal it would be judgements or settlements such as in the Spectre Filter Settlement listed on their website (www.autozone.com), product recalls listed on their website and also their job opportunities which have state and federal guidelines to abide by. When it comes to the technological force all businesses

Strategy is important for any business, as the combination of goals, perspectives, beliefs, and actions that comprise a company's strategy have a direct impact on that company's success, profitability, and impact on the industry, environment, and community in which the company operates (Thompson et al, 2011). Without a proper strategy in place any business is ultimately doomed to failure, as improper strategies or a complete lack of focused strategy leaves a company vulnerable to innumerable risks arising both internally and externally, without an effective means of taking advantage of opportunities or ensuring operational efficiency and effectiveness (Thompson et al, 2011). Smaller businesses and single-business companies, while simpler to operate in some ways, can be even more dependent on successful and well-adjusted strategies, as they are more susceptible to shocks and sudden changes in their chosen industry of operation (Butler, 2001; Longenecker et al, 2005).

Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).

Gradually the new markets have been emerged on the world map and the new trade points have been made (Maull, 2001). These developments are considered to be

Identifying influencing factors of a company’s macro-environment helps in the strategic development and management within a company. The macro-environment outlines an industry and the competitive environment as seen in figure 3.1, (Gamble, Peteraf, Thompson, 39). Within the macro-environment there are the political factors, economic conditions, sociocultural forces, technological factors, environment forces, and legal/regulatory factors. All of these factors blanket the habitat an industry and its competition thrive in. Inside the industry and competitive environment there are five factors that influence an individual company. The five factors are suppliers, rival firms, new entrants, buyers, and substitute products. The biggest impact on a company are these five factors. For example, Under Armour focuses on their industry and competitive environment to survive and grow. Their strategy to win over the market share from Nike and Adidas consists of expanding a stable and original brand within record time, taking an innovative approach to their product line-up and brand-name appeal where the market seemed to be barren, and lastly, the company enters in the foreign market early on to establish its brand and influence markets outside of the US.

The newly appointed district sales manager, Larry Barr, faces the problem of allocating sales quotas among his various sales representatives. This decision will affect everyone's earnings including his own. This problem is compounded by the fact that different territories have, for a variety of reasons, different potentials. In addition, the territory that is known to be the toughest will soon require a new sales rep.

Competition, typically the most powerful external force, is increased by the advent of globalization. The number of companies and the number of countries where these companies operate and the way governments are dealing with the impacts of globalization is accelerating. The interaction of changes in government policy and business innovation has actually made globalization even faster. If a company does not become a global, it would simply be shut out of new markets. The reasons for the turmoil are numerous: a sputtering economy, increased global competition, the implementation of new technologies that displace jobs, the deregulation of certain industries, and the general

Traditionally, strategic decisions were thought of as "big decisions" made by general managers. However, big strategic decisions may not be the only source of competitive

Global markets: goods and services for global marketplace. They have to decide which country to enter, how to enter, has to have a fit the cultural practices etc.