Impact Of Globalization On The Global Business Environment And The Expected Future Trends

In this report I am going to define the meaning of Globalisation and assess the impact of globalisation on the way the business operate.

The Council on Competitiveness is a “nonpartisan, nonprofit organization, where members are corporate chief executives, university presidents, and labor leaders dedicated to setting an action agenda to drive U.S. economic competitiveness and leadership in global markets” (Fisher, 2004, p. 197). Having

Competitiveness is the force needed to win when in competition with other competitors in the same business. Country competitiveness can be defined as the amount of riches a country is able to generate more than its competitors. It can also be said to be the major determinant of the standard of living for a country and also the main its source of income. Productivity is also

The impact that globalization has and will have on the U.S economy continues to be one of the most debated economic issues of our times. Many people believe that due to the international trade there are less jobs and lower wages for people. International trade is important to the America economy, and to the economy of the world as whole, because neither the United States nor any other country in the world has everything that its people need and want. Globalization and international trade, come with a brighter view of the international trade and it has positive impact on economic growth of the United States.

There have been many different reactions towards Porter’s theory on how nations ought to compete. Some responses were validated while others rebutted his theory. Firstly, the positive response will be discussed before focusing on the criticisms of Porter’s theory. Oz (2002) implemented Porter’s Diamond model to analyse the competitive advantage of five Turkish industries and the outcome was favourable and thus validated Porter’s theory. For example, the uncompetitive Turkish automobile industry resulted in uncompetitive companies, while the presence of demanding buyers and hence intense local rivalry in Turkish construction and leather-clothing industries pushed the companies to innovate and become globally competitive. The Turkish findings by Oz thus validated Porter’s theory that indeed, competitive industries of a nation are inclined to cluster together.

Competiveness: If we do business, we produce a product that is competitive and attractive and cheap just like Steve Jobs do.

In a global environment, the strategies that managers pursue have a significant effect on a business performance as compared to the competitors. Hill and Jones define strategy as a set of actions that a company’s managers put in place in order to increase performance of the company (2013). When the strategies lead to a superior performance of a company relative to its competitors, then the company is said to be at a competitive advantage. This is a case study of Federal Express, in the small package express delivery industry. It

The trend I have chosen is the Internet, anywhere, anytime. I believe it is very relevant in today’s international business environment and affects everyone in the global economy in some-way.

What is globalization and what effects will it have on businesses and their leaders? According to globalization101.org (n.d.), “Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.” Globalization occurs when companies expand outside of the borders of their home country, and it involves recruiting the best human resources available around the world as well as utilizing the latest in technology and training. The business leaders of today need to be able to communicate across cultural divides as well as using training and technology effectively in order to compete on a global level.

Does globalization only have adverse effects on large corporations? In theory this reading should provide the reader with the information that Globalization is not just a concept that effects large corporations, but also small businesses along with their employees. Through the following, effects such as, outsourcing, telecommunications, and developments in new technologies.

Globalization encourages worldwide business. Globalization is an efficient process by which all the nations of world will commonly try to set regular universal standards & regulations (both created & recommended) which will encourage business around different nations. Business around nations or elements crosswise over different fringes is called universal business.

Globalization encompasses new challenges to the business industry. Nowadays an organization may face changes and must adapt strategically in order to stay on top of its competitors (Nielsen & Montemari, 2012).

Over the last number of years, it could be said that the growth in the global economy has increased a vast amount and is rapidly continuing in this direction. The world as we know it is now becoming progressively more connected through a process called Globalisation. Grossman and Helpman (1993) say that there are two main trends too which are key contributors that help make up this process of globalisation. The first of these being the advancement in technology innovations and secondly following this the idea that nations in the world are becoming more open, however also more independent. To continue from this, a third trend suggested by Bates (2010) is now a recognition that education at all levels is now a global service industry. In addition to this, Jeffery S (2002) implies that Globalisation’s extensive definition could be a disguised title to a great deal of underlying issues and therefore could be a buzzword that is being frequently used to describe current world situations to do with trade lines between countries, a freer movement of capital goods and services and a general more all-round greater dependence on the global economy – including education. Burbules and Torres (2000) suggest that the change in dynamics through globalisation would therefore have a further cause for concern on people involved in the educational endeavour. This essay will look at international development past and present and will discuss the crucial role education plays within this with

Competitiveness is the way companies and people or organizations to meet the test of markets while at the same time maintaining or expanding the real income of its people. Competitiveness is measured by productivity; productivity is measured by dividing units of output by units of input. A great sign of productivity is when the economy expands its capacity to supply goods and services.

In today’s fast-moving, ultracompetitive global business environment, you can’t rely on stable teams to get the work done. Instead, you need “teaming” (Edmondson, 2011). A team is a unit of two or more people who interact and coordinate their work toward a goal to which they are committed and hold themselves mutually accountable (DM p. 588). We had to work in teams and not as a group to get effective results. The steady venture groups we grew up with still work delightfully in numerous settings. By pulling together the right individuals with the right mix of abilities and preparing and giving them an opportunity to assemble trust, organizations can perform huge things.