Pro 3062: Global Business Management

Globalisation is the internationalization of trade and often forces businesses to adopt new strategies for operations to suit different cultures and economies. The often easily saturated domestic market has triggered many large

This article relates to our class because it shows how the actions of one organization or country affects many other in international business.

One of the core tenents to running a business is for a business to make money and to increase in size. As a result of that engaging in activities that increase a businesses capability to make money and increase its size is of great importance. Furthermore, as a result of that focus on increasing the sizes of businesses, globalization has furthered the spread of business. Globalization influences the world economically,

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.

The business activity of companies in most industries is affected by the process of globalization. The need of globalization was determined by the necessities of companies that had to address markets in other countries in order to expand their business. In addition to this, they had to reduce their costs by hiring employees from other countries, and by outsourcing some of their processes to other regions.

Hill, C. (2011). International business, competing in the global marketplace. (8 ed.). New York, NY: McGraw-Hill Irwin.

After reading the first half of the text, I learned about the topics of globalization, economic development, international financial markets, and more. International business is relevant in almost all news articles today. Although I have learned a large measure of information from each chapter, I was mostly interested in chapter five’s topic of international trade which discussed how countries sell, purchase, or exchange goods across national boarders.

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,

The forces of globalization are generally credited with the major role played in increasing the access of organizations to countless resources. Due to market liberalization for instance, large corporations are able to import cheap resources from various global regions and as such patronize the market through price leadership strategies. Nevertheless, another crucial characteristic of globalization is that it allows economic agents an incremental access to larger customer markets. This virtually means that manufacturers get to sell their products to numerous global regions and exponentially increase their revenues.

If we talk about the role of media in globalization process we should firstly say that what the media is. The media is media technologies that are intended to reach a large audience by mass communication. Today the media play a key role in enhancing globalization. And the media also play important role in facilitating culture exchange flows of information between countries. The media spreads through international news broadcasts, new technologies, television programming, film and music. There are a lot of broadcasts of media. Foe example: We can say about internet, TV, radio, newspapers, books, billboards and etc. The media connects the world to a network of information easily accessible for all of us. In this discussion arises a question: Which role has media in globalization process? I think the role of media in globalization process is very important. And my point of view is that the media is a part of the globalization process, it is like “pen” of the globalization process, because media shares everything that the globalization process dictates. The important role in globalization process has Internet, which connects all the countries around the world. Internet is called “world wide web”. So if we say about the globalization process we should remind that the developed countries globalize enough. However, there are some countries which do not globalize enough. For example, states of 3rd world, hungry states and others.

Hotel Chain as showing to us practice is the most effective way of integration to hospitality business. The main advantage of such integration it is immediately creating customer base and bigger potential market of customers, cost reduction due to general management, logistics, marketing; common quality standards; centralized training and, as a consequence of all

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.

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.

Well known companies like Nike, Microsoft, Sony, Shell Group are just some of the big companies that went global and expanded their trading around the world, they are large businesses that operate internationally in many countries. Development of worldwide integration urges companies to reach out international markets and interact with foreign customers. Businesses focus on fulfilling the demand of the market by its products or services, besides their target is increasing profit, in order achieve these goals they favor to expand their work in a foreign market. Other reasons to internationalize their business may be to become

Management plays a crucial role in globalisation of a business, they do research and appoint qualified executives to help implement strategies and plans set by top management and chose the right style of management to manage the global business and strive in a competitive market. Manager of such global business are faced with many problem and issues, ethical issue and environmental issues, management of global business they learn from such problems.