The Benefits of a Move Toward Globalization for Organizations

679 Words3 Pages
It is natural if one sees the move towards globalization as a move that benefits multinational enterprises primarily. However, the improvements in transportation, communication and trade links that drive globalization can also be harnessed by small and medium-sized enterprises as well. In order to succeed in global business, however, there are several recommendations for those companies. These considerations derive from an increasing understanding that exporting to foreign markets is simply not enough to succeed in the globalized marketplace (Uchitelle, 1989). The first recommendation is to be flexible. One of the lessons that applies more closely to small companies than to big ones is that while large companies can build brands with global strength, smaller companies often lack that capability. Thus, they must be more flexible in their approach to foreign markets. Small companies need to be able to adjust their products and their marketing strategies to meet the needs of foreign customers, who might be unfamiliar with the brand. (Basu, 2010). The Internet is a critical resource for the development of international business, and it can be utilized even by businesses that do not otherwise enjoy economies of scale. Online marketing helps companies reach foreign clients effectively without having massive scale, and even transportation networks are becoming better set-up for small business to succeed internationally (Askin, 2011). Knowing that entering foreign markets has
Open Document