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Business and Globalization

            Globalization has a significant impact on product strategy and the decision to standardize or adapt products to global markets. There are several things that impact this decision. First is the laws and regulations in the target market. For example, peoples taste preferences vary from market to market and some countries enact product content regulations. Cultural differences also play another important factor. Companies typically adapt their products to suit the preferences of the local buyers which are typically rooted deep within their culture such as Haagen Dazs did when t created its green tea flavored ice cream for Japan. Brand and product names are another issue affected by globalization. While brand names do not typically offend people in international markets, product names can be highly offensive or may mislead customers and translate poorly in the local language. The National image of the country is another considerations while products being made in some countries may make it seem of superior quality and craftsmanship other countries this is not that case and can lessen the value of the consumer places on the product. Counterfeit goods are also having a major impact on the marketability of products. Many times the counterfeit product is made of lesser quality and are damaging the customer's image of the products. Lastly the pace at which technology is evolving is making it harder and harder for companies to recover R & D costs in product sales before something new and improved is brought out onto the market.
             International advertising differs a great deal from advertising in domestic markets affects a company's promotional strategy. While cultural similarities can mean ads only need slight modification, cultural differences may mean entirely new ads may need to be created. There are two main promotional strategies push and pull strategies. Push strategies mean that companies push department and grocery stores to carry their products.


Essays Related to Business and Globalization

1. The Global Impact of International Business

The global international business has improved the operations of people in terms of access to the business products. ... World business bodies are formed and organize summit meetings globally. ... Many people have decided to venture into international business careers at the global level. ... International business has promoted the good relationship between people from various societies in this global world hence influencing their lives in a good way. ... Hence, the international business has helped individuals with survival tactics in this global world as demonstrated by the interdependence e...

  • Word Count: 1266
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

2. Global Business

Yet despite its presence in the leadership vocabulary for more than two decades, many companies are today struggling to draft the right vision for a hyperactive, global business environment. This paper is intended to offer an overview of some of the aspects of conducting business globally and aims to identify ways in which businesses can tap the gains of this process, while remaining realistic about its potential and its risks. ... Technology Challenges No other technological advancement has enhanced global business in the last 10 years like the Internet. ... Generating global business ...

  • Word Count: 1681
  • Approx Pages: 7
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3. Shell as a Global Business

The following business report is in reference to a global company I have studied. ... This report will give a brief insight into the business Shell is, as well as identifying its major international targets, and analysing its reasons for global expansion. It will identify the influences on this business in the global market, and explain the strategies used by the business and its branch office managers to achieve its markets. ... Global businesses enter foreign markets for a number of reasons, all of which are ultimately linked to the desire to increase sales and profits. ... Global busines...

  • Word Count: 1675
  • Approx Pages: 7
  • Grade Level: Undergraduate

4. Globalization

I totally understand that this is merely business strategy but doesn't seem to me to be a very ethical way to do things. ... Mcdonalds is a prime example of a company conducting business in other countries. ... The business didn't attempt to compete with Chinese fast food restaurants in fear of forming bad relations. ... Countries that do business together in a sense form alliances that can be vital when dealing with political issues." ... McDonalds has paved a way to success in the global market, and also global affairs. ...

  • Word Count: 1668
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: High School

5. Globalization

Worse, the processes making up what is called Globalization do not promise to produce more global integration in the future. ... The pre-established industrial power that is able to benefit from the changes set about after 1989 will of course move very much further ahead, perhaps acquiring new advantage with which to exploit weaker entities with which its business community deals. ... The stress on maximizing the interests of American and other transnational business interests in the absence of many previous barriers has let American capitalism move forwards into parts of the world hitherto ...

  • Word Count: 3222
  • Approx Pages: 13
  • Has Bibliography
  • Grade Level: Graduate

6. Men and Women - Military and Global Business

While choosing for a particular issue to discussed the different leadership styles of men and women; I decided to research on both the military and the global business. There are increasing numbers of women in the military as well as increasing numbers of women around the global business. ... Lastly, I will discuss how men and women do business in the Middle East, Latin Americans, Asians, Europeans, Africans, and North Americans. ...

  • Word Count: 694
  • Approx Pages: 3
  • Grade Level: Undergraduate

7. Globalization

"Both Government and Business contribute to economic development, depending on each other to generate strong economic performance" (Cowan. 2002, p89). ... This paper will discuss the history of globalization, globalization will be defined and the effects had on the world's economy will be analyzed. ... These early waves of globalization provided some useful lessons. ... Between countries globalization is now mostly reducing inequality. "About 3 billion people live in "new globalizing" developing countries. ...

  • Word Count: 1685
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: Undergraduate

8. Globalization

Strategic business unit (SBU) is defined as: A subgroup of a single business or collection of related business with in the large organization. ... Star is defined as: In the portfolio matrix, a business unit that is a fast market leader. ... Cash cow is defined as: In the portfolio matrix, a business unit that usually generates more cash than it needs to maintain its market share. ... Problem child is defined as: In the portfolio matrix, a business unit that shows rapid growth but poor margins. ... Dogs is defined as: In the portfolio matrix, a business unit that has low growth p...

  • Word Count: 2146
  • Approx Pages: 9
  • Grade Level: Undergraduate

9. Micronomics and Global Business

Demand is defined by Business Dictionary (2014) as Desire for certain good or service supported by the capacity to purchase it". ... Some examples of how Globalisation has improved are: - Increased International trade massively - Allows a company to operate in more than one country - Creates a greater dependence on the global economy - Creates large recognised companies such as Coca-Cola and Starbucks Within looking at the different key drivers for globalisation, there are two important key drivers in businesses which have improved Globalisation. ... Finally the rapid growth of the In...

  • Word Count: 2078
  • Approx Pages: 8
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10. International Business and Globalization

1.0 Introduction With the process of globalization, a surging number of companies are diversifying and expanding trades and capital abroad. These companies, known as "Multinational Enterprise" which implicates the organization that do business in multiple countries rather than only in domestic economy. ... Negotiating business during a meal is a common phenomenon in the United States, however, it is an inappropriate behavior to bring up business at mealtime unless the host does so first. ... However, many globally popular customs are banned in some nations. ... Social structure pl...

  • Word Count: 1564
  • Approx Pages: 6
  • Has Bibliography
  • Grade Level: Undergraduate

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