Question

2) Ms. Norberg-Hodge declares that globalization is absolutely necessary, and that it is critical especially now, even though there are problems associated with it. What do you feel must be done in order to encourage globalization, but avoid or minimize the problems she identifies? (Approach this question by discussing: a) what government leaders can do, b) what consumers can do, AND c) what upper management in companies can do). Explain your answer

Answer 1

answer-

Globalization is the concept in which countries of the world and people living in this interact with each other. Globalization has made the whole world a single place to do business. In order to encourage Globalization, the key role played by government, Consumers and Top management of companies like CEO, president etc.

Government leaders like president of a country can encourage globalization by focusing on making political relationship with other countries friendly. this can be done by making treaties like NAFTA or EU in which government of country members made trade free from barriers like tariffs, duties and taxes etc. Government leaders make international business policies in which Government can provide subsidies to foreign companies to invest in their country so that economy of their country gets stronger. Government of developed country like US can also support poor countries like Bangladesh, or developing countries like India in times of financial crisis or natural disaster crisis.

Consumers also plays important role to encourage globalization because The consumers in from different country can create huge demand for other company's products . this helps company to meet their demands. for example- Consumer demand for cheap and affordable smartphones attract companies like Samsung, Xiaomi, Lenovo in India because of consumer market of India.

The role of Upper management in companies encourage globalization by doing international business in which CEOs of companies take decision to enter into foreign market and do business in their country. for example- Apple can establish its manufacturing facility in any country to do international business and offer low cost iphones which would help in globalization.

another example- Starbuck's CEO take decision to launch its store in Japan or any country to make good relation with customers and government of that country.

A company can do JV or strategic alliance to do international business with another country's firm and create a platform for globalization encouragement.

There are many options in front of top management to encourage globalization like exporting, licensing, joint venture, franchising etc.

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