Question

Your team attends a trade conference on the subject of globalization. They have attended several seminars both advocating and dismissing implementing a global strategy. You return to the office and share some of what you have learned with the team.

“Globalization is a very interesting topic and can get very heated,” you explain. “There are some countries and companies who are fiercely loyal to their homes and would not consider going global. Others see it as a benefit to the company and their customers. Some people here in the states believe that American-made is best because we are contributing to our home country. But, is it? Is it always best to stay domestic? How does this impact pricing? Are you truly helping?”

As your team ponders these questions, you start to think about your position on the topic. Complete the following:

• Are you for or against globalization?
• Is your recommendation for your company to go global? Why or why not?
• How does globalization impact the marketplace as a whole?
• Has your opinion changed from the beginning of the course to now?

PLEASE USE DETAILS AND EXAMPLES SOMETHING THAT HAS NOT BEEN USED BEFORE. Thank you!

Answer 1

Yes, I am in favor of globalization.

Yes, my recommendation for my company is to global. Reasons for choosing globalization as a strategy for my company are as follows:

• Globalization strategy is helpful to reach a wide range of customers

• This is one of the most effective strategies to enhance market share

• Globalization strategy is an effective strategy to understand the preferences of customers from the different socio-economic and cultural background

• It is an ethical way to develop a cultural relationship with communities from different cultures

• It is the easiest way to increase operational revenue

• Globalization strategy is a highly valuable strategy to promote brand value around the world

The globalization impact market place around the globe

• Enhances the market share of an organization

• Increases customer reach

• Improves brand loyalty of an organization

No, my opinion has not changed from the beginning of the course to now. I was sure enough about the efficiency of globalization without hampering the domestic market. Organizations must need to explore new customer base to enhance market share and profitability. Upgrading of the communication system and international business strategy to sustain the globalization strategy.