Globalism Article - the methods in which business is...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
The global business environment has changed drastically in the last decade as more and more international trade has resulted in increased economic activity in the global marketplace. The advent of the borderless world has created both opportunities and threats as not only do countries benefit significantly from foreign trade but they must also consider the fact that in doing so they are increasingly tied to another country for the production of goods and services. This creates an alliance on countries that may not always be as stable politically and economically as the US. Competing in business now requires managers to manage their business not only domestically but abroad. Doing so requires a skilled team of individuals that can leverage their business knowledge along with experts in the particular countries in which they are involved in order to gain a better understanding of the culture and
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: the methods in which business is conducted in those countries. The failure to understand the target market will absolutely result in a failed business plan and as such a team that consists of the right professionals is necessary when working globally. Foreign direct investment is another key advantage in globalism in that it allows more developed countries to sponsor substantial growth in emerging markets that might not otherwise have been created. The result is an increase in global output and production resulting in most cases in a higher standard of living. Even smaller companies benefit as they are pulled into supplying those companies that do business locally even if the smaller firm only produces products or services domestically.
View Full Document

This note was uploaded on 11/04/2011 for the course BSA/310 BSA/310 taught by Professor Forman during the Spring '10 term at University of Phoenix.

Ask a homework question - tutors are online