globalization of markets

globalization of markets - Sze Ho(860929242 Bus 103...

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Sze Ho (860929242) Bus 103 Discussion section 23 Notes for globalization of markets Well-managed companies have moved from emphasis on customizing items to offering globally standardized products that are advanced, functional, reliable and low priced. Multinational companies that concentrated on idiosyncratic consumer preferences have become befuddled and unable to take in the forest because of the trees. A powerful force drives the world toward a converging commonality, and that force is technology. The globalization of markets is at hand. With that, the multinational commercial world nears its end, and so does the multinational corporation. The multinational corporation operates in a number of countries, and adjusts its products and practices in each-at high relative costs. The global corporation operates with resolute constancy; at low relative cost-as of the entire world were a single entity, it sells the same things in the same way everywhere. Modernity is not just a wish but also a widespread practice among those who cling, with unyielding passion or religious fervor, to ancient attitudes and heritages. The world’s needs and desires have been irrevocably homogenized. This makes the multinational corporation obsolete and the global corporation absolute.
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