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1 Global Dimensions of Business Student’s Name Institutional Affiliation
Global Dimensions of Business Introduction Global dimensions in business examine the current regulatory, technological, and global market shifts that have led to significant changes in insurance companies and financial institutions such as banks. Understanding the concepts of global business strategy helps to improve business inspiration, allowing investors to have a clear picture of what is going on in the international trades. A well-known methodology is that global strategy is a company's expectation to offer standardized products and services from a global perspective. Another definition recommends that the global dimension of business is any technique applied outside one's nation of origin (Amponsah et al. 2017). In the contemporary world of business, global expansion is believed to be an essential approach for large organizations where their trademarks are recognized in various parts of the world, creating a significant potential for global competition. Hout et al. (1982) recommend that before an organization chooses to enter the global market, evaluations ought to be made on whether the products or services to be offered have the right quality to support and provide a competitive advantage in the global market. In the previous decades, international markets have experienced significant changes within the international business environment, which led to the emergence of newly industrialized countries such as Europe and Asia ( Jiang et al. 2018 ). In the following discussion, three companies are identified for their successful execution of global competitive strategies. The companies include the American Honda Motor Company, Caterpillar Machinery Company, and LM Ericsson Networking Company.
Reviews of the three companies Honda Motor Company: it is an American vehicle manufacturing company founded in 1959. The company became globally known after selling its first automobile in the United States in 1970. The company's primary strategy was to accommodate the middle-class people and convince them about the quality of the brand. Caterpillar Machinery Company: it is an American corporation that designs engines and machinery and sells financial products and insurance products globally to consumers. The company is classified as the world's biggest construction machinery manufacturer. The company has financing, manufacturing, and repair facilities that are global and are best managed locally.

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