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Globalization - Research Paper Example

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Globalization Contents Contents 2 Globalization 3 Recommendation for John and Deborah’s corporation 3 Impact of globalization 4 Opinion 5 References 6 Globalization Globalization is an interactive process. It integrates the government, companies and people of different nations…
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Download file to see previous pages I support the concept of globalization because it helps a company to grow and expand its wings. The various ways by which globalization helps a company to spread widely are cited below. The process of globalization incorporates the regional economies, culture and society, through a global network of execution and communication which helps the company to communicate with a larger group of consumers. It refers to the reduction and removal of national barriers in order to maintain the flow of goods and services which as a result unites different nations It is a trend for the countries to move forward and join together economically. The concept is to view the whole world as one nation Globalization gives consumers an exposure to the world of various goods and services according to their need (Bergen, 2004). Recommendation for John and Deborah’s corporation From the inception of the business in 2002 till 2006, John and Deborah had made good progress. Due to the sub-prime crisis and economic slowdown in US, the housing marketing is facing setback, so the sales of furniture have gone down. They are also threatened from the high end brands that are marketing aggressively and also creating lines for the popular retail stores. Seeing this scenario it would be advisable that John and Deborah’s corporation should think of expansion to other countries. The company should proceed globally as they possess certain strengths such as in house designers, exceptional customer service and superior quality of furniture. As their primary source of revenue is from catalogue sales online, they can expand their business by stating on their homepage that the company welcomes inquiries from any country in the world. They should also mention that they are willing to ship outside United States. The company should diligently deal with the customers by using cash advance, letter of credit or using a freight forwarder. The pricing will be high if they exports as they are already dealing with expensive products. So they can consider alternative way i.e. to have manufacturing unit in the target market to meet their demand. As the company has in-house designer, so they will not face problem regarding the designing and also there is the flexibility of rapidly changing the designs as per the requirement of the market. At the same time they are providing the customers an exceptional service for which they are well known. Impact of globalization Due to globalization, the size and pace of trade and commerce is increasing. This is possible because of the dramatic reduction in communication and transportation cost. The expansion of trade is the one important aspect of globalization. Other major indicators that can be considered in this case are the foreign direct investment and growth of international capital market. The companies and individual have paved the way by which the organizations can cope up with the risks associated with foreign currency and interest rate. They can also make investments speculatively (Lerman & Schmidt, n.d.). Globalization has a positive impact in case of creating employment in different countries by giving rise to emerging industries, but certain demerits are there too. For example the developed countries dominate the developing or under-developed countries. The employees may have to move from one country to another due to globalization. In that case the workers ...Download file to see next pagesRead More
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