Globalization is What Has Brought the World Together - Essay Example

Analysis of Articles These articles aim to talk about how globalization started as a strategy for developed nations and today has moved into the hands of the developing ones. They are centred on business and entrepreneurship and suggest the reader about how power has moved into the developing countries like Latin America, Mexico, and South America. Globalization is what has brought the world together. This is how companies have been able to compete with each other, try and take over each other and thus determine their position in the global market today. Each company has its own strategies and ways of trying to establish itself in the international scenario and try and make it large. The main theme discussed in all of them includes measures taken up by companies in order to improve the goodwill and inner workings of the companies in the long run. It talks about what kind of potential companies have and how they tap the same and get the best results for themselves. Within the business frame, concepts like outsourcing, using developing nation’s resources for a better advantage, as well as bringing about change and innovation have been discussed here. They are based entirely on entrepreneurship and gauge into how an individual can actually evaluate or assess the kind of potential his or her company probably has. They talk about the proper scope that every company has but probably fails to recognise. Right from when an individual begins a venture to the company becoming a global phenomenon, these articles come into use as they talk about small companies, large ones, as well as the different kind of creativity and innovation that has to be brought in, in order to bring about diversification and expansion within the companies, and make them survive on the global frontier. Most of the authors of the articles have done a lot of in depth research into the corporate front and have tried to put forth a view that can be adapted as the reader and change his mind set about companies that exist in the world today. These articles are very well written and provide a stark example of how the business world is a very dynamic place and how this environment is under the watchful eye of a constant change. It is this very change that leads to sudden ups and downs as some companies gain and others lose in the market, and it is this very attribute that makes the entire corporate scene so fascinating in a manner that it is very difficult to ascertain which company will be on top, and when. These articles also focus on how companies and industries in different countries are benefitting themselves by going into an in depth research and analysis about the various key ingredients that are essential to the success of any enterprise; for example, the Japanese are doing it wrong because they are not able to grasp the market better. This has been written in one of the articles and it has been shown with the help of graphs that Japan is losing its established strength because it is outsourcing all its important work to leaders who represent other countries. Firms are not giving the top level positions to their own people and so even if the company is Japanese, the leaders are getting the spotlight and the country is not rising in terms of its income as much as it could have. Another example, a contradiction to the same has been provided as it focuses on how China is trying to take over America by using its resources and setting up factories at length in order to improve its business and then send most of the finished goods back home, as well as export it to the rest of the world. This is how it is taking advantage of the bigger, developed nations for its own good. The best part about the capture is that no company is really defying or going against any kind of laws; they are merely using their knowhow and human resources to the best of their potential and abilities in order to make their companies grow and expand and take over the entire international market. This is globalization in its true sense; the integration of one country’s economy and economic development through the different firms and industries of that country with the world’s economies, companies and enterprises. Entrepreneurs have to do their best in order to stick it out; satisfaction is not enough because in the case of the global market, new ideas and creativity and innovation has to be brought in at every level in order to remain in the competition. Thus, a few examples of the same have also been provided. McDonald’s is a very good case in point for this as the company has done a great amount of work in order to find out what its customers really need and have created the demand for. Thus, the company has done well in providing the supply in the form of different types and kinds of tastes of burgers for customers in every country. This is what sets the joint apart from other burger and fast food joints and has made it one of the more dominant firms in terms of fast food in the world today. Every company must also have a proper inner functioning. There have been a number of guidelines to proper management of business in terms of human, physical and financial resources, and for every company to grow and develop; taking care of these essential resources is what is of primary importance. Employee dealings are also something that have been discussed in the given articles, and there are many companies that do very little to promote their employees to better positions in order to reduce on costs and specialise their workers and help them get better at the jobs that they do. This helps to create occupational specialization in the long run too. In order to truly gauge the amount of success a company can have in the long run, paying a lot of importance to the human resource and management is very important. Promoting and having the best people to represent the companies in the global market and the media and press is very vital for smooth functioning because after all these ambassadors become the face of any company and should have all the requirements to be able to face the public. The reason why most companies fail and are not able to rough it out in the big corporate world is because they are not able to manage their resources carefully. This need might not arise at the beginning of a venture because enthusiastic businessmen tend to go ahead with the plans in the beginning and then slowly fade out with the interest to keep the company together or to learn to manage things. These articles have been written with great detail and are a very good source of information for budding businessmen and entrepreneurs because they aim to provide the pros and cons of the global world in terms of corporations and multinationals worldwide, and what they could do to either improve their situation, or raise their standards even higher. Only by reading such articles can a person also aim to benefit and gain and try and nurture ideas in his own mind so that maybe he can come up with something to suit the demands of people. To conclude, I would again like to point out how imperative it has become for companies to shine on the global scale in order to truly be representations of excellent sales. This means that if they want to survive and have long term goals, then they must first scan their environments and cater to whatever opportunities are feasible and are arising out of people’s needs and demands. If there is no need, then companies should have the ideas to create one. Long term goals are very important for any industry because only in the long run can expansion and diversification be possible. Also, to sum up, creative thinking and bringing about constant changes in the products and services are vital to building a proper customer base. Apart from this, companies should also look into their inner functioning because their marketing strategies and management is what will ultimately set them apart and help them win over the persisting competition. This is how a firm can truly rise to power in today’s global world. Works Cited 1. Yuva, John. "Shifting Globalization Into Reverse" Inside Supply Management. February, 2009 2. Prasso, Sheridan. "American Made, Chinese owned" Fortune. May 24, 2010. 3. . Ferdows, Kasra. “Making the most of foreign factories” Harvard Business Review. March-April 1997 4. Gumbel, Peter. “Big Mac’s Local Flavour” Fortune 500. May, 2008. 5. Farrell, Diana. “Assess your company’s global potential” Harvard Business Review 6. “The New frontier for Corporate Japan” The Economist, August 2010 Read More