Corporate Profile Module III:
You are to include 3 independent articles in this section.
6 pages long
Globalization
- Why do companies engage in international trade? Is your company “global”? If it isn’t, why do you think it has chosen to remain purely domestic?
- If it is global, what cultural and legal differences does it encounter in the global business environment?
- What form of international business activity does it engage in?
- Which strategic approaches does your company use?
- If your company does not engage in international business activity, what country do you think would be good for your company’s expansion, and what strategic approach would you suggest?
- If your company does have international operations, do you think the selected strategy is working? Would you change anything about your company’s strategy?
Answer preview
Globalization refers to the process by which business institutions and other organizations take to the international level of operation (Baylis & Owens, 2017). It involves expansion of the scale of operations from the local and national regions to an international horizon through interacting with other countries. There are many reasons why companies engage in international trade. Engaging in international trade expands the market scope. With this expansion in the market, it leads to accessing new sources of income. The increase in profitability leads to a steady rise in turnover and stability. Globalization also amounts to a competitive strategy. It is as well a good way to build the company’s image and name. This better branding also becomes appealing to highly qualified personnel for employment. Globalization is also a mechanism adapted towards spreading risks as it aids in countering regional issues from one sector with another sector. Innovation is another advantage of globalization as it provides motivation for the development of new products and services. Moreover, international trade is a way of enhancing the economy of one’s country.
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