Globalization in the World Today Essay
1197 Words5 Pages
Globalization is changing the way of doing business in the world today. It is the new era of business opportunity. For many major companies, going global is a matter of survival, and it means radically changing the way they work. Economic globalization changes both spatial dimension of MNE’s (Multinational Enterprises) and creates a need for more flexible production of marketing systems and new forms of organization. Firms trying to position themselves as global players face problems such as the cost of building a simultaneous presence in several product areas and foreign markets. They must also be able to manage cultural difference and be able to carry out effective cross-cultural communication. Global skills must be an integral part of…show more content…
The atmosphere became so tense that even the most trivial business dealings between the American and Chinese became bogged down in charges and counter charges (Tse 32). Differences in customs, behavior, and values result is problems that can be managed only through effective cross-cultural communication and interaction. All employees should learn about the about the influence of culture and be effective cross-cultural communicators if they are to work with minorities within their own society or with foreigners encountered home or abroad (Harris and Moran 59).
Globalization involves doing business around the world in a new way giving companies an opportunity to explore the world market. The idea of a global-player involves low-cost and new customer. In Asia, Europe, and many other parts of the world, there are thousands of service and product markets waiting to be filled. The Chinese consumer market is one of the most attractive countries for the global-player. The Chinese economy has been growing rapidly in past decade under its “open-door” policy on foreign trade, investment and finance For example, China is one of the most discussed topics of a business opportunity for global-player around the world. This is because China has a
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