HOW TO GO GLOBAL

How To Go Global

How To Go Global

Going Global

Over all globalization is defined as a procedure of increasing interdependence among all the people that are living on the planet earth. Individuals are allied mutually such as economically as well as socially via trade, investing money along with the governance. All of these linkages are stimulated through the market liberalization as well as the information, communiqué along with the advance transportation technology (Bauman, 2000).

A global market is an unparalleled observable fact that should not be confused with the economic internationalization that is prevailing in the economy. In reality, a global market economy is in existence ever since the 16th century. The main base of the global economy is on the expansion of worldwide trade, overseas direct ventures or investment as well as migration. The locomotive of the global market economy is based on the nationwide state. Globalization of the world is not the original concept. Globalization offers various benefits to the economies. Researchers are of the suggestion that the only way to survive in the market without having to reduce excessive wages and profits is economic globalization, which is the most important result of advances in technology, becomes in turn a powerful acceleration factor of this progress (Levitt, 1984).

The current globalization is first and foremost a financial globalization, with the creation of a global capital market and the explosion of hedge funds. Globalization results in the instantaneous transfer of capital from one place to another bank based on profit outlook in the short term. Over the decades, the world scenario has been gradually transforming itself with a progressive widening interdependence between national economies and the resulting change in market conditions in which they operate businesses (Friedman, 1990).

The forces that have worked on this transformation are formed by the growing homogenization of consumption processes and the integrating role played by technology by the elimination of ideological, institutional, and economic barriers. The processes of integration and unification of the various areas undertaken by these economic forces gave rise to globalization of markets that have led to the emergence and development of the global market. The phenomenon of globalization involves the interaction of complex dynamics that are characterized by the confluence of common processes, which are not only economic but also political, social, and cultural. Globalization can be understood like a multidimensional phenomenon (Giddens, 2000).

A company before selling abroad must achieve a thorough understanding of international marketing environment in which it wants to operate. The marketer must study the economy of each country to consider the attractiveness of each foreign market. Important parameters are the size of the population, industrial structure, and income distribution. Each country also presents great differences in political / legislative and socio-cultural framework abroad, so the company must define its objectives and international policies (Campbell, 2002).

As the global economy can only protect employment by improving the level of professionalism, or by improving the competitiveness of the national production system, globalization presence as an opportunity for economic and social growth for people who ...