Globalization And International Business Case Study

1270 Words6 Pages
At current time, it is, without a doubt, essential for a company looking to expand its scope and compete on the world stage of business to, through globalization, incorporate its products and services in the markets of different countries across the world. In doing so, it transcends the breadth of domestic business and starts participating in the realm of international business. This calls on the company to do a total evaluation of its current business outline and prospects by means of globalization to ensure a smooth transition to international business. As a result, in order for a company to maximize the efficiency of its expansion, it is important to find a nexus between globalization and international business by which they
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This could only be done by first investigating the effects of globalization on international business: Most importantly, globalization acts to remove deleterious barriers to trade and investment in the international market since it allows more access to global markets, and creates various business opportunities for firms looking to…show more content…
It bears no surprise that a company’s global strategy is an integral part in its quest to globalization. Therefore, a company must pick a strategy capable of productively and coherently conveying the idea behind a product or service so that it chimes with the local cultural aspect of each targeted country (Roudometof, 2016). Glocalization does exactly that; it blends the international initiative of a product or service with the needs and preferences of local markets as a method of gaining high levels of appeal from their customers. It is based upon the fact that the chances of success of a product within a certain local market are higher when it is adapted according to its cultural element and national identity (Ramona, 2010). There are multiple advantages of glocalization, namely: it appeases customers from all walks of life and therefore yields high profits, it is flexible and capable of staying in touch with the changing needs of varying cultures, and it curbs the emergence of ethical challenges and the costs they portend (Roudometof, 2016). In contrast, glocalization does have some disadvantages as well, mainly: it is time consuming and lengthy; it requires expert advice in a large range of disciplines; and it has been criticized that, although it is
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