I believe it is important to study international business for large and small corporations and any ty... ... middle of paper ... ...ational business just involves or teaches how to manage things when we are running a firm and performing any tasks but it doesn’t matter if you are working in a small firm or a Large Multinational firm. Globalization is changing the world economy. Firms, even small ones, can no longer ignore events going on outside their borders because what occurs in one country has implications for the rest of the world. Individuals who believe they can act in isolation by working for a small firm are not being realistic, but rather myopic and insular. Today, thanks to advances in technology, many small firms sell and source internationally very early in their evolution, those that fail to take advantage of international opportunities may not achieve their full potential, and ultimately may fail as competitors that do recognize the importance of international business dominate.
It is more fruitful to instead focus on particular aspects of life that are indeed affected by the globalizing process. (1). In this new economy, as it has been in the past, it will be the people not the machines who will determine a company's success. Having an effective Human Resource Management team that effectively analyze your company's current and future personnel needs is key in any business organization. Globalization can not only affect a company opening an office in another country but it can affect a small local business as well.
Because there CEO deals with so many different countries, cultures and societies they must learn to quickly adapt to change. They must have a plan of communication established and it should appeal to the culture they are presenting to. Without this most important quality, this is what could make or break a company looking to expand itself.
For example BPM software can look after missing product easily, or walk an employee through steps to troubleshoot why an order did not arrive. This technology is an ongoing collaboration between IT and business users to jointly build applications. This generally helps people to integrate their work and information. In todays modern era , the competion in this global market between the companies is getting harder and making difficult for small business companies to survive. Every business requires developing an effective and efficient strategy to survive in the dynamic business environment.
The always changing global business environment presents countless different challenges to those who are in charge. Business managers must utilize new organizational techniques and discover in what way to make the most efficient decisions regarding the market domestically and also at the global level. Globalization has become more common place in the business community as the barriers of communication and travel have been demolished. Consequently maintaining a consistent corporate culture through expansion has many obstacles as there are different regulations and cultural differences as a firm crosses boarders. Corporate culture is the application of a company’s mission statement, and their ability to transplant that culture from one country to another is crucial to the success of an international company.
Teamwork and social skills are the cornerstone of functioning effectively in a business driven environment because businesses require networking and interpersonal communication skills with another individual. At times, meeting face to face is not applicable so online means of communication must be used. However, we, as human beings, are susceptible to misinterpreting information if all the details are not clearly explained. Misinterpreting information can lead to a decrease in overall productivity. As Chuck Martin declares in his article “The Importance of Face-to-Face Communication at Work”, “A global survey shows that 67 percent of senior executives and managers say their organization would be more productive if their superiors communicated more often by personal discussion.
The evolution in internet has made it possible for many businesses to globalize by giving the businesses a worldwide market for their products. Today, a business cannot be completed without its website giving a complete review of the business and its products. The internet has made it possible for the business to do online marketing and selling their products online and ship them to their customer’s doorsteps. From a busy working schedule people do not find the time and energy to go shopping or go anyplace to get services. Thus studies show that many of the households are adopting the use of internet for shopping and other services.
Now the customers so is firm has moved online, that’s where the service encounter occurs. In case of a physical store, a firm can have all the tangibles to lure its customers. But when it comes online, it is all about luring those using intangibles. Source: http://www.somnathjadhav.com/WordP... ... middle of paper ... ...siness grow in size, so is the requirements and desire for a better and stable CMS. That’s when the time comes for scaling up.
The internet and information technology have become such a part of our society that it is unimaginable to think of a world without it. The relationship between business and consumer can be greatly enhanced or diminished just by a few key strokes and a click of a mouse. Businesses must realize the importance of the internet in today’s business world and also utilize its benefits effectively to experience long term viability. Works Cited Reuters. (2012).
From traditional marketing, there came the online marketing, which is a more modern way of selling products and services with the internet. By just having computers or laptop opened, internet on, and browser ready, someone can take a look on the new products and services available. They are the two broadest categories of marketing which describe the medium employed by business. Traditional marketing, which have been in use for many years is now facing competition from online marketing, which has brought in new innovative ways of doing business for companies. (Internet marketing, 2013) But businesses have questions that are in need of answers.