Essay - Globalization What is Globalization? Globalization is a Pattern in Business...

Globalization

What is Globalization?

***** is a pattern in business and economic market in which strategies and operations are *****tegrated worldwide. It ***** a process of creating a worldwide ********** wherein expansion, growth, and development is viewed on wider perspective ***** the global market. In simple terms, globalization ***** catering not only for ***** local needs but for international distribution of products ***** services.

Since the past few years, globalization has been a large factor that affects the ***** status and condition of many businesses. Moreover, an organization's ***** level has an impact on its success as ***** consumers in today's market give more attention to a globalized ***** rather th***** on one ***** operates in a traditional method of doing business. Globalization does not ***** mean having the presence and aligning in the global market. Kedia and Mukherji suggest ***** following on what globalization really means.

The challenges, however, are not restricted ***** meeting changes in the global competitive environment, but to also look at ways in improv*****g organiz*****ional per*****mance and increasing individual development simultaneously.

Therefore, globalization ***** means competing in the international ***** - enhancing the ability to face the diverse challenges dem*****ed by ***** global market in order to become the number one in ***** industry where an organization belongs. As indicated by Kedia and Mukherji,

***** any business, the conventional model will no longer have the same validity, ***** the greatest opportunities and ***** would be from the global market and its attendant challenges to operate differently.

Key Characteristics of a "Global Company"

Companies are now faced with the different challenges that ***** presents. Thus, to be able to cope ***** the globalization challenges, it is essential that a company possess key characteristics ***** a ***** company.

The foremost and general characteristic ***** a company must possess as a player in the global ***** is having the global mindset. In this, it is cr*****ical that a comp*****ny has sufficient *****, view, ***** awareness of ***** *****ization requires. This is important because it is the company's globalization awareness that can serve as a guide in its fur*****r *****nd ***** detailed development of strategies ***** its pursuit of becoming successful in the global market. Having a glob*****l mindset is ***** door to achieving global objectives and goals. According ***** Rhinesmith, as indicated ***** Kedia ***** Mukherji, ***** *****] is a w*****y ***** being ***** than a set of skills. It is an orientation of the world ***** allows ***** to see certain things that others do ***** see. A global mindset me*****s the ability ***** scan the world from a bro*****d perspective, always looking for unexpected opportunities ***** may constitute a threat or an opportunity..."

***** ***** the ***** mindset, a company can ********** move to further factors ***** being a global company. Actions to putting in reality the aspects perceived in ***** ***** m*****dset should take place. ***** includes the knowledge and skills in terms of applying and implementing ***** and techniques to succeed in the global