Globalization refers to the plan of pursuing opportunities anywhere in the world that enable a firm to optimize its business purposes in the countries in which it operates. This idea has opened the door to many opportunities but it makes many challenges. Our reading defines the development of globalization in a business. The first level, which often entails export-import activity, has minimal effect on the existing organisation orientation or on existing product lines. The second level, which can involve foreign accrediting and technology transfer, requires little change in management or operation. The third level characteristically is characterized by direct investment in overseas operations, including manufacturing plants. I consider that appropriately using strategic planning to enter the market in these phases creates some control. The challenges are addressed in our reading as well.
Jul 14th, 2014
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