Globalism is the biggest idea in the world right now. Generally speaking, globalization today is a Western idea (although other, earlier cultures took some shots at it), fueled most recently by technology’s forging of a global economy. It’s a powerful offshoot of capitalism and popular culture, yet it’s being debated in almost every country, and it’s become almost impossible to hear a major political speech that doesn’t mention it. But globalization is an elusive notion. Skeptics argue that it’s a highly exploitive western force and profit center that represents business as usual for corporatists exploiting new worker pools and marketing possibilities, and for despoiling the rest of the environment. The globalization of market is at hand. With that, the multinational commercial world nears its end and so does the multinational corporation.
Different cultural preferences, national tastes and standards, and business institutions are vestiges of the past. So say Theodore Levit, a Harvard business professor. The world has been homogenized, and the smart firms sell standardized products using standardized promotion methods. Small U.S. service companies are going overseas to look for business and high profits, and they are finding it. In 1995 , the city of Tokyo gave New York architect Rafael Vinoly a $50 million contract to build its $1 billion International Forum complex on a 6.7-acre site. According to the U.S Department of Commerce, it was the largest such contract ever awarded to a foreign small firm.
The Essay on In The Modern Business World A Lot Of Contracts Are
In the modern business world a lot of contracts are concluded every day Imagine that you are a businessman, the head of American city. And you decided to conclude a contract with Danish company for the procurement of the goods and the associated services for the replacement of water-pipes in your city. Imagine that tomorrow there will be the negotiations under the new joint project. Both parties ...
Another small service company, Macro System, is helping Indias Steel Authority design and implement quality systems for its five steel plants; and ExecuTrain Corporation is signing its first master franchise for its computer-training business in Great Britain. Broadview Associates, a small firm specializing in mergers and acquisition in the information-technology industry, claims its European office handles 15 deals in each year. A small-business specialist with the International Trade Administration said that small companies are showing increasing interest in selling their services in foreign markets. She believes that GATT negotiations should establish a framework for trading in services that should make international trade more accessible to small service business. Already, many U>S> companies are being approached by foreign concerns that see them as links to the large American market. Some economists argue that globalization is an old idea, similar to the way world economies operated centures ago, from the Romans to the Venetians. Those civilizations didn’t have an e-economy and the Net, of course, and couldn’t transfer cash all over the planet in seconds. Globalization seems to erode the longtime primacy of the nation-state, already undercut by networked computing, which changes the potency of boundaries and enables people, businesses and banks to talk directly to one another rather than through surrogates.
It also undermines dogmas, both political and religious, some of which greatly fear environments that permit the free flow of ideas. It’s hard to preach a monotheistic view of the world if all sorts of ideas are available to your kids online and via TV, music and film. And the new global electronic economy — involving fund managers, banks, corporations and millions of individual investors — can transfer vast sums of capital from one part of the world to another in seconds, quickly stabilizing or de-stabilizing economies, as has happened recently in Asia. In todays global market, small companies as well as the big ones must move fast to take advantage of opportunities, and often they lack the experience to bring new product quality to market. Mare firms are turning to virtual corporations, which are a temporary group of independent companies formed to exploit a specific opportunity. They may be suppliers, manufactures, marketers, customers, and even competitors. Speaking about the small companies and how they cultivate the business abroad I must say that no all of them are searching for the clients.
The Business plan on Percieved Value of Mandatory Audits to Small Companies
|Perceived value of mandatory audits of small companies | | |Author(s): |Shifei Chung, (Assistant Professor, Department of Accounting & Finance, Rowan University, Glassboro, New | | |Jersey, USA), Ramesh Narasimhan, (Associate Professor, Department of Accounting, Law & Taxation, Montclair | | |State University, Montclair, New Jersey, USA) | |Citation: |Shifei Chung, Ramesh Narasimhan, ( ...
David Kratka, president of MMO Music Group, a small producer of sing-along tapes for karaoke machines in Elmsford, New York, didnt have to search for foreign business; foreign customers came to him. Although this seems like an enviable situation, in reality, Kratka figures the company probably lost foreign sales in the 1980s because he was too busy attending to the domestic market. He didnt have time to answer faxes and telephone calls from Asia and Europe. In 1995, when Fratka finally decided he could no longer handle the foreign inquires alone, he hired an international sales director. After that the foreign sales constituted about 15 percent of the firms total $8 million sales. Other companies find it easier ad more economical to get exporting help from an outsider. A consulting firm, Export Resource Associates, was teaching exporting techniques to CoBatCo, a waffle griddle maker in Illinois with 21 employees. Exports amounted to 13 percent of total sales in 1995 compared to the year of 1990.
I think to some extend there were some opportunities in the late 80s that could have been pursued if we had the background to pursue them, “said the president. Other small-firm managers without the time or international expertise to handle foreign sales turn to export management companies (EMCs) that typically handle everyday from sales and distribution to credit and shipping. They usually charge a fee of between 10 to 15 percent of the shipments value. The advantage of this approach is tat experts handle the export function. The disadvantage, however, is that the control of the companys export business lies in the hands of outsiders. Bibliography Strategies for the New Export Boom. Fortune, August 22, 1994, pp.
The Business plan on Business Strategy – KFC Company
KFC Corporation (KFC, founded and also known as Kentucky Fried Chicken) is a chain of fast food restaurants based in Louisville, Kentucky in the United States. KFC has been a brand and operating segment, termed a concept[2] of Yum! Brands since 1997 when that company was spun off fromPepsiCo as Tricon Global Restaurants Inc. KFC primarily sells chicken pieces, wraps, salads and sandwiches. While ...
124-30 Small Service Companies Find High Profit Overseas. The Wall Street Journal, March 29, 1991. Theodore, Levitt. The Globalization of Markets. Harvard Business Review, May-June 1983, pp. 92 and 96 Donald, A. Ball.
International Business. The Challenge of Global Competition. 6th edition. Boston: Irwin McGraw-Hill. 1995 The Corporation. Business Week, February 8, 1993, pp.98-103. Guide to The Global. Fortune, July 25, 1994, p.164 Small companies in global environment.
Business Week, April 18, 1996, p.289 Small Companies Look to Cultivate Foreign Business. The Wall Street Journal, July 7, 1994, p. B2 Gregory Sandler. Where Experts Are the Exports. Journal of European Business, September-October 1993, pp. 12-13 Lee Valeriano. Handling everyday business to expertise.
The Wall Street Journal, December 29, 1994, p.A1..
