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Benefits of Globalization - Essay Example

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Benefits of Globalization

If an organization has already planned how will they cope up with globalization then they can easily extract the benefits. In the same way organizations that do not plan from before are unable to take benefits from globalization. Organizations tend to get more active and competitive in result of globalization due to the fact that newer and better firms enter the market. At this situation an organization cannot relax with the idea of brand loyalty, as people tend to change brands. Qualities with price have become the major factor for buying decisions. In the next five years the international market will become more competitive, prices will go down and quality of products will increase this can be said seeing the present trend of the market. These changes will affect international marketing. Promoting a product would be more through the technical aspects of the product. Marketers would have to find newer and more innovative ideas to attract the customers. Any organization that is giving a better quality in a matched price would be successful.
The on-going process of globalization leads to the emergence of a 'global order' engendering new and pressing moral and ethical issues. In the hands of the powerful, notably global business, globalization has the reality to embed the full range of injustices and inequities that the global economy can deliver. For example those of you familiar with the debate about supply of cheap medicines to Africa have experienced this first hand. In some parts of the world, globalization has destroyed the fish resources of the Pacific by using bigger foreign fishing vessels. It also has the capacity to destroy the tropical forests in PNG and Indonesia because China and Europe want plywood. In both cases, communities are destroyed and livelihoods of future generations are removed. There are different ethical and social issues that an organization can face while doing business internationally. The first and major issue to any organization that is operating a business in the international market is to adopt the social and cultural norms of a country. Other issues include polluting the environment of the country, using ingredients in the product that the people of the country prohibit to use. Another problem can be the different style of the same product that is being used in the country. For example in United States hot dogs are made from ham but in Pakistan hot dogs are being made using meat. To handle these situations an organization needs to plan its actions before hand. This is the only option that's most suitable to for any organization. A study of the ethical issues before launching the product should be carried out and planning on how to solve these issues should be done as well.
Ans. 3
As the marketing director the first thing that I will do is to check the demand of my product in the region and the countries that will host the product. The next step would be of studying the different cultures and norms that prevail in those countries or region. The third step would be a study about related products in the region or the countries and how they are handled. How successful they are and what type of marketing ...Show more


It refers to rising worldwide connectivity, incorporation and interdependence in the financial, public, scientific, cultural, political, and environmental spheres. Globalization is an umbrella term and is perhaps best understood as a unitary procedure inclusive of many sub-processes (such as improved economic interdependence, bigger cultural control, fast advances of information technology, and novel governance and geopolitical challenges) that are binding more and more people and the biosphere more firmly into one global scheme.
Author : owalter
Benefits of Globalization essay example
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