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Globalization: Analysis of Competitive Advantage - Essay Example

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Globalization has imposed on the world a blurring of national boundaries, intermingling of cultures, fast and disruptive change that includes change in technology and intense competition. In the present day and age, it is even more difficult to find sources of sustainable…
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Globalization: Analysis of Competitive Advantage
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Globalization: Analysis of Competitive Advantage

opportunities because it is only possible to sustain a longer-term future by constantly effort striving to enhance the competitive advantage of a firm. Having access to low cost factors of production cannot guarantee competitive advantage in a globalized world. A global value chain, innovation, differentiation and customer satisfaction etc. influence competitive advantage in a globalized world. This research paper presents a discussion about analysis of competitive advantage in an era of globalization.
Globalization is not a new phenomenon because international trade has existed since ancient times when recordkeeping began (Abele et al, 2008). The incentive for international trade was to access larger markets, which were foreign markets, and the quest for profit led to an intermingling of peoples, cultures, goods and ideas. However, despite the fact that globalization is an ancient phenomenon, it is possible to distinguish phases in the nature of globalization. Trade in the ancient world required merchants to haul goods to markets for sale at a profit over land or sea, but later sales offices were established at sales locations and depending on the demand, merchants could order required quantities of goods as desired. When higher value added products were in demand, differentials in cost of production associated with locations for production and markets forced business people to select production locations independent of home location. Now, international supply chains with worldwide cross-functional collaboration cater to the needs of sophisticated consumers demanding sophisticated products of high quality at affordable prices in an era of scarce raw materials, rapidly increasing prices for energy and diminished disposable incomes due to an increase in the price of basic food items.
McGregor (2010) states because of the evolutionary path on which the world has embarked, it is now necessary for firms to produce with the global in mind. Information and ... Read More
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