- Published: September 27, 2022
- Updated: September 27, 2022
- University / College: Queensland University of Technology (QUT)
- Language: English
- Downloads: 40
The basic key factors that are driving every kind of business towards the global operations can be identified by the expansion of information and technology. It is the participation of IT that the entire world has come up to a distance of a click.
The expansion has been also marked in the elaborative implementation of global marketing strategies and managerial expertise. By means of using organizational change management there are many innovative tools added to every business for the purpose of achieving the demands of the International trade and commerce. Persuasions led by globalization developed the ground for international trade and that made the business of export and import more lubricant. The exchange of currencies added benefits to the international finance. Under this dominance the third world countries received better returns and the first world countries gained cheap labor by outsourcing. The measures related to the increase in international finance led to the marketing competitiveness and the race for branding and sustaining in the market.
The demands related to products and services were more professionalized and the demands of the customers were created and vice versa. The issues related to environment too had a major role to play in this expansion. It is through the participation of cultural factors and the understanding of customer behavior and preferences made the participation of business in global periphery more effective. Further the implementation of Free Trade added enough support to this expansion. The only thing that troubles the emerging market is the indefinite competitiveness. The approaches are so stiff that the organizations need to keep a strict track of the market and that too in frequent intervals.
However, the best thing of globalization of various businesses is adding quality services and that too with enough scope for optional products. On the one hand the traders are making every product accessible and the buyer too has got the opportunity to make a fare choice.
