Environmental Factors Paper

965 words - 4 pages

University of PhoenixJune 26, 2009MKT/421Globalization is the process that involves increasing of goods and services worldwide. The technological advances that have been made during the last two decades have made globalization of businesses simpler Investor Words (2009).According to Theodore Levitt (1983), the emergences of global markets have greatly increased due to the advancements of technology, communication, transportation. Corporations that are prepared for the new reality will benefit from large economies in production, distribution, marketing and management, which translate into reduced world prices that can defeat competitors that remain believing in the assumptions about how the world market works. An organization does not globalize alone and not all companies have the capability of going global. Companies must possess that determine the potential for industry globalization, and those are Industry Globalization Drives. Global markets have four broad groups of industry globalization drivers which are market, cost, government and competition. The four sets of drivers cover all important industry conditions that would affect a company's potential for globalization. Many drivers are out of the company's control in the worldwide business.Every company in every industry has a level of globalization potential that can be determined by external drivers.Strategy for Global CompetitivenessIndustry research conducted in past has shown results that prove that competitiveness depends upon internal and external factors. It also depends on the macro-environmental factors such as the policies of the home country Government (whether favoring competition, support offered to the industries in terms of taxation, rebates and incentives, fiscal and credit policies, etc.), the degree of consumerism in the home country, the nature of competition. According to Hoff, Fisher, & Miller (1997), competitiveness exists in all countries, markets, organizations and all industries. The relationship between competitiveness in organizations, markets and industries are not completely understood. While economists have not determined a theory or definition, competitiveness tends to be associated with external, market-based concepts such as comparative advantage, market distortions and price. Hoff, Fisher, & Miller (1997) have summarized the work done by scholars of industrial globalization and organization that determines market competitiveness. These scholars have cited internal determinants of efficiency and quality as aspects of competitiveness.For an organization to understand competitiveness a competitive analysis must be done by evaluating the competitiveness of product features, an evaluation of the process features and internal operations that are done to manufacture and produce the products that are being marketed, and subsequent process yields. According to Skiner (1984), competitiveness is related to the internal operations of a company and the technology...

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