7BSP0355-0901 International Business Strategy Assignment Sample

An additional driving factor behind globalisation is the increasing usage of the Internet and information technology as a consequence of technological advancement, which is hastening the process as a result of the process. Because of the process, globalization is likewise accelerating at an alarming pace. Businesses have been more reliant on the Internet in recent years to identify new suppliers, making the challenge of reaching a worldwide consumer base simpler than ever before. Throughout this chapter, an in-depth review of the role performed by the Internet in international management is given and debated, with the role becoming more important as time goes.

Reports from the Globe Economic Forum indicate that a global clientele is increasingly seeking goods and services that are the same no matter where they are situated in the world, regardless of where they are produced. Examples of multinational corporations that provide the same or almost identical goods in several nations throughout the globe are McDonald’s and Kentucky Fried Chicken, as well as Boeing and Airbus. A “global product” refers to an industry that is capable of offering the same products or services to customers regardless of where they are in the world. A sector’s global competition is more likely to arise in that industry than it is in other sectors since a single location accounts for a considerable part of the products and services produced in that sector.

As reported by the Globe Bank, these types of business-to-business transactions account for around 75% of all e-commerce transactions made throughout the world. A major increase in the popularity of online shopping has occurred in recent years due to the fact that any website may be accessed by anybody anywhere in the world, regardless of where they are physically situated. Individuals who have access to a computer have the capacity to participate in the global economy in some manner. However, there are several downsides to shopping online as compared to visiting a physical store. It’s undeniable that a significant percentage of you are seeking for solutions to reduce your spending.

In response to a rise in international shopping and the similarity of their requirements, companies are seeking to build a single product that will fulfil all of their consumers’ needs as a result of an increase in worldwide shopping and the similarity of their requirements. The capacity to acquire anything they wish, whenever they desire, from wherever they choose, at any time of day or night has now become a reality for everyone. In response to the ramifications of globalisation, developing countries are turning away from low-cost industrial zones and toward locations with a high concentration of consumer development. This is a tendency that is likely to persist. Whether these tendencies will reverse themselves in the near future seems to be quite unlikely.

CEO surveys conducted by McKinsey & Company recently revealed that CEOs throughout the globe are growing more concerned about the environmental effect of their organisations. This is true of all people, regardless of where they live on the earth in terms of geography. Climate change, in the opinion of almost all corporate leaders, should take priority over all other concerns, including financial ones, in the future. Increasing numbers of CEOs, as seen in Exhibit 1.11, believe that climate change should be taken into account when formulating a company’s overall strategic direction.