Business

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Sekinot Mohammed

Introduction to Business

Professor Yorkshire

September 10, 2021

Globalization is a process through which companies and businesses cultivate global influence or start to transact on global scales. Globalization enhances interaction and integration between people, companies, and global governments. Advancements in communication technology and transportation have accelerated globalization since the 18th Century. Companies use various strategies to avail products available in the global market. One of them is exporting. This is a process where products are made in a certain country and exported to another country for consumption. The second one is licensing. This involves obtaining permission in a foreign country to produce a good which are produced in the home country. The permission is granted upon compliance and payment of relevant duties and customs. The other one is contract manufacturing. This involves agreeing with a country to manufacture a certain commodity for a certain period. The other one is joint ventures. This involves partnering with citizens from a foreign country to manufacture foreign products. The last one is direct investment whereby a person from a foreign engages in the production of goods and services in another country (Mukul et al., 2021).

The company sells several products in the global markets, most of which are technology industry products. Some of these products include computers and mobile phones. One of the strategies of selling these products in the global market is online and digital advertisements. This is where the products are posted on online platforms and shared globally with possible customers. The buying and selling of such products can be done online and the delivery is done by shipment and mails. This involves sending the products to customers worldwide through international modes. One of the modes is mailing and parcels. This involves the use of ocean freight and import customs clearance. Once necessary duties and customs have been paid, it is the role of the duty and custom administrators to ensure that the products have been delivered to the global customers (Cliffe, 2020).

References

Cliffe, C. (2020) Who are Apple’s largest shareholders?, available at: https://www.ig.com/uk/trading-strategies/who-are-apples-largest-shareholders-200630#information-banner-dismiss (accessed 18 September 2020)https://howandwhat.net/stakeholders-apple-analysis-apples-stakeholders/#:~:text=The%20main%20external%20stakeholders%20of,almost%20hitting%201%20billion%20mark.

Mukul, K., Rao, K. N., & Kundu, S. (2021). Individual freedom vis-à-vis integrity of the state: A study with reference to Apple iPhone. Emerging Economies Cases Journal, 3(1), 16-20. https://doi.org/10.1177/25166042211027425

Obel, B., & Gurkov, I. (2021). Strategic orientation of the firm towards its stakeholders and inclination towards sustainability – the conceptual framework. International Journal of Organizational Analysis, ahead-of-print(ahead-of-print). https://doi.org/10.1108/ijoa-04-2021-2721