1 / 5100%
1-2 Assignment: Benefits of Global Expansion
Juanita Onasanya
Southern New Hampshire University
INT:220
May 14, 2024
Benefits of Global Expansion:
What is globalization, and why are companies considering going global? We'll cover all
that and more in this piece. Understanding the differences between local and global business
settings and how domestic firms might profit from expansion is important. Furthermore, explain
ethics and their importance in influencing business decisions.
"The shift toward a more interdependent and integrated global economy" is what
globalization is. International businesses may benefit from globalization. It brings people from
all around the world together and gives them the opportunity to interact as buyers, sellers, or
middlemen. Businesses benefit from a broader market and more efficient means of selling their
products thanks to globalization, which also boosts their earnings. "Any. Conversely, a local firm
is one that operates inside its own country as opposed to traveling over international boundaries.
Let's first examine domestic firms and their distinctive features. A national company only
has to concentrate on and comprehend the laws and customs of the particular area in which it is
operating. "A company can more readily anticipate the desires of its customers. It probably has a
better understanding of its own market segment and is more conversant with what rivals have to
offer. As most colleagues speak the same language well and are more familiar with the culture,
communication is easier in this setting. The size of the home market is one feature that might
work against domestic enterprises by reducing their potential for more profit. "Growing into a
bigger setting might provide much more chances to make money,
Now we have international firms that function over a far larger scope. "The entire broad
range of transnational transactions of commodities, services, and assets among multiple countries
constitutes commerce within global industry." Global companies may benefit from lower labor
expenses as well as lower product prices. This leads to a rise of middlemen and workers,
increasing the personnel capacity of international firms. "Ultimately, the organizations associated
with worldwide companies consist of big international companies which have branches in many
different nations throughout entire globe with dozens of workers to modest individual companies
that function as traders in goods or transact company using platforms with a regional scope."
Native businesses include produce and fruit markets. Rather than importing or exporting
goods, these businesses have chosen to sell local goods. Since Dawson's Market in Maryland is
locally owned and run, it is a prime example of this sort of enterprise. "The goal of Dawson's
Market is to support the local community by sourcing goods from within a 100-mile radius of
our store and working with independently owned businesses to meet our daily operational needs.
We consider buying locally to be a way of life and an excellent method to help out our
neighborhood." Market of Dawson, n.d. Amazon is a well-known corporation around the globe.
The company will be interested in highlighting the advantages of growing. Businesses
can gain from higher revenue, a larger market, and a wider representation of globalization, which
additionally assists the nations in which they operate. A company that grows internationally can
provide benefits to the new nation, such as more jobs and a boost to the economy. When a
company considers expanding abroad, there are numerous advantages.
You can't call a business that only deals with your native country an international
business. A prime example of this is Google. Their services are nearly available everywhere, and
they are spread throughout fifty nations globally. Allscape Unlimited is a prime illustration of a
home enterprise. This is a nearby lawn care and landscaping business. The organization is solely
conducting business in the United States. The only company laws that apply to the landscaping
industry are those in the United States.
The company wants to make sure that throughout its growth, it is not causing harm to
people, places, or things. Before making a decision, businesses should weigh the several ethical
perspectives—utilitarian, grounded in rights, equal treatment, shared benefit, and nobility. A
company that pauses, considers its options, and acts morally will succeed in the long run.
Reference
FlatWorld Online Reader. (n.d.).
https://scholar.flatworldknowledge.com/books/31792/fwk/read
Students also viewed