Global Dimensions of Business Final Essay Exam Questions

GLOBAL DIMENSIONS OF BUSINESS FINAL ESSAY EXAM QUESTIONS

1. Discuss the forces that are leading international firms to the globalization of their sourcing, production, and marketing.

There are many forces that lead international firms to globalizing their sourcing, production, and marketing. One of the major forces is the lower operational and labor costs that are associated with gloabalzing the company to a country that labor and manufacturing is cheaper. It impacts the company's revenue by saving the company alot of money and increasing the revenue. Another force is time. Many companies will delegate time consuming and manual processes to external agencies to save time and have more staff to work at more important tasks. They are able to free up valuable internal workers of exta tasks that can be outsourced to a differnt country at a low cost. The company can release certain tasks that are difficult to manage and control while still recieving the benefits. For example, cell phone companies will outsource their customer service representatives to India to save time and money. They will us their valuable employees to focus on sales and marketing.

Other than saving time and money many companies globalize their companies to open the opportunity to share knowledge with the rest of the world and also learn from other countries. It is smart to know and have the same capabilities as the rest of the world to prevent your company from falling behind and having a disadvantage. By going global they company has an opportunity to expand and access new market areas.

In summary, firms are motivated by the forces of saving on cost and time as well as taking an opportunuty to have access to a new market to learn and grow to be up to speed with the world. Globalizing a company will have a positive and negative impact to the workers and consumers involved.

2. Critique any video previewed in class, tying in text material.

I will critque the first video we watched in class about Mc Donalds. Mc Donalds began in 1954. There ar now over 50,000 restaurants with over half of them being outside of the U.S. Mc Donald's is a power house in international sales and is the most well-known global brand. They have done an excellant job in developing menus to fit all cultures and understand the beliefs in differnt cultures affect the menu of food they can serve.

One of Mc Donald's greatest challeges was India where the people don't eat beef. India consideres a cow to be a sacre anaimal and should be worshipped. With this restaurant being a hamburger business, they needed to accomadte their customers and adapt to the culture by doing somehting diffenrt. They offered chicken, fish, veggie, and lamb patties in place of the beef and it worked well. Mc Donalds also began building strong relationships