The process of globalization has fostered changes in the business environment. This is now
inevitable for a businessman to avoid global competition. The successful businessperson in the21st century will have global awareness and a frame of reference that goes beyond a region oreven a country and encompasses the world. Suppose if you are a businessman, what will be yourlifelong plan to be globally aware of, for an ensured growth of your business.
The process of globalization has fostered changes in the business environment. This is now Inevitable for a businessman to avoid global competition. The successful businessperson in the 21st century will have global awareness and a frame of reference that goes beyond a region or even a country and encompasses the world. Suppose if you are a businessman, what will be your
Lifelong plan to be globally aware of, for an ensured growth of your business.
Today world become a global village by fast innovation in the fields of technologies, communication, marketing, banking, information system and management. As being a businessman I think that information is the inevitable for the life long plan and ensured growth of business. Because on the bases of information every businessman can access the future needs and demand. On the base of needs and demand I plan what products are required for the peoples of the world. What is the quality required to peoples or customer. What is the life cycle of the products? What is the manufacturing expense bear? What is earning by selling it. After getting answers of the above questions I plan where to establish the organization in which countries that environment, laws, Government taxes, political situation and economic conditions are suitable for my business or products. I have required knowledge about quality standards at internationally. I grow my business by reducing cost of product, quality of product, segment on the base customer behavior and effective distribution channels. I also grow my business long time by create innovation vs. competitor product , provide the product at their door step rest of the world by opening franchise in different countries freely or low cost. Now we live in 21st century ,customer in this era compare the products with competitor products in which regard above mention parameters makes a business life long and successfully grow it rest of the world. Advertising is a way of communication that develop the product image in the customers there are different medium of advertising like TV, Internet, newspapers and radio are major source. Customer feedback is also beneficial for product’s quality improvement. I encompasses the world by aware the change and act according to it.
Q: The process of globalization has fostered changes in the business environment. This is now inevitable for a businessman to avoid global competition. The successful businessman in the 21st century will have global awareness and a frame of reference that goes beyond a region or even a country and encompass the world. Suppose you are a businessman what will be your lifelong plan to be globally aware for, for an ensured growth of your business.
Ans: Globally firms sell their products to the other countries around the world in order to meet the needs of the customers. The firm can achieve in the reduction of the cost inefficiencies and making duplication of efforts among national and religious subsidiaries. If i am a businessman, our long life plan for the growth of a business, to transfer opportunities for the transfer of products, brands and other ideas across national boundaries. It is widely notice that we are living in an era, in which the greater part of the social life is determined by global process, in which national cultures, economies and national boundaries are dissolved. We must acknowledge our products according to the new technology, in which the wide world has greater demand for it. The successful businessman can know the world demand’s product and the quality of the products that the worldwide customer’s want. The businessman can know there region cultures, their national living and across country living styles, climate and physical environment. The competitors of the business globalization potential, match the business needs or to compete there competitors. The firm must, therefore an aggressive selling and promotional effort to promote there products in the world. Through this concept the firm can assume the buying inertia of their customer’s resistance. Through better efforts for their customers, the firm can achieve its targets and make their products to easily turn into a brand. In global business, understanding the customer’s needs and wants is not always a simple task. Some customers have need of special care and some have which they are not fully conscious. The customers need good quality products against which they want to pay. The successful businessman being more effective than competitors in creating, delivering and communicating customer value to the selected target customers. As a businessman, the firm can dominate in the market by investing in research and development sector, by achieving economies of scale and scope and also owing intellectual property rights. As a successful businessman we can forces local firms to focus efforts in skill training, strategizing and also research and development that eventually shapes companies to reduce cost of the products and become competitive internationally
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