DEFINITION

 A global strategy is a move than an organization takes when they want to expand beyond the domestic market by going global. Ideally, this is a plan that companies choose when they want to grow beyond their normal/internal borders.

SUMMARY:

The article that I have chosen was the future of international business research on corporate globalization that never was by Alain Verbeke, Régis Coeurderoy, and Tanja Matt discusses globalization process or businesses in today’s growing competitive global market. The article discusses how comprehensive strategy has transformed businesses, as well as how it is impacting the global economy. In fact, according to the article, globalization has changed and impacted economic, educational, social as well as political landscapes in more than a few profound ways. Global strategy, according to this journal, has highly contributed towards trade liberalization and communication revolution. The global strategy has more than a few advantages to businesses, such as increased competitive advantage and global presence (Alain, Régis Coeurderoy & Tanja, 2018). The article finalizes by arguing that the new global strategy has created a way for increased economic growth and, most importantly, brought the world together. Ideally, globalization has seen many companies expand and increase sales, which make most companies continue to thrive in the global competitive market. The main reason why it is imperative to why we should put any weight behind these authors in our opinions is that the trio is university professors who teach marketing and the global economy.

DISCUSSION:

They say one of the key ways to a successful business is to have the ability to have a global perspective. Globalization has made geographical locations irrelevant and gone are the days when companies operated domestically, which limited their growth opportunities. The global strategy enables companies to expand their business operations beyond the domestic market, which has contributed to world economic growth. Imperative global economy study indicates that entrepreneurs who have global vision have the potential to take advantage of financial world opportunities by expanding their products as well as services to other countries hence, making them profitable. Global entry means increasing one’s services by offering consistent services to areas that they deem right for the growth of their businesses. While the global strategy has more than a few advantages, I believe it is imperative for business owners and companies to have a good understanding o the global market. For example, it requires one to be able to anticipate risks of entering the global market and, most importantly be in a position to mitigate such risks (Alain, Régis Coeurderoy & Tanja, 2018).

One of the strategies of global entry is recognition of technological advancement, transfer of knowledge as well as learning about the worldwide market. It is recommended to have a good understanding of numerous things when thinking about going global such as trade laws of a particular country, labor costs, and culture, among other things. Failure to better understand these factors can lead to conflict with any one of them, which can negatively harm the business. For example, the global strategy requires one to be able to adopt progressive multicultural approaches when it comes to one’s products as well as their consumer target (Alain, Régis Coeurderoy & Tanja, 2018). Based on the article that I have chosen, the cultural diversity of a country or the workforce is a valuable economic asset that should be deployed when going global.

Reference

Alain Verbeke, Régis Coeurderoy & Tanja Matt. (04 November 2018). The future of international business research on corporate globalization that never was. Retrieved March, 31^st 2019 from: https://link.springer.com/article/10.1057/s41267-018-0192-2