Businesses must send more employees abroad as the globalization of commerce accelerates. It is vital to have some feet on the ground to engage with the locals, even with more advanced communication technology. In reality, nothing can replace having direct conversations and establishing relationships. A person who stays overseas, away from their place of origin, for a predetermined period of time is referred to as a "expat" in commercial jargon. Employing foreigners helps businesses in the global market diversify their human resource base. The diversity of the workforce has benefits and drawbacks.
Do companies need to be globalized?
- Thread starter Shavkat
- Start date
The current business clime demands that all business should turn to global brands. With the advent of e-commerce and Social media, a business limits itself by not targeting the global market in yye short or long run.
In my humble opinion, not all businesses need to be globalized. There are local shops selling clothing, personal care products or eateries making good profits. Running a business globally require sufficient capital and human resources.
You equally have a point , there are local businesses that deals with local products peculiar to a particular location or a particular country and may not necessarily need to expand globally but may expand within the local scope.
I don't believe we have a local market anymore. That product you think is just consumed just in your locality can be highly sought for if you create a demand for it.
Yes, globalization is important for companies because it allows them to expand markets, increase profits, and gain access to new resources and technologies. It also promotes competitiveness and cooperation with international partners. However, it also brings challenges that need to be carefully analyzed and the company's strategy adapted to the global market.
Indeed i believe this is the goal of every business owner out there. This is definitely the goal for me, my business is still very much young but i believe with time it would definitely reach the stage i want it to.
Well for you to get to achieve such status in your business, you have to put in the work and then ensure that you have a growth plan to build a good reputation which your customers would have confidence in your business.
