Over the past two decades we have seen a rapid increase in globalization. But going global is not without problems. We are moving toward a world in which barriers to cross-border trade and investment are tumbling; perceived distance is shrinking due to advances in transportation and telecommunications technology; material culture is starting to look similar the world over; and national economies are merging into an interdependent global economic system. Globalization due to technology and communication has resulted in the formation of a “Global Village”. The companies should learn how to compete in a changing environment and the four ways in which the companies can do this:
Recognize the changing environment.
Adapt to the environment without compromising principles.
Not assuming problems would automatically disappear.
Keep corporate communication connected to strategy.
According to Mary Anne Wilson (http://ezinearticles.com/?Marketing-Strategy-Globalization&id=315754), no country should restrict itself in its domestic market and should continuously look for opportunities to expand into the foreign markets. Lately all organizations have been coming up with innovative strategies to enjoy the competitive edge amongst its competitors in the long run. She suggests strategic market planning for organizations for adapting to the changing environment. Due to increased globalization the business environment is getting influenced by economic and political factors. She also advocates implementing standardization for all the global organizations which may help them in developing good ideas on a broader geographical scale.
I can relate this to my internship with Johnson & Johnson Medical India. JJMI has been a big player on the global front for many years now. But even they had to concentrate on employer branding to counter the heavy competition they were facing from their competitors due to globalization. I was responsible for developing the base for their employer branding and during that, I understood the strategic importance JJMI was putting on it and thus got a feel of the changing global environment and strategies organization plan to counter it.
Recognize the changing environment.
Adapt to the environment without compromising principles.
Not assuming problems would automatically disappear.
Keep corporate communication connected to strategy.
According to Mary Anne Wilson (http://ezinearticles.com/?Marketing-Strategy-Globalization&id=315754), no country should restrict itself in its domestic market and should continuously look for opportunities to expand into the foreign markets. Lately all organizations have been coming up with innovative strategies to enjoy the competitive edge amongst its competitors in the long run. She suggests strategic market planning for organizations for adapting to the changing environment. Due to increased globalization the business environment is getting influenced by economic and political factors. She also advocates implementing standardization for all the global organizations which may help them in developing good ideas on a broader geographical scale.
I can relate this to my internship with Johnson & Johnson Medical India. JJMI has been a big player on the global front for many years now. But even they had to concentrate on employer branding to counter the heavy competition they were facing from their competitors due to globalization. I was responsible for developing the base for their employer branding and during that, I understood the strategic importance JJMI was putting on it and thus got a feel of the changing global environment and strategies organization plan to counter it.
1 comment:
Rightly said that due to the Globalization there is aroapid change in the Business Environment.Regards Employement Branding India
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