Ans. 1
It refers to growing global connectivity, integration, and interdependence in the fields of economy, public, science, cultural, political, and climate. Globalization is a paragliding concept and is, therefore, better understood as a unitary system involving several sub-processes (such as enhanced economic interdependence, greater cultural influence, the rapid progress of information technology, and novel governance and geopolitical challenges) that are binding more and more people and the biosphere more firmly into one global scheme.
The benefits of globalization can be enjoyed by any organization and vice versa. The major factor for utilizing the benefits of globalization is a proactive approach. Whoever plans before the situation arises takes the major benefits? This can be clearly explained by saying that planning ahead is the best thing to do. If an organization has already planned how will they cope up with globalization then they can easily extract the benefits. In the same way, organizations that do not plan from before are unable to take benefits from globalization. Organizations tend to get more active and competitive in a result of globalization due to the fact that newer and better firms enter the market. In this situation, an organization cannot relax with the idea of brand loyalty, as people tend to change brands. Qualities with price have become the major factor for buying decisions. In the next five years, the international market will become more competitive, prices will go down and the quality of products will increase this can be said seeing the present trend of the market. These changes will affect international marketing. Promoting a product would be more through the technical aspects of the product. Marketers would have to find newer and more innovative ideas to attract customers. Any organization that is giving a better quality in a matched price would be successful.
Ans. 2
The on-going process of globalization leads to the emergence of a ‘global order’ engendering new and pressing moral and ethical issues. In the hands of the powerful, notably global business, globalization has the reality to embed the full range of injustices and inequities that the global economy can deliver. For example, those of you familiar with the debate about the supply of cheap medicines to Africa have experienced this first hand. In some parts of the world, globalization has destroyed the fish resources of the Pacific by using bigger foreign fishing vessels. It also has the capacity to destroy the tropical forests in PNG and Indonesia because China and Europe want plywood. In both cases, communities are destroyed and livelihoods of future generations are removed. There are different ethical and social issues that an organization can face while doing business internationally. The first and major issue to any organization that is operating a business in the international market is to adopt the social and cultural norms of a country. Other issues include polluting the environment of the country, using ingredients in the product that the people of the country prohibit to use. Another problem can be the different styles of the same product that is being used in the country. For example, in the United States, hot dogs are made from ham but in Pakistan hot dogs are being made using meat. To handle these situations an organization needs to plan its actions beforehand. This is the only option that’s most suitable for any organization. A study of the ethical issues before launching the product should be carried out and planning on how to solve these issues should be done as well.
Ans. 3
As the marketing director, the first thing that I will do is check the demand for my product in the region and the countries that will host the product. The next step would be of studying the different cultures and norms that prevail in those countries or regions. The third step would be a study about related products in the region or the countries and how they are handled. How successful they are and what type of marketing strategy they are following. A brief study of the product-related ethical issues would also be carried out to make sure they are solved. For example, the manufacturing of the product might lead to waste material that is harmful or dangerous to be disposed of the way it’s being done right now. Hence a new way would be introduced to dump the waste material in such a way that not only it becomes harmful but it also can be reused or recycled. Ethical issues related to marketing would also be solved. It would be made sure that no competing organization is targeted negatively due to the product’s marketing strategy. Advertising campaigns would be made keeping in mind the cultural aspects of the region or country in order to avoid any ethical issues related to the norms and religion to arise. Every country will have its separate marketing strategy and everything related to it according to its market trends. In the end, the organization will make sure that the product is launched with all the safety measures taken in order to make it a success.
Summary
This assignment helped me in learning new things about globalization and how it affects the international markets and organizations
While answering the first question I learned what basically is globalization. Who benefits from it and who doesn’t. How can organizations benefit from globalization? The changes that occur in an organization due to globalization. Changes that can or will occur in the international market in the next five years due to globalization and how will these changes affect the ways and strategies of international marketing.
While answering the second question I got to learn what are ethical issues. What types of ethical issues are related to globalization? What type of ethical issues organizations face while doing business internationally and how do they solve them. How can ethical issues affect the status of an organization?
While answering the third and the final question of this assignment I learned what practically is the situation when an organization goes global with one of their product. How the situation is handled what planning is done. The aspects that require more attention. What are the ethical issues related to the international market that are hosting the product and how to solve them? The steps that lead to safe entry into any international market.
Bibliography
- Kai Nielsen. (June 2003). Globalization and Justice. Humanity Books.