How to Globalize the Business

Introduction
 Businesses that go global have a higher
chance of succeeding
 Globalization is exporting to external
markets and finding ways to conducting
source mechanisms from lower-cost foreign
sellers
It is more of expanding than introducing new product
 Conducting a SWOT analysis helps predict
business performance globally
 SWOT analysis for McDonald’s
 Strengths- approach on dimensions: menu, promotion,
trademarks, restaurants, employees, and service.
 Weakness: McDonalds is a franchise
Member of chain restaurants depends on Head officer to make
decisions
Adding or subtracting anything to the menu may take a long
time.
 Opportunity:
It has opening to expand the menu
More room to open new chains
Adjusting with the consumers’ change of preferences
 Threats: Both external and internal affects the business
Inflation or a new competitor in your market
 Understanding Global Environment
 Global trading has been going on for centuries all
over the world
Important characteristic of today’s global environment
Boost productivity, profitability, economic growth
Forces which shape global trade
Trade mechanism
Regional trading alliances
 Global standpoint could affect business success or
failure
 expanding business globally offer advantages over
running a strictly domestic company
 Operating in multiple countries also poses logistical
and cultural challenges.
 Managing in a global
environment
 Global marketplace give opportunities and challenges for
managers
 Deal with political differences, cultural and economic
 Factors that hinder global success
 Improper planning, controlling, leading and organizing.
 Success of global business needs cultural intelligence, awareness
and sensitivity skills
 Cultural intelligence entails knowledge of culture as an impression
 How cultures changes to general class
 How they affect behaviour
 how that person acts or conducts toward others
 Sensitivity skills pays attention to motions and feedbacks
 Being conscious on reactions in different cross-cultural situations, and
behaviours
 Effective global business needs a global mind-set
 work on globalizing, new ideas, concepts or designs and experience
to require understanding.
 Conclusion
 Businesses that go global have a higher chance of
succeeding
product that is already known into the market
 Businesses are important providers of new opportunities,
ideas and concepts
 The emergence of global market is a constant pursue for
current consumers globally.
 Customers have to meet their rapidly changing needs and
preferences
 Effective globalization needs global mind-set
Leads to effective multi-ethnic business environments