Global governance and economy

“Multinational organizations are among the most profitable in the world”.  On a global scale, international business can be extremely beneficial financially for all involved.  It can help reduce costs, increase market share and be more competitive as this will create new customers.  The amount of opportunities are positively exposed for both domestic and international for new growth opportunities.  However, there are several factor involved that need to be considered.  Those factors include prior knowledge of: politics, culture, laws, language, currency and taxes to name a few.  Policy environment, innovation, subcontracting, entrepreneurship and competitiveness also need to be considered and investigated.

Strategic planning is essential as well as the expected risks and returns.  The CEO and executives are key to making the right decisions would In addition, it is imperative that efficient management is present in the areas of product development, communication, marketing, personnel as well as in finance.  Response time, adaptability and flexibility is also essential to the success of the organization. The common goal of any business is to create market value and to sell it as well as support it.

Globalization has been and will continue to be a “fact of life” for many companies.  Therefore, the interaction between the customers, employees, business partners, future prospects, as well distributors is essential that communication remains a priority.

References

Balraj, N., & Vetrivel, M. (2016). The impact of international business on the global economy: A quarterly peer reviewed multi-disciplinary international journal A quarterly peer reviewed multi-disciplinary international journal. Splint International Journal of Professionals, 3(9), 50-56. Retrieved from https://libauth.purdueglobal.edu/login?url=https://search-proquest-com.libauth.purdueglobal.edu/docview/1906046902?accountid=34544

DePalma, D. A. (2002). Global governance: Take me to your leader. Advances in Competitiveness Research, 10(1), 150-171. Retrieved from https://libauth.purdueglobal.edu/login?url=https://search-proquest-com.libauth.purdueglobal.edu/docview/211479796?accountid=34544