Essay Sample on Globalizing Business

Introduction

Globalizing business refers to the carrying of business around the globe. It is important since it enables business companies to develop internationally. Besides, it enables emerging economies to access goods from developed economies. According to the topic, global business is not limited to countries with developed economies such that new and traditional emerging economic countries can also globalize their trade. While globalizing business, emerging countries can benchmark from developed economies. In this case, they will compare their resources with those of their competitors so that they can make positive changes. In doing this, the business will ensure that it acquires enough resources to engage in global trade.

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In globalizing business, the involved country should develop a global strategy which is usually done in other countries that are likely to become business partners. The global strategy is usually driven by three factors which include macro globalizing drivers, industry globalizing drivers, and internal globalizing factors. The drivers control the country's global business from different angles. For example, the industrial globalizing drivers involve the government which plays an essential role in ensuring that the country establishes good relations with the global world to encourage global trade. Good relations removes cross-barriers, thus, making trading efficient.

As shown earlier, the global strategy should involve both developed and emerging economies as long as the emerging economies have products and services that can keep them in the international trade. Besides, global business is supposed to have established firms that necessitate the trading activities. The firms include Multinational Enterprise (MNE) and Foreign Direct Investment (FDI). MNE firm is that which engages in foreign direct investment. On the other side, foreign direct investment refers to the investments based in foreign countries. It controls and manages value-added activities in other countries. As such, some countries are more involved in global trade than others, and this is measured by FDI inflows per the country's percentage of capital and employment in other nations. For instance, Singapore is more involved in global trade than Japan based on the FDI inflow measurement.

Conclusion

The topic is related to my job of offering services to customers in different ways. Firstly, to engage in global business, a business enterprise should make sure that it has as many customers as possible in the global economy. To increase the number of customers internationally, the business enterprise can introduce services that math the trending economy so that it can get the attention of customers both locally and internationally. Secondly, foreign direct investment entails the availing of a country's business to other countries. As a worker in offering services to customers, setting a physical base in other countries enables customers in that country to directly access the goods and services. Therefore, my job in serving customer can be extended to the global as far as the globalized business desires to reach more customers so that it can increase its trading outcomes.