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In this video it talks about the strategies to strategically navigate the complexities of international markets. The three strategies in this video are, standardization, localization and transnational. From the module standardization shows that one product can meet the needs of people everywhere. To achieve economic of scale and reduce costs, firms can offer standardized products across different market.

Localization a product can be customized to local demands. A business can tailor their products and marketing to fit the specific needs of a local market.

The transnational strategy combines both standard and localization. A company wants to be flexible enough to respond to local conditions. In the global business world there are two types of competitive pressures: pressures for cost of reductions and the pressure to be locally responsive. To combat this, a company can do the following: adopt a transnational strategy, implement a modular product design, leverage digital technologies, hold strategic alliances and partnerships and mix global standardization with local customization.

May 21, 2024

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The Strategy of International Business (With Real World Examples) | International Business

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The business world holds a place for global businesses to cultivate cultural intelligence and adapt to their strategies accordingly to thrive in diverse environments. When you are looking for you business to expand in other countries it's important to note the communication, feedback, decision making and time management. As learning in my module recognizing culture differences can prevent misunderstandings and improve a companies collaborations in international teamwork.

May 21, 2024

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Business Speaker Erin Meyer: How Cultural Differences Affect Business

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As depicted in this image being greedy can have detrimental effects on global organizations and society. Companies should balance profit motives with ethical considerations in mind and preserve long-term sustainability to keep the global organizations healthy. Greed in business can lead to unethical decision making. Unethical decision making can be malfeasance. Executives can prioritize short-term profits over long-term sustainability. Greed can also lead to the exploration of labor practices. Companies can cut costs by underpaying workers, enforcing workers and having them work in poor conditions. Having a short-term mindset can push back growth in the progress of industries when it comes to technological advancements. This image can be portrayed as the workers protesting for a better working environment and better wages because they're being underpaid in possibly poor working conditions.

May 21, 2024

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As someone who enjoys listening to podcasts in order to expand my mind I came across, Made in America with are Santiago. This podcast episode talks about how we should be thinking about the global market and competition. His guest on this podcast features the founder of Aero Gear, Doug Rose. Aero gear is a company that specializes in the design, engineering and manufacturing of gears and gearbox assemblies for the global aerospace industry. They provide high quality solutions through experienced personal, best manufacturing practices and robust process control systems. Now how this correlates to what I learned in the globalization module is that its important to know how to lead, organize, plan in order to participate in the global market. The takeaway from Santiago's discussion companies need to continuously innovate and adapt in order to remain competitive in the global market. By investing in new technologies that enhancing the quality and efficiency of a product. He talks about investing in the workforce through training and development is important. Partnering with educational institutions can provide you with a skilled labor pool to meet the demands of modernized manufacturing. Leadership and a strong organizational culture is important for prioritizing a positive work environment to drive any company to success. We can embrace sustainability and create environmentally friendly products that don't go against environmental standards. Standards that could cause for example, environmental pollution. Lastly, building partnerships within the industry and other stakeholder leads to growth and innovation.

May 21, 2024

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Made in America with Ari Santiago: A Lean Journey Focused on Embracing Change and Empowering People with Doug Rose, Aero Gear

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This week’s Made in America podcast guest is Doug Rose, President and Founder of Aero Gear, who is known for his manufacturing success story and Italian table wine! Doug talks to Ari about the importance of keeping up with technology to compete in the global market, embracing change, and developing a philosophy of continuous improvement. He discusses the power of opportunity and how it led him to where he is now. Doug also expresses his excitement and passion towards Aero Gear’s culture and explains how stimulating it is to always see your team engaged. By getting involved with the ACM and the manufacturing industry as a whole, Doug has learned what true teamwork looks like and how crucial it is to come together to get the job done! Aerospace Components Manufacturers (ACM): Doug Rose, President and Founder, Aero Gear Aero Gear’s Website: Aero Gear’s Facebook: Aero Gear’s LinkedIn: Doug’s LinkedIn: Ari Santiago, CEO, CompassMSP Company Website: Company Facebook: Company LinkedIn: Company YouTube: Ari’s LinkedIn: Podcast produced by Miceli Productions: