Hi, need to submit a 3000 words essay on the topic Developing Global Business Strategies and dealing with the standardisation / individualisation debate.Download file to see previous pages... 4.0 Econ

Hi, need to submit a 3000 words essay on the topic Developing Global Business Strategies and dealing with the standardisation / individualisation debate.

4.0 Economic and Political Implications of International Business 4.1 Economic Implications the effect of international business on economies especially due to economic globalization is explained. 4.2 Political Implications International business is explained in terms of its impact on domestic policies and rules and regulations development or eliminations to protect citizens and local firms. 5.0 The Impact of the Global Movement of Factors of Production on International Business Global movement of production factors is associated to impacts like brain drain, maquildoras, foreign direct exchange, backward integration among others. 6.0 Role of Knowledge, Communications and Creativity on Success in International Business The changing consumer needs and preferences call for sufficient knowledge of consumers, market conditions, government rules and others to translate to satisfactory innovations. The right knowledge from different markets of multinational companies must be communicated such that standardization retains consistency of products. Creativity defines innovations style and results to brand loyalty. 7.0 Discussion and Analysis The Evaluation of Ford Company’s standardization approach to global business is provided in details. 8.0 Conclusion The development of global standards is dependent on the intentions of a firm in the international market and for Ford standardization has sustained the company’s competitive advantage and profitability. 9.0 References 1.0. Introduction International business has been in existence as long as nations have existed and communities have exchanged commodities with each other resulting to business. Today, international...

Additionally, international business involves competition of products in world markets while the competitive advantage is solely dependent on the gained economies of scope and economies of scale across the markets. In order to operate successfully in the global markets, industries operate as global or multi-domestic. Global industries encourage competition of same firms with each other while multi-domestic industries compete only at a national market and independent of other national markets. The development of Global business strategy is dependent on what a business is to engage in while operating in a universal business environment and its service to worldwide consumers. Global business strategy is based on long term or short term objectives. As a result, global industries adopt a global strategy while multi domestic strategy involves tailoring products to individual countries with innovation dependent on local research and development expertise.