Going Global is the when many different activities of business are used in the international market. This is when companies do business transactions with other businesses, clients, and investors in other nations outside of its own borders. Some of these business activities include investing, trading, manufacturing, importing, and exporting. When an American company decides to manufacture in one country and sell in different markets in other countries, then that company has gone global.

The key factor to making Globalization a success has been technology. New innovations have made it quick and simple to communicate with foreign nations about business ventures and transactions. The internet has broken down many barriers. It allows us to communicate in real time almost anywhere in the world. Specialized computer systems and programs have made it simple to do business transactions. For example, trading websites make it easy to get up to the minute stock quotes and currency value. For example, this allows a person in China to buy from an American right there on the spot. There is no longer any need to travel and meet with foreigners for simple business transactions. Going global has become very common. It use to be that only large corporations went global. Now in current times even mom and pop businesses are venturing out. They too have seen the cost advantages of producing globally and the selling advantages in international markets.

Although going global has broken down many barriers in business world it has also caused some issues as well. Many people and cultures have been threatened by globalization. They feel that it threatens their own economy. These people believe that globalization also brings out many problems regarding human rights issues. Some aspects of Globalization bring about greed. Some companies take advantage of low cost labor in poor nations and choose to produce all their products in those locations. This is cheaper for the company, but causes a problem for those countries in which the labor is taking place. The workers tend to work long hard hours for very little compensation and it increases the poverty issue in that country. At the same time it also takes away jobs in the companies’ own country. Countries like the United States demand fair living wages and working conditions and because poor countries don’t, the United States loses millions of jobs for its own people.

References:

http://money.cnn.com/2007/07/12/magazines/fsbgoing_global.fsb/

http://www.usnews.com/money/blogs/risky-business/2008/05/28/the-how-of-going-global

http://promomagazine.com/legal/marketing_going_global_3/