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If you are looking for global business homework help or help with your global trade and markets, international business assignment or project, you are in the right place. Welcome!
Global Business is all about the business activities that take place across the world. It refers to the international trade, which take place between companies in different countries. They buy and sell products over great distances. Global business is about the corporate and economic activities that take place between different countries.
What is the difference between international business and global business?
In international business, a company sells its products worldwide and marketing strategies are planned for each of the countries by local employees who know best about their respective markets but in global business, company has its facilities in many countries to cater to the respective markets and marketing strategies are planned for all countries as a whole.
Exchange of goods over great distances is not new. Anthropologists have already established that trade existed over great distances in Europe even during the stone ages. At that time it was mostly sea-borne business trading which was common place in many regions of world. If we look at back, in the 16th century, almost all continents were connected through some form of ocean-based communication.
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Today, more and more people are getting together to make global businesses successful and accomplish their business goals. A lot of effort goes into getting foreign investment which is crucial for growth of a business enterprise. As a result, we can say that the world’s global community is fast becoming one single market place.
The main motive to become global is to access new sources of revenue. As a result, we get to see more active global business forums, global business summits, global social business summits and business innovations in global health care, which are getting popular day by day.
The Harvard Business School offered an executive education leadership development program which compared the innovation of global health care ventures while considering their various expansion decisions. This program includes corporate strategy, corporate social responsibility through an in-depth and fresh examination of complex challenges. Here one could learn the healthcare model implement technique which calls for an environment in which health care organizations bear greater responsibility for the cost and quality of health care. In this program, every session had new cases and lectures by which all participants were provided up-to-date information and new avenues of thinking.
We need to transform this greed based civilization into one based on real human values. We can do it, if only we want to.
For many years now, there have been many global business summits around the world. Global business summits are important for business communities because they provide opportunities for new participants who come from diverse backgrounds. Global business summits positively impacts and accelerates global businesses. Primarily, they have three areas of focus – inclusiveness, impact measurement and sustainability. Organizers of business summits take into consideration these three factors while organizing any global business summit. They are also dedicated to the sustainable development goals (SDGs) of the United Nations (UN). Global social business summits form the biggest networking platforms for business leaders around the world because Inspirational speakers and great leaders from private sector, civil societies, governments and academia come together in these business summits. The Yunus Centre and The Grameen Creative Lab organizes this in many countries like Germany, Austria, Malaysia, and Mexico. In 2017 it took placed in Paris (at Cité Internationale Universitaire de Paris) from 6th to 7th November. The two days were spent in meetings, workshop and spreading awareness about social business. It also fostered discussion between shareholders and practitioners.
Here is a small list of global business summits which you can use:
Global business forums showcase innovative technologies and solutions to some of the most pressing business problems around the world. The objective of global business forum is to bring forward new business opportunities. IT community, government, business investors and trade organization come under one roof for this global business forum. A GBF is a multi-disciplinary platform used that works around the world and nurtures special interest. Global business forums facilitate collaboration between commerce, IT, society and international policy.
We have seen that global businesses have moved towards running a business in different parts of the globe from a centralized location. This leads to shared administration and running costs. In the last two decades, we have seen how outsourcing has helped global businesses to cut operational expenses and become more profitable. Global business services or just 'GBS' in short lets businesses to focus on core growth areas like customer-service and product-development, while letting other administrative or operational tasks to be handled by the 'back-end' team. Though managing shared services started off with managing just one or two aspects of it, today, thanks to IT, back-end teams can handle more and more responsibilities like finance, human resources, maintenance, procurement etc. After the initial euphoria of switching to a GBS (global business services model, some organizations complain that this has made it more difficult for them to run various services as it has become too complicated. Some of them have even started back to traditional ways of running their operations. GBS helps organizations to better align their business strategies with their growth plans, become operationally more efficient on a global scale, consistently cut costs across all business functions, set up end-to-end business processes and seamlessly integrate the same across business verticals, get better analytical visibility using operational data and overall, become more agile, flexible and scalable.
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