The Impact of Globalization and the Internet Presents Real

The bailiwick of globalisation has become a heatedly contested debate over the byg one and totally(a) two decades. Indeed, the improverd integration of internationa inclination of an orbitic economies have led to costs to round and benefits to others. These costs and benefits argon a impinge onspring of iii effects of globalization, that is, expand markets, cheaper resources or a combination of the two. Firstly, from the business perspective, one effect of globalization is that of expanded markets. This center that a business that had previously only sold its goods domestically can galvanise selling products to other countries and this can increase their profit potential.Secondly, another consequence of symmetrical trade agreements is the access to cheaper resources. Until the start of the 1990s, the Peoples commonwealth of chinaware was largely closed off to the rest of the world. Many companies in the unite States produced their goods either domestically or in area s with slightly less expensive labor. When China opened its market to the rest of the world, however, American companies were able to bear advantage of the off the beaten track(predicate) cheaper labor.This is known as out(a)sourcing. Cheaper labor contributes to cheaper costs, which in turn contributes to larger profits. Sometimes, but not always, this may also mean cheaper products and services. Finally, world-wide development, as a consequence of globalization, arises out of a combination of twain expanded markets as well as cheaper resources. A prime example of this is India. Before the tardily 90s, the information technical schoolnology sector in India was largely in its infancy stage.However, pair with an educated yet inexpensive workforce, foreign companies were able to start subsidiaries of high tech activities in cities like Bangalore. This technological know-how col to local firms, who in turn grew as a result of expanded markets both in India as well as the rest of the world. More and more organizations are getting hooked into the earnings. They use the Internet to promote and sell their products and services, provide client support, deliver training, and share corporate information with clients, employees, and customers.Businesses have found that the Internet is a powerful tool to help throw their employees and customers connected. In Vietnam, many organizations know to take advantages of globalization and internet to manage their operations. However, to exist in a competitive environment, they must(prenominal) understand in depth the strategical provision with the support of two to a higher place factors. Strategic planning is an organizations process of defining its strategy , or direction, and making decision on allocating its resources to keep an eye on this strategy.In order to determine the direction of the organization, it is incumbent to understand its current position and the doable avenues through which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions 1. What do we do? 2. For whom do we do it? 3. How do we excel? With the fear of Internet, firms can use high engineering to access the external situation analysis, supplier markets and labor markets. In addition, they can substantially find the database of competitors on the internet to figure of speech the attractive policy and prices for their own companies.References list Wheelen, T. L. , & Hunger, J. D. (2012). Concepts in strategic direction and business policy (13th ed. ). Upper shoot River, NJ Prentice Hall. Myatt, M. (2011). The impact of globalization on business. Retrieved from http//www. n2growth. com/blog/the-impact-of-globalization-on-business/ Green , J. (2011). How Does globalization Affect an Organizations Business Approach? Retrieved from http//smallbusiness. chron. com/globalization-affect-organizations-business-approach-20077. hypertext markup lang uage