Team C ’s Debate on the Growth of Economic Globalization GMGT520 External Environment of Global Business Week 5 Team Assignment TEAM C: September 17‚ 2005 Abstract Human societies across the globe have established progressively closer contacts over many centuries‚ but recently the pace has dramatically increased. Jet airplanes‚ cheap telephone service‚ email‚ computers‚ huge sea vessels‚ instant capital flows‚ all these have made the world more interdependent than ever. Multinational corporations
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According to the Levin Institute (2001)‚ the term globalization refers to the increasing connections people‚ companies and states are forming around the world. The process of forming social and economic ties across vast distances is nothing new historically; however‚ technological improvements and liberal trade agreements have increased these connections greatly in contemporary times. One of the primary drivers of globalization has been in respect to market forces‚ whereby many consumer goods and services
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The globalization of markets Theodore Levitt The worldwide success of a growing list of products that have become household names is evidence that consumers the world over‚ despite deep-rooted cultural differences‚ are becoming more and more alike - or‚ as the author puts it‚ "homogenized." In consequence‚ he contends‚ the traditional MNC’s strategy of tailoring its products to the needs of multiple markets may put it at a severe disadvantage vis-a-vis competitors who apply marketing imagination
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The globalization of markets Theodore Levitt Harvard Business Review‚ 1983 * Background The powerful force booms the modernity and stimulates the people’s attraction for the high-tech products and high-touch products‚ and that force is technology. It results in the fresh reality-global markets. The isolated market and multinational corporations tend to be the global markets for the standardized consumption and price. Although it experienced the challengeable process‚ the influences of development
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GLOBALIZATION OF MARKETS Theodore Levitt is often considered to be the first to recognize the trend towards globalization and states that: “companies must learn to operate as if the world were one large market – ignoring superficial regional and national differences…” In addition‚ he argues that the companies that do not adapt to the new global realities will become the victims of those that do. Theodore Levitt’s 1983 article about the globalization of markets is one of the most discussed
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city-states in the ancient world have various similarities and differences according to their culture‚ government‚ education‚ political structure and more. However‚ if I was a wealthy woman and I had to choose one between the two I would choose to live in Sparta‚ because they would value me more than people in Athens would. The first reason why I would prefer Sparta is because of their education system. In Sparta I would be trained from a young age in arts and athletics‚ I would have a strong body and I
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Market Growth “A customer is the most important visitor on our premises‚ he is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so” (Mahatma Gandhi). (Business Quotes> Growing Businesses Quotes‚ 2010). McDonald’s sales and revenue has increased in the past five years due to strategic
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YOU? HOW DID ARAVIND BOOST ITS EFFICIENCY FROM TWO TO SEVEN TIMES (MCDONALDIZATION) ARAVIND EYE CARE HOSPITAL-McDONALDIZATION INTRODUCTION: In the present scenario achieving effective and efficient health care services is an acute issue that needs an immediate attention. In developing countries this problem is mostly common as the government alone is not fully capable in undertaking different challenges to meet the heath needs of fast growing populations. There was a need
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When the colonists arrived in Massachusetts a man named Thomas Prence bought land in Brewster from the Native Americans. He saw how the Native Americans were using the river to catch herring. Prince thought it would be a great place for a grist mill. When the grist mill was built everyone loved it for the corn meal. Back then everyone ate cornmeal or cornbread everyday‚ maybe even twice a day. So to have that so readily available was amazing for the colonists. Fabric was also sent there to be “pre-shrunk”
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Aztecs I would be a Mayan Aztec is not for me I didn’t choose the Aztecs for a couple of reasons. One of them is the sheer number of people they have. The Aztecs stood at about 6‚000‚000 people‚ which is way to many. They are also very war oriented and formed most of their alliances this way. I‚ personally‚ am much more interested in the arts than in war. If I could choose to live in the Aztec‚ Inca‚ or Mayan empire‚ I would easily choose the Mayan civilization. From a personal point of view‚ I would
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