Business Research

Business Research

Part 1: Globalization

Global Trends

Global economies are interconnected with each other. Companies, industries and governments all have to coorporate with each other to make the environment stable. This was not even imagined by any one few years back. According to scholars there are six global trends which are faced by businesses. These global trends are i) emerging of markets ii) competitive advantage by cleantech, iii) recovery of global banking, iv) governmental ties with private sectors v) frequent innovation in technology and vi) shifts in demographics. All six global trends are connected with three drivers; these drivers help in establishing the trend and continue those (Ernst & Young, 2012). These drivers described as follows:

Shifts in Demographics

Rapid increase in the population, increase in urbanization and increasing of middle class is bringing changes in the business world and the overall societies of the world. Due to this huge shift in demographic has occurred across the world.

Reshaping of Global Powers

During the recovering process from the crises which occurred in recent years, a strong relationship has been developed among the private and public sectors. With the help of this relation, a major shift in the global power is seen, and it is an unimaginable change which has taken place.

Disruptive innovation

Now day's innovation in technology is done on a frequent basis, and it has a massive impact on societies and businesses. Emerging markets are becoming the hotbed of innovation, and the reason behind is the rowing of population and in the middle and lower class consumers around the world.

With the help of these changes in the trend, it will be easy to spot successful businesses. Successful businesses will be those who are constantly monitoring the changes which are taking place in the environment. They examine their external environment and make business plans and strategies according to it. Those organizations look for trends from everywhere around the world whether it's women, retired employee or anyone (Gakure, et al, 2012).

Now day's it does not matter for organizations that in which country they are operating or where they have their headquarters. They make global workforce and have such frameworks, which can be applied as local environment as well as in a global environment. Successful organizations make flexible supply chain system so that any fluctuation in labor cost, price and raw materials would not have a huge impact on the productivity of the organization. Successful organizations make cleantech as a part of their growth plan and use it for the planning of future strategies. Governments are also trying to meet their agendas by reducing cost and having few debt obligations (Gakure, et al, 2012).

Future Strategies

In order to become successful or to maintain good position in market, organizations have to review their strategies. Their strategies no longer be effective or according to the latest market trends. Businesses have to think about the available opportunities in the market and risks which can affect their business. Business must keep revising their strategies and discover new strategies. Successful businesses not only navigate but also ...