Globalization and Market Entry Strategy

Abstract

With the advancement of information and technology trends in globalizations have increased. Many companies that were previously competing in domestic environment are forced to enter into global markets due to intensive competition all around the world. The following paper discusses the concepts of globalization deeply with all the essential requirements of entering into international markets. In addition to that, paper highlights the market entry strategies for Philips in Vietnam.

Contents

Introduction1

Discussion3

Important Factors4

Influence of the industrialized countries4

Influence of emerging markets4

Influence of developing countries5

Influence of banks and finance5

Mobilization6

Transportation6

Government Stability and Openness to Foreign Investment7

Government Investment in Infrastructure8

Levels of Non-Refundable Income9

Consumer Spending Patterns Desire For Brands10

Availability of Raw Materials and Suppliers11

Human Resource Issues12

Conclusion12

Globalization

Introduction

Globalization refers to the expansion and harmonization of global interdependence among nations, human activities and systems policies. It affects people in most areas with effects and a temporality of each. It also discusses transfers and international trade in goods, labor and knowledge. This term, specific to the environment human is often used today to describe the economic globalization , and changes caused by the diffusion world of information in digital form, for example with the Internet . Globalization is already developed rudimentary in the late middle Ages (Beck, 1999). Globalization has been a long time before it was discussed that concept. The earth has become not only an integration of its economic relations, but the World War II was the first war in which all humanity was committed. The cultures were spread over the world, but they were already beating the first thrill of space expansion in a tight feeling in the world in order.

Associated with globalization diffusion of cultural practices, forms of expression and ideas leads to culturists to what they called hyper-culturalism. In the wake of globalization, to solve the cultural expressions (images, sounds, images, symbols, rituals etc.) from their original site and circulate in the "global hyperspace". The cultures are without limits to a hyper culture. Non-borders, but networking and mingling organize the hyperspace of this culture. It characterizes the coexistence and simultaneity of difference hyper culture. Compared to cultures of inwardness, the hyper-culture, and thus developed an open-internalized culture (Van Wormer & Besthorn, 2011).

Proponents of globalization see it as a development of the culture to the global availability of elements of all cultures (e.g. restaurants German tradition in Africa, African Music in Germany, India invented the chicken tikka in England, the possession of the English language by former colonies, etc.). The displacement of the indigenous cultures of games often takes place only on a superficial level. Influences were locally modified and incorporated into their own cultural values. Furthermore, the situation improves by many people or groups of people through contact with Western culture (for example, by increasing equality of women). The concept of hyper-culturalism refers to the cultural dynamics of globalization. In addition to Taking out a universal culture, there would arise but also hybrid forms from different traditions and modernity (postmodernism) and then the post-postmodernism, etc (Held et.al, 1999).

Business expansion or globalization of businesses is ...