Evaluating The Business Strategies Companies Can Undertake To Achieve Globalization (Coursework Sample)

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GLOBAL BUSINESS STRATEGY
Introduction
In every company, various business strategies constitute a vast means and ways by which they are supposed to achieve the global outlook. These collective strategies that the companies use to gain the global layout are called the global business strategy. The companies frame the policies in a way that the short and long term goals directly link to the same strategies in towards the global face. (Cuervo-Cazurra, 2011). Additionally, the short-term strategies of the companies are often wired towards the smooth running of the daily business activities of the company, while the short term goals propel the company towards the increment of the profits in the long run. The global business strategies, on the other hand, are those that ensure that the firm’s products gain the standardization and the adaptation that they need to fit in the national and the international markets. Ultimately the company achieves globalization. (Cuervo-Cazurra, 2011). In this article, I will emphasize on the globalization phenomenon, on the global strategies of the furniture industry.
Globalization and Companies
Globalization is a phenomenon that touches not on the international intermigration towards the social aspects of life, but also the economic bit of it. It entails a lot of factors that touches on the technology, economy, industry, communication and other aspects. For this reason, it can be seen as either a deliberate move or just an accidental occurrence to the world. Whether it is accidental or intentional, it has various positive impacts to the firms and the global economy. To the companies, it can prove to be a good move owing to the aft that it has the following benefits to the respective firms. Firstly, the globalization has led to the creation of links that has brought together the friends with benefits to the businesses. In this case, the friends with benefits can just be the trading partners that may help in the achievement of the diversification of the markets to the company’s products. In the long run, such partnerships are as good as having the branches of the same company in the various parts of the world. For businesses, the markets are the best in the long run since the profitability is not a problem to the diversified markets (Cuervo-Cazurra, 2011).
Moreover, with globalization, there is more market efficiency in almost all the markets in the world. In this case, the supply and demand are always in the balance. This balance is very healthy for the growth of the businesses. Furthermore, the economic development of the markets due to the efficient markets is important in making the company’s blossom in the industry, not only in the national front but also in the international arena. Needless to say, the integration of such efficient markets is one of the contributors to the excellent business environment. (Cervo-Cazurra, 2011).
As a deliberate move, the globalization has always provided the new and relevant solutions to the challenges in the companies. It is one of the steps that have brought about the transfer of knowledge and the new ideas that improve the way people do things the smart way. The new insights that the companies can source from one part of the world to put into practice for the smooth running of the business activities are crucial to the companies as well. Nonetheless, there is partial equality in the wealth distribution in the market due to the globalization is something that is a plus to the companies. It means that the markets for the firms’ products have the wider view since the buyers will be situated all over the place, with equal purchasing powers. With this heightened purchasing power of the market constituents, there are promising growths of the companies at large (Cuervo-Cazurra, 2011).
Geographic Target Location for Furniture Industry Expansion
Several factors determine the furniture that the consumers use in a given region and at a given era. The luxury they provide, the portability, the elite quality and the design of the furniture say it all when choosing the kind of furniture one needs for the end use, at home, offices are other places that require the furniture. The material is a major determinant of the way someone will perceive the furniture and eventually buy it for the use. In the current world, the above factors are not to ignore for the current companies that deal in various furniture products. In the future, the designers will focus in the quest to meet the demands of the rising global furniture industry. With globalization, the markets for the furniture are soon becoming unified, with, more and more sales destinations coming up each and every day. The market segmentation for the furniture industry is more diverse, in that there is sometimes the biases towards the various properties of the furniture as discussed above ("World Luxury Furniture Market - Opportunities and Forecasts, 2014 - 2020," 2016).
Geographically, there are very many areas that are in the process of developing more liking to the different forms of furniture, and will, therefore, be the primary target for the sellers. With the ever increasing hospitality sector in the Middle East, there are strong pieces of evidence to believe that the best geographic target location for the furniture industry will be the focus in delivering to the needs of this region. Statistically, the furniture industry in the United Arab Emirates is the highest growing in the world. For this reason, there are no doubts that the Middle East countries like the United Arab Emirates and Dubai are the best geographical targets for the global furniture industry.
There have been many international companies that have set up their retail outlets in these countries which have replaced the traditional stores that existed in the past. It has transformed the market for the various forms of furniture in the Middle East countries. The fact that there are more offices, hospitals, hotels and other places that need furniture continue to mushroom in the middle east, and there will always be ready markets for the incoming companies in the furniture industry. Many people in the current world like to go to these countries to do their shopping. The trend is that they buy everything that is ready made. So, the furniture industry expansion to the Middle East is not going to be a bad idea shortly ("World Luxury Furniture Market - Opportunities and Forecasts, 2014 - 2020", 2016).
Favorably enough, there are a lot of leather trade in the area, due to there are several camel hides in the region. It is more advantageous to the furniture industry since most of the modern chairs that the offices and other places need comprise of leather. With regards to the global furniture industry expansion, the venture into this region may prove to be a more rewarding act than one can imagine. At the same time, these countries in the Middle East have attracted good interior designers and other carpentry related human resources, which can offer the best solution to the design problems in the furniture industry. In this case, this can be more helpful to the prospective companies that are top set up their outlets or the manufacturing plants in the region, since there will be the spontaneous labor for their operations.
Besides, there is a skyrocketing market for the furniture in the nearby places like Indian and China markets. These two cities can also act swiftly to complement the markets in the Middle East area. The economic growth in China has allowed it to propel the markets of various products to have a global view...