Global Business (Essay Sample)

Global Business
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Introduction
Globalization have contributed to major cultural, ethnic and gender diversity and its for these cases that has led management to pay extra attentions for the effectiveness of businesses. Cultural diversity amongst world population is discussed here to show how it has impacted businesses in different regions of the world. Global business operations are influenced by factors such as marketing, pricing, religion and culture, promotion, laws and regulation, environmental factors. These factors are being employed to attain competitive advantages needed in today’s businesses environments amongst different products in different regions. Cultural diversity through business operations hence, seeks to provide ways that can address innovations and creativity, development of marketing strategies, problems solving ideas, costs and human resource management (Van Looy, 2014). The main cultural factors that shapes how humanity will relate to a given product include; geographical backgrounds, age, and language, physical appearance, marital status, political backgrounds, ethnic, educational levels, gender, economic status and religious.
A society composed of mixed multicultural groups of individuals is likely to shape social-economic and cultural statuses of a given society (Read, 2004). For example, United States of America is a country composed of people from different backgrounds, states, cultures and history. Therefore, many businesses amongst people living in USA are influenced cultural differences amongst large population from different regions in the world and hence the overall economic status in USA.
Overview of the Business
Laxson Farm Food Inc in a food processing and packaging company in United Stated that have been in operation since 1999. Laxson Farm Food Inc have continued to enjoy massive business opportunities across major States in USA due to improved marketing strategies, Management, communication and customers relations. The diversity of different customers originating from Asia and spread across the USA has forced the management to expand this food processing company in United Arab Emirates. U.A.E is amongst many Middle East Countries that is located at a strategic business hub in the world (Read, 2004). U.A.E have in recent years enjoyed expansible business, social, economic and cultural growth because many people traveling across the world have to travel through U.A.E. Businesses are therefore expanding and performing at best possible profits in U.A.E due to cultural diversity amongst world populations who converge here. For this reason Laxson Farm Food Inc is expected to enjoy a ready business opportunity in the middle-east.
MARKETING MIX
Laxson Farm Food Inc is concerned in the food processing operation that include; Meat, Sausages, Barbacoa and these products are either packed or delivered raw on demand. Marketing strategy takes in consideration the entire marketing environment and the impacts it imposes on the businesses, products and services offered. The strategy also helps in the understanding of the marketing environment, accurately knowing the competitors and the consumers. A marketing strategy tackles the long term view of the products in the market and the resources in the firm, or the required to allocate in order to promote the efforts to achieve the objectives (Mayrhofer, 2004).
Laxson Farm Food Inc is marketing its products, that include favorable mix created and the mix contains four entities that define the right mix, these are product, required time, right price and the promotion. The businesses products must contain the right features and include the right price to favor the consumers, right position and the right time through making sure that the products arrive in good time when required and lastly the target group must be aware of the availability of the product by means of promotions.
1 Pricing
Success of Laxson Farm Food Inc will consider increasing its product prices while in UAE. This is due to influences such as regulations, local taxes, transport and self-esteem. The cost and the benefits analysis are a systematic approach that aims at estimating strengths and weaknesses in the alternatives that support the transactions, functional requirements and activities in Laxson Farm Food Inc in U.A.E. The technique determines the options are providing the best approach to the option of practices in the terms of marketing purposes. The comparison mostly lies on the cost since the cost maneuvers and controls the realizations of benefits in certain marketing practice by any organization. Costs and benefits are diverse in the analysis. However, the financial costs are thoroughly represented in the analysis of the costs and benefits because of the relatively available market data.
The benefits of the marketing food products incorporate the costs from the savings collected from the marketing of the products. From a different perspective, the costs involve all the consumptions involved right from the production to the marketing of the products whereas the benefits are what the sold products give in return as the profits. In marketing, the benefits realized must exceed the costs used in order to enhance the development of the organization by the achievement of the objectives (Keegan & Green, 2013). It enhances the calculation of the net cost in accordance to the benefits associated with the total sales of the product. However, this comparison sets the organization on different options to the actions to take in order to make the laid down objectives successful.
A comparison on the costs and the benefits when marketing a product make the evaluation of the impact of the total sales in a quantifiable and monetized manner. The evaluation takes a sum of the total costs of the product and compares it against the total benefits realized at the end of the sales. The comparison on the costs and the benefits aims at making the business is aware of the factors to consider that influence the strategic marketing. The decisions made basing on the evaluation of the costs and the benefits that a product yields a very profitable outcome that promotes the achievement of the objectives. Costs and the benefits that occur in the future are less weighted in the cost-benefit analysis as compared to the current market statuses in the Middle-east.
2 Social-Cultural Issues
In the U.S.A, Laxson Farm Food Inc have been successful due to the embracing of the American culture by people migrating from different regions in the world. Therefore, it had been possible to communicate market or price depending on normal business environments affecting a given State. Business expansion in UAE is expected to undergo different barriers that include; communication, Laws and regulations, environmental influences, social-cultural factors that will shape the future of the business (Al-Shamali & Denton, 2000).
1 Communication
Communication involves exchange on information’s, ideas or data through selected mode of communication that include transportation of products over rail, roads or air, face-to-face communication and transmission of business data through wired networks. Effec...