How globalization is affecting businesses Literature & Language Essay (Essay Sample)

How Globalization Impacts Business Today
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Executive summary
A significant environmental change, which has occurred within the previous two decades, is the globalization of business. The world is now a global village and businesses have grown to become global in character. Companies are venturing outside their national boundaries in the pursuit of business opportunities. For instance Coca cola, A US based company has several production plants located in various countries around the globe.
Operating at a global level has brought with it its fair share of opportunities and challenges. This has, in turn, forced firms to restructure the manner in, which they conduct their business to remain competitive in the global landscape (PH, 2015). Some of the benefits include access to new markets, access to raw materials, access to cheap labor and increase in bottom-line. Some of the negative aspects include cultural issues, varying regulations (tax issues), and lack of proper infrastructure among others.
Success in the global market requires managers to be well equipped with certain skills and information to ensure that they direct the organizations they heading in the right directions and ensure that they stay ahead of the pack. Some of the information they must know include, regulations in overseas nations, understand how geopolitical and economic concerns can affect their business, cultural issues, competition level and market needs and gaps.