Small Business Opportunities in the Global Market Technology Essay (Other (Not Listed) Sample)

Small Business Opportunities in the Global Market
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Small Business Opportunities in the Global Market
The development or advancement in technology has consequently led to globalization as it has led to efficient means of transportation and communication on a global scale. Globalization has opened channels for entrepreneurs to establish new businesses within the international arena. As for small businesses, the global market presents various opportunities for sourcing business resources. Initially, before globalization took place, businesses were limited to sourcing raw materials among other resources within their nations. However, globalization has led to the opening of channels for small businesses to source plenty of resources that can be used for the production and manufacturing purposes (Cavusgil, Knight, Riesenberger, Rammal, & Rose, 2014). Hence, small business entrepreneurs get an opportunity for sourcing resources essential to keep businesses running. The author’s arguments are relevant as they relate to international business by discussing the existence of small businesses in the global market.
Global sourcing presents various advantages for small businesses to grow by ensuring activities are run cost-efficiently. The global market opens channels for sourcing resources which means that the entrepreneurs can choose from the suppliers with cheaper rates (Cavusgil et al., 2014). When organizations source their raw materials or resources in one geographic region, they tend to compete for limited resources. As a result, the large corporations gain bargaining power over small businesses due to high amounts of capital; however, small businesses tend to lack competitive advantage within such business environment. Conversely, the global market opens international channels whereby small businesses do not have to compete for limited resources. Therefore, small businesses have an opportunity to grow and compete effectively while sourcing resources cost-efficiently.