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    Name: Ansano, Rey M. BSENTREP 3-B

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    Erick Mequiso
    This document summarizes key points from a journal article on globalization and standardization. It discusses how [1] many companies have standardized their products globally to tap into new markets and cope with saturated old markets. [2] This trend toward standardization spans both high-tech and consumer products, from cars to movies. [3] Examples like Coca-Cola and cigarettes show how globally standardized brands can succeed across diverse tastes. It then examines [3] issues raised in the article, such as failures that result from not adapting products to local needs, and vulnerabilities of companies reliant on small domestic markets in a globalized world.

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    Name: Ansano, Rey M. BSENTREP 3-B

    Uploaded by

    Erick Mequiso
    42 views5 pages
    This document summarizes key points from a journal article on globalization and standardization. It discusses how [1] many companies have standardized their products globally to tap into new markets and cope with saturated old markets. [2] This trend toward standardization spans both high-tech and consumer products, from cars to movies. [3] Examples like Coca-Cola and cigarettes show how globally standardized brands can succeed across diverse tastes. It then examines [3] issues raised in the article, such as failures that result from not adapting products to local needs, and vulnerabilities of companies reliant on small domestic markets in a globalized world.

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    INTERNATIONAL final

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    This document summarizes key points from a journal article on globalization and standardization. It discusses how [1] many companies have standardized their products globally to tap into new markets and cope with saturated old markets. [2] This trend toward standardization spans both high-tech and consumer products, from cars to movies. [3] Examples like Coca-Cola and cigarettes show how globally standardized brands can succeed across diverse tastes. It then examines [3] issues raised in the article, such as failures that result from not adapting products to local needs, and vulnerabilities of companies reliant on small domestic markets in a globalized world.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    42 views5 pages

    Name: Ansano, Rey M. BSENTREP 3-B

    Uploaded by

    Erick Mequiso
    This document summarizes key points from a journal article on globalization and standardization. It discusses how [1] many companies have standardized their products globally to tap into new markets and cope with saturated old markets. [2] This trend toward standardization spans both high-tech and consumer products, from cars to movies. [3] Examples like Coca-Cola and cigarettes show how globally standardized brands can succeed across diverse tastes. It then examines [3] issues raised in the article, such as failures that result from not adapting products to local needs, and vulnerabilities of companies reliant on small domestic markets in a globalized world.

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    Name : Ansano, Rey M.

    BSENTREP 3-B

    Assessment 2

    Directions: Write T if the state is True and F is the statement is False. (20 Points)

    I.

    _T____1. Globalization is a term used to describe the changes in societies and the world economy that
    are the result of dramatically increased trade and cultural exchange.

    _T____2. Globalization refers almost exclusively to the effects of trade, particularly trade liberalization
    or "free trade".

    _T____3. It is a common belief that globalization plays a role just at international levels of trade and
    commerce, but the fact is that it has played an important role in making our lives much more
    comfortable too.

    _T____4. One of the signs of globalization is increase in international trade at a faster rate than the
    growth in the world economy.

    _T____5. Philippines has taken part in the process of globalization ever since the country signed
    agreements with the World Trade Organization in 1995.

    _T____6. Globalization is very effective in the Philippines because it has allowed major changes in the
    nation like more labor, and more Filipino and foreign companies have emerged in the nation in order to

    help the country’s developing economy.

    _T____7. Globalization can make the Philippines into a better nation if the Philippine leaders make their
    economy more advanced through global trading and allow more foreign investors to help boost the

    economy.

    _T____8. Globalization has brought in fierce competition in the markets.

    _T____9. Gross Domestic Product, commonly known as GDP, is the money value of the final goods and
    services produced within the domestic territory of the country during an accounting year.

    _T____10. Globalization has promoted tourism to great heights.

    II. Research. 30 points

    Journal/References: Any journals/publications on Globalization

    Required:

    1. Summarize your selected journal/references/books etc. (at least 3 paragraphs)


    2. Cite at least 3 debatable issues in the journal and explain your side to each issue/s

    SUMMARY

    Many companies have become disillusioned with sales in the international


    marketplace as old markets become saturated and new ones must be found. How can
    they customize products for the demands of new markets? Which items will consumers
    want? With wily international competitors breathing down their necks, many
    organizations think that the game just isn’t worth the effort. In business, this trend has
    pushed markets toward global commonality. Corporations sell standardized products in
    the same way everywhere—autos, steel, chemicals, petroleum, cement, agricultural
    commodities and equipment, industrial and commercial construction, banking and
    insurance services, computers, semiconductors, transport, electronic instruments,
    pharmaceuticals, and telecommunications, to mention some of the obvious.

    Nor is the sweeping gale of globalization confined to these raw material or high-
    tech products, where the universal language of customers and users facilitates
    standardization. The transforming winds whipped up by the proletarianization of
    communication and travel enter every crevice of life. Commercially, nothing confirms
    this as much as the success of McDonald’s from the Champs Elysées to the Ginza, of
    Coca-Cola in Bahrain and Pepsi-Cola in Moscow, and of rock music, Greek salad,
    Hollywood movies, Revlon cosmetics, Sony televisions, and Levi jeans everywhere.
    “High-touch” products are as ubiquitous as high-tech.
    Starting from opposing sides, the high-tech and the high touch ends of the
    commercial spectrum gradually consume the undistributed middle in their cosmopolitan
    orbit. No one is exempt and nothing can stop the process. Everywhere everything gets
    more and more like everything else as the world’s preference structure is relentlessly
    homogenized. Consider the cases of Coca-Cola and Pepsi-Cola, which are globally
    standardized products sold everywhere and welcomed by everyone. Both successfully
    cross multitudes of national, regional, and ethnic taste buds trained to a variety of
    deeply ingrained local preferences of taste, flavor, consistency, effervescence, and
    aftertaste. Everywhere both sell well. Cigarettes, too, especially American-made, make
    year-to-year global inroads on territories previously held in the firm grip of other, mostly
    local, blends.
    Issues

    1. Many companies have tried to standardize world practice by exporting domestic


    products and processes without accommodation or change and have failed
    miserably

    Their deficiencies have been seized on as evidence of bovine stupidity in the


    face of abject impossibility. Advocates of global standardization see them as
    examples of failures in execution.
    In fact, poor execution is often an important cause. More important, however, is
    failure of nerve failure of imagination.

    2. Trouble increasingly stalks companies that lack clarified global focus and remain
    inattentive to the economics of simplicity and standardization.

    The most endangered companies in the rapidly evolving world tend to be those
    that dominate rather small domestic markets with high value-added products for
    which there are smaller markets elsewhere. With transportation costs
    proportionately low, distant competitors will enter the now-sheltered markets of
    those companies with goods produced more cheaply under scale-efficient
    conditions. Global competition spells the end of domestic territoriality, no matter
    how diminutive the territory may be.

    3. Negative Consequences and How to Mitigate Them

    Globalization has its side effects on advanced nations, too. These are several
    variables that include work instability, market volatility, extremism, currency
    fluctuations, capital flows, and so on.
    References :

    1. In a landmark article, Robert D. Buzzel pointed out the rapidity with which barriers to
    standardization were falling. In all cases they succumbed to more advanced and
    cheaper ways of doing things. See “Can You Standardize Multinational Marketing?”
    Harvard Business Review (November–December 1968).

    2. There is powerful new evidence for this, even though the opposite has been urged by
    analysts of PIMS data for years. See “Product Quality: Cost Production and Business
    Performance—A Test of Some Key Hypotheses” by Lynn W. Phillips, Dae Chang, and
    Robert D. Buzzell, Harvard Business School Working Paper No. 83-13.

    3. For a discussion of multinational reorganization, see Christopher A. Bartlett, “MNCs:


    Get Off the Reorganization Merry-Go-Round,” Harvard Business Review (March–April
    1983).

    A version of this article appeared in the May 1983 issue of Harvard Business Review.
    Theodore Levitt, a longtime professor of marketing at Harvard Business School in
    Boston, is now professor emeritus. His most recent books are Thinking About
    Management (1990) and The Marketing Imagination (1983), both from Free Press.

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