Firm Strategy

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Table of Contents
History of globalization.................................................................................................3
Impacts of rise of new competitors...............................................................................4
Companies strategies in a changing Global competitive landscape............................5
Technological revolution...............................................................................................6
References...................................................................................................................7
 Rise of new Competitors and a
changing Basis of Competition.
Companies strategies in a
changing Global competitive
landscape.
The forces of globalization are on peak currently since there is more and more
global communication and is influencing our daily lives. The advances in information
and communication technologies and the fast economic law making and investment
in most countries have accelerated the process of globalization all over the word and
continues to promote it. Markets keep getting surplus amount of good not only
industrial but also the daily used products. Means globalization continues to grow
with the introduction of new and advance ways of communication. Also globalization
is not a new concept.
Globalization has been available since the early age when people stayed and
remained in their communities, villages and/or their region. There were barely any
restrictions on the people to transport goods or any requirement to go from one
community to another. Globalization can be traced back to before even when there
was a phenomenon of country. Hence globalization is not a new concept.

History of globalization
Although many scholars consider the origins of globalization from the modern
times, there are other scholars that trace it back to even before the European Age of
Discovery and voyages to the new world and there are even a few that trace it even
more further back in history like to the millennium of BC. It can be traced way back to
this back in history because there were a few people who used to trade outside of
their communities and these specific group of people who found that globalization is
so profitable can be considered the one who understood the concept of globalization
first. Hence it has been in shadows until 1990s.
Globalization emerged as a hot topic in the 1990s, and, at the beginning of
the new millennium, continues to be passed on to academics, the media, and
policymakers alike. However, one of the most important gaps in the study of the
global distribution system is concerned with its history: the story (and analysis) of its
origins, its growth and change over time, and the continuing differences between the
past and the present. In this article the author outlines the typing of claims made
about the patent of globalization history in current literature, and identifies certain
investigative and productive methods of investigation. Following this, two recently
published books are reviewed which try, in different but complementary ways, to
deepen our understanding of globalization in history (Duncan S.A. Bell,2003).
Impacts of rise of new competitors
In general globalization is beneficial for us because it decreases the costs of
production and consumption. This means that consumers will be offered less prices.
This will in turn contributes to the living standards. Consumers will also have a wider
variety of goods. The will have more range of products to choose from and this also
allow the users to select the best for himself or herself. In some cases, globalization
move contribute to health by enabling more varied and healthier diet.
But there are downsides to it as well. Take for the health benefits the
globalization does promote healthy food but it will also promote unhealthy food
consumption and diabetes. For example, take for the fast food chains in the world
they promote unhealthy junk food. First it was only in their company but now the food
is being used and consumed globally. Hence not everything in globalization is
beneficial. Wherever there is light there is shadow.
The situation is more hard to understand in the developing countries/ world,
where economies is changing rapidly. There are many drawback of globalization like
their will be unequal economic growth. Some country or people will have more
economic opportunities. An example of this is that an average worker of a
Bangladesh supply chain earns less than an average worker in US. Globalization
also promote lack of local business. Means there will be less and less local business
as better product and opportunity will be available for people and businessmen will
not be able to open that business as it is already well established by another country.
This also allow other countries to take wealth of some other countries. Increase in
potential global recessions, exploit cheaper labor market and will also cause job
displacement. (National Geographic Society, December 23, 2019)
It is true there both positive and negative effects of everything on the world,
it’s negative impacts are more severe than its benefits. There is an urgent need to
effectively address the challenges that are caused by globalization. Without any
doubt globalization is irreversible process in accordance to natural laws. The pain
due to some aspects of globalization is extreme. As a member of international
community Nigeria is not protected from globalization. But it is experiencing both the
positive and negative impacts of globalization. The paper of Dr Olubukola S. Adesina
(Department of Political Science, University of Ibadan Nigeria) explains the negative
impacts of globalization on Nigeria. Focusing the affected areas of science,
technology and environment like the global frauds, scourge of HIV/AIDS, electronic
waste and other disadvantages. It tells us that there may be many opportunities
present due to globalization but Nigeria has been exposed to many new challenges
due to globalization. The paper also recommends ways and methods by which
globalization’s negative impacts can be addressed.
Another effect of globalization is that it can promote child labour. There is a
research of Hakan Acaroglu and Ozcan Dagdemir that relates the child labour and
globalization. Their paper studies the effect of globalization of child labour in the
developing world via cross-country analysis by decomposing globalization to its
components (foreign direct investment and trade). There research / study find that
the relationship between the child labour supply and gross domestic product per
capita (PCGDP) can be expressed as a U shape. The study also tells that the
increase in child labour in developing country whose PCGDP levels were above
7500 USD since the globalization took effect is positive for the positive substitution
effect was greater than the income in negative range. And their data was collected
from UNICEF and World Bank.

Companies strategies in a changing Global competitive

landscape
As we have discussed there are some countries that take too much benefit
from the globalization. These counties have started to dominate the emerging rapidly
changing economic landscape. And they developed a leveled and efficient
environment in their organizations allow the business to gain a competitive edge
over their competitors. Like India, china and Russia have made astonishing changes
in their business environments that have caused drastic well beings in their
competitive existence in the international market (Xio-li 2013). The before mentioned
countries have all enhanced their organizational environments in recent years, which
have significantly improved their competitive edge over not all but most of the
countries and have given them a competitive corner in the global economy (Hitt,
Holmes, Miller, & Salmador, 2008). Obviously there are states where the chances for
development are vast such as the Latin American countries, middle eastern
countries and perhaps some countries of Asia. Yet the BRIC countries are likely to
perform the most dominant role in the major projected changes in the global
economy (Jensen & Larsen, 2005).
In study a conducted by Michael A. Hitt and Xiaoping He they discussed BRIC
countries and concluded on the basis of the data collected for countries like India,
China, brazil, Germany and other countries, the global competitive landscape are
probably to be considerably different within the next 10 to 20 years. In their research
they suggested that the BRIC countries will play an important role in the changes,
with their considerable and astounding economic and political growth that will
develop over time in the courtiers.
The United States has recently created a unique innovation system leading
the world towards globalization and the competitive business environment. All the
countries are trying to keep up with this innovation system to truly bring innovation
and increase the organization’s productivity by proposing new strategies for tracking
the global competitive environment. Who can keep the living standards and
economic growth for the country by dealing with the new global competitive
environment set by the United Kingdoms and the United State that can lead to
innovation and creativity? The Government of every country is involved in research
and development for promoting innovative techniques and approaches for
encouraging high tech entrepreneurship (Petricevic and Teece 2019).
the latest competitive landscape of the world is dependent on the
advancement and innovation in the Tech sector. As the competitive business
advantage is being developed around the world due to globalization business are
finding new ways to raise invest and bring talent and tech in the organization for the
development of the innovative organizational development. Business concentrate o
building strategies based on low cost in the high profitability with new technological
advancements allows the organizations to increase the quality.

Technological revolution
Globalization and technology is closely related. Why? Because with the
increase in the ways of communication and connection all around the world there is
more and more ways for us to connect and find business all around the world. As
countries keep getting new and efficient ways the globalization will keep increasing.
Technology plays an important role in current globalization. Most
observers argue that technology is a force, a method, a technique for integration,
making the world a smaller, better place. Technology is said to bring "good things to
life." This is right, but only in a certain part. New technology also plays an important
role that few people consider. It may promote integration, but it also may result in
economic and political separation, a process that make people develop differences
from between them and distance from each other. A brief review of some recent
developments illustrates the diverse social consequences of contemporary
technology.
Consider the technological improvements associated with the
communications revolution. Fibres-optic cable and wireless technologies have
transformed telecommunications in recent years. In most cases, these technologies
have made it easier and cheap for people to talk with their loved ones and business
associates even when on the move and from great distances. Many have argued
that they have contributed to what Marshall McLuhan called the "global village." But
these technologies have had other, less obvious consequences. The introduction of
new communications technologies contributed to the substitution of these
technologies for old ones and resulted in the dematerialization of the raw materials
used in their production. And this trend in turn has resulted in low prices and a whole
series of economic and social problems for the producers of raw materials in the
periphery, that is poor countries across Africa, Latin America, the Middle East, and
South Asia. (Schaeffer, R. K.)
Globalization, digitalization, and biotechnologization are all mutually related in
now a day. Both the globalization and technology are dependent on each other and
both are promoting each other. Both are developing each other. Digitalization is the
skeleton of globalization, has taken over our lives without us knowing about it. The
reality word has far left the reality and is defined as ideas and the ability of the
people to develop and generate innovative ideas. With the introduction of the
biometrics there are increased chances of globalization and impact on local business
but is useful although it has its own negative points. These three factors form a triad
of promising and potent possibilities (K Chareonwongsak - Technology in Society,
2002 - Elsevier)
References
 Bell, D. S. (2003). History and Globalization: reflections on
temporality. International Affairs, 79(4), 801-814.
 National Geographic Society (December 23, 2019). Effects of Economic
Globalization
 Adesina, O. S. (2012). The negative impact of globalization on Nigeria.
International Journal of Humanities and Social Science, 2(15), 193-201.
 Dagdemir, O., & Acaroglu, H. (2010). The effects of globalization on child
labor in developing countries. Business and Economic Horizons (BEH),
2(1232-2016-101130), 37-47.
 Xiao-li, Y.H.T.F., 2013. An Empirical Analysis on Competitiveness and
Influencing Factors of Service Sectors in Brics [J]. Journal of International
Trade, 2.
 Jensen, T. H., & Larsen, J. A. K. (2005). The BRIC countries. Retrieved from
http://www.nationalbanken.dk/
C1256BE9004F6416/side/Monetary_review_4_Quarter_2004/
$file/kap03.html
 Chareonwongsak, K. (2002). Globalization and technology: how will they
change society? Technology in Society, 24(3), 191-206.
 Schaeffer, R. K. (2003, September). Globalization and technology. In Phi
Kappa Phi Forum (Vol. 83, No. 4, pp. 30-34). Honor Society of Phi Kappa Phi.