The study of global Business
I have a positive effect as a customer from the study of global industry. I now know very well that in the shortest time possible I can access international products which are not available in my country. Today I have become stronger because I know that globalisation, as I can choose from a wide variety of items, gives me more buying options. This helps me to demand products of high quality at low prices. Moreover, I will look forward to good customer service, because I know that competition is strong and companies must keep customers. Moreover, I am more educated, because knowledge on various goods, in particular because of technology, is available freely. My buying behavior has changed because I have learned that I can access goods and services efficiently in global business. As a consumer, I am now more interested in the value offered by a product or service.
Question 2
As a business manager, the study of global business has affected me positively. I am now in a position to make informed business decisions that will improve the profitability of the business. Through the study of global business, I have learned the importance of outsourcing, which facilitates the acquisition of inputs such as labor at low costs. This then translates to low production costs which give me a competitive advantage. The study of global business has also given me an insight into how markets operate. Therefore, I know what to look for and consider before venturing into a new market, such as the cultural practices and beliefs of the people in that market. I also know the importance of diversity in a business and any employment decision made henceforth will be in consideration of people from different backgrounds. Finally, I have learned the role of corporate social responsibility in creating a positive image and attracting investors.
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