Assignment 1.1-the Impact of Globalization on Small and Large Corporations

Leading from a Global Perspective Module 1 Business in a Globalizing World Assignment 1. 1 Dialogue 1- The Impact of Globalization on Small and Large Corporations Cheryl Tomlin Nov 07, 2012 The Impact of IT and the Internet Improves transfer and handling procedures and tracking aids quality control eliminates contamination helps companies to follow rules and regulations. Impact of Global Business Regulations In the global market place, there atomic number 18 four universal points- safety, benefit, legality, and economic viability. The process might be different between countries, but the goals are the same.Important steps fork up been made towards global regulatory harmonization as the food industry is driving the harmonization of ingredient regulations. (www. foodnavigator. com) Worldwide Access to Foods Accessibility to food in a global business environment is affected by global market volatility supply chain where the food is organism sourced how countries are getting food con sumer demand food and health. The Availability of Scientific Research and Talent Advances in the scientific understanding and engineering techniques have increased agricultural production and have allowed for the commercial-scale production of tasteful foods.The variety of food available is no longer limited to local products as perishable foods can now be transported farther away and have increased shelf-life. For example, McDonalds Corporation engineered food not to spoil as fast. Overseas Competition Some competitors may have different profit objectives and around international competitors may be more or less susceptible to currency exchange rates. (www. winkinvest. com) Future Trends in Globalization Schema Consumers are beseeming more outspoken and demanding in their food choices. According to the Puratos Group, there are 10 future-proof consumer trends for the food industry.Themes include overall quality perception openness and transparentness local self-expression city brands history and tradition portability what is healthy based on size, volume, shape and portion authentic small market look and feeling convenience. (Moerdyck) In comparing Kraft Foods to Hansens, the former has a far greater global reach. In order to minimize marketing expense Kraft has decentralized a great deal of its decision making to local management teams enabling them to make decisions quickly- critical to maintaining an edge in a very competitive industry.On the other hand, Hansens operates to begin with in North America, with less diversification as Kraft Foods. Kraft has both beverage and food products while Hansens only markets beverages therefore being unable to develop the same level of presence as Kraft Foods in the global market.References Moerdyck, Anke. Oct 24, 2012, http//blog. insites. eu. http//www. winkinvest. com/stock/Kraft_Foods. Feb 27, 2009. Fletcher, Anthony. Jul 06, 2006. www. foodnavigator. com/legislation/IFT.