The thought of going global has crossed the mind of many business leaders. The idea and feeling that their franchise and life goal is moving into international territory is enticing. There are some local business leaders who succeed in the quest of growing globally, but there are also some business leaders that are better off being local. Prior to transitioning into international boundaries, business leaders should consider international SWOT analysis from their business perspective and the criticism of globalization.
What is globalization? Globalization is “the name we give to this trend toward greater economic, cultural, political, and technological interdependence among national institutions and economics,” as defined by Wild and Wild. …show more content…
“Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis is one of the most effective approaches used for analyzing strategic management policy of an organization,” according to Shinno, Yoshioka, Marpaung, and Hachiga. Business leaders that want success will create a SWOT analysis that will help determine the best direction for the business as a whole. Determining success will require much preparation and focus. Proverbs 24:27 New Living Translation (NLT) suggests, “Do your planning and prepare your fields before building your house.” It is okay to be prepared for what may come ahead. Preparations allow business leaders the changes to have some idea and develop options just in case one task is not successful there will be an alternative …show more content…
Some weaknesses could be communication, currency exchange, and policies. Communication is key for a business to operate successfully. James 1:19 New Living Translation (NLT) states, “Understand this, my dear brothers and sisters: You must all be quick to listen, slow to speak, and slow to get angry.” Through the communication process, learning about what lies ahead is beneficial. Part of going global for businesses would involve interaction with the foreign exchange market. Wild and Wild defined foreign exchange market as the “market in which currencies are bought and sold and their prices determined.’ Between communication, the foreign exchange market, and the entire process of globalization, there are numerous policies and procedures that must be
What is globalization? Globalization is “the name we give to this trend toward greater economic, cultural, political, and technological interdependence among national institutions and economics,” as defined by Wild and Wild. …show more content…
“Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis is one of the most effective approaches used for analyzing strategic management policy of an organization,” according to Shinno, Yoshioka, Marpaung, and Hachiga. Business leaders that want success will create a SWOT analysis that will help determine the best direction for the business as a whole. Determining success will require much preparation and focus. Proverbs 24:27 New Living Translation (NLT) suggests, “Do your planning and prepare your fields before building your house.” It is okay to be prepared for what may come ahead. Preparations allow business leaders the changes to have some idea and develop options just in case one task is not successful there will be an alternative …show more content…
Some weaknesses could be communication, currency exchange, and policies. Communication is key for a business to operate successfully. James 1:19 New Living Translation (NLT) states, “Understand this, my dear brothers and sisters: You must all be quick to listen, slow to speak, and slow to get angry.” Through the communication process, learning about what lies ahead is beneficial. Part of going global for businesses would involve interaction with the foreign exchange market. Wild and Wild defined foreign exchange market as the “market in which currencies are bought and sold and their prices determined.’ Between communication, the foreign exchange market, and the entire process of globalization, there are numerous policies and procedures that must be