Competition – What do we mean by the Global Market place?

1. What do we mean by the Global Market place? Global means to introduce the company world wide. To make the company known to the whole world rather than just one country. 2. What is globalisation? Globalisation refers to the way a company sets out to operate in exactly the same way throughout the globe using the same packaging, the same products, the same adverts, etc., in every country in which it operates. 3. What is internationalisation? This refers to the way in which companies expand their operations overseas in order to exploit new markets. 4. To be competitive an organisation needs to make sure that it: * Provide quality products that meet customer requirements. * Values its people- the most important resource of any organisation. * Uses modern technology, including information technology, to its full potential. * Ploughs back funds into new investment, research and product development. * Experiments with new ideas and sets out to lead rather than follow the field. * Makes sure that it has outstanding customer and community relationships as well as respecting the environment. * Takes into consideration the requirements of all its stakeholders.