Question

In this age of globalization, some gurus argue that all industries are becoming global and that all firms need to adopt a global standards strategy. Do you agree? Why or why not? Illustrate your points with relevant examples.

Could you please tell me how to write this essay ? Such as essay structure and details of points.

Answer 1

A global strategy requires an involvement of thinking in an integrated approach in regard to all aspects of business-its suppliers, markets, production sites, and competition. It involves the assessment of every product or service from the perspective of both domestic and international market standards.

In my opinion, in the era of globalization, all firms need to adopt a global standards strategy because it leads to efficiency. The biggest benefit of a global strategy is that it allows a company to leverage economies of scale. When it sells the similar product globally, it can buy in bulk the raw materials, company potentially saving the hundreds of thousands of dollars per year. Global strategy is also beneficial with regard to product life cycle. For example, a laptop company could sell its older-model laptops, specifically unsold, leftover stock, to a less-developed country after the launch of a new laptop model. The older model may be outdated the consumer standards of random access memory and operating speed in United States or Europe, however the strategy is an approach to get rid of old stock as long as it is on par with competition in the less-developed market. From a company perspective, global standards strategy provides the opportunity for new sales and profits. Example: Coca-Cola is able to use standard distribution, a packaging, and brands in global markets