Technological Advances: A Global Village
|✅ Paper Type: Free Essay||✅ Subject: Marketing|
|✅ Wordcount: 4417 words||✅ Published: 12th May 2017|
1 Introduction of assignment
The transformation of this world due to technological advances is making it global village. (McLuhan, 1999) in the past three decades, many governments set for free market system and their economy abilities and opportunities have attracted international business to invest in their economies. Even there are more results of globalization related to these economies. There are many efforts made by all governments in the world to the elimination of restrictions on business and trade. Many have provided their people with waste choice in goods, services and other sectors throughout the continents. With new opportunities it is expansion of global business that has benefited all industries and sectors. There is development of new companies and business with many other partners in foreign markets. This lead system to an international trade and business. There are now new businesses and structures which can make more profits from this economic globalization.
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There are many universally accepted benefits with this globalization now days. Technology is one of major cause that drivers globalization and it had transformed human social and economic life in a way which giving both consumers and businesses new way to discover economic opportunities. There is much with consumer needs and choices that been developed with this global business. There is lot with the value of your choices and needs. Well understanding of economic trends in all parts of the world is result of this change and can easily be transferred to shape up better life in human society with the funds and goods now available to all countries. There are many commercial and economic benefits for all partners in this way from transactions, mergers and acquisitions that now become commonplace issues. All we can thanks to this positive effects that globalization have contributed in human life by increase in employment, cash flows, cultural, trade and other external unfolding in this way. There are also environmental and social issues from awareness to actions among masses of this world. However as it is said that there can be two sides that every coin have, same is with globalisation as we see some negative due to this globalization. There can be lot of debate over this issue of advantage and disadvantage of globalization, we find many anti-globalisation protest especially global economic forum is famous for such protest every year. Yet it is very difficult make a conclusion that wither it is a blessing or it is a curse for world. We in this particular study will focus on the concepts of globalization, we will also see into the advantage and disadvantage of globalisation. We will try to find how businesses use to manage this trend of globalization based on their activities for any new market. At some point we will make analysis about the entrance of Toyota in the UK market.
2 Globalization as Phenomenon
Globalization is controversial term in itself; while there can be lots of opinions about this. The world have witnessed many advantages to this phenomenon of the globalization. We are also seeing many ill effects or demerits of globalisation especially the trends and behaviours that harming environment on large scale. The concept says that “globalisation is phenomenon lead by technological advancements and advancements in transportation that making work a smaller village.” Globalisation is result of scientific advancements in communications and transportation means. It had turned the world of business a rapidly changing and growing world. Many poor economies have gained lot and with much better speed with this global trend on business. Today one can travel a start business in other corner of the world with better speed and growth. Globalisation has raised the human living standards and it had helped many poor economies to get advance with speed. There is also believe that it have benefitted only the multinational businesses not the people. It is also said that it had made high up damage to local cultures and businesses. All the small firms operating locally have to suffer from this trend that is reason many local governments sometimes discourage global companies in their areas to start a new business because they want to save local business and markets. (Robock, 1989) this has lead to many questions about the future of this globalization as there are many such ambiguities that are related with it. We will be looking at some aspects in this study like is globalisation good or it is bad? What are cultural implications of this? There are many questions that cannot be covered here like what impacts globalisation making over social and religious traditions? There is needed to make this phenomenon a balanced one to get more benefits for businesses and societies. We can find many answers related to business expansion and global economy.
2.1 Business Globalization
Globalization of businesses like all other a thing in globalisation is happening and it is taking world economy, world politics and global culture. (Hill, 2007)This included the expansion of markets and business throughout the world. In business main objective lies with profits and profits come with margins between price and cost of production or through large scale selling. There are more benefits for both consumers and business men with global expansion of business. The companies going into global markets need to make changes according to local markets to get attraction from customers to buy their products or services. These new expansions of global businesses and communication have created a new global business culture over the world.
2.2 Advantages and disadvantages of Globalization of business
There is lot of debate over the advantages and disadvantages of the global markets and businesses. There much in written and talked form over every platform about this. There is need to look into these things to do a good justice to this study. In coming study we will look at the advantages and disadvantages of the Take a look at the following advantages and disadvantages of global marketing. There is different situation with different companies around globe. There are certain advantages and disadvantage at same time for globalisation of business.
â€¢ Reduction in marketing costs: If we look at amounts of marketing for global business it looks huge but if you compare it with unit costs or costs relating profits then its reduced from the costs that were being made for local businesses.
â€¢ Global levels: in its scope a global business have wide global level of markets that can generate more earnings through sustainability of demands over the periods and in new markets as business expands.
â€¢ Brand images: Now a day growing global marketing makes easy for businesses to make a static image that can be spread over the continents through different markets.
â€¢ Smart Ideas: global businesses are able to make use of the marketing their ideas to have a strategy about products that can be very smart in its way to generate more profits through these innovative ideas on a major global scale.
â€¢ uniformity: Throughout the world companies have kind of uniform approach related to their business that helps in monitoring and developing business with less efforts.
â€¢ Need of consumer: An American consumer have different choice from consumer in South Africa that costs companies lots of money to make such adjustments.
â€¢ Consumer Reactions: Consumers in different part of world have very different reaction to things that sometimes costs lots of losses to businesses.
â€¢ Local product: It is allowable for some product to get adjust for example for a Japanese with kind of traditional, and for an American some modern aspect related to product. This need different strategy and technology to deal.
â€¢ Local Laws: policies of the company must be in accordance to local laws of their countries. May be laws abroad may be conflicting in these policies.
â€¢ Disputes: infrastructure sometimes brings disputes in the industry and with authorities that always costs to businesses.
â€¢ Wealth concentration: This is believed that globalisation is concentrated with wealth seeking activities and its major focus is not development and welfare but profit seeking.
â€¢ the income gaps: It has produced lot of gapes between the developed and underdeveloped countries.
2.3 Culture of Global Business
Should always be economic growth at the site of a unique cluster with a fleet of pool of skilled and educated workers. It had access to the depth of the market, or rather access to the last mile is always as conflict or challenge corporate world with some companies having advantages due to huge investments. Costly structure is the global challenges for economy and growth, but need for rethinks about value chain and activities that made distance and time irrelevant. Some companies has adopted with these challenges by the strategy used for this is “flooding of money and men power” that have set for talents and culture of discipline it also have enhanced the capacities and skills of the labour.
This global innovation is quite mixed deeply to the organizational of culture as it is based on multi-talented that make advantage for companies. Thus there is chance of integration of cultures and local knowledge with a wide range of global things to make things work fast and better way.
The world today, and technology flourish because of the Indian information technology experts. Are imported motorcycles Bajaj and Kawasaki today face to face with Harley Davidson, BMW and Honda. It is estimated that today there are about 3000 Challenger at the global level. These companies will be a force to be reckoned with because they simplifiers, adopters, Interpreters and drive to succeed and survive in the coming days.
They should be able to compete on the basis of the competitors time to a new model for the success of companies in this new trading environment where it competes with everyone and everyone from everywhere. (Gitman, 2008) This could become a competition based on time if and only if they can provide greater value to many times on the model more flexible than the competitor, whether it is another competitor or global giant. These companies need to understand the value of the proposal that the client is looking for and make then make their products according to this value by looking at the client. This pricing on the basis of the value in the case of these companies are looking for and why you should do.These rivals at the same time and some of the strategies in place to surprise their rivals.
2.4 Global projects and Project management
Global project management putts set of challenges regardless the business physical locations or regions and time. There are many cultural issues that can go beyond simple things of language and time differences. There are many issues related to management, efficiency and reporting. All big organizations have global business these days and the managers at headquarters have to manage with difficulties and differences of all these countries and their cultures. There must be best options on table for effective management either it is based on communication or geographical diversity. There can be projects that face with cultural barriers at the start but with adopting a successful multi-cultural level team that suits the local systems these can be covered.
It is significant to be familiar with minor diversity that can appear later as enough thing to influence the outcome of any project. For example if distance of countries is not more than they can have a cultural similarity like UK and Spain. But if it can be like United UK and Australia that have distance but similar cultures. But if they have different culture and distance that can bring problem for establishment of effective teams and results for a company.
These assumptions can be incorrect, experience has shown that almost always from any one of the following differences will affect the project, and these differences should not be administered properly.
1: identify the difference
2: Language difference
3: Time Difference
4: cultural difference
2.5 Key elements for starting New Business in Markets
Details on the environment through any legal agent, also get the knowledge of history. In your case the other party and to check on things get as much information as possible. Whatever you think your customers will see their case as. There are all mediation and efficiently for our clients to negotiate certain techniques. There’s some kind of guidance before going into business should be.
) Proper communication b
While e-mail, telephone or other appropriate tools to communicate in day to day, also weekly conference calls and commitments should be scheduled for more progress and enable open discussion about the issues.
C) Business Expectations
At the beginning of the project report should determine the frequency form. It is likely that the local level and the global need for various reports
D) address cultural issues
This is a two-way (or more) process to make sure that all teams hope to understand each other’s point of view. If necessary, the different cultures to conduct the investigation cost, quality and status of different areas such as time should be estimated. Can be also found at different locations culture references, but the difference in skills.
E) lack of recognition
While not listening to the local teams at the same time the global project team members such as lack of respect for personal obligations, the director works much excitement in the region is likely to result in the negative. Instead, the day when all members are available and the decision as a conference call or regularly for updates on the report, a general order for the report within the time limit should be.
2.6 Development of international team
i) motivating teams
The global project manager to understand what motivates a variety of teams is important. Quickly and make your team members with the key to honest discussions can connect. Level, this responsibility also lies at the local level should determine.
Progress ii) Monitoring
There project when it is not possible to assess the progress a few steps. For example, when there is work and the completion of the first group depend on each other based on the progress made in two types of packages. Building trust and loyalty between international teams and local communities, and ensure reporting completely honest and gives an accurate picture of progress.
iii) Regular response
Project manager is always work to clearly define expectations for all the world should provide a detailed proposal. Failure to do so that misunderstandings and poor work due to the fact that not all team members located in the same location will be exacerbated to can lead to.
2.7 Trade Control
Tasks of a) Distribution
Where possible, teams of expertise most appropriate for use with each task. Communication with all teams to explain the reasoning task assigned to the cost benefits where appropriate, analysis using the ill feeling between the teams to prevent.
B) dependency management
Should be based on the skills available in one place and work groups should be allowed to manage. When possible, dependencies, deadlines, do not plan very carefully and detailed the relevant features are required to document the objectives and results
C) global stakeholders management
Stakeholders to identify and relatively clear, but large and complex projects to the expectations of stakeholders in the analysis is not the world. And different agendas and competition between different groups, and these relationships should be managed as a whole in the world to reduce the impact on the success of the project.
2.8 Task Distribution
Exchange must “agree on the overall level of requirements for any request, after we consult with all stakeholders. Allstakeholders schedule and local level by the overall level before agreeing to the impact on budget and authorized MustAssess” any changes.
) I determine the purpose
Despite the risks inherent in each project must be, andmitigation should be in place, we work for the overall project requirements and deadlines allcategories understand and, more importantly, it would be all AcceptableTo all teams should fare. And then become a reality “reduce the likelihood of any threat to.
Two parties with one another are among atwar a way to dispose of. In mediation, you “always use alternative dispute resolution Someform arbitration to settle disputes amicablyBetween andpicks parties to use the technology. Dialogue between the parties solve the correction based on gold appropriée. All parties generally must be” see shed, an honest broker, and we should carefully consult history and often suspect. Tosettle mediate conflicts and disputes resolution broker, commercial technology, and legal as well familyissues, and use of personal diplomacy, and in the workplace
Toyota 3 cases
Toyota also in the United Kingdom is 21, which is still in the development world and new transport and production solutions while respecting and protecting the global environment to address the challenges of achievement leads. Toyota Motor Corporation Established in 1919, and the clothes are interested in the theory advanced loom on the horizon for building. Today, Toyota is a truly global business, worldwide manufacturing of vehicles in factories on six continents and over a quarter of a million people directly to work. 160 to market their products are sold worldwide. Europe as part of a wider strategy, the company’s production center is built here: Introduction Toyota, near Derby, Burnaston, in the heart of global manufacturing plant, a company that has grown in 70 years, the largest supplier has become the world’s third largest producer of car engines in Deeside. (Toyota, 2010)
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The second is in North Wales. Powered by Toyota Manufacturing UK (TMUK), they present surplus of £ 1.7 billion investment represents. Burnaston new Toyota Avensis, which began in the spring of 2003, only center for the production. It also creates three versions and five-door Toyota Corolla. In 2002, Europe’s most important car manufacturer Toyota and efficiency in an independent survey in 2003 another came in Burnaston has announced that production on the clock to take an unprecedented step to launch a third daily shift start there will. Deeside already working on a three shift pattern, both gasoline and diesel engines for the new Avensis and Corolla built. (Toyota, 2010) also makes engine parts to Toyota factories around the world, Turkish and French exports to other countries including South America. United Kingdom, and Europe’s second largest for new cars Toyota and Lexus models 2002.Sales, which together represent about five percent of total sales equal to 133 500 to more than 2.5 million registered with the market. Toyota Lexus and Toyota with 17 and six models of any plant in the United Kingdom offers a broad range of products. Britain’s fourth-largest source of the car, and Toyota in manufacturing key and influential role in the country. Toyota personal transport solution for the construction of continuous production and have been working can be effective and that are looking to the future. Company heavier compounds and technologies that address the issue of environmental concerns and diminishing resources have been invested in development. His work in the UK, with the creation of high quality environmental impact of vehicles to meet all the demands of motorists today by reducing the Toyota clearly its commitment to future success. Toyota is still the British government and the automotive industry as a whole on a wide range of issues affecting their agencies working together, especially in the campaign for cleaner and more efficient solutions, and Transportation seems to manufacturing. United Kingdom’s main market, both in terms of sales and building a new Toyota Prius
Of world production of Toyota cars. (Toyota, 2010)
Manufacturing production outside of Japan since 1959 when it opened its first factory in Brazil and abroad. Today 27 countries including Japan, the 58 factories, and construction of over one million six-year cars sold in different markets and 160 national. Toyota car production in the United Kingdom is an important element of global manufacturing strategy. The company’s theory that the cars where they are sold to local market needs of the building after completion.
1989 UK Manufacturing (TMUK) Toyota Motor Corporation Toyota Motor Co., Ltd. based on the state line while in the state, paving the way for the first European car manufacturing process. 1992 Production begins in the mail with Kareena Burnaston factory and engine production begins in Deeside. E Kareena ends 1997 with production to replace the Avensis; TMUK export wins Queen’s Award. Avensis Corolla launched in 1998 with Burnaston production. Toyota Avensis first exports to Japan. Deeside production line Toyota RAV4
This has helped increase exports Toyota five levels in all parts of Europe as a producer in the United States to stabilize the situation continued strong sales performance: Toyota is now the largest exporter of cars manufactured in the United States fourth largest full- . TMUK are estimated production of 20 percent of the domestic market in exports, and the balance of Europe and the world (about 75 percent and five respectively) of the rest. Toyota has announced that the model is sent to the Avensis 36000 per year.
More than six million vehicles in 2002 to build the global situation, Toyota Motor Corp., maker of cars occupied by the world’s third largest. Toyota 58 factories in 27 countries around the world is going on. All day, every day – the equivalent of industrialization and the construction of a car every six seconds level. Marketing of Toyota vehicles in more than 160 countries around the world. â€¢ Toyota 50000000000 pounds more than the market, General Motors, Ford and DaimlerChrysler combined value of more value. Toyota Production System Toyota Motor Corporation and the early days of the company’s founder Sakichi TOYODA motivation has its roots. Invented the horizon, which automatically stopped the emerging theme that is cut during the process if any.
Toyota PLC (GB) United Kingdom Good marketing and sales strategies at the national level. All these departments have been working effectively with sales, marketing after sales service and customer relations. The Surrey Heath since 2001 in the new headquarters was near the Epsom. The headquarters has about 400 employees. There Grimsby Derby and the vehicles and logistics center is working efficiently.
Toyota increased its sales in the United Kingdom continuously for 11 years had achieved a performance record. The fastest growing UK brand position.
4 Porter’s five forces
We can make a study based on Porter’s five forces to know the competition levels in any industry which is working in this global environment. The industry should look at its large part to determine the business strategy and particularly growth strategy. (Hill, 2007) also on the basis that the economy is essential to this industry, and the possibility of profit is determined by the industry is very competitive interactions. That can be drawn where these interactions are intense, tend away from the profits of competing activities. Where light and competitors seem manageable, and the possibility of profit tends to be high. After making understanding of all main elements of competition in this industry is easy to look into things.
Porter made identification of five fundamental forces which collectively illustrate the state of any business current or future destiny.
a) Competition in the industry
1. What is the intensity of competition among competitors
2. Is there any threat of some new entrants to this market
3. What is level of bargaining power that suppliers have
4. What kind and level of bargaining customers have in the industry
5. What kind of alternative products are available as a threat
These forces help to determine presence or absence of opportunities that can be there for industry or company to gain high returns.
As the porter five forces are weaker for some company it have chance to get more opportunity in the business to make higher growth and profits. More generally understanding is about forces that how these affect competition within the industry and these then determine position of company and its strategy options in future.
b) Consequences for Toyota
i) The threat of entrants (Very high)
ii) Power suppliers (Very Low)
iii) Threat of substitutes (Very high)
iv) Power of buyers (low)
v) Threat Rivalry (high)
Companies in the current environment need strategies at the global level since their starts of the work and for any new launch in business. There is needed to look for the growth at the highest international level and there should be measures that are necessary to control major declines in business. There is need to avoid stagnation in one area of world that makes unequal growth of development. There is need for SMART as specific, measureable, achievable, right and time bound strategies to survive in this global business environment. We can see how Toyota and Skoda making things moving in their favour by diversity of strategies. There is always need for a good global image. All businesses need to find ways to keep pace with this growing global economy and competition in the markets.
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