Cheryl Beckham

There’s a grocery store in Europe that makes our little ’self-checkout’ lines look obsolete already.  In Germany, there’s a grocery store that you take your cell phone, scan the items with it that you put in your shopping cart and then when you get to the check out, your cell phone will display a bar code for everything you scanned total, the check out person scans that and you pay and out you go.

So it looks like we’re not only looking at advances in grocery shopping but also in cell phones.  At the check out, once you scan the payment bar code, you can pay by cash, credit card, debit card or fingerprint (after you have signed up for fingerprint shopping).  And the politicians wonder why we are falling behind the rest of the world where technology is concerned.

“We should be too big to take offense and too noble to give it.”
- Abraham Lincoln

With the growth of the internet and online business, many individuals and companies are finding themselves in a position to do business globally – a position they never before dreamed they would be in. The Internet and business on it, however, has made global business a reality for many companies, both small and large. With change like that comes a whole new set of rules, possibilities, and factors for growth and profitability. These are all factors that must be realized by company owners and managers as they look to their expansion potential.

Global Business Factors You Need To Know

1. Economic Factors: This is by far the biggest factor in determining how an international business can grow. If all of the economic factors are favorable then you have a recipe for success. If, however, they are not aligned then you put yourself in a situation where growth not only stagnates, but the entire business process and growth can stop. This is all dependent on a strong and healthy economy and if that factor is not in place then everything else falls apart. When countries are in recession or the economic climate is not favorable, then this puts everything in jeopardy and globalization or growth will not occur.
2. Cultural Factors: The way that people operate within a society or within their culture has much to do with business globalization. Certain beliefs, ethics, or traditions can inhibit growth in certain segments. Certain products or services may not be favorable or recognized by certain cultures. It’s always important when entering into a global business climate to be aware of and prepared to honor all cultures so that you can follow them appropriately.
3. Market Share or Segmentation: Each company participating and competing in a global business culture and climate will gain their own market share. The way that the market is segmented may have much to do with the way in which the growth occurs. If one company is on top and stays in that position, then the competition becomes much fiercer. There is a lot of shifting and readjusting that companies must to do earn and to keep their market share or “piece of the pie” in a global business climate.
4. Technology: New ways of doing things are constantly being introduced. Technology has much to do with the way in which we operate and therefore it has a rather significant place within our business world. When we look at this on a global level, then technology can play a rather significant role in growing things or causing others to trail in following along.
5. Government Involvement: Though some governments don’t get too heavily involved, others run the show. When it comes to business and looking at it from a global perspective, the way that government handles things and how they let companies run will determine much and affect growth accordingly. Learning about managing governmental involvement is essential for the successful global business.

There are many factors that affect how companies grow or remain stagnate in a global business climate. These are the most important to be aware of, but there is always something new to be learned for the most successful global businesses.

Mary Frederick ordinarily blogs about business news and information, as well as helpful information for students who would like to earn a master degree international business.

It’s a sign of the times, what with gas prices up once again, and the dollar is still waydown. It seems life is much more expensive today and I ‘m definitely not making anymore in order to keep up with it all. Most people I know are trying to do more with less, and now I am considering doing less with less.

I have certainly been traveling less, less road trips, less trips to the stores by making more purchases on-line in an effort to save more gasoline. Vacations have been less the past several years, and I don’t see myself booking and trips to exotic locations with expensive hotels any time soon.

Something definitely needs to give here, and soon.

I actually got my taxes done and mailed off before the April 15th dead line this year. It was nice to go to the post office and not have to stand in line with dozens of other people that have waited it out as long as they possibly could before mailing off all of the paperwork that is required of us each and every year.