Question

Given that globalization connects countries in many ways, managers need to pay close attention to economic environments to understand how _____.

Answer 1

Answer:

distinguish one place from another.

Explanation:

Globalization corresponds to a process of economic, political, cultural and social integration between different countries, which was motivated by the advance of new technologies, which boosted communication and transportation between different countries.

Globalization has a significant impact on the world, it affects communication, the movement of goods and resources, international trade and other variables.

Therefore, it is important that in a company that wants to expand in the world market to have an organizational culture focused on a world view of management, prioritizing the internal and external environment that differs according to the country in which the business activities are implemented. It is necessary for managers to have an ethical view of doing global business, where there is respect for different cultures and a positive organizational climate.

It is also important to segment the local market, taking advantage of all the small opportunities that a new market can offer, such as reducing costs and maximizing profits, government incentives and hiring experienced employees in the local market.