16 Oct Unit 1_MT220_Discussion response
13715Respond or elaborate on the discussion post below:
I believe there are three broad ways U.S. business managers seem to regard global trade. First, many seem to disregard it and hope it will simply “go away!” This is particularly prevalent in small and medium-sized businesses. “It has always worked, so it should also work again ‘after the economy gets better.’” Second, there are those businesses that are willing to “participate at the edges” of global business but seem unwilling or unable to “think globally” or to develop strategies that would move the organization fully into global trade in all of its elements. These businesses “want it both ways.” They want the relative simplicity of domestic trade and domestic markets, but they want to utilize those elements of global trade that they see as useful to them in such strategies. It might involve importing or exporting some portion of products or services, or outsourcing some portion of operations. Finally, there are truly “global” businesses that have incorporated world markets into their overall strategic plans and view their markets and operational landscape as global. The risks and difficulties notwithstanding, I ask you to consider which one of these you would rather be working for today? There might be some temporary safety in the first group of businesses, at least until their market attracts the attention of global competition, but these businesses are experiencing the secondary pressures within our single domestic economy. The second group of businesses is perhaps at the greatest direct threat from global competitors as these businesses seek to gain entry into our markets. If these global businesses are more efficient, then economics would suggest that they will ultimately win this contest! The competitive future is much brighter for the latter group because global competition has forced these firms to reduce waste, get rid of inefficiencies, and work smarter. Global markets help these to minimize their exposure to market risk because they don’t have all of their “revenue eggs in one basket!”
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