Globalization and Diversity Essay Example | Topics and Well Written Essays - 2750 words

Globalization and Diversity - Essay Example This essay discusses the globalisation, that is altering the international economy today. Many activities are local in nature, many people, even today, live and work outside the international economic structure. But the direction of change is clear. The world aims at economic growth and higher returns and in return aids towards poverty reduction. Businesses and companies have spread all around the globe as well as people, each following a different religion and speaking a variety of languages, that come together for the purpose of trade of goods and services. The ability to conduct business internationally is an absolute necessity today. Business globalisation refers to a business expanding its sales and their assets over the national boundaries, involving a surge in capital, labour, goods and services. Coca cola is a perfect example, as they have profitably expanded their business in the global consumer market. Coca cola has used various tactics to achieve this. To reduce their prod uction costs, they have established transnational corporations. They have also focused on product branding and positioning, and revised their prices according to the competition. In conclusion globalisation creates an opportunity for businesses to expand revenue streams, diversify risk and increase brand equity. Many companies have successfully expanded their business as a response to the drivers of globalisation. There has also been a noticed development in the global strategies of companies as a response to globalisation.