Globalisation of Markets Essay Example | Topics and Well Written Essays - 2750 words

Globalisation of Markets - demonstrate ExampleGlobalisation of MarketsLevitts research relies on secondary data, observation and statistical evidence pertaining to the globalisation of markets via technological innovation and the emergence of global products. He does not define his research strategy, nor does he understandably specify his data sources. This, however, does not detract from the value of his study as what emerges is a highly valuable and well-articulated explanation of an emergent market phenomenon.Levitt concludes that the world has become flat and that corporate entities must tailor their trade strategies for greater consistency with this new reality. As he contends, the flattening of the world/globalisation, has led to the evolution of the global consumer, with the tax write-off being that consumer preferences are no longer determined by geography and culture. In addition, emergent technologies construct transformed sparing realities in such a way that nationa l borders are increasingly porous, thereby facilitating the transnational flow of goods and services. It is contingent upon companies to address the new reality, as accurately described and defined by Levitt, if they are to remain competitive within the parameters of a globalised economy while, at the same time, exploit the economic potentials of this reality.Levitts article, as may have been deduced from the preceding, emerges as a definitive introduction to globalisation and its repair on international business operations. Levitt provides a precise and concise definition and discussion of this new reality, on board a prescript for business and marketing strategies therein.