Q1: Define Globalization 1.0, 2.0, 3.0 and provide a sample of the type of business data managers collected during each era. Globalization 1.0 started in 1492 when Columbus set sail and lasted until about 1800. As it’s in our book, in this era countries dominated by white men controlled businesses, mainly about governments and countries. The various colonizing peoples were concerned about the extent of their individual power and the best way to extend their influence. The power of individual nations began to be felt in many places on the globe. Sample data during this era would be what politicians are mainly interested in. as a business owner, data mainly about demand of product in particular region (as its the time before global market). Globalization 2.0 started in 1800 during the industrial revolution and lasted until 2000. This era was about multinational companies. During this era international companies ran by white men had power over business. Data collection in this era would be like demand of product, raw materials needed, labor needed to manufacture the product etc. Globalization 3.0 started in 2000 and is continuing through this day. This third era is all about the world coming closer together, becoming something like a global village. we all have become part of global market, businesses are ran over the internet. In this era people of all colors from all parts of the world dominate business. Data collection is this era is very different and broad. we are now part of this era which is part of the global economy, businesses have customers across the world, and have systems that can collect data about overseas customers demands. Companies have manufacturing plants and offices in different parts of the world and are still well connected via internet.
Q2: Explain Friedman’s flat world and the reasons it is important for all businesses, small or large, to understand. Friedman says that the world is integrating and growing smaller at an accelerated pace. In a sense, he says, integration is the main point of understanding globalization. He believes, not many Americans understand what has happened to bring about an integrated world seemingly overnight. It’s important for all businesses whether small or large, to understand Friedman’s point of view because it will help them understand the economy and that the business world is changing every day. It is important to understand these changes to run the businesses successfully.
Q3: Demonstrate how students competing for jobs in a “flat world” can create competitive advantages to differentiate themselves in the marketplace. Students can create competitive advantage by studying hard, getting the best grades, getting their foot in the door at the right job, staying in touch with the business world etc. It’s important to bring the competitive advantage by gaining experience and coming up with new ideas that can help the company they work for. Competitive advantage is what sets one different from the other. Students should remember what sets them different from other candidates and work hard to polish those skills.
Q4: Analyze the current business environment and identify a new flattener not mentioned on Friedman’s list. One thing not mentioned in Friedman’s list is the idea of Christianity and Business. After taking the Christianity in Business class and learning the idea of ‘Kingdom Business” I think that this concept will be very beneficial in the Business world today.
Q5: Propose a plan for how a start-up company can use any of Porter’s strategy to combat competition in a global world. After reading Porter’s strategies i realized that following these critical points can help a business run smoothly and successfully. As we are discussing business startup, i’d like to talk about “Choosing a business focus.” From the very beginning, its important to have business focus, which then makes it easier what business is about what is the target...
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