Reflection Paper On the Globalization of Retailing Business
The authors’ insight is more on playing safe. The very good point made which I believe is very powerful for business to contemplate on going global is the backed-up finding on “Retailing does not have a significant impact on the sales growth rate or profit margin.” The weak point perhaps is that the article seems to have a discouraging impact for any investor who might want to go global. Personally, the article has an “aura” of playing safe. But we know that in business, it is more on risk-taking. In my personal life, I learned that it is by taking risk that one knows how far one can go. Just as the song says” but if you will never try, you will never know.” Similarly in business, a company can only go so far where it allows itself to go. I might be abstract, but the point is the company should not limit itself. If a retailing company wants to go global and it has the resources, then it should. It can study what has happened to those companies which failed and learn from them, consider adjusting its strategies to penetrate its global market. It may sound simplistic though but it might need a lot of resources. I am saying this because I have read about Mary Kay Company, a skin care/cosmetics company. I personally am a Mary Kay Products dealer and before we can proceed being a Product Dealer, our supervisor told us to read the book about Mary Kay which tells about the humble beginnings of now the world-renowned company. In the beginning, many opposed Mary Kay Ash, about starting the business. With her husband passed away a month prior to the company’s opening, her Accountant and Lawyer said she should give up the idea. But the unrelenting Mary Kay founder proceeded with her idea and only had her not-yet-twenty son act as manager and Mary Kay on the sales side. It went on, until the business flourished and they were able to hire more people to help the business grow. There were ups and downs of course...
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