Globalization and the Information Revolution - 1535 Words

A former Intel CEO and senior advisor of Intel Corp, Andrew Grove stresses a great importance on international competition by stating ‘you have no choice but to operate in a world shaped by globalization and the information revolution. There are two options; Adapt or die’. Grove’s statement effectively conveys a great importance of competing in a global economy in order to for an organization to expand, grow, and thrive. As of late, international competition and trade surfaced as one of the most important aspects of organizations’ growth as many barriers have lessened between countries and to make global trade easier (Twarowska, 2013). Thomas Friedman examines influences that shape the global economy, business, and competition through†¦show more content†¦It has secured a big portion of market shares domestically and globally as a fast-food restaurant. McDonalds approaches foreign markets with such innovative and flexible menus that incorporate bu yers’ preferences and cultures in different countries. McDonalds has not been immune from a sales decline as seen in any other industries recently. Despite its previous records of outperforming other competitors, it has encountered a change in market environment where customers are health conscious and willing to pay more to eat better quality foods. Overall, the global sale and domestic sale have both declined in the recent months. However, due to the incessant efforts to stay ahead of its competitors in the global market, McDonalds certainly has been able to offset a recent decline in domestic sale by its global sales volume. Most of its revenues are generated from sales abroad. In 2008, its sales abroad reached more than 60% of their $23.5 billion revenues. The company is performing greatly in Europe and Asia. In France, customers can order â€Å"P’tit Plaisirs† or â€Å"small pleasures† and Mexican-themed Le P’tit Mex and Le P’tit Poivr e from its French menu. In Australia, customers may order vegemite on toast. In case of McDonalds, their profit sanctuaries are outside its home market due to its well-orchestrated transnational strategies (Thompson, 2013). Of many strategies used in global competition, international alliance and collaborationShow MoreRelatedThe Impact Of Technological Revolution On North Carolina s Economy Essay905 Words   |  4 PagesGlobalization is not a new phenomenon. However, if the average person on the streets was asked about globalization, the overwhelming response would be connected to newer technologies such as the Internet, tablets, or cell phones. This response is due to the rapid expansion of the globalization concept occurring during the technological revolution. The technological revolution is credited for enhancing the U.S. and global economies. 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