The New Face of Global Competition

Abstract

‘Global’/‘globalization’ are probably the most frequently heard concepts during the last few decades but globalization is not a recent phenomenon; the paper analyzes globalization in its contemporary meaning. Globalization is a natural transformation, and we can talk about new forms of globalization. In a developed economy, critical success factors to a leading business are likely to require intellectual qualities based on unique knowledge in areas like innovation, branding, and technology. By outsourcing routine business functions such as manufacturing, customer service desks, and IT software development, companies can reduce costs; focus on core businesses, and benefit from the global service capability of its service providers. This paper shows some of the mistakes done by companies in this rocky road, solutions they found, perception of natives and expectations of the hosting countries. Lessons would be that global issues need careful dialogue and the understanding of native stakeholders must be reshaped via communication