Tip 9: If you want to be successful Globally be prepared to innovate within your standard way of doing things.

Many companies would like to be a globalised but to do this they would have to consider what the differences in customers are and what will attract them in these different countires. A focussed use of innovating will have to be used here for them to tap into these new markets and adapt to these different cultures.

"Globalisation is when a company grows to point that they trade in most parts of the world"
(Debab, 2011, p8-10).

To be trading all round the world shows a great sense of success and you can see how it would appeal to companies that already have power in the market they are in. Well known globalised companies such as Coca Cola, Tescos and McDonald's adapt in different cultures through innovation to gain sales.

One successful company Wal-Mart has shown how globalisation can work being top of the 500 most Global list. "Wal-Mart Stores maintains its perch atop the corporate ladder, taking the top spot on this year's Fortune's 500 and Global 500 lists, both for the second year in a row. " (DuBois) Walmart has stores all over the world in China, Canada , India, Japan, Brazil,UK and many more and these are a good example of how all stores do not look the same and do not even have the same names.

ASDA which is a very well known store for affordable weekly shops in the UK is under Walmart mangement. "In June 1999, Asda was acquired by Walmart and has grown into Britain’s second largest supermarket". They have gained success after been taken over by Walmart as they have had the money to change the market to attract more customers. This shows how a company can adapt their brands to suit the market in different countries through advertising, name, colour, font, and the lifestyle choice they choose.

In the Uk

In Japan

Another thing to consider when a company is Global is if a country is of similar wealth or culture could learn from the products they have used and become successful and try it out in a different country. This could be done for a short period of time to see if it attracts attention and if is it does could become something that is sold all the time. For example Asda could sell products that have been best sellers in America's Wallmart stores to see if they would be successful here.

There are some negatives for a company to aim to be globalised as it quite expensive to change aspects of companies to achieve success in different parts of the world. Trying to chase the market could lead to bankrupcy.  A company would need to do a lot of background research on a country they were considering selling to so that they understood customer needs and knew how to attract their potentional customers.




 References


Debab, N 2011, ‘Globalization and Privatization: Two Faces One Coin’, International Research Journal Of Finance & Economics, 74, pp. 7-29, Business Source Complete, EBSCOhost, viewed 13 December 2011.

DuBois, S. (n.d.). CCN Money - Global 500. Retrieved 1 12, 2012, from Fortune Magazine: http://money.cnn.com/magazines/fortune/global500/2011/snapshots/2255.html

Walmart. (n.d.). Retrieved 1 12, 2012, from Wamart Corporate: http://walmartstores.com/