The main feature of the modern economy is globalization. Everyone knows what it is, but no one has really seen it. However, economic globalization is obvious to everyone. Today, the whole world undergoes this process. Even small and medium-sized businesses are willingly or unwillingly confronted with the problems of inter-ethnic business relationships. They are involved in purchasing equipment and raw materials as well as in other trade-purchasing activity, search for partners or investors. They face direct competition on its own domestic market by multinational companies, yield producer in the international arena, etc. (Anon, 2013).
Global business is based on the possibility of benefiting from the advantages of cross-country business operations such as generating sales of products in another country, or by establishing or outsourcing manufacturing to another country, or providing services across the borders (Satterlee, 2009). Global business provides the involved parties more benefits than they would have when conducting business only in their own countries.
The article written by Chibba (2013) describes different aspects of global business and its performance. First of all, the author relies on the fact that the rightly stated mission of the company is a key driver of a company’s development. It is the inspiration and the everyday reminder on where the company is going. The author also points out that the rules, regulations, guidelines, mechanism and procedures are main components of the company’s policy and strategy. Therefore, it is rather important for global business to set the strict policies and strategies, which will show whether the company develops right or needs some changes. It will allow the company not to lose in the global market.
Article written by Demattia describes the approaches to understanding global business opportunities and where to search for them. The main opportunities that author stresses are investing in the processes, tools and training to improve productivity; investing in IT; introducing innovations in products, services and operations; providing for demand growth in the emerging markets businesses; investing in “green” technologies (Demattia, 2013). The last opportunity is under a great discussion all over the world. The “going green” is one of the most popular strategies for global business.