These days, it’s not too difficult to think of a number of products and services that are equally marketable in Saint Louis, Shanghai, Sao Palo and Seoul – an Apple iPad, a can of Pepsi, an Intel Microprocessor, a Xerox copier and an LG smart phone, an HP printer. In nearly every industry, being the leader means participating in the global marketplace. According to Atlanta French Translation Services workers, in industries such as the petroleum and mining industry, where large scale production is necessary this has long been the norm. Yet industries in which domestic players succeeding in home markets could ignore global prospects or competitors-the food industry, telecommunications industry, and automotive industries are quickly disappearing. Ford use to complain about General Motors and Chrysler and now they have to compete against Asian and European competitors. In the same way, Boeing use to concentrate on staying ahead of McDonnell Douglas and Lockheed; now it needs to be concerned about Airbus of Europe and Commercial Aircraft Corp. of China. Today, being huge in the United States no longer means you will dominate global markets-in either sales or profit rankings.
Markets undergo the transformation from local to regional and then global for a number of reasons. Some reasons include rising consumer income levels throughout the world, lower cost and improved logistical options, and instant communication in addition to increased awareness and a strong desire of international products. In addition, accurate certified translation services from companies such as The Marketing Analysts have become widely accessible. As all of these actions are taking place, businesses are better prepared to seek growth and penetration in less developed markets and be successful.
The effect of the globalization of companies has had its opponents and proponents. For instance, some economists maintain that a move toward globalization has a benefit of moderating the effects of a U.S. business cycle downturns.