| The emerging markets in areas such as Asia | | | | service and information technology functions. |
| and Latin America, offer new opportunities | | | | Therefore, they have decreased their own |
| for companies to expand their client base, | | | | costs and also brought job stability and |
| their influence and their revenue. In the | | | | opportunity to an emerging nation. |
| past few decades the news has been filled | | | | |
| with stories of many well-known companies | | | | People are more mobile than they ever were |
| making the transition to the global | | | | before and with increased communication comes |
| marketplace. From Disney's initially | | | | an understanding and desire to take advantage |
| unsuccessful expansion into Europe to | | | | of opportunities. These same workers in India |
| McDonalds taking the East by storm, there are | | | | are more educated and have a greater |
| numerous examples of companies taking their | | | | understanding of the opportunities that are |
| products and services and marketing them in | | | | possible with their education and experience. |
| the global marketplace. There are several | | | | Education has become a commodity as skilled |
| reasons why companies have chosen to expand | | | | workers are needed at lower prices in order |
| their operations and seek markets | | | | for international companies to increase the |
| internationally. | | | | bottom line. |
| | | | |
| Our world is getting smaller. The idea of a | | | | The decreased cost of transportation is a |
| global marketplace has become more | | | | major factor behind the increased mobility of |
| conceivable with the advent of technology, | | | | people and products. The decline of shipping |
| the ease of travel and transportation, and | | | | and transportation costs worldwide has made |
| the increased ability to communicate across | | | | these costs negligible for companies to |
| various channels. Information that previously | | | | distribute their products in a global |
| would have taken days to communicate can now | | | | marketplace. In terms of people and their |
| be communicated instantly. The increased | | | | ability to travel, the global marketplace has |
| popularity of the Internet has also | | | | opened up these opportunities, but also made |
| revolutionized global business. Using tools | | | | the costs feasible for those who live in |
| such as email, teleconferencing and | | | | emerging nations to travel to where the jobs |
| videoconferencing allows companies to | | | | and opportunities are plentiful. |
| communicate with subsidiaries overseas in the | | | | |
| same manner as they might those that are in | | | | The various driving factors that have allowed |
| the same city. This ease of communication | | | | companies to companies to globalize their |
| makes expansion overseas feasible and | | | | operations have led to a free market that |
| profitable for many international | | | | contributes to greater competition, lower |
| organizations. | | | | prices and more opportunities for those in |
| | | | emerging markets as well as the corporations |
| The advances in technology and increased | | | | that initiate these paradigm shifts. No one |
| communication have been the primary | | | | factor is responsible, but all factors |
| propellant behind the shift from agriculture | | | | combined have contributed to a robust global |
| to industrial products in emerging nations. | | | | marketplace providing a ripe feeding ground |
| Companies able to capitalize on this fact | | | | for any company that chooses to make that |
| have been able to utilize the resources of | | | | foray into the global marketplace. |
| the countries that they enter to their | | | | |
| advantage. Using both human capital and | | | | International conglomerates such as Wal-Mart |
| increased technology, acknowledging this | | | | and McDonalds have shown that this process is |
| shift has allowed many US companies to take | | | | profitable and advantageous given the right |
| advantage of the market conditions in India. | | | | conditions and use of due diligence. The |
| By understanding the shift in the workforce | | | | most important notion may be to become an |
| where the primary motivating factor is for | | | | organization that uses these driving factors |
| educated professionals to utilize their | | | | to its own advantage and does not become a |
| skills in a more conducive environment has | | | | victim of market conditions. |
| allowed US companies to expand their customer | | | | |