Globalization And Strategic Management

Globalization and Strategic Management Name: Institution: Course: Date: Globalization and Strategic Management Globalization has been one of the most influential developments in the business arena and the global economy (Elkatawneh, 2014). One of the ways that it has impacted strategic management planning is with reference to companies expanding their markets to cover emerging markets. Quite a number of American companies, for example, have opened up branches in the Chinese markets to try and capitalize on the growth of their clientele and profit margins. At the same time, there is also the element of outsourcing labor and raw materials in other countries. In the case of the American companies, for example, they have been keen on the high cost of labor in the country and as such they get some of the services and raw materials handled in other countries such as China where they can reduce the costs. In the case of the raw materials, companies establish international relations with countries and regions that ...