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2 pages/≈550 words
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APA
Subject:
Business & Marketing
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Reaction Paper
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English (U.S.)
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Topic:

Globalization of Business and Developing Global Mindset

Reaction Paper Instructions:

GBI Personal Reflection and Building your Global Mindset Paper (Individual)
This paper will be a no more than 5-page reflection on what YOU have learned about:
• the globalization of business operations
o What are the key dynamics underlying the globalization of business? How are these changing? How might they change in the future?
• the unique qualities the business climate of our area of study brings to the global marketplace
o What are the differences and similarities in business norms and practices between the US and the area we studied, both overt and subtle? How representative are these of the wider region we are studying?
• what you will need to do to further develop your global mindset to become an effective global manager.
o What seem to be the personal attributes and managerial competencies necessary for effectiveness and success as a global manager?
o What frameworks or ideas presented during our trip were most beneficial to you to identify strengths and areas of needed improvement for you to become a more effective global manager?
o What will you need to do after this course to achieve your career and life vision?
In preparing your response to this assignment, you should draw from the content of the speakers who presented, the global applied case competition, assigned readings, workshops, and other activities. Connect the insights and lessons that you have derived from the assigned readings to what you actually saw in practice. Discuss both the consistencies and inconsistencies. Integrate all these into a personal reflection on the new knowledge and insights that you have gained about the globalization of business operations.
Refer to the Global Mindset framework found in Appendix B of this syllabus as a way of exploring the various aspects of your global competency and any gaps you may have or want to strengthen.

Reaction Paper Sample Content Preview:

Globalization of the Business
Student's Name
Institution Affiliation
The fundamental dynamics that underline the globalization of the business include technical changes since sustained and rapid technological changes have minimized or reduced the cost of communicating and transmitting the information. The differences in the tax systems affect business globalization because the desire of the organization or business of benefiting from lower units labor costs plus favorable factors from abroad has encouraged many countries in adjusting their tax systems for attracting foreign direct investments hence making several countries start competing between each other to bid in wining lucrative foreign investments projects. Containerization has made the cost of shipping coming down. The lower unit cost in shipping products in the global economy helps bring prices in the manufacturer country close to the export markets, making the market global. The dynamic of globalization is changing every day because every country wants to improve the business. The dynamic factors may change by attracting and motivating customers to trade globally, hence making the countries more social.
The similarities in the business practices and norms between wine brands and the USA include finding moral guidance where they believe in the loss-wine or wine-lose interaction of the business occurring in the global value chain that makes companies operate under cultural value system and multiple jurisdictions (McKinsey). They both focus on how cultural norms influence or affect business strategies, and the relationship expectations were the main ideas to help them understand business norms. The personal relationship is a critical part or component of the business deal and growth. Business relationships should be conducted with friendship, and personal conversations about families are very important in strengthening the relationship. The difference includes that the USA focuses on norm-making in the business while the wine brand focuses on it since it is not straightforward in some companies. The representative focuses on making all the business globally by ensuring all the companies and countries' prac...
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