Important Elements to Compete in The Global Marketplace
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| Photo Credit: nmwa.org |
Embracing the key
elements as stated in the articles can help business thrive in the
competitive global marketplace. All the elements are interrelated to one
another for any businesses to strive in the business world. Below are
the examples that I can relate with my company.
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| Photo Credit: www.weldingandgasestoday.org |
Focus on the Customer: My Company is a multinational company where it
spreads its businesses internationally and locally. Customer need and
satisfaction is always the top priority to ensure the successfulness of
the business. It’s vital to know the customer in understanding their
needs and build the products and services accordingly. I understand that
my company is awarded as the number 1 insurance brand in the world
where they are very concerned of their customer needs.
Have the right team and network in place: Every company requires good
leaders and followers that can form good teams and ideas for the
business expansion. The right network of people working in a company can
create a good company culture. Based on events conducted and concerned
for employee welfare, my company did a great job.
Understand Cultural Nuances: Business can survive better if they
focus on understanding the local culture, language and ethics. I’ve
heard a few Malay language (local) words and sentences came from my
company’s CEO who is a French man. As he said, it is vital to be
adaptable to survive and succeed in this world.
Act Local: My company joint venture with a local bank. The joint
venture helps the product and services tackle the local community.
Besides that, it also helps foster the relationship between local
companies, other related local organizations and local markets.
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| Photo Credit: www.tubewater.com |
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