Global Business: Impact, Strategies, and Culture

Global Business
Aspects

Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
Task 2...............................................................................................................................................3
Local company and its current market.........................................................................................3
Intellectual property rights in globalised economy.....................................................................4
Managing business functions in an international context............................................................4
Impact of national culture in international market......................................................................5
Entry strategies in international market.......................................................................................5
Global strategy for local company...............................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
Appendix..........................................................................................................................................9
Poster...........................................................................................................................................9

Introduction
Global businesses are the companies who operate in more than one country. They
provide their offerings of goods and services to many countries worldwide. They have their
factories of manufacturing their products in other countries (Hampden-Turner and Trompenaars,
2020). This is the main difference between global business and international business that global
business has their factories in other countries where they operate whereas international
companies have their factories in their home country only. They only sell their products to other
countries. Tesco is a chain of supermarkets presented in more than 13 countries. It is founded in
1919 by its founder Jack Cohen; it is headquartered in Hertfordshire, England, UK. They have
more than 7000 stores worldwide. The following report covers impact of globalization on
business, about WTO and its functioning and impact of organisational culture and functions in
international market.
Main Body
Task 2
Local company and its current market
Tesco is an UK based company which is a supermarket chain. It is headquartered in
England, UK. They mainly sell eatable products and groceries items to their customers. Their
targeted audience are household ladies and working professionals who purchase home items on
regular basis. UK has no trade restrictions which means UK based companies can trade easily
without many restrictions from their side. They also have market where customers have high
standard of living which means their customers can pay little high amount also to pay qualitative
products to live life happily (Lane and Maznevski, 2019). They have political stability and their
government make laws in favour of companies to promote their growth for international trade.
UK market is also have high technology so that their companies will produce good qualitative
goods and sells it to their customers for the growth of whole market. In context of competition,
UK market has tough competition and Tesco is dealing in retailing company which is one of the
toughest competitive industries in UK.