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Global Business Environment Solved Assignment (Doc)

   

Added on  2021-02-19

9 Pages2677 Words43 Views
Global Business Environment

Table of ContentsINTRODUCTION...........................................................................................................................1P1 Describing some key factors of Cost, market, environment and competition that driveglobal commerce....................................................................................................................1M1 Critically analyse the impact that key factors have upon the global business environmentin terms of benefits and challenges. ......................................................................................3D1 Critical analysis and evaluation of marketing function and its interrelationship with otherfunctional units in organization..............................................................................................3P2. Strategic challenges faced by Tommy Hilfiger................................................................4M2 Critical analysis of the strategic challenges in context with risk, diversification strategiesand supply chain flow.............................................................................................................5CONCLUSION................................................................................................................................6References........................................................................................................................................7

INTRODUCTIONGlobal environment means that when the business working at global or internationallevel, there are some external as well as internal factor that affect it in negative as well aspositive way. In the same way, report main aim is to describe the global environment of thebusiness. The chosen firm for this report is Tommy Hilfiger which is the top brand of clothing,footwear, accessories and home furnishing at global level. The report will describe the drivers ofthe globalization which affect the commerce in negative way and then presents some challengeswhich the company may face at the time of operating at global level.P1 Describing some key factors of Cost, market, environment and competition that drive globalcommerceWhile operating at global level, the company affected from different factor ofglobalization which are as mention below:Cost: Cost is one of the key factor of globalization that affect Tommy Hilfiger innegative way. The globalization of customer need and the opportunity for the scale bringsfundamentally changes the economics of many industries. It is evaluated that economies of scaleand scope, exploiting differences in factor cost while developing the products is determine as agreater importance of global strategy. But at bottom side, a single market will no longer largeenough that will support the competitive strategy at global level (Ghisellini, Cialani and Ulgiati,2016). On the other side, the new economies of scale and scope shape the strategy in globalindustry, it will be more hard for the new entrant in order to develop the effective competitivethreat. Therefore, the prices of the products of the firm also varies from country to country andthis also change the people's perspective which may cause negative impact upon the business.While, Tommy Hilfiger also changes its price as regional level and even it also usesdifferentiation strategy to stay head in this competition.Market: It is another factor or driver of globalization in which sudden fluctuation themarket or industry affect the business in negative way. Such that multinational companies wantto raise their profit and it also provides an opportunity in order to overcome the barrier. Apartform this, new or advance techniques also affect the market scale into negative way and as aresult, it is essential for the firm to adopt these techniques in order to stay competitive in theworld. High profit and a string market position and market access in the global market also affect1

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