Emerging Issues :Global Markets Ajay K Gupta Managing Director Kamtech Associates Private Limited Jaipur (India)

Companies must be prepared to engage in heightened international competition. They have to be able to negotiate and manage organizations in different cultural settings. They must know how to market their products in different countries Think Globally : Act Globally

International business requires discipline- based frameworks that can adapt to changing markets and be applied by companies based in any country

It may be difficult to escape the conclusion that countries that have chosen to make trade a pillar of economic growth have, indeed, grown more strongly and become more prosperous than those which have chosen to remain behind protective walls. Trade is one of the engines of growth in the economy of a country Some countries have consciously chosen trade as the major vehicle for accelerating growth in their economies. For India, trade is not an end in itself, but a means to economic growth, employment generation and overall national development

Going global was once the exclusive option of established, International firms. Not anymore, as the success of skilled entrepreneurs has given rise to the phrase: Born global.

The phenomenon of the global customer is growing in importance every day and so too is the global-customer-centric organization. The challenge that an organization faces in creating and adding a global customer dimension

In the wake of the globalisation of production, complexity of coordination increases, leading to a decentralization of the coordination tasks from one central procurement function to several interdependent actors working in the production networks. As a consequence, a new type of network actors is emerging, which focus on the integration of production systems, extending managerial reach by localising and differentiating business systems

What exactly is globalization? What does internationalization of markets and competition mean? The meaning, the contents are changing rapidly. "Globalization", we think all the time of international trade. Exports, imports, things like that. But we increasingly see a shift in value generation and consumption. These two aspects are more and more separated. Trade barriers are disappearing, new economic regions, free trade areas are emerging. Most advanced are financial markets where we really have global dimensions. Huge sums of money are cascading around the world.

Globalization is a process. Going from zero to one hundred takes decades for each company. Understanding this process, developing a long-term vision, pursuing it with unrelenting perseverance are key-success factors for global success

The Internet is a driver because it is closely connected to globalization. What does the Internet mean? First, the disappearance of place, time, costs with regard to information. The largest impact is of course in the area of distribution and sales. We call this disintermediation: retailers and the like may disappear. Through the Internet everybody can reach his customers everywhere. The Internet: A Driver of Globalization

The purchasing and the bidding process will go global. Most MNCs and Governments started bidding through the Internet and sometimes they get several hundred proposals from around the world. Price transparency will become total and global. You have the same for airlines, you can book tickets at convenience at your home

The ultiniate challenge of globalization is to change people and corporate cultures. The transition towards globality is both a cognitive and an emotional pilgrimage The Ultimate Challenge

What are the new issues of globalization? We are no longer talking solely of export. Increasing globalization means a struggle for the best global talents, access to global competence centers, relocation of the value chain. New Issues

G1obalization is old - but true globalization is only just starting. If the worst case scenario (that nations and countries build barricades and impede global exchange and trade) does not materialize, globalization will radically change the world in the next two decades. We will not recognize the world in Unlimited Opportunities

The challenges of globalization are rapidly and radically changing. They transcend manufacturing and marketing. Mental globalization, the fight for the best global talent, developing truly international managers, access to global competence centers, reorganization of the value chain are the new names of the games.

The ultimate challenge will be attaining globality - for the individual and the organization. Globality should be the result of globalization. For most of us our nationality is part of our identity. Within ourselves we find prejudices, idiosyncrasies, preferences, habits, values which may collide with the respective constructs of people from other countries or cultural spheres. All of us have to rub off the dents, which cause friction and conflict. The Ultimate Challenge

Create Presence in Virtual World The most important consideration in developing an effective approach to approach international markets is the development of your information system to open to global enquires

Multinational success depended on a company's ability to leverage its home-based strengths to penetrate new markets and develop cost advantages

Get Set Go Global Markets are looking at you, World was never so open for business.