Question:

The process of globalization has fostered changes in the business environment. This is now inevitable for a businessman to avoid global competition. The successful businessperson in the 21st century will have global awareness and a frame of reference that goes beyond a region or even a country and encompasses the world. Suppose if you are a businessman, what will be your lifelong plan to be globally aware of, for an ensured growth of your business.

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Solution

Today, we are living in a chaotic transition period to a new age defined by global competition, rampant change, faster flow of information and communication, increasing business complexity, and pervasive globalization. The pace of change has become so rapid that it took a different type of firms to be dominant and marked entirely new era of business. This new environment is also characterized by "more far-reaching technological advances, and a consumer who has adjusted to this quicker pace and whose fickle preferences are revised with the speed of a television commercial.

The successful business person in 21st century has to aware about all these changes and make it self to adjust to these changes. If he only think about local competition and ignore the stiff competition from the global competitor he can not survive in this global world of business.

So as a businessman I wanted to aware all the changes in my business field like the technology changes and style of working and quality of the product. In 21st century the economic growth is rapidly and the business field is customer driven and the lice cycle of the product is very short so as a businessman if I cant change my style of business adjusted to these in can not survive in this global business village.

For the awareness about all these changes I can took the benefit the technology like the internet and business magazine and the news channel about the business around the world and the some data published by the companies around the world is helpful to give the new ideas to expand the business.