Researching Diversity Programs of Companies

Researching Diversity Programs of Companies Author’s Name: Institution: Date: Introduction Globalization is process where business organizations venture into international markets or develop influence in the international markets. According to Van Rossum (2017), the current rate of globalizing in business is faster than ever. Van Rossum further maintains that venturing into the international market comes with innumerable benefits which include but are not limited to the increased customer base, reduced costs, diversification of the portfolio, and increased potential opportunities for expanding the market. Examples of companies which are successfully globalizing and outsourcing include Microsoft, Mitsubishi Chemical, and Abbott. Importance of Globalization According to Justin Kuepper (2018), globalizing and outsourcing has enabled the above companies to tap into the foreign direct investment which has in return boosted the growth and diversification of global companies, and enhanced transfer of technology. Secondly, globalization has enabled the companies to make use of economies of scale, which is a technique that helps to reduce prices and costs of producing goods and services (Kuepper, 2018). Stacy L Pritt (2010) maintains that successfully globalizing companies ensure high levels of interdependence between their operations and locations, adaptation to their new environments, and advanced levels of communication. What other organizations can learn from these examples Other companies can learn from these organizations’ ways of coordinating their activities, implementation of policies and codes which surpass ethnic and cultural bounders and embracing of technological advancements. Challenges of Globalization On the other hand, some companies such as Hailo, a U.K.-based taxi finding application, Starbucks, and Best Buy have failed to globalize and outso...