What Is a Global Business?
A global business is an organization that carries out its business activities throughout the world. Global business, on the other hand, refers to the exchange of goods and services around the world, according to Inc. Magazine.
A global business or multinational is a company that operates in most countries around the world. While the company may have its headquarters and main operations center in one country, its products and services are used throughout the world. Some examples of global businesses include the Coca-Cola company and Sony Electronics.
One advantage that a global business enjoys is increase in sales and profits. Since the company is able to supply its goods or services throughout the world, it can easily find new markets when the local market is saturated. Another advantage is that such a business is able to reduce dependence on the local markets. If local competition becomes too stiff, the business can always rely on other markets to sell its products or services, notes My Own Business, a website dedicated to how to start and grow a business.
Some of the benefits of a global business is that it is able to employ more people, which means it effectively helps the government deal with unemployment. Another benefit is that consumers are able to easily acquire products that are not produced locally.
