Globalization has its own advantages and its disadvantages and it varied from country to country and organization to organization. However, the strategic implications of this phenomenon are huge and organizations can benefit a lot from this scenario. They can easily excel in the market field if certain areas are given importance and they can easily acquire competitive advantage over their rivals through globalization (Wild and Han). The strategic benefits of globalization with respect to corporate organizations are wide and varied and these benefits are stated below:
- Sustainable competitive advantage
Sustainable competitive advantage can be achieved quite easily if an organization is working effectively in globalized environment. If that organization is a low cost operator or it excels in a certain aspect then it can easily attain a sustainable competitive advantage over its competitions. This advantage helps the organization to enlarge its customer base and organizations can implement new modes and policies because of this phenomenon.
- Formulation of long term strategies
Through the effective use of globalization and its policies organizations can easily attain a long term benefit. In globalization competitors have to increase their quality and they have to raise their level and if they won’t then they would wipe out from the competition.
- Facing new challenges
The organizations that are present in the battle field become so experienced because of stiff competition and as result of that they are becoming prone to competition and difficult scenarios.
- Newer policies and management principles
These organizations implement new and modernized policies that are related to the field of management and these policies are applied in the field of globalization. Organization that are able to manage these principles and those who adopt these policies are the one which are successful in both the short and the long run.
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