Globalization of Markets
The article is not that long yet it´s more of a typical “American-star-economist” article by Lewitt in this case meaning that he talks a lot about obvious things and it was rather hard identifying what to bring up. I think you´ll get a hang of the main point here…
Introduction
Lewitt argues for how each company needs to face the world as one big market in contrast to adapting locally. When it comes to the tradeoff between local adaptation and global coordination, Lewitt argues for the latter. A well-managed, company has gone from customizing products to offering advanced, functional, reliable and low priced products. He builds this theory mainly on the fact that technology is bringing the world together by enforcing transports, travel as well as communication. This evolution has created a global market that have made have erased national and regional differences. Lewitt argues that even though people around the world seem to guard their cultural......
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Approximate Word Count: 1105
Approximate Pages: 5 (260 words per double-spaced page) |