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The Globalization of Markets, Levitt, 1983                 2
The Globalization of Markets, Levitt, 1983
The Globalization of Markets, Levitt, 1983
One of Levitt's many works that had a significant impact on the corporate world was his 1983 paper on globalization. The author looks at the phenomena of globalization to emphasize how big businesses that operate globally have qualitatively changed from seeing the world as a collection of different marketplaces to seeing it as one single market. The markets are becoming more global as a result of this change. In order to demonstrate this, Levitt contrasts what he refers to as global corporations with multinational firms. Multinational firms that operate in numerous nations customize their rules, methods, goods, and services to fit the unique needs of each nation.
For global organizations, it is assumed that people have various needs and wants around the world, which is why it takes a lot of work to identify local needs and provide them....