What Are The Advantages And Disadvantages Of Globalization

1. Licensing is a mechanism that a firm can use in globalizing. Licensing allows foreign firms to use the design of an original designer that make and sell products in restricted markets. This involves sales of products that are alike but with a new trademark in different countries. A firm expands its market and retain its earrings made in a foreign country through licensing. The products name and logo are the cultural aspects that are considered offensive in a foreign market. The firm has lost its profit, if the profit from the foreign market is less.

2. Increased free trade and communication between nations, along with increased access to technology, media, education, healthcare, consumer goods, and other resources are often considered advantages of globalization. Some disadvantages of globalization include exploitation of developing countries, cultural homogenization, and adverse effects on local economies and the environment. Globalization is a complex

There is great prestige in winning the Baldrige award. Firms that do not win the award but receive a site visit from Baldrige examiners, often include in their company brochures and other promotional material mention of themselves as being "Baldrige Qualified." The Baldrige Award, or even being Baldrige Qualified, helps firms attract high-quality suppliers, customers, and other stakeholders. The attention to quality that being involved in the Baldrige award helps a firm establish a culture of quality and helps a firm rally its employees around quality improvement efforts.

4. Category 3 addresses customer focus. To be successful in serving the customer, firms must understand the product and service attributes that are important to the customer. This is documented as well as how the firm assesses to relative importance of product or service features. The processes for listening to and learning from customers and markets also must be evaluated, improved, and kept current with changing business