Role of Business

A product that I am familiar with that I will use to access global markets (hypothetically!) will be shoes. I think the first thing I will have to do is determine the reason I need to go globally with my service of selling shoes. Number one reason would be more profit, profit for me, profit for shareholders and profit for my employees if I have any. Going globally would also mean I would not have to rely on domestic sales and I could really diversify my product for different parts of the world. Shoe business that will go globally would require a deep knowledge of the competition of the market you want to be in and if I would produce my shoes overseas or here in the USA. If done correctly profits could start appearing faster than you think but you have to go “all in” if a decision to go globally is made. A primary concern about doing business overseas has to be getting paid. There are many ways to get paid overseas for a business: Payment in Advance, Letters of Credit, Documentary Collection, Consignment, and Open account. Payment in Advance has to be the optimal option because the money is upfront. A precaution of course is that this method is usually only available when partial payments are involved.

An organization in which I am familiar with to discuss the organization’s level of social responsibility on a stakeholder is Wal-Mart and the stakeholder will be the customers. Wal-Mart has many stakeholders: customers, employees, suppliers, and the community. We all know for a company to be successful the employee should be the “MVP” of stakeholders for a company to really succeed. Wal-Mart does it a little differently and puts the customer first.