The article by Thompson discusses on the nature of competition inherent in the current global marketplace. First, it emphasizes on developing a long-term strategy. The long-term strategy forms part of the various business concepts needed to build a global business. All companies and startups enterprises have an opportunity to venture in global business (Thompson, Computerworld website). Most importantly, it emphasizes on the impacts of the internet in transforming the markets across the world. Internet has made it easy and simple to expand their business to other regions and countries. The international expansion of companies provided an expansive customer base as well as the opportunity to grow the company’s revenue.
Emerging markets including Brazil and India have helped in growing IT expenditures across the world. However, the business enterprises should be able to understand the nature of cultural backgrounds. This gives the organizational leaders the manner to create relationships and learn the culture of the different countries. In addition, it is important to focus on the global customers. The global customers have different needs and face different challenges. Thus, the article emphasized on a better understanding of the global customers. Not all, it is necessary to select the right management team and network.
In my opinion, the world market place has grown tremendously over the last decade. This has been fueled by increased technology advancements such as the inception of internet. Such technologies allow individuals to enter into international business agreements. I also think it is very difficult to succeed in the global market place without using internet. Most importantly, I support the arguments regarding the global marketplace. For instance, a business should have a strong long-term strategy in order to prosper in the global business.