Impact of Globalization for Siemens Company- myassignmenthelp

Question: Discuss about theImpact of Globalization for Siemens Company. Answer: Globalization, which has been termed as that process where individual countries become less influential in relation to their cross-national bodies, is continuing to make the world a global village. This has impacted on the international community and companies in one way or the other. Siemens, for example, is a multinational organization which offers electrical and electronic devices is greatly affected by globalization in their quest to improve their global market (Stefan, 2006). With headquarters based in Germany, the company aims to dominate the spectrum of electrical and electronic engineering in the world and as such, globalization is a major factor. Therefore, this paper assesses and explains the impacts of globalization and emerging markets on Siemens Company. In the current world, there are several market opportunities that are arising. This has been greatly facilitated by globalization which has not only reformed market policies from the various governments into having a free market economy but also eliminated market barriers (Gregg Rey, 2006). Therefore, Siemens Company has found a leak way to expand its electronic markets to the new emanating markets across the world. Moreover, the transformation has made it possible for the company to access different world markets in the attempts to expand its market share. Considering the electrical and electronic operations of Siemens Enterprise, globalization has manifested a lot in the technology acquisition and advancement. Having operated for several decades, the company is seeking new ways to reduce the cost of production through technological advancements. According to Steger, this leads to quality products to keep its customers on the move (2010). Additionally, there is increased sharing of technological ideas with various companies worldwide. This increases technological innovations and inventions for the companys benefit. The emerging markets are in demand for latest technologies and therefore the Siemens Company also makes tremendous efforts to be updated so as to increase their sales. Globalization, therefore, accelerates the speed of technology transfer and advancement. Hence the company makes good use of this fact and rapidly updates itself so as to capture the customers and market expectations. Further, globalization is a major factor when it comes to competition for the available and emerging markets. There are companies that share a common field of production as the Siemens Company. These companies compete for the market dominance and as such, every company has to keep its game on top so as to succeed. In most cases, competition is usually good due to the fact that it leads to the production of high-quality products for consumers. The customers do have a large multiple of choices and prefer to go for quality and price. Fortunately, competition is even enhanced by globalization and this does affect the operations of Siemens companies in most cases (Burstein and Vogel, 2010). Also, globalization has impacted differently on the diversification of the management structure for the Siemens company profile. The introduction of a global picture has also brought about a new company structure with an aim of serving the world market. There has been decentralization of some managerial offices to different parts of the globe (Gorodnichenko Terrell, 2010). This has made it easy to locally make good use of the companys reputation to maintain the local customers. There are different cultures across the world with different desires or demand. Therefore, having a local management team ensures that the company gets well conversant with the nature of demand required at the locality. Hence, globalization has called for the establishment of several managerial units worldwide so as to effectively communicate with the customers on the ground and provide their desires as expected. Moreover, there has been easy access to cheap labor and raw materials which are a positive impact to the Siemens Company attributed to globalization. For instance, the company set up some retail outlets in the emerging markets in different parts of continents such as Asia, Europe, Australia, and America. As a result, they managed to acquire some cheap but skilled labor force which varied among the locations (Steger, 2010). Also, there were several readily available materials in some continents. Some authors do argue that globalization is a stabilizing factor in the world economy. However, according to the theory of conventional economy, globalization also poses some negative impacts towards the operation of international organizations. The theory further illustrates that the benefits of globalization will be short-lived and the economy will turn against us of the economic downturn extends for a long period and nothing was done for the giant companies like Siemens (Iammarino et al., 2008). Conclusion The Siemens Company has continued to strategize on its production despite being in the industry for several decades. However, much still needs to be done for it to outdoor its competitors and gain adequate stability. As such, the company should be recommended to improve on their level of management coordination, work on their policies and promotions and provide good pay scale to employees. These recommendations will boost the productivity of the company for the better outcome. Reference Stefan Becker, F. (2006). Globalization, curricula reform and the consequences for engineers working in an international company.European Journal of Engineering Education,31(3), 261-272. Burstein, A., Vogel, J. (2010).Globalization, technology, and the skill premium: A quantitative analysis(No. w16459). National Bureau of Economic Research. Gorodnichenko, Y., Svejnar, J., Terrell, K. (2010). Globalization and innovation in emerging markets.American Economic Journal: Macroeconomics,2(2), 194-226. Gregg, F., Rey, H. (2006). Globalization and emerging markets: With or without crash?.The American Economic Review,96(5), 1631-1651. Iammarino, S., Padilla-Prez, R., Von Tunzelmann, N. (2008). Technological capabilities and globallocal interactions: the electronics industry in two Mexican regions.World Development,36(10), 1980-2003. Steger, M. B. (2010).Globalization. John Wiley Sons, Ltd.