By Roxanne Young
The idea of being a “Global Citizen of the World” has been on my mind for the past few months as I transition to returning to the US after spending a semester in France. While abroad I was able to see how many American companies have integrated, quite successfully, into European markets through their obvious market presence. Walking down the main street of my new city, Nice, I passed American corporate giants, such as McDonalds and Sephora, interspersed with European behemoths like Carrefour and BNP Paribas. As these two European companies each garner revenues of over 120,000 million dollars with absolutely no US presence it is clear how possible it is for companies to thrive independently of the US. I see this as both good news for European companies, that they can gain massive revenues without entering the American markets, as well as good news for the US, that they can take their most successful companies and integrate into foreign markets.
As mentioned in the slides, “Marriott is opening a hotel per month in China”. I have an interesting view into the globalization of Marriott as my mother is their Vice President of IT Delivery. In recent years Marriott’s market globalization has taken her on business trips to Bangalore, India, and Manila, in the Philippines. These specific trips were examples of knowledge-driven globalizations. The technology teams my mother was in charge of had outsourced employees to India and the Philippines where the IT skillset was better than that found regionally. This is great for US companies. The best companies rely on the best, most knowledgeable employees, and the companies willing to search abroad for those employees will benefit from innovation and productivity.
BNP Paribas SA. (n.d.). Retrieved July 11, 2017, from https://markets.ft.com/data/equities/tearsheet/financials?s=BNP%3APAR&mhq5j=e2
Carrefour: Our sales. (n.d.). Retrieved July 11, 2017, from http://www.carrefour.com/content/our-sales
Chidamber, S. Globalization [PowerPoint Slides]. Retrieved from https://vimeo.com/mtecheducation/review/73670514/5b693c0da5