Summary and review of journal articles
The aim of this research paper is to find out the common communication language that is used by the businesspeople to do- business being the limitation of the territories.
The method of data collection used in this article was questionnaire survey and related interviews so that information regarding the perceptions of Finnish and Swedish employees concerning the communication cultures and communicative practices in global companies can be accurately obtained. 400 respondents and 31 employees were taken into consideration for data collection. Data are gathered from e-mail survey also with additional 103 respondents among which 52 are Finnish and 51 are Swedish.
It is found that English is the language in which all the businesspeople communicate with each other hassle free. The significance of this article is to present the importance of communication in the global business. This research article also represents some projects that were initiated for developing the communication among two nations, where linguistic differences are there.
The strengths of article is that a huge number of respondents are taken into consideration and the concept of the ELF and BELF are clearly defines along with its significance to proof that English is the one language that is use by global marketers for communication. However, the article suffers the disadvantage of not including the numerical analysis to avoid the biasness of the research result.
I have planned to use the term “Global Communicative Competence”, “The knowhow project” and “Scandinavian”.
The aim of the article is to highlight the significance of global value chains, value creation and capture along with the key roles of global supermarket and the impact of economic crisis on global business.
A literature survey have been conducted in this research paper that represents that in order to process a successful global business, supply chain system has to be effective. Data are collected from the past and present data from the academic publications and organization, who are connected with economic development through global business like- World Trade Organization (WTO), World Bank, International Labor Organization and Organization for Economic Cooperation and Development (OECD)
It is stated that efficient and timely distribution of goods are important in executing the global supply chain effectively. It is also found that governance is the centerpiece of GVC analysis through which the profit and risk distribution according to the capability of a nation that are associated with global business. It is also found that there are three network form of GVC governance- modular, relational and captive.
The strength of the article is that all the sources are authentic and reliable. A framework is developed based on the important international organizations that are liable for economic expansion. The weakness of this article is that no survey has been conducted based on this research topic and all the data used in this study are outdated. Thus, accurate scenario of the position and benefit of global business cannot be precisely drawn.
I have decided to use the key terms of “Global value chain”, “International/Global Purchasing and Outsourcing” and “Market governance”, “Modular governance”, “Relational governanc” and “Captive governance”.
This research projects aims to highlight the main drivers for globalization and also the various characteristics of a small business so that it can expand their business globally.
The data for the research are collected from secondary sources. These secondary data are published by McKinsey and Company. The data are collected from all the government sites and GDP of different nations contributed by small businesses are also collected like- in US, family businesses represent 90% of all business and they contribute 60% of the total GDP for the nation.
It is found from the research that competitive forces and family demands are the push factors that allow a home business to grow globally. In addition to that it is also found that desirable location of the business, networks and alliances and preemptive positions are the ooull factors of the global expansion for small business.
Significance/contribution of the article
The research paper also represents a framework that evaluates global market opportunities and business capabilities. Another importance significance of this research study is that it illustrates the emerging economic and demographic trends that allow any business to prosper. In this article, the factors those are liable for masking a family business to grow globally are highlighted.
The strengths of article are that both the brighter and darker side of global expansion of the home business is provided with evidences and proper explanation. However, the research paper suffer from the disadvantage that no numerical analysis was carried and hence an unbiased accurate results cannot be get that allow a home business to grow in real time.
I have planned to use the terms “Globalization”, “economic and demographic trends”, “small and medium enterprises (SMEs)” ND “The macro imperatives”.
Aronczyk, M., 2013. Branding the nation: The global business of national identity. Oxford University Press.
Gereffi, G. and Lee, J., 2012. Why the world suddenly cares about global supply chains. Journal of supply chain management, 48(3), pp.24-32.
Hill, C.W., Cronk, T. and Wickramasekera, R., 2013. Global business today. McGraw-Hill Education (Australia).
Kankaanranta, A. and Louhiala-Salminen, L., 2013. “What language does global business speak?”-The concept and development of BELF. Ib?rica, (26).
Kose, M.A., Otrok, C. and Prasad, E., 2012. Global business cycles: convergence or decoupling?. International Economic Review, 53(2), pp.511-538.
Okoro, E., 2012. Cross-cultural etiquette and communication in global business: Toward a strategic framework for managing corporate expansion. International journal of business and management, 7(16), p.130.
Patel, V.K., Pieper, T.M. and Hair, J.F., 2012. The global family business: Challenges and drivers for cross-border growth. Business Horizons, 55(3), pp.231-239.
Zellweger, T., Bird, M. and Weber, W., 2015. Global Family Business Index.