The current era of the business scenario is the heavily depended on globalization. This is due to the reason that, in the current business scenario, majority of the countries are depended on each other in terms of trading and business (Scott et al., 2015). Globalization refers to the phenomenon of compressing the world in one single state, where every aspect will be considered for the entire world. Moreover, with the emergence of intense competition in the domestic market, it is also important for the domestic business organizations to enter in foreign market to increase their market share and presence (Asici, 2013). However, with the initiation of the globalization, there are various challenges that will be faced by Doughnut bakery. Thus, it is important for them to identify the issues to be faced from the globalization and effectively resolve them.
Doughnut bakery is based in Australia and thus in order to tap the opportunities of globalization; they will have to enter in other countries. However, in order to do so, they will have to consider various factors in terms of their internal resources to initiate the process of globalization. This report will discuss about the potential challenges and opportunities to be gained by them through the initiation of the globalization. Moreover, recommendations will also be discussed in this report in accordance to the identified issues.
Conclusion
Therefore, from the above discussion, it can be concluded that, Doughnut bakery will face both challenges and opportunities from the initiation of the concept of globalization. This report has discussed various issues and opportunities for Doughnut bakery from the emergence of globalization. It is being identified that, they will have the huge market opportunity from the initiation of globalization. This is mainly due to the reason that, entering in the global market will automatically enhance the customer base. On the other hand, this report also identified one key challenge to be faced by them, which is operating in different and diverse political and legal environment in the global market. This report concludes that, Doughnut bakery will face the challenge of adhering to different legal and political rules and regulations in different countries. In accordance to the identified issues, there are various recommended steps are also being discussed in this report. It is being expected that, the effective implementation of the recommended steps will help them to improve their business operation.
References
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