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When people talk about globalization in economics, they often mean conglomerates that occupy a considerable market share. However, there is the second category of companies that are usually smaller and do not follow the traditional path of development. The purpose of this essay is to evaluate the so-called Born Global companies, explore their differences and analyze the benefits of the methods they use.
First of all, the critical difference between traditional companies and organizations of this type is the market’s focus. Typical enterprises are formed with the expectation of the nearest market. However, companies that initially focus on the global market are entirely subject to this concept. The implementation of this approach is only possible thanks to modern technologies, such as the Internet. Thanks to technology, there is no need for a large team since various automation possibilities exist. Finally, the technological ability to find the right customer without being tied to the nearest market allows creating more unique products.
These differences have several advantages at once, which allow such companies to realize themselves in the world market. First, due to a well-defined concept and an initial understanding of the company’s orientation, organizational activities in interacting with the global economic community can be established more efficiently. While traditional companies need to restructure their work principles to meet the worldwide market requirements, initially multinational companies do not have this problem. Second, the widespread use of modern technology puts companies in a better position over those who use predominantly traditional methods. A high degree of digitalization is significant in the international market since it reduces delays in the transfer of goods or information.
A small staff allows acting more mobile and ambitious, which is also extremely important in globalization. Large traditional corporations are slow to react, small multinationals can carve out a profitable niche and attract customers. Finally, the domestic market’s lack of dependence allows creating unique products with a guaranteed customer. It doesn’t matter where exactly it is located, but even if a product of this type is not needed in the local market, this does not mean that it is not required anywhere.
Thus, companies initially targeting an international market have many advantages over the traditional development path. Therefore, this way of doing business is advantageous and deserves attention and detailed consideration.
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