CUSTOMER LED E-BUSINESS

Literature Review

John Gray defines globalization as

the intensification of worldwide social relations which link distant realities in such a way that local happenings are shaped by events occurring miles away and vice versa (Gray , John : p57 . The web definition of globalization is the development of extensive worldwide patterns of economic relationships between nations . In other words globalization is an overall expansion of international economic activity such international trade , international investment , international migration and transfer and exchange of technology among different countries of the world . In short , globalization is the

global integration of markets for goods , services , labor and capital (Web Definition : Globalization ) Globalization refers to the worldwide phenomenon of HYPERLINK "http /en .wikipedia .org /wiki /Technology " \o "Technology " technological , HYPERLINK "http /en .wikipedia .org /wiki /Economics " \o "Economics " economic HYPERLINK "http /en .wikipedia .org /wiki /Politics " \o "Politics political and HYPERLINK "http /en .wikipedia .org /wiki /Culture " \o "Culture " cultural exchanges , brought about by modern communication transportation and legal infrastructure as well as the political choice to consciously open cross-b links in HYPERLINK "http /en .wikipedia .org /wiki /International_trade " \o "International trade " international trade and HYPERLINK "http /en .wikipedia .org /wiki /International_finance " \o "International finance " finance . It is a term used to describe how human beings are becoming more intertwined with each other around the world economically politically , and culturally (Wikipedia Online

Theoretically speaking , globalization is the process which helps create wealth and solidarity , spreads market oriented policies , democratic policies , and individual rights and promotes the well being of billions of people (Lechner , Frank ) With increasing globalization , the concept of marketing products and services and catering to customers has also changed drastically . In today 's day and age , there is no localized or domestic brand of goods . Most products and services today are global and are produced on a mass scale with no specific identification with any single country . Even if national cultures are considered , they are only to gauge and determine customer preferences in to mould the product and /or service accordingly (Gray , John : p67

Globalization is not a new phenomenon . It is merely a new word for an old process . It was initially launched in Europe nearly five centuries ago . However , globalization has really expanded today through the use of technology . Computer technology especially the Internet has played tremendous role in overcoming the previous barriers to globalization Moreover , dismantling of trade barriers and expansion of political and economic power of multinational corporations has also contributed to spreading the wave of globalization (Ellwood , Wayne ) A prime example of globalization is the structure of corporations today . There is no major local corporation anymore . Most large corporations today are transnational . Research indicates that there are approximately 60 ,000 plus transnational corporations today , most of them having developed in the latter half of the last century . Today , there is a global influence on nearly all elements of an organization : from production to finance and to trade (Zhongying , Pang : 2005

The opportunities through globalization are immense especially with the rapid expansion...