With the aim of helping businesses adjust to globalization, the 2016 Rockford Finance and Commerce Convention welcomed business owners and stakeholders of both small and medium enterprises. This convention is part of the annual Go Global talks, Stateline’s premier conference on international trade. This convention aims to spread valuable information about the growing demand for globalization and to connect like-minded entrepreneurs and big players in the finance and commerce industry.
What Is Globalization?
In the modern world, technology has given people the chance to communicate and coordinate at unprecedented levels. Globalization seeks to change the world forever, potentially bringing forth a new economic age.
In a nutshell, the phenomenon refers to how local businesses and organizations can now obtain access to the international market, spurred by technological developments in communication and transportation. For example, a garment factory located in only one country now has the option to sell to millions of customers worldwide. A call center firm can now cater to individuals on every inhabited continent. With the prospects of tapping the global market, firms are enticed to increase production and to widen their range of operations.
However, globalization also presents its own set of challenges, especially for the unprepared. Local businesses unable to adapt to the global market face grim prospects, including being blown out of the competition by more agile and more powerful firms.
Addressing The Needs Of Local Businesses
There is a need for small and medium enterprise business owners to learn more about how globalization can affect local businesses. They need to learn about strategies that they can use to take advantage of globalization while protecting themselves from threats wholly. The Go Global conference seeks to address these needs by inviting select business owners and entrepreneurs to share their best strategies on thriving in this competitive business landscape.