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1. Is Ted Levitt’s Premise on Globalization and Standardization Correct?

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International Business
Assignment 3

1. Is Ted Levitt’s premise on Globalization and standardization correct?
Based on the two major industries that he is comparing such as multi-national versus global corporations, Ted Levitt's premise on Globalization and Standardization are correct. At some Standardization is prevailing to be a better option for business and consumers than Globalization and in certain aspects Globalization is a prevailing factor. For example, the definition of standardization in terms of operating a business with its products or services is to decrease the cost of production as well as price of the product or service and at the same time provide a high quality of that product to make it a standardized product in order for consumer to take interest in your company. On the other hand, Globalization is more of a Model-T that was created by Henry Ford, that an industry should serve the taste and interest of different people around the world, based on their idea of necessity of certain things in life. In some aspect it is a genuine matter that consumers would be interested in buying what is necessary in their daily lifestyle, however, industries are required to view the bigger picture from a standardization aspect. Standardization view suggests that with low cost and high marketing value, consumers can be attracted to purchase your product. 2. Are firms being forced to globalize (become multi-nationals) due to market pressures regardless of preference
The company grows in exponentially when an industry is global and it offers the products at a lower cost. The company reaches the industry in international markets with ease in order to reach public's interests and marketing the way into their home in order for them to purchase the product. The overall strategy of standardization is not only to reach consumers with different tastes around

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