World economy Essay Example | Topics and Well Written Essays - 1000 words

World economy - Essay ExampleAnd then, it skill manifest effective for the organization to present varied types of inventive products as per the requirements of the customers thereby amplifying the brand control and productivity of the organization in the market among other rival players.Moreoer, in order to enhance the take of reliability and loyalty of the customers over a brand, customer retention is also extremely essential. It might prove effective in enhancing the brand value of the organization thereby amplifying its level of competitiveness to a sure extent in the future come along among other players.Globalization is described as the process to force out towards a more integrated and inter-reliant economy. This is mainly due to certain key environmental factors such as competitiveness, market trends, technology, political and economic scenario.Competitiveness- it is denoted as another vital environmental driver that offered significant impacts over the profitability of the organizations operating in diverse segments. Therefore, in order to cope up with such challenges, upper limit extent of the organizations decided to offer varied types of inventive products to retain its brand image and customer beastly for longer period of time.Economic downturn- it is also another factor that offered a negative impact over the functions and operations of the organizations. As a result, in order to survive, most of the organization implemented the strategy of presenting value-added products at lowest possible price. So that, it might be used by the individual of varying age groups, religions, living standards and life style. Only then, the level of turnover and profitability of the organization might get compound with a significant extent in the future era as well. Thus, from the above paragraph, it might be analyzed that globalization makes nation-states more inter-dependent over one another, i.e. more integrated into a global economy (World Trade Organi zation, 2008).Technology- introduction of varied