Changein Global Market
Theglobal market has greatly changed. We have moved from a period whenit was impossible to conduct business in another continent if youwere not there physically, but with growth in invention andinnovation, it has become easy(Galindo & Méndez, 2014).This has been made possible by the advancement in technology, whichhas led to the discovery of sophisticated transport and communicationnetworks(Manyika & Roxburgh, 2011). The Internet has greatly contributed the growth of this market as ithas connected the whole world like a village. In the past, there werecommunication, transport, language and information barriers. Today,we have broken away from these barriers making it possible to do andmonitor businesses globally while seating at your home or an officein Chicago.
Inthe past, there were monopolies in production, but today innovationhas made it possible to have many competitors in the market, andcustomer satisfaction has become a priority (Manyika& Roxburgh, 2011).Shopping can be done online through utilization of MasterCard’s,visa and wire transfers unlike in the past where it had to be aphysical transaction. Credit cards are used to pay for commoditiesunlike in the past where the use of physical money was the norm(Manyika& Roxburgh, 2011).Marketing strategies have also changed from outbound to inbound thisshows the importance of the internet in the global market today. Thegame changer has been the internet, innovation, invention, and thegrowth in infrastructure (Galindo& Méndez, 2014).
Tounderstand how the Christian faith has affected the global market, weneed to comprehend its principles. Christianity is founded onChrist’s teachings, which are grounded in love. Jesus taught thatwe should be honest, humble, kind and love our neighbors as we loveourselves. Thus, it is logical to believe that Christianity shapesethics in the global marketplace(Melé & Sánchez-Runde, 2013).This is because it instills positive moral values in business dealingas people uphold Christian principles. Business people seek to earntheir living righteously without using fraudulent means when they areguided by the Christian golden rule (Melé& Sánchez-Runde, 2013).Also, Christianity teaches about faith, the act of believing insomething unforeseen. Thus, some business people have become greatrisk takers as they do it in faith, believing that they will get apositive result.
Galindo,M. Á., & Méndez. (2014). Entrepreneurship, economic growth, andinnovation: Are feedback effects at work? Journalof Business Research,67(5),825-829. Retrieved fromhttp://www.sciencedirect.com/science/article/pii/S0148296313004220
Manyika,, J.,& Roxburgh, C. (2011). The great transformer: The impact ofthe Internet on economic growth and prosperity. [PDF]. Retrieved fromhttp://www.mckinsey.com/industries/high-tech/our-insights/the-great-transformer
Melé,D., & Sánchez-Runde, C. (2013). Cultural diversity and universalethics in a global world. Journalof Business Ethics,116(4),681–68. Retrieved fromhttp://link.springer.com/article/10.1007/s10551-013-1814-z