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Definition

Global Industries

Definition (1):

Global Industries are one in which competition crosses national borders. In fact, it occurs on a worldwide basis. In a global industry, a firm’s strategic one country can be significantly affected by its competitive position in another country. The very rapidly expanding list of global industries includes commercial aircraft, automobiles, mainframe computers, and electronic consumer equipment. Many authorities are convinced that almost all product-oriented industries soon will be global.

Definition (2):

Global Industries refer to industries effectively operating in all or most of the markets all over the world. These industries offer roughly equivalent services or products to customers in each market, and the companies’ competitive positions in these industries depend on performance in all of these markets.

Definition (3):

“In global industries, competitors compete in all markets and offer homogeneous products.”

These industries have various identifiable features. They operate a communication and information technology infrastructure spanning the globe. The services or products the industry offers need little or no changes to serve consumers in all markets. For instance, nail cutters serve a universal requirement and need no changes to sell in almost any market. These industries serve a global market and thus, secure beneficial economies of scale.

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