International Business
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Wipro is an extremely efficient and profitable company that creates and provides comprehensive IT solutions and services to businesses and organizations throughout the world. In addition to being successful in regard to their customers, Wipro has been a huge hit with their partners, over the years earning numerous awards such as the Riverbed Partner of the year 2007 award and National Partner of the Year 2007 Award from Microsoft.
In order to provide the very best technology products and services, Wipro has developed long term relationships with dozens of the worlds top companies. By having so many partners in different or even comparable areas of expertise, Wipro is able to offer the best products and services in the industry without having to develop and maintain all of the technology and information themselves, saving time and money. Companies such as Concord Communications Inc, a market leader in solutions that maximize performance and availability of e-business infrastructure, is one of the companies that helps provide performance management, analysis and reporting solutions for telecommunication companies and service providers. The list of strategic alliances goes on and on.
A major advantage to Wipro having all these top class partners is that they dont need to go out and hire or train workers to do their work; their partners already have some of the most competent employees in the world. The ability to pool resources, expertise, and strengths is a huge bonus to having alliances in the manor that Wipro does.
Although there are many advantages to partnerships, businesses can also run into some issues. One disadvantage with having so many partners is that some partners may have different business goals. If something like this arose for Wipro it could pose a major problem. Since they rely on so many partners, if even a few backed out, Wipro would be forced to change up their whole operation and replace partners that in some cases may be irreplaceable. This would cost both time and money.
Another problem that could occur is a difficulty to attract investors should one of the partner companies have an unfortunate public incident. Being linked to a company that is deemed undesirable in the business world can be detrimental to Wipros success. Disputes over money could also arise. Wipro could eventually feel that they are essentially carrying any one of their partners, or a partner could feel that they are providing more in the relationship and not being compensated appropriately.
In a free market economy, goods and services are exchanged between sellers and buyers via privately owned businesses, and prices are determined by the supply and demand. There is no government intervention in the regulation of costs, supply and demand. On the other hand, in a state economy all the goods and services that a country produces are essentially controlled by the government.
The fact that a state economy would stifle growth is no surprise. Capitalism and a market economy encourage private growth and entrepreneurship. Business owners have their future in their own hands, and are free to make as much money as they possibly can within the scope of the law. In a state economy the government is run with a collectivist ideology, and allocates goods and services in a manor that will be for the good of the society. Contrary to this, in a market economy the government encourages vigorous free and far competition between private producers since it helps to stimulate the economy.
A great example of a free market economy is right here in the United States. As a country we award individualism and success, and encourage the ideal that if given the opportunity to freely develop, the marketplace will solve all most problems by its self. We value economic expansion and individual freedom, and this in turn helps our economy be ideal for both business and consumers.
Countries realize that that a state economy impedes their possible growth, and many are starting to make the slow change to a free market. Two examples of these countries are China and Tunisia .Even though is one of the worlds economic powerhouses, it is grouped into the category with much smaller economies, like Tunisia. Both China and Tunisia have started utilizing economic development and reform programs, and have begun to open up their markets and have more influence in the global economy.
Panama and Sweden are two culturally diverse countries. Panamas economy is service-based, heavily weighted toward banking, commerce, tourism, trading and industry because of its key geographic location. Sweden is an export oriented market economy featuring a modern distribution