Analysis of Business and Management Issues Thinking Globally, Act Locally- Globalization & the Global Markets It is considered as one of the largest automakers in the world today. Although the company headquarters can be found in Detroit, it employs “209,000 people in every major region in the world.” [1] The company does business in more than 120 countries around the world. Therefore, the impact of a shutdown reverberates around the planet and can severely affect the lives of hundreds of thousands of people. The company has manufacturing facilities in 31 countries. [2] GM demonstrated the importance of thinking locally by immersing itself in the culture of the target market. Part of the goal is to understand the work environment. Aside from thinking locally the company also demonstrated that the local market is important to the company. As a result GM focuses on corporate social responsibility so that the organization can give back to the local community. The company has factories in 31 countries. Responding to Dynamic Business Challenges – Strategically & Operationally The impact of the financial crisis of 2009 can still be felt today. People are wary of purchasing expensive items and this includes cars. There many unemployed people and therefore there are many that cannot afford to buy a new car. Instead of purchasing a brand new car, many opted to use their old cars. Thus, GM cannot expect record breaking sales until the global financial crisis of recent years no longer has an effect on the global economy. The company decided to streamline its operations. The goal is to reduce the overhead cost while increasing revenue. Two of the most important things that occurred in response to the crisis were to fire two CEOs. The first one was fired after the U.S. government initiated a bailout process that prevented GM from filing bankruptcy. The second one was fired while serving for only 6 months as a CEO. The second major change was to acknowledge the fact that the company had to maintain so many models and therefore GM had to retire legendary brands such as the Oldsmobile. [3] GM decided to fire two CEOs, the first one was Rick Wagoner and the second one was Fritz Henderson. [4] Wagoner was fired because during his watch the company had to be bailed out by the U.S. government. It simply means that because of his leadership the company was pushed to the breaking point. Henderson on the other hand was fired because he could not prove that he can engineer a quick turnaround of the company. Henderson had to show that he knows how to stop the heavy losses incurred by the company. But he was unable to impress the board and various stakeholders of GM. Conclusion General Motors is a global brand. The products that came from this company are known all over the planet. The success of the company enabled the corporate leaders to develop a competitive advantage over competing forces. Part of the plan is to think globally and at the same time act locally. Therefore, GM cannot rest on their laurels so to speak because the real power lies in the hands of the stakeholders, not just the main investors and corporate leaders of General Motors. In a highly competitive world it is imperative to do everything t