With phrases such as “international business” and “globalization” becoming a 21st-century norm, you may be wondering what is global business and some of the top global business groups in the nation.
You’d be surprised to know that some of the top businesses in the world have annual revenues greater than the Gross Domestic Product of most countries. This article will delve into what a global business is and the top business groups in the world.
Let’s get started!
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What Is Global Business?
A global business has facilities (such as manufacturing and distribution facilities) in several countries. This is not the same as an international company that sells products worldwide but only operates in its own country.
Now that you know the answer to “what is global business?”, let’s explore the top 8 global business companies.
Top 8 Global Business Groups
From e-commerce and tech gadgets to oil and retailing, the world’s largest revenue corporations comprise relatively new, faster-growing, and older, slower-growth industries.
Whatever the case, each corporation is a dominant force in its field. Although each of these companies’ businesses has shifted in response to the Covid-19 pandemic, some continue to prosper owing to their competitive advantage over other companies.
Let us look at the 8 top global business groups.
Wall Mart Inc.
- Net income (TTM): $17.9 billion
- Revenue (TTM): $542.0 billion
Walmart was founded in 1962 and has since evolved to become one of the world’s most prominent global business groups.
The firm owns and runs discount shops, supercenters, local markets, and a ubiquitous internet platform. Walmart sells clothes, textiles, household products, literature, jewelry, beverages and food, medicinal supplies, and automotive equipment.
China Petroleum And Chemical Corp
- Net income(TTM): $11.18 billion
- Revenue (TTM): $401.3 billion
China Petroleum & Chemicals is a global business group that manufactures and distributes a wide range of petrochemical products.
The company’s products encompass petrol, gasoline, kerosene, synthesized rubbers and plastics, aviation fuel, and chemical fertilizers. China Petroleum & Chemical, also known as Sinopec, is one of the world’s leading oil refining, gas, and petrochemical companies. It is run by the Republic of the Union of China’s State Council.
- Net income (TTM): $11.32 billion
- Revenue (TTM): $502.19 billion
By market capitalization, Amazon is indeed the world’s leading online retailer. The company started as an online bookshop and expanded into nearly every retail area.
In addition to selling items through its e-commerce site, Amazon has subsidiaries such as Whole Foods Market and the home security business Ring. Cloud-based computing services, subscription goods like Amazon Prime, and movie streaming are among Amazon’s fastest-growing businesses.
- Net income (TTM): $94.68 billion
- Revenue (TTM): $394.3 billion
Apple creates, manufactures, and sells a wide variety of customer technology products, encompassing smartphones, desktop computers, I-pads, wearable devices, and home entertainment systems.
The company’s most well-known products are the iPhone smartphone series and the Mac computer line. Apple is also developing a rapidly expanding services business, which includes the operation of digital content shops, the sale of streaming video games, and the provision of streaming platforms such as Apple+, a portal for entertainment material.
Toyota Motor Corp
- Net income (TTM): $25.36 billion
- Revenue (TTM): $248.6 billion
Toyota is a giant Japanese auto manufacturer that produces, distributes, leases, and services passenger automobiles, trucks, and buses worldwide.
In addition, the firm offers components and equipment and provides financing. Aside from its primary business, Toyota creates innovative transportation systems that use cruise control and automated payment systems and constructs pleasure boats and residences.
PetroChina Co. Ltd
- The Net income (TTM): $ $14.52 billion
- Revenue (TTM): $480.69 billion
PetroChina is an oil and gas firm involved in oil exploration, production, manufacturing, and sales, and it also produces petrochemical products. PetroChina is the exchange-traded company of China National Petroleum Corp.
Berkshire Hathaway Inc.
- Net income (TTM): $89.8 billion
- Revenue (TTM): $276.1 billion
Berkshire Hathaway is a diverse holding company that owns several businesses across a wide range of industries and industries. Among them are insurance, energy generating, rail freight transportation, retailing, and manufacturing firms. In addition, the corporation has a sizable portfolio of stock securities and derivatives.
Royal Dutch Shell PLC
- Net income (TTM): $20.6 billion
- Revenue (TTM): $261.5 billion
Royal Dutch Shell, headquartered in the Netherlands, researches, produces, and refines oil through its subsidiary businesses. Shell manufactures and sells gasoline, lubricant, and other chemicals in addition to running gas stations worldwide.
Although most of the top global business groups operate in different fields, one thing in common is strong and determined leadership that is not afraid to explore new boundaries and innovate to continue growing.