Business Studies, asked by sajiakkara, 1 year ago

Differentiate between globalization and privatization in 400 words

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Answered by rockstar24h
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Globalization and privatization

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Published: Tue, 18 Apr 2017

INTRODUCTION

In the present era of globalization and privatization, the only word presumed to be constant is the word ‘change’. Globalization has reached all the nooks and cranny of the world, showing positive effects and remarkable developments and innovation especially in the communication and technology field, it can be seen that the tricks of the trade are changing very fast. The development of communication and technology has definitely made the world much smaller and brought it within the boundary of our living room. However, the most beneficial has been the evolution of internet. Internet and its allied services have really done wonders in almost every aspect of life. The commercial world has benefited the most from the rise of the internet. It can be said that the internet covers almost all the aspects of life. The online aspects have really made the financial world much better place to be it. Among the various financial sub-sectors, the commercial banks are the most important. And the introduction of internet in the daily operation of such financial banks have made the transaction all the more beneficial for all the concerned parties be it the valued customers, the commercial bank, government or the monetary authority be it the media.

It is against this backdrop that we throw some light on the performance of the leading four banks of the United Kingdom; NatWest Bank, Barclays Bank, HSBC and Lloyds Bank, with respect to online banking and the perception of the customers. At the outset, the report sheds light on online banking and the four banks and their brief history and present status (see: Appendix A). At the next level, the various features of the online banking provided by the financial companies are analyzed. The report subsequently deals with the research objectives, the methodology, and the research findings with respect to online banking. The report also has certain recommendations, thereafter, the concluding words.

The online/Internet Banking

Internet banking is a time saver, instead of going into the bank for transactions, you can easily do it on the internet. (R3)

The internet banking is the call of the hour. 

Answered by vchilongo
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Answer:

  • Globalization is the process of increasing the liberal market for goods, services and information this can be both Public and private function depending on the provider of the goods, services and information.
  • On the other hand privatization is the process of making the the government won enterprises to be a private sector property.

Globalization has got the following advantages

  • It leads to increase rate of production and hence large production which leads to high rate of income hence rising of the living standard of a people.

  • Privatization on the other hand leads to provision of better services as individuals are busy in providing goods, services and information for the business gain hence they are more concerned with the nature of the business and the cause of the products that are provided for.

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