How do look into the businesses determining the future of globalization? In which ways are Multinational companies playing a huge role, and in which ways they can or are supposed to step up more to apply a positive influence on society? Take a real life example of a multinational company and elaborate the above statement with it. Please answer and explanation
Answers
Answer:
Globalization is a term used to describe how countries, people and businesses around the world are becoming more interconnected, as forces like technology, transportation, media, and global finance make it easier for goods, services, ideas and people to cross traditional borders and boundaries. Globalization offers both benefits and challenges. It can provide tremendous opportunity for economic growth to improve the quality of life for many people. It can also lead to challenges with the welfare of workers, economies, and the environment as businesses globalize and shift their operations between countries to take advantage of lower costs of doing business in other world regions.
A real life example of a multinational company
Explanation:
- Multinational companies play a major driving force of globalization and they occupy a central place in international business.
- Walmart is retail industry which is ranked first among the others across the world.
- Walmart is a multinational company with the help of globalisation it started spreading its business to 15 countries and started earning more profits.
- Walmart has a positive influence on society because of its standardized products and the customers have become loyal to the products of walmart.
- Walmart have become major impact of globalization due to its low price.
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How do look into the businesses determining the future of globalization?
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