positive and negative factors of globalization
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Answer:
Business management is the act of getting people together to accomplish desired goals and objectives. Globalization in short, points to the whole effort towards making the world global community as a one village. Globalization on business management is interconnection of international markets and managing businesses in a global industry. This includes foreign investments whereby a company expands its business and invest in foreign countries.
Globalization makes business management easier and efficient for the company.
Based on my research, Globalization simplifies business management in the world. This is due to the advancement in technology, transport, communication, education, and regulations of trade that makes trade fair to all parties. This attracts more people to engage in international business and international trade. Managers within the global face a lot of challenges due to high competition in the industry, good decisions must be made in order to satisfy and maintain their customers and attract more customers for their products. Companies enjoy economies of scale in the business due to reduction of cost in the management.
This report explores a range of interlinking questions, starting with what is globalization, what are the effects of globalization in developing countries and developed countries, this is in terms of positive and negative effects. Globalization is something that affects all of us, no matter what our profession or interest is.
Globalization is a very wide and a very important focus of discussion. I spent time researching what it is and the effects it has in developed countries and developing countries. So in this report I will define what globalization is and the effects according based on my research. Globalization despite having benefits to the world, it also has a negative effects of it.
INTRODUCTION.
Globalization in short, points to the whole effort towards making the world global community as a one village. Goods that were only found in western countries can now be found across the globe. Now under developed areas can enjoy the benefits of scientific advances and industrial progress available in developed countries for the improvement and growth of their areas.
Because of globalization the economies of the world are being increasingly integrated, example mobile phones and internet have brought people closer. The world is becoming a smaller place. Work can be outsourced to any part of the world that has an internet connection because of improvements in traffic infrastructure one is able to reach one’s destination in a short time.
Globalization can also be defined as an ongoing process by which regional economies, societies and cultures have become integrated through a globe-spanning network of communication and trade. The process of globalization includes a number of factors which are rapid technology developments that make global communications possible, political developments such as the fall of communism, and transportation developments that make traveling faster and more frequent. These produce greater development opportunities for companies with the opening up of additional markets, allow greater customer harmonization as a result of the increase in shared cultural values, and provide a superior competitive position with lower operating costs in other countries and access to new raw materials, resources, and investment opportunities.
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What are Some Advantages of Globalization?
Researchers have concluded various positive effects of globalization which some developed countries enjoy today. It’s hard to encounter each of them, but let’s focus on some essential points.
Global Market
Among all effects of globalization, this one is beneficial. It means encouraging nations to specialize and produce plenty of goods available in their local market. Different countries produce different products and what is most surprising there is no country which is self-sufficient. Some countries with developed economies don’t have enough raw materials for their factories, while the rest accumulate costs more than it should. Worldwide integration has led the way to cheap raw materials. Now states can purchase them and produce low price products with a good profit.
Developed countries advertise for the low-income community to buy their products with compatible prices. They also sell goods to developing countries because they are affordable. They are supposed to promote the economic growth of the country from where they buy their raw materials as they invest their money overseas by building industries to produce cheap goods.
The larger the market, the more the returns. This concept has extended businesses in developed countries. They have also expanded by acquiring companies in developing countries, partnering and merging with others to reach out to a big market and produce cheaper goods due to the availability of materials and labor. Availability of cross-border market encourages companies from developed countries to create various goods because they have consumers worldwide. Some of them produce vehicles, other clothes or foods. There are a range of products invented in developed countries and sold elsewhere.