Unit 18: Global Business Environment PDF

ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 5 HND Diploma in Business
Unit number and title Unit 18: Global Business Environment (530)
Submission date 9/12/2021 Date received (1st submission)
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Contents
I. Introduction......................................................................................................................... 3
II. Main Body.......................................................................................................................... 3
1. Define the concept globalization in terms of different dimensions......................................3
2. Discuss key drivers affecting a specific industry to go globalization based on Yip’s model.4
3. Explain the complexity of strategic challenges faced by organizations when operating in a
global environment................................................................................................................. 6
III. Conclusion...................................................................................................................... 10
Reference:............................................................................................................................. 11
I. Introduction.
There was a time when consumers only had access to goods and services that were available
locally. Their choices were limited by what they could access on foot, by horse, or by carriage. This is
still the case for many people around the world, and in rural and remote parts of the U.S., it is still
necessary for families to make weekly trips to town to stock up on food, household items and other
necessities. However, with the rise of Internet-based business, there has been an explosion of
international trade, and more and more consumers essentially have the world at their door. Of course,
international trade is not just a twentieth-century phenomenon. Trade across borders and between
cultures has been a feature of human civilization for centuries— there is evidence of this dating back
as far as the nineteenth century BCE. The Silk Road, one of the best-known and most enduring
“international” trade routes, began sometime around 200 BCE and for centuries was central to cultural
interaction from China through regions of the Asian continent all the way to the Mediterranean Sea. In
Viet Nam, as an investment-consulting intern, I was tasked with supporting my team in preparing a
report for a possible Vietnamese customer that examined the influence of globalization and its
dynamics on the local car sector as an issue. This will persuade potential all of partners to cooperate
with Vietnamese companies to expand their operations.
II. Main Body.
1. Define the concept globalization in terms of different dimensions.
 Globalization:

Globalization means the speedup of movements and exchanges (of human beings, goods, and
services, capital, technologies or cultural practices) all over the planet. One of the effects of
globalization is that it promotes and increases interactions between different regions and populations
around the globe.
 Economic:
Economic globalization includes many processes, opportunities and problems related to the spillover
of economic activities among countries of the world, or the establishment of a trading system among
the participating party’s transnational countries such as businesses or non-governmental organizations
is called economic globalization Example: the development of trade systems within transnational
actors such as corporations or NGOs
 Cultural:
Refers to the process by which one culture's experiences, values, and ideas are disseminated
throughout the world through various means. We will explore some examples of cultural
globalization, the factors that influence it, and its effects throughout the world. Example: You may
have noticed that every place has some things that are the same as your hometown, such as fast food
restaurants like McDonald's or Levi jeans being sold in a local store.
 Political:
Political globalization refers to the growth of the worldwide political system, both in size and
complexity. That system includes national governments, their governmental and intergovernmental
organizations as well as government-independent elements of global civil society such as international
non-governmental organizations and social movement organizations. One of the key aspects of the
political globalization is the declining importance of the nation-state and the rise of other actors on the
political scene. Example: the development and growing influence of international organizations such
as the UN or WHO means governmental action takes place at an international level. There are other
bodies operating a global level such as NGOs like Doctors without borders or Oxfam.
 Social:
Social globalization refers to the sharing of ideas and information between and through different
countries. Example: include internationally popular films, books and TV series. The Harry Potter/
Twilight films and books have been successful all over the world, making the characters featured
globally recognizable. However, this cultural flow tends to flow from the center (i.e. from developed
countries such as the USA to less developed countries). Social globalizations is often criticized for
eroding cultural differences.