Contemporary Business Issues in a Globalized Environment

Contemporary Business Issues in a Globalized Environment
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Table of Contents
Introduction..............................................................................................................................................................3
Discussion of the Globalization...............................................................................................................................3
Conclusion...............................................................................................................................................................8
References................................................................................................................................................................9
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Introduction
Various concurrent business issues in the globalized environments determine varying number of external
factors, which affects the operations and strategies of a business. It enables all the delegates to establish critical
awareness of implications of those factors. This also facilitates the development of practical and academic
understanding of operational and strategic implications specifically for the business organizations. Delegates
with varying kinds of opportunities are provided in order to develop several most significant skills of problem
solving and analysis for use inside the organisation. Here, in this present study, globalization has been discussed
briefly. How this globalization can affect the business organizations, and their concurrent business issues are
also mentioned in this chapter. This essay has shed lights on three environmental factors and how these affect
contemporary business problems.
Discussion of the Globalization
Globalization is the enhancing interaction of countries, states, and people along with the growth of international
money flow, culture and ideas. Globalization is initially the economic integration process with cultural and
social aspects. It includes various economic resources, goods and services, data, and technology. Globalization
leaves huge impacts on the business organisation. According to Scherer, 2014, global business conduction has
always leaves a great impact on both financial and pleasurable experiences. The ability of international
business conduction is too much necessary to compete with the several competitive business markets worldwide
(Dunning, 2014).
Expansion of geographic footprints in one business has the risky and expensive propositions. In current years,
globalization has softened the free trade, national borders that in turn enhanced the integration of current
economy. It also affects the revolution of communication and information (Malm and Hornborg, 2014).
Furthermore, based on the innovation’s culture, the new economy has been developed that involves new
technologies, new ideas and new initiatives. Economic development and growth of the new economy are
preceded by a difficult structural realignment of business enterprise cluster, investment streams, production
process transformation and adoption of the approach of niche marketing. This results in fundamental
restructuring of the economic society. Innovation acts as a catalyst and its role drives the economic growth that
surely required to be acknowledged (Kasemsap, 2014). Globalization affects most of the developed as well as
developing countries and as a result, the following results have been identified.
 Competition has been increased: one of the most important benefits of globalization is, ‘enhanced
competition’. With increasing competition from different foreign companies and brands throughout the
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