Doc- Contemporary Business Issues in a Globalized Environment
Added on -2020-11-23
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CONTEMPORARY BUSINESS ISSUES IN A GLOBALIZED ENVIRONMENT
TABLE OF CONTENTS INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 REFERENCES................................................................................................................................8
ESSAY TOPIC- Analyzing how Globalisation has influenced an individual and a firm or an Organisation INTRODUCTION The increasing pace of globalization and its effect on the environment has been a major global concern for people. Globalization has a huge influence on the businesses as well as it aids in enhancing the overall level of global outcome.Globalization should be observed to affect the allocation of income along with its level. This has also affected the economic growth of the country. Present report will talk about the effect of globalization in an individual and on its organization. This report will discuss about the impact of this process on easy Jet which works in aviation sectors of the transport industry in United Kingdom MAIN BODY. Globalization is a process which is used to represent the worldwide interaction of trade, IT, investment, and valuesthat is performing internationally. Various governmental policies which is being designed for the development of economies domestically and internationally for raisingthe livinglevelof their citizens.With the help of globalization, company can gain benefits in terms of reduced operating cost, availability of wide range of raw materials and opportunityfrom additionalmarkets(Giddens, 2018). For example,a car manufacturing company canproducethem through fromvariousemerging countries and can import the same so that it can be assemble and selling of final product can be done in that market. This will help them in earning a good revenue from their business.Through globalization, company is able to take advantage of low cost production by using the labor of cheap wage country. There are basically three key factors which plays an important role in the process of globalization, such as, international finance, multinational production and internationally trading. These three components can affect this process, for example, there are various policies of government which can affect the movement of the products forcross-border.They possess the competency to regulate multi-nationalization of manufacturing process as well.Technology is considered as key driver of globalization aswith the development in technology, exponential rise in benefits of globalisation is attained. Development in the field of IT and through free flow of information across borders has led to increase in awareness among people. Technological advancement aids in boosting the digitalization and supported in implying and accelerating thetransfer ofcommercial assetsamong economies(Hirst, Thompson and Bromley, 2015). In 1
transport industry, there are various sectors which is being operated successfully with the help of globalisation.Thesectorcoverswideaspectsincludingtrafficmanagement,vehicle manufacturing, passenger, supply chain management, retail, transport and transport planning. Evolution of the airline is an instance that aids in building alliances and global strategies for the coming future(Baylis, Smith and Owens, 2017). EasyJet Airlinewhich is a British low-cost carrier operatesin both, domestic and internationalaswell.It usuallyregulatesitsbusiness operationsat both domesticand international level. Aviation is analysed as continuous growing sector and it has provided major contribution towards social, political and economic growth of country. One of the most important globalization impacts on the aviation industry was of Brexit.The major influence of globalisation within its various manifestations are completely identified for the international aviation industry.The effect ofBrexit is profound on global aviation company(Onah, 2018). Positive Impact of Globalization on transport Industry Due to globalization, there are some positive impacts also on the transport sector specially on aviation industry, such as, GlobalMarket: Globalization helps in improving the global marketing in transport industry.It has also resulted in introduced and regulation of various international corporations which are providing aviation services. Due to this, most of the companies in transport sector is increasing their consumer demands. Due to the increase in global market it helps in the expansion of the business as well which will give them a trade internationally. Competition: This process has also increased the competitions among companies that are operating in the same transport sector in order to stay in top positions in industry. It has given rise to competitive analysis which is very important for the industry to come up with new and innovative ideas to attract more customers (Steger, 2017). Culture: Globalizationhave positive effect on the culture. However, there is not particular culture which consists of all better practices. The welcoming of people from different backgrounds and civilizations has resulted in the formulation of new cultures, hence it leads to societal growth.Interacting with different people has given huge scope to increase their knowledge and also help in building a healthy relationship with them which will improve their business as well. 2
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