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 values that is performing internationally. Various governmental policies
which is being designed for the development of economies domestically and internationally for
raising the living level of 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
opportunity from additional markets (Giddens, 2018). For example, a car manufacturing
company can produce them through from various emerging 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 for cross-border. They possess the
competency to regulate multi-nationalization of manufacturing process as well. Technology is
considered as key driver of globalization as with 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
the transfer of commercial assets among economies (Hirst, Thompson and Bromley, 2015). In
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transport industry, there are various sectors which is being operated successfully with the help of
globalisation. The sector covers wide aspects including traffic management, 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 Airline which is a British low-cost carrier operates in both, domestic and
international as well. It usually regulates its business operations at both domestic and
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 of Brexit 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,
Global Market: 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: Globalization have 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.
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