EU-Brexit, Globalisation, and Green Business: Impacts and Advantages/Disadvantages

This article explores the impacts and advantages/disadvantages of EU-Brexit, Globalisation, and Green Business on society and businesses. It discusses the impact of EU-Brexit on society, the advantages and disadvantages to businesses, the impact of Globalisation on society, and the advantages and disadvantages of going green for businesses. It also covers the impact of Green Business on society in 2022 and how businesses can benefit from going green.

EU Brexit Globalisation
Green Business

Table of Contents
1. Introduction of EU- Brexit...........................................................................................................3
2. The impacts of the EU- Brexit on society in 2022.................................................................3
3. The advantages & disadvantages to businesses......................................................................3
4. Reflection & Conclusion........................................................................................................4
References........................................................................................................................................5
1. Introduction of Globalisation.......................................................................................................6
4. Reflection & Conclusion........................................................................................................7
1. Introduction of Green Business...................................................................................................9
2. The impacts of Green Business on society in 2022................................................................9
3. The advantages & disadvantages to businesses....................................................................10
4. Reflection & Conclusion......................................................................................................11
References......................................................................................................................................12
5 hidden ways that globalization is changing....................................................................................12

1. Introduction of EU- Brexit
Brexit stands for British exist and the separation of the United Kingdom with the
European Union is called Brexit. European Union is a group of twenty-eight countries that
allows their citizens to move freely between various countries with the aim of working and living
(O'Rourke, 2019). The UK joined the European Economic Community with the goal to bring
economic integration among its member states in the year 1973 and later on, it became a part of
the European Union in the year 1993. Whereas the UK always had always maintained a distance
from the EU, and the political fraternity in Britain always comprised of the people who were
opposed to the idea of the EU. The essay is going to discuss EU-Brexit, its impact on society
with its advantages and disadvantages.
2. The impacts of the EU- Brexit on society in 2022
The economy has slowed down due to Brexit in which the UK left the European Union and the
U.K. is no longer part EU. In its place, it has a trade agreement that allows zero tariffs on goods
traded (Dennison and Geddes, 2018). Now, the free movement has ended between the U.K. and
EU. European nationals already living in the U.K. must make sure they have documents and all
the legal requirements from the U.K. government specifically allowing them to stay. The U.K.
has already suffered a lot from Brexit for example the economy has slowed, and many businesses
have moved their headquarters to the EU. The result was in favor of Brexit in the year 2016 the
United Kingdom European Union membership referendum is one of the most significant political
events for Britain during the 21st century.
3. The advantages & disadvantages to businesses
Advantages
 It brought a sense of freedom with the aim of creating its own trade deals with new
regulations (Adam, 2019). The UK also gives up admission to the single market
and customs union.
 Under the law of the EU, the citizen of another EU nation can decide to move to and live
in the UK with no restrictions. This has led to a large rise in immigration into Britain and
that created many difficulties in fulfilling various needs such as housing and service.
Through a hard Brexit, the UK will now be able to enjoy full control over its borders
(Bogdanor, 2019).

Disadvantages
 Farmers can lose the chances of subsidies and the jobs in the company on the global level
Many economists were not sure about Brexit and they believe that Britain can lose its position in
both the ways that are economically and politically (Whyman and Petrescu, 2020).
 One of the main disadvantages is its damage to the economic growth of the UK
 By being a part of the EU, the United Kingdom gets benefits from trade deals between
the EU and other countries. As an entity, the EU exerts stronger bargaining power as it is
the largest economy as a group. Therefore, by leaving, the UK would lose negotiating
power and free trade with other European countries. As the UK tries to recreate trade
deals with other countries, they may get less favorable results.
 The uncertainty of Brexit also causes unpredictability that affects businesses operating
within the UK. In reference to the case of Brexit, goods and services will be subject to
tariffs that will affect and increase the cost of raw materials into Britain and finished
products in the market.
4. Reflection & Conclusion
From the above analysis, it can be concluded that Brexit has also impact the supply chain as
there are possible chances of delays at the borders and with the additional requirements for
importing goods and components. Companies will be required to keep and hold some inventory
to avoid delays in the products and materials. For example, Honda has already closed its plant in
Britain, whereas Nissan also decided to make a new model of car in Japan instead of in Britain.
On the other hand, both companies stated the decision was not made because of Brexit. Along
with it, another industry that has also been affected is the financial services industry. It can be
seen that there are many regulatory laws in place for banks set by the EU, that is why Brexit
would leave the banks in the UK in an uncertain situation. Such as during a hard exit, UK banks
may not be able to access the European market.
References
O'Rourke, K., 2019. A short history of Brexit: From Brentry to backstop. Penguin UK.
Dennison, J. and Geddes, A., 2018. Brexit and the perils of ‘Europeanised’migration. Journal of
European public policy, 25(8), pp.1137-1153.

Whyman, B. and Petrescu, A.I., 2020. The Economics of Brexit. Springer International
Publishing.
Bogdanor, V., 2019. Beyond Brexit: Towards a British Constitution. Bloomsbury Publishing.
Adam, R.G., 2019. Brexit: causes and consequences. Springer.

1. Introduction of Globalisation
Globalization is an international situation that has taken place in the late twentieth
century and it is a famous term that means the integration of the world economy with the help of
exchanging ideas, technologies, and products (Beck, 2018). This term is derived from the word
globalize and It has also caused a major impact on the growth of the business that allows the
business to attract more opportunities. Globalization is a complex and dynamic phenomenon and
the essay is going to discuss globalization, its impact on society with its advantages and
disadvantages.
The impacts of Globalisation on society in 2022
The impact of Globalisation on society has been very positive in all aspects of life
whether it is the economic or social aspect. Due to globalization, exports have become high and
it is considered to be the major part of the development of any country. It refers to a system that
operates on an international scale with advancement in transport and communication,
telecommunication infrastructure of the economy. Globalisation has made it possible to borrow
the technology in their country that helps in contributing to the overall development of the
country. It has to lead which brings huge changes in the human and industries as people shifted
from rural to urban. According to Desjardins J. (2019), globalization plays a major role in the
creation of human history and trade has increased up to sixty percent faster & the policies
consider goods such as autos, computers, and apparel whereas the service sector is also growing.
Along with it, companies are also spending on research and development and various intangible
assets such as brand, software, operational process, and intellectual property (5 hidden ways that
globalization is changing).
The advantages of globalization are explained below-
 Globalization has also led to an increase in job opportunities for countries globally that
helps in the greater economic growth of the companies.
It allows the various countries to work together in the global market as they become
interdependent on goods and services (SENTISHCHEVA, 2021).
 Globalization also allows making the goods more affordable in every part of the world
that is directly linked to productivity, reduce discrimination, and more opportunities for
people.

 It also creates competition between various foreign companies that is responsible for
creating pressure on the countries with the aim of improving the quality in order to
elevate the sales, profitability and this will further lead to a reduction in prices. Along
with it, quality of education and literacy rate has also affected.
Disadvantages
 Due to globalization, environmental issues are also increased such as deforestation and
loss of biodiversity (Ulucak and et.al, 2020).
 Due to structural changes in globalization, the number of jobs is reduced and it led to
wide the gap between the rich and poor of the country. Growth has led to an increase in
the depletion of the non-renewable resources
 Globalization also includes the use of technology which can be a threat for the workers as
they will be replaced by machines as machines work faster, produce more, and contribute
more to the company.
 People are told to accept the changes in the market environment that can bring
unfavourable situations and uncertainties (Perlas, 2019). That can lead to disparity in
society and a hike in prices.
4. Reflection & Conclusion
It can be concluded from the above research that the policies of globalization help in bringing the
world together and it can also be said that globalization has affected every aspect of people’s life.
Globalization is a developing process that contributes a major part to the development of the
country and it makes sure that equal opportunities should be provided in all the sectors which
work together with cooperation. As mentioned above, technology is one of the main factors that
change the lives of people because people rely on technology in order to communicate globally
or traveling to places
References

Ulucak, R., Koçak, E., Erdoğan, S. and Kassouri, Y., 2020. Investigating the non-linear effects of
globalization on material consumption in the EU countries: Evidence from PSTR
estimation. Resources policy, 67, p.101667.
Beck, U., 2018. What is globalization?. John Wiley & Sons.
SENTISHCHEVA, E.A., 2021. Globalization in the modern world. In Молодежь и XXI век-
2021 (pp. 11-13).
Perlas, N., 2019. Shaping globalization. Temple Lodge Publishing.

1. Introduction of Green Business
The situation of the world’s environment is in a delicate state due to human
industrialization. Earlier, people used to be not aware of the term ‘Green business’ but now, it
can be stated that this term is known around the world. People are making small efforts on their
individual level for example saving energy or recycling (Jones, 2018). Green business is said to
be the business that does not make any negative impact on the environment and society. It
comprises of providing such products which are not harmful to the environment. The essay is
going to discuss the green business, its impact on society with its advantages and disadvantages.
2. The impacts of Green Business on society in 2022
The impacts of Green Business on society in 2022 are explained below-
The green business helps society in saving natural resources and giving more focus on using
recycled products (Kouhizadeh. and Sarkis, 2020).
 According to Garner B. (2022), people are getting aware of sustainability issues, and as
per the study, it was found that around seventy percent of people are well aware of the
environmental issues, and along with it, forty percent of people plan to adopt the green
practices in their business (5 Sustainable Business Trends To Watch In 2022).
 Customers prefer such companies which have a green approach in the business and adopt
innovative and safe products for the safeguard of the environment. That is why the
demand for green business has increased.
 Many new technologies are helpful in reducing the usage of energy and nowadays, many
businesses are focused on using practices that are safe for the environment. For example,
many companies are redesigning their packaging and promoting the use of recycled
material, and moreover, investing in energy-efficient technologies.
 Due to the awareness of the green business, some business has also started following the
sustainable approach in which their raw material is collected from the producers directly.
 When the goals are sustainable then the company has started to contribute more to
society. The companies also reduce the environmental and social challenges by
considering such programs which are safe for the environment.

 Going green is not only beneficial for society and it is also good for the business as it
brings more advantages that are less cost that can be an outstanding market advantage.
3. The advantages & disadvantages to businesses
Advantages
 This practice increases the profitability of the business as the image of the company starts
growing then, the profits will increase. This is because green businesses are cost-effective
 Implementing a green business will provide a healthier environment for both the
employees and society.
 This also aids in elevating the brand image of the company in the market and that will
attract the customers as the company will value its customers, clients, stakeholders, and
the whole society (Hasan and et.al., 2019).
 Another advantage is that there is tax relief for the eco-friendly business and when the
companies are looking for the tax break they can consider the green business the
government also encourages the business to go green by giving them tax relief, rebates,
and various bonuses.
Disadvantages
 Implementing the business model is not an easy process as it takes time and the company
is required to be patient (Moşteanu, Faccia. and Cavaliere, 2020).
 Along with it, it also requires an initial investment. Such decisions cannot be taken
overnight as it requires a lot of planning, budget, management, and forecasting. In order to adopt the green business strategy, the company has to use the digital platform
that can lead to the issue of Data security that is the data of the employees can fall into
wrong hands. Also, system crashes and viruses can also create problems for the company.
That is why many companies still prefer the old and traditional methods for managing the
operations of the business.
 All the people do not have the same mindset and thought process so, another
disadvantage is that companies are required to find suppliers who are well aware of the
issues of the environment (Dymitrow, 2018).
 Suppliers who provide eco-friendly products will charge extra money which can be an
expensive process.

4. Reflection & Conclusion
As the world is understanding the importance of the green business, many companies are
adopting such sustainable practices. In the coming future, more and more companies will go
green and they make sure about the community & its customers. It can be concluded from the
research that green business helps in reducing the energy usage that will directly save the natural
resources and this will tend to elevate the overall efficiency of the business operations. It is
suggested that before implementing the green business model, the owners of the company are
required to evaluate both advantages and disadvantages of going green. From the above research,
it can be seen that there are many difficulties, and the management is required to consult with the
advisors so that the business objectives can be achieved.

References
Books and Journals
Hasan, M.M., Nekmahmud, M., Yajuan, L. and Patwary, M.A., 2019. Green business value
chain: A systematic review. Sustainable Production and Consumption, 20, pp.326-339.
Jones, G., 2018. Varieties of green business: Industries, nations and time. Edward Elgar
Publishing.
Moşteanu, N.R., Faccia, A. and Cavaliere, L.P.L., 2020, August. Digitalization and green
economy-changes of business perspectives. In Proceedings of the 2020 4th International
Conference on Cloud and Big Data Computing (pp. 108-112).
Dymitrow, M., Fermskog, K., Ingelhag, K. and Kotze, S., 2018, November. Integration and
green business development in a trust-building context. In 3rd Mistra Urban Futures Annual
International Conference:“Comparative Co-Production”, SunSquare Conference Centre (pp. 5-
7).
Kouhizadeh, M. and Sarkis, J., 2020. Blockchain characteristics and green supply chain
advancement. In Global Perspectives on Green Business Administration and Sustainable Supply
Chain Management (pp. 93-109). IGI Global.
5 Sustainable Business Trends To Watch In 2022. [Online]. Retrieved from <
https://www.businessbecause.com/news/mba-jobs/7861/sustainable-business-trends?sponsored
>
5 hidden ways that globalization is changing
https://www.weforum.org/agenda/2019/02/5-hidden-ways-that-globalization-is-changing/