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Global Policy and Strategy : Report

   

Added on  2020-01-15

12 Pages4111 Words192 Views
GLOBAL POLICYAND STRATEGY

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................3RECOMMENDATION...................................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONFrom the view point of Real story of Globalization, “It is the process of world shrinkagewhere distances are getting shortened and things started moving closer. Further, it refers toincreasing ease with which somebody can interact with someone in any part of the world in orderto have mutual benefit (Definitions of Globalization. 2006).” However, as per Joseph Stiglitz,“Globalization is the closer integration of countries and different peoples of the world whichgenerally leading towards the reduction of cost in transportation as well as communication. Apartfrom this, it is also leading towards the breakdown of barriers across the borders.” Eric Beerkensstated that, “Globalization refers to the process where people in the world are incorporated andtreated as a single one society; more even a global society.” Given above are the definitions given by three different authors as per their perspective.Meaning of all the definitions is genuinely the same; but few have defined in simple manner andsome have broadened the shackles in order to have deep meaning of the same (Hirst, P.,Thompson and Bromley, 2015). Globalization is nothing; but a worldwide movement towardsthe economic, financial, trade and different communication integration so that business venturecan make more contacts with the outside world. By accepting the same, they will increase theirrevenue, profitability and corporate image. Moreover, globalization is a national perspectivewhere different borders are interconnected or interlinked with one another. It further results infree transfer of the capital, goods and services across the national borders.This assignment is all about understanding the different global policy and strategyprevailing whole around the globe along with the development which going to take place incoming decades. Further, the scope of this report is to evaluate the benefits which they will getfrom the different drivers of the globalization. Majorly there are 8 drivers but the major reachwhich organization can see is by taking technological, cost and market drivers into consideration.Furthermore, globalization is also treated as an international integration which generallyarises from the interchange of the world views, products, ideas and mutual sharing along withdifferent aspects of the culture. Moreover, it is a recent phenomenon which took place in the late90's and got boosted up in 20th and 21st centuries. As stated above as well that the actual meaningwhich is derived by the authors are same but each of them have their own viewpoint to contrastwith the situation (Chaminade and De Fuentes, 2012). Further, with the implication of theglobalization, industries have got boosted up whole over the world and focuses on making an1

excellent relationship with different countries so that they can expand their products throughout.Apart from it, globalization has different benefits but at the same time it complied with differentdrawbacks as well. If we talk about the advantages, then some major benefits are discussed asfollows:It reduces the international poorness and also make huge contribution in spreadingtechnology. Further, it increases the profitability and revenue of the cooperation and focuses ondeveloping strong trade relations between different countries around the globe (Wei and Lin,2012). Moreover, different policies and laws of different countries are concerned by industries sothat they can conduct best of their operations.Globalization constitutes some disadvantages as well and these have been discussedefficiently as well. Some of them are:At times, globalization can ruin the environment because of moving up of things fromone arena to the other. Globalization results to increase in imports than exports which isgenerally growing trade deficit and balance of payments problem within a particular country..After identifying the clear definitions of globalization, now it is time to focus on differentdrivers which influence the globalization up to a great extent. These drivers affect theperformance of organization as well. In order to make an effective brand image, businessorganizations have to consider some drivers effectively so that they can perform best of theoperations which will lead them in achieving their goals and objectives. Some of the majordrivers have been named and explained are Technological, Political, Market, Cost, Competitive,Environment, Government, Other drivers.Political drivers consists of liberalized trading rules and markets which generally leadtowards the lowered tariffs and eventually allows FDI almost all over the globe. Further, GeneralAgreement of Tariffs and Trade (GATT) 1947 and WTO 1995 and increasing privatization in theEastern Europe is the latest development in this segment. Further, political factor involve variouspolicies which are framed by the government in order to make import and export proceduresimple and effective.Competitive drivers also plays a role in the global market as the global inter firmcompetition is increasing day by day and organization are forced to play internationally in orderto increase their goals and objectives. Under this, organizations who are working in the same2

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