logo

Assignment on Globalization | Economics Assignment

6 Pages1336 Words110 Views
   

Added on  2020-06-04

Assignment on Globalization | Economics Assignment

   Added on 2020-06-04

ShareRelated Documents
Globalisation
Assignment on Globalization | Economics Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1Meaning of Globalisation............................................................................................................1Assessment of the impact of globalisation on business operations.............................................2CONCLUSION................................................................................................................................3REFERNCES...................................................................................................................................4
Assignment on Globalization | Economics Assignment_2
INTRODUCTIONThe economic development of one economy is reliant on another in present scenario.This is due to globalisation of every single market in the world. It is the very process whichintegrated every country economy into global one and assured that the concept of isolation is nomore. This also assist in making a world which is more connected with one another (Zoomers,2010). This report states about how globalisation impacted business and its operation in a widercontext. This will assist reader in understanding how an integrative idea has improved stability inworld economy. Meaning of GlobalisationThe definition of globalisation as stated by Nobel prize winner Joseph Stiglits is, “It is acloser integration of nations and people of this world which is brought by tremendous reductionin the cost of logistics as well as communication while breaking down different barriers createdby mankind in flow of good, services, assets, knowledge, people and capital between countries”. Globalisation basically connected different nations and their economy which minimisedrisk but increased reliance on one another. Today, business are more reliant on one another thanthey were a decade ago. There are different types of benefits of globalisation as this allowednations to share technology, resources and improve relations with one another. The completeidea behind this concept was to make a global economy and connect different people in theworld to one another as it would bring peace and growth (Wright, 2016). To understand theconcept of globalisation the following table can be analysed: It depicts about the paradigmchanges that took place from cold war to age of globalisation-Cold WarGlobalisationBased on Division Based on integration of nations and economiesDeveloped a wallCreated Web to connect globallyOnly 8% of world economies had free marketsMore than 45% of markets are freeDivided on the basis of cultureOne global culture and citizenWeight was measured in megatonsNow it is measured in GigabitsPower of countriesPower of people and marketsThis table clearly states about the difference between globalisation and previous worldmodel. It also describes about the changes that were made overtime. This concept has sweptaway in the world and has visible impact on business operations.1
Assignment on Globalization | Economics Assignment_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Impact of Globalization and Neoliberalism on Sex Trafficking
|7
|1905
|500

Environmental Modeling & Assessment
|8
|1641
|16

Globalization and Global Health Assignment 2022
|17
|4209
|12

Global Business Environment: Factors, Benefits, and Challenges for Businesses
|12
|4176
|386

Globalisation : the rise and fall of an idea that swept the world
|16
|3981
|16

Global Issues for Management | Report
|6
|1444
|17