The Impact of Globalisation on Business: An India Perspective

This report analyzes the impact of globalization on business, particularly focusing on the Indian market. It begins with an introduction explaining the broad effects of globalization on individuals and businesses. The report then presents a case study of a departmental store, examining how globalization affects its operations in India, specifically in light of LPG policies. It delves into technological factors, highlighting the importance of internet and telecommunication infrastructure, and social-cultural factors, emphasizing the need to understand Indian consumer preferences and cultural nuances. The report also covers financial factors, discussing access to funding and the influence of international banks and government policies. Additionally, the report includes a reflective workshop log, providing insights into the learning experience and the practical application of globalization concepts. The author discusses the positive and negative aspects of the workshop and offers suggestions for improvement. Overall, the report offers a comprehensive overview of the impact of globalization on business, especially in the Indian context, touching upon various aspects like technological advancements, social changes, and financial considerations.

How Globalisation has impacted me

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT 1......................................................................................................................................3
ESSAY........................................................................................................................................3
PROJECT 2......................................................................................................................................6
REFLECTIVE WORKSHOP LOG............................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
This report says that these days there is globalisation is not only affects country but
individual person also (Cetorelli and Goldberg, 2012). There are corrective measures taken by
government to get positive impact of it. Globalisation means to provide a single platform to
organisation to operate. This provides an chance to general public to analyse different national
and international brand. Globalisation give rise to digital marketing also and hence nation gets
chance to develop its economy. Impact of globalisation on India has been discussed.
PROJECT 1
ESSAY
Globalisation means providing a platform to business concern to interact with different
countries. I make this report on India because want to open departmental store. there. After years
of freedom to improve condition of country government of India come with concept of LPG
policy. It stands for Liberalisation, Privatisation and Globalisation. These policies affects
individual personally as well as to country also. It is studied that in initial days there was
problems faced in applying these policies. It is duty of government to keep eyes on policies and
in case of any discrepancy there must be changes in policies. India is a developing country so
they want to grow their economy with other Asian countries.
E.g. TESCO is a brand originated in USA, but due to globalisation policy TESCO outlet
is in India also. So it provides benefits to company, country and consumer as well. It makes
international product available in other country also. This will provide more competitive
environment in country and it increase living standards of people residing in India. Globalisation
has positive as well as negative impact on person. If I want to operate my business in India then I
can easily do it. There is government interference also. There are external as well as internal
factors that affects business growth. External factors such as political, legal, social, economical,
etc. While internal factors include customers, employees, creditors, debtors, etc. so it is
important to take care of these factors as they help in improving profitability of business. These
factors may create hurdle in growth of market, it will be more beneficial to take care of these
constituents. There is change in culture of different countries so it is important to take care of
emotions of people. It might be tough for us to settle business in India, but if corrective measures
and proper planning is done and it educates person about current issues.

TECHNOLOGICAL FACTORS- This factor plays vital role in globalisation policies. I want to
open departmental store in India from last few days, but as days pass the technology is changing
very frequently (Lambin and Meyfroidt, 2011). Specially telecommunication and internet
facilities are growing with rapid speed. This is because of usage of different devices of different
national and internation brand. There are opportunities for consumer to opt best quality and with
cheap rate. Before 3 years there was 2 G internet facility in India but today India has 4-5 G
services at very cheap prices. This is fruitful in case I want to operate my business status of India
by merely sitting at USA. There are many internet providers these days which are providing their
best services to consumer. This will provide consumer best services as in case of delay in solving
query, he/ she will switch to other operators (Docquier and Rapoport, 2012). Through
technology up-gradation frequently answers can be provided to consumer and he/ she can see
product and services of my organisation through website. These days to know about supplier
and to take estimate can possible through online sources. But it is important that there must be
proper analyse done to know which option is best. Globalisation provide edge to know what
sources they can use to deliver best qualities. I want to open my departmental store business in
India so there is need of manpower as well so technology is much updated in this sector also. I
can take interviews through Skype. Candidates can mail me their CV from their place, so it is
very easy to hire them when I am in USA. It is important to say that company has to gather many
resources such as office premises, manufacturer, supplier, warehouse facility, creditors, etc. they
can be served through internet, there is no need to go and search them in market. I can outsource
facilities in case of specialised services. There are many departments in organisation such as
purchase, sales, marketing, etc. they are headed by different managers so there us requirement of
intercom facility, this is also available via various national and international brand (Leidner,
2010). We need to market our product and services so as compared to older years there are many
companies who market product, so this will help in creating awareness among consumer which
is important for organisation growth. These days there are YouTube, televisions, organisation
website, Instagram etc. which help to contact to consumers and market product and services. It is
important to take feedback regarding quality of product and services, this can be done through
various channels such as website,etc. There are different channels through which we can contact
consumer and insist them to visit store again. India is a developing country, so people are eager
to use new techniques. There are discount schemes offered to public which can be convey

through hoarding, advertisements, etc. These days through technology up-gradation we can
provide customised discounts also (Burstein and Vogel, 2010). To make goodwill in market and
take money from external source it is important to create awareness in industry about concept of
setting business in India. This can be more easy and possible through technological up-gradation
after globalisation.
SOCIAL- CULTURE FACTOR- Culture of India is much different from USA. But as there are
many changes taken place after globalisation. People are aware about what is happening outside
India. They are more tradition as compared to foreign country. To open departmental store in
India it is important to know what is preference of people. E.g. people of America prefer more
packed food but in India it is not in trend, so there must be change in plans and policies.
Globalisation has impacted mostly common people as they are more brand conscious. We will
try to provide different brands in our outlet so that people prefer to avail services from us.
Diwali is very big festival in India and in order make my brand popular we plan to provide
discounts at that time (Narula, 2014). Wedding are also big occasion in India so we offer special
discounts to families of bride and groom. This will help to our business. India is a country with
more social and morale values so our brand can attach kids zone with store so parents can shop
their and kids can play. As there is increase in flow of different cultures through Globalisation,
people start celebrating Christmas, Valentine's day, Mother's day, et. This will influence sales of
chocolates, cards, bouquets, etc. While operating business there we also came to know about
Indian culture. This will help to raise living standards of people and people are more aware about
new changes taking place in foreign country. After globalisation people are using more and more
online services so that will help in increasing sales. Is is important to take care of sentiments of
public residing in business, this is the key to provide success to our brand. There will be cheap
labour available in India. This factor will help to educate people about new product and services
launched in industry. As there will be more competition in industry this will emphasise company
to give best quality services at cheap rate.
FINANCIAL FACTORS- Finance is most important component of our business. It is important
to say that if there is less fund company cannot operate business efficiently. In our organisation,
funds are required for purchasing goods, warehousing facility, leasing rent, salary tom
employees,etc. It is not possible to invest whole amount from owner's side. Due to globalisation
many international banks are open in India (Ju and Wei, 2010). This provide us chance to take

loan from bank after analysing interest rate of different sources. As I feel, that in older days it is
tough to raise fund in India to operate business, but from last few years government of India give
emphasis on FDI (Mendoza and Quadrini, 2010). Government of India provide chance to
external party to invest their money in India and they get best revert. In India there are many
changes taken places in last days,. After globalisation Government of India promote foreign
companies to come with new concept and set business in India as well. It is important to know
which financial sources is beneficial at what time. There is change in financial status of India as
fluctuation in American market as globalisation creates linkage between markets. There will be
more support from Government of UK as well (Kose and et. al., 2010). We can provide
assistance to retailers which help in growth of business. There is important role of Government
of India to promote foreign businessman to invest in native country.
(Source: PEST Analysis 2018)
Illustration 1: PEST analysis

PROJECT 2
REFLECTIVE WORKSHOP LOG
This workshop is very interesting and helped a lot to enhance my knowledge regarding
globalisation policy. This will help me to plan what can be done to grow my business in India.
Before attending this seminar I was not aware about such facts of globalisation that it impacts
person as well as country. It is important to say that I am Thankful for managing this seminar
and enhance knowledge how to accept changes. This make us to know that factors which affects
business in India. It is important to tell that company has to make efforts to settle their brand in
Indian market.
During lecture there are much people due to which few things are not clear but the ideas
shared by speakers are really interesting and fruitful. Knowledge of speaker was very wide and
they are of friendly nature which feel me free to ask my queries regarding subject. It is very
impressive that they provide their contact details to ask any problem in case of need. When I
asked issues related to globalisation they revert nicely. The thing which make me disappointed is
rushy hall, there was requirement of comparatively big hall which can make event more
successful. I have make notes which are useful for me ijn near future. I was not aware about
Brexit initially but after attending seminar I get to know about this also. There was miss
management in things related to distribution of kit. There was no proper guidance provided that
where to go and to whom where to sit, this gives bad impact. There are sometimes problem
related to mice system which feels like wastage of time. I feel that there are few people which
are not interested in taking part in session but they are disturbing other people. It is important to
convey that some sessions of workshop are not so interacting as some speakers are merely
talking about theoretical knowledge. The booklet which is provided to participants was not
updated, this makes me sometimes to google things. There must be some refreshing activity after
two sessions so that participants become energetic. The cultural eve was awesome and theme
was also good.
With this session I enhance make knowledge regarding to other field such privatisation,
liberalisation, etc. This makes me feel important to work under the guidance of speaker so that
there are very less chances of conflict in organisation. It was said that it is important to use

resources optimally. In case of requirement of specialised services company can contact to some
out sourcing company it will be fruitful for company as services are readily available and
company can concentrate on other activities. It is important to take acre of political relations of
our country with other country this will provide ease to organisation., and political relations also
improves. This session tell us about detailed description about rapid technological changes and
reasons why company has top take into consideration.
There are many laws and regulations which is important to undertake if company want to
operate in India. It is clear after attending session that there is improvement is the financial
condition of country. Government get foreign currency, there are many resources at different
places and they can be utilise optimally in Globalisation. It is important to analyse market
regularly so that this will help in taking corrective actions at appropriate time. When business
grows from one place to another it will increase profitability of business. It is clear that because
of globalisation there are good relations among political parties of different countries. So it is
important that to promote the brand to open their outlet in country. It is clear after taking session
that company has to come with innovative ideas so they can attract more and more consumer.
There will be increment in technologies used in India.
With this session I came to know about problems faced by business man while setting
business in some other country, so it is important to take corrective measures to reduce negative
effects. There was parking issue also due to shortage of parking slot. Speakers tell us about
problem of immigration and there are chances that sometimes there are brain drain. It was taught
that company has to take care of culture and religion of countries where we are operating
business. To make business successful it is important to complete all the formalities and in case
of change in government policies then it is essential to make changes in plans and policies. It is
important to be particular about security of consumer, as this is the main way to enter in market.
These days there is important rile of organisation to provide funds for CSR (Corporate Social
Responsibility) activities has to be performed. It means there is some percentage of their revenue
with which there must be some activities for the benefit of society. E.g. educating under prevail
children, etc.
As the part of this session in am glad and I recommend other people also to be part of this
next year. I want to convey that corrective measures must be taken next year so that it will be
more fruitful. As there are rapid changes in environment so these sessions are important for

increment of knowledge of person. I suggest there must be some compulsory session related to
contemporary issues in corporates this will enhance knowledge and a kind of refreshing
activities. This will help company to provide many other assistance such as knowledge about
current era. Employees are also happy that they are important component of society. These
sessions will help maintaining economies of scale of country. There is important role of
candidates also to take actively part in such sessions.
CONCLUSION
From the above discussion it is analysed that there is impact on country's growth and
development. This helps in improving living standard of people, reduction in poverty.
Globalisation provides chances to generate employment, increase in GDP of country. It is
important to give emphasis on framing of monetary policies. It improves government relations
among different countries. Globalisation help country to upgrade its technology as compared to
other countries. Factors which are discussed above are important in order to create good image in
market.

REFERENCES
Books and Journals
Aizenman, J., Chinn, M. D. and Ito, H., 2011. Surfing the waves of globalization: Asia and
financial globalization in the context of the trilemma. Journal of the Japanese and
International Economies. 25(3). pp.290-320.
Burstein, A. and Vogel, J., 2010. Globalization, technology, and the skill premium: A
quantitative analysis (No. w16459). National Bureau of Economic Research.
Cetorelli, N. and Goldberg, L. S., 2012. Banking globalization and monetary transmission. The
Journal of Finance. 67(5). pp.1811-1843.
Docquier, F. and Rapoport, H., 2012. Globalization, brain drain, and development. Journal of
Economic Literature. 50(3). pp.681-730.
Dovitiis, M. D., Gomez, J. and Gomez, R., 2017. Can Local Actors Foster a More Inclusive and
Sustainable Model of Economic Development? The Role of Business Improvement
Areas in the “New” Industrial Policy. Osgoode Hall Law Journal. 54(4). pp.1019-1050.
Ju, J. and Wei, S. J., 2010. Domestic institutions and the bypass effect of financial
globalization. American Economic Journal: Economic Policy. 2(4). pp.173-204.
Kilic, B., 2014. Defending the Spirit of the Doha Declaration in Free Trade Agreements: Trans-
Pacific Partnership and Access to Affordable Medicines. Loy. U. Chi. Int'l L. Rev.. 12.
p.23.
Kose, M. A. and et. al., 2010. Financial globalization and economic policies. In Handbook of
development economics (Vol. 5, pp. 4283-4359). Elsevier.
Lambin, E. F. and Meyfroidt, P., 2011. Global land use change, economic globalization, and the
looming land scarcity. Proceedings of the National Academy of Sciences. 108(9).
pp.3465-3472.
Leidner, D. E., 2010. Globalization, culture, and information: Towards global knowledge
transparency. The Journal of Strategic Information Systems. 19(2). pp.69-77.
Mendoza, E. G. and Quadrini, V., 2010. Financial globalization, financial crises and
contagion. Journal of monetary economics. 57(1). pp.24-39.
Narula, R., 2014. Globalization and technology: Interdependence, innovation systems and
industrial policy. John Wiley & Sons.
Prabhavathi, M. C., 2013. An analysis of labour downsizing in Karnataka.
Scheibmeir, J. T., 2012. Film, Fashion and Fotografía: The Exoticism and Eroticism of Female
Victims in Juárez.
Online
List of advantages and disadvantages of Globalization. 2018. [Online]. Available
through:<https://www.enotes.com/homework-help/list-advantages-disadvantages-globalization-
list-113517 >.