Globalization and World System Theory

Impact of globalization on
Retail sector

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
ASSESSMENT 1.............................................................................................................................1
ASSESSMENT 2.............................................................................................................................2
CONCLUSION:...............................................................................................................................4
REFERNECES:...............................................................................................................................5

INTRODUCTION
With the introduction of globalization in the 19th century, the ease of doing business
became easier. It created a boom in the entire world economy and industries. Many industries
took this opportunity and expanded their business to a large extent. It provided them a platform
to grow and develop as much as they can (Dancygier, and Walter, 2015) This helped developing
economies to improve their economic condition and gross domestic product. Besides this,
business were able to earn huge amount of profits. It also provided people a vast range of
products to choose from. It was easy for business to identify people needs so that it can be
satisfied. This report will throw light on how globalization helped business to expand and grow
and what are the impact on globalization on countries, business and people.
ASSESSMENT 1
How Does Globalization Help us
Globalization is process through which business develop trade relations with other
countries for doing business. It has helped a lot for small and large industries to expand and
grow. It created a platform through which it was easier to increase sales and profits (Kurnia, and
et..al 2015). Also, with this they captured and gained market share and allowed competitors to
emerge. This lead to intense competition among retail sector. It has also lead to growth and
development of nations due to increase of foreign direct investment (FDI). However, retailers are
now focusing on market development to expand their business.
Perspective of globalization
Many authors have discussed this issues about benefits and impact of globalization on
business. They have said in favour and against of this. It has given a review on distinct
perspective on this topic. In this research the targeted audience is various businessman who are
the owners of small and medium size businesses. Retail sectors business thinks that globalization
has helped them to expands business at large scale (Ayers, and Odegaard, 2017). It has provided
them a platform to earn huge amounts of profits. Moreover, it has also helped customer by
providing them wide range of products. They are able to get services anytime, anywhere. It has
also enabled business to implement product and market development strategy.
Impacts of globalization
1