Concept of Globalisation : Essay
Added on 2020-11-23
13 Pages5172 Words87 Views
Individual Essay
Table of ContentsINTRODUCTION................................................................................................................................3MAIN BODY : ESSAY........................................................................................................................3CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................12
INTRODUCTIONGlobalisation is a process which is used by an organisation, so that they can expand theirbusiness in different nations and boundaries. As this help them in selling their products and servicesat different market place, so that they can increase their profitability and also can improve theirmarket share. In this essay, a study will take place on the concept of globalisation along with theirbenefits and drawbacks to an organisation. Also a discussion will take place on IHRM which isInternational Human Resource Management, and how this will help an organisation in globalisationwill get discussed (Bassiouni, 2015). As, beneath critical evaluation of globalisation for anorganisation will come in discussion, so that appropriate affect of globalisation on them can getanalysed.MAIN BODY : ESSAYGlobalization is a process by which organisation can expand their business and start thebusiness at global lever or international scale. This help a business as well as economy for overalldevelopment and growth at market place. Along with this, the main motive of globalization is toenhance the living standard of people and countries by providing them various benefits such as jobopportunities, educational services, and so on. With the help of this, individuals of both domesticand international countries exchange or opt various things such as different cultures, enhance theirknowledge, understand employment practices and many more. Also, globalization bring advancedtechnology which aids companies and countries to develop their society in an effective manner.With reference to this, it create competition at market place by which many companies can maintainits growth and position in market. Along with this, globalization can enhance goodwill orpopulation of brand through which they can attract new customers and retain old customers forlonger period of time. In context to chosen business entity i.e., Avon products, Inc, and its alsoknown as Avon, which is founded by David H. McConnell in the year 1886. It is a beauty relatedcompany, where this contains various products such as cosmetics, perfumes, clothing and so on.This company sells its product direct to the customers which means Avon used direct marketingchannel. In addition to this, globalisation create huge impact and aids it to expand their business atglobal level (Positive and negative effects of globalisation, 2019). This company provide widerange of products in good quality at affordable price and by this they enhance their brand image andmaintain goodwill at market place (Baylis, Smith and Owens, 2017). Further with this, they retainold customers and attract new customers towards their popular brand and company.With globalisation, peoples behaviours and values are increasingly becomes similar in bothdomestic and international scale. For example, when Avon company expanding their business at
global level then they and domestic country both opt behaviours of individuals and values forenhancing their knowledge and success of the business at market place. This is because, it isnecessary for company to understand need and expectations of customers and provide them theirproducts according to it as it maintain their reputation and growth in the market. Also, it makes longterm relationship with their potential customers and attract new customers toward their brandbecause of popularity and goodwill. Simultaneously, foreign countries also adopt culture,behaviours and values of people of domestic country for maintaining relations and growth ofbusiness in the market area. It has been analysed that globalisation helps companies to gain variousbenefits and develop nations effectively and efficiently. Also, it covers the gap between both poorand rich people as poor people gets job opportunity, educational facility by which they improvestheir standard of living and fulfil their basic need (Boyden, 2015). Further with this, individuals areinvesting their money especially in profitable business in terms of getting earn profit and increaseincome. So globalisation provides many valuable thing by which, less developing countries aremoving towards developing countries and with the aim of maintaining sustainability. On the other hand, globalisation has both positive and negative aspects which directly affectthe growth, behaviours, and values of nations. Their are many things through globalisation createspositive images like, it aids business to expand or start operation at global level, to opt diversifiedculture and learn various things, enhance foreign direct investment. This is because it helpsgovernment to enhance standard of living of poor people and less developed countries with amotive of overall development of society as well as nations. In context to Avon company theyimport their products from domestic to foreign trade as it helps them to capture huge market shareand attain profitability and productivity accordingly. Also, provide good quality of products ataffordable price and their main motive is to satisfy their customers because customers are the kingpin of the market. If domestic companies fight with foreign competitions as their aim is to raisetheir living standard and satisfy customers in order to maintain sustainability and survival at marketplace. Besides, if popular brand enters into a new country then they bring something unique as theyhave goodwill in the market. Along with this, this generate competition at market and aidscompanies to survive in tough situation for long period of time. Whereas globalisation has alsovarious negative effects which affects in overall development of nations. It contains various factorsthey are job insecurity, fluctuations in currency, fluctuations in price, capital flows, western cultureand many more (Claessens and Van Horen, 2014). In addition to this, mostly individuals ofdeveloped countries face fear of loosing job which is also known as job insecurity. This is becausedeveloping countries have white collar jobs and outsourced manufacturing, which means they haveless jobs for their people in an organisation or nations. Along with this, there are one more reasonthrough which individuals face fear of loosing job and i.e., company are ignoring safety standards
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