International Business Globalisation
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Added on 2020-09-08
International Business Globalisation
Added on 2020-09-08
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International Business
GlobalisationEvery company established with vision of long time survival in the market. They makestrategies for their growth and sustainability. One of the very major concept in building andachieving the brand image in the market can be through international business. With theintroduction of globalisation, this concept of international business has become a majorparameter of company's success in through out the world (Stromquist and Monkman, 2014).Globalisation has actually make a very strong impact on the economy. It is helpful in introducingnew technologies and further plays a vital role in achieving the company's target with mosteffective manner. It has provide tremendous platform upon which company can serve theirpotential customer.Globalisation can has both positive as well as negative impact in the economy. As far aspositive impact is concern about then there can be many better affect of introducing the conceptof globalisation in the market. It has developed a better economy with several opportunities forthe public, private, voluntary sector and partnership firms. All the scientific researches that havebeen conducted by several countries is a result of globalisation. This enables the country todevelop new methods, techniques, tools and equipments with the help of which different sectorscan perform their work. Effectiveness of results and outputs can be observed. Purchasing powerof customer will increase and this will result in the high standard of living. Affect of this can beseen in the less level of poverty in the country. Different nations may have some specificresource or technologies so by globalisation, seeking country can get their desired resources andtechnologies in which they are lacking behind. This overall improves and boost the economy.Apart from impact on economy, there is positive impact of on political and cultural domain aswell. Other than this, globalisation may have a negative impact as well. One of the majordrawback is that with the transfer and exchange of various resources, material and technologiesin different countries, the issue of unfair distribution of income have also increases. Nationalintegrity can also be seen as a major fear that can be arise with the introduction of globalisationin the market (Hirst, Thompson, and Bromley, 2015). This is because there is too much exchangeof money and trade in the market which will lead to reduce the individual domestic legislation.With the evaluation of globalisation, the level of competition in the market haver also increased.This will lead to make pressure in the mind of management and thus they may suffer from1
depression. Particularly, globalisation has certain impact on various companies, countries andgroups in societies. With the tremendous impact of globalisation in the market, there are several companiesthat is either facing a good affect of this on their company or this will make them looser in themarket (Glatzer, 2011). Companies like Aldi, Tesco, McDonald, Austin Fraser have expand theirbusiness and thus attained a good level of growth in the market. In context of Aldi which issolely a supermarket based company have used all the positive sides of the introduction ofglobalisation in the market. They are exporting and importing in various countries. And thus theavailability of raw material and other resources have also increased. They have introducedseveral ranges of their products. Tesco is the biggest brand in the retail sector. Globalisation hasmade their business operations so successful in the market. They are now focusing upon themajor ways by which they can fully utilise the impact of globalisation. McDonald is a famousbrand in all over the world for their fast food products. They are now fully recognised brandworldwide due to the evaluation of globalisation. Austin Fraser although is not a very big brandin the market but they are continuously increasing their market operations. They are trying toenter in new market. This is possible only because of the concept of globalisation (Sassen, 2015).Apart from all the success stories related to companies that get benefited with globalisation, thereare many companies who are facing the bad or the negative impact of it on their business.Biggest threats of globalisation can be seen as on the local marketers. This is because they donot have full resources to run a big corporation. They are earning in the market with limitedresources. As people are now fully aware about the product and services that are available in alloverall the world, therefore, they try to get best deal out of it. Small markets do not able tosurvive in the market. Result of this can be recorded as the means by which they are strugglingwith their life. Another threat of globalisation can be observed on the level of employment.Companies hire international candidate with the search of better skills and qualification. Thisreduced the efficiency of domestic candidates.A part from impact of globalisation on companies, there are many countries who arefacing equal level of affect due to the concept of globalisation in the market (Lim and Tsutsui,2012). Developed countries like United kingdom, Germany, China, Australia, Japan are all comeunder developed countries and therefore, when they got the best platform for exchanging theirresources at international level, they utilised all the benefit out of it and thus will lead to develop2
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