Globalisation and its Advantages and Disadvantages in Management and Business Context

MANAGEMENT AND
BUSINESS CONTEXT

Contents
Introduction............................................................................................................... 2
Globalisation and its disadvantages and advantages..............................................................2
Conclusion................................................................................................................ 7
References................................................................................................................ 8

Introduction
The essay brings out a discussion on globalisation and its related advantages and
disadvantages to bring to the contemporary companies. Many entrepreneurs have undertaken
creative solution to serve to the issues regarding the globalisation and to manage the
challenges associated with the globalisation. Globalisation refers to rolling of different
concepts in one roll where a business can conduct operations in several countries (Paswan, &
Rajamma, 2016). Globalisation is the free movement of goods and services, which have been
manufactured by the workers in the world in an integrated way by opening up to the world
economy and leading to increase the collaboration of trade between different countries.
Further, it brings out a discussion on contextual factors such as knowledge management, e-
commerce, innovation, and other complex issues related to when companies faces issues and
there is a need to imply new creative solution (Paswan, & Rajamma, 2016).
Globalisation and its disadvantages and advantages
Globalisation allows free flow of reducing and removing the trade barriers in between the
nations by creating flow of capital and allowing the free flow of technology transferring. The
concept of globalisation with the integration (Krishnaswamy, 2017). The concept of
globalisation refers to the integration of national states in the framework of WTO (world
trade organisation) which is an alternative version of the theory of the comparative” cost of
advantages” given by the economists in the assumption of unrestricted flow of goods. Several
economies has gained and helped the developing countries in order to enhance the
competitive strength and finally get high growth rate (Lehmann, and Jungwirth, 2019). With
the increased pace of economic and inter cultural relationship, it is seen that few features of
globalisation has benefits the emerging economies (Qaim, 2017). Liberalisation signifies the
freedom of people to launch trade, commerce, and operate industry in the country or even