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Short Written Responses (pdf)

   

Added on  2021-02-21

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SHORT WRITTENRESPONSES
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1.Globalisation termed out as to increase rivalry and that can relate to product and servicescost and price, target market, technological adaptation and fast manufacture by the enterprise(What is Globalization ? Meaning and it’s Importance, 2019). Therefore, this increases themarket share and also has profound impact on decision making process of managers. In thesimple words, globalisation is the process that defined as that world is becoming moreinterconnected by the culture and trade exchange. Thus, it is the study that looks for the reasonfor globalisation and its positive and negative influences. It also has huge impact over the domestic commodities as Foreign direct investmenthighly affects the economic growth that has had positive growth in wealthy countries. Thus, thisenhances in trade and FDI and this all results into higher growth rates (Shahbaz, Shahzad andApergis, 2018). Additionally, it can be stated that globalize state have lower increment ingovernment authority outlays and taxes and lower level of corruptness in movement. Therefore,optimistic and pessimistic impacts of globalisation defined in following manner as are- Positive impacts- Provide access to larger markets- Globalised countries and firms have access to biggercustomer base. To sell commodities in the country a firm needs to expand to otherregions for boosting sales in order to generate more profitability (Beumer, Figge andElliott, 2018).Innovation- The desire to make profitability has always been spur to expandedinnovation, trade and communication of ideas. Henceforth, the great ideas from leadersspread more effectively and conveniently. Better quality and variety- the competition from differ countries drives firm to bettertheir commodities. Henceforth, consumers can have better quality commodities andvariety of commodities can also get enhanced. Negative impacts- Environmental damage- It is term that led to enhance production for business to meetout global demand. Enhanced production leads to have more natural resources and thiscan be used up before they regenerated and tends to have negative impact on environment(Asongu, Tanankem and Osabuohien, 2019). Within countries as developing the rulesand regulation are not that strict as developed countries. 1
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