The Impact of Globalization: Positive or Negative?

The Impact of Globalisation - Positive or Negative?
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Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................4
Conclusion.....................................................................................................................................10
References......................................................................................................................................11
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Introduction
Globalisation is the business concept or activity which emerged in the mid-1800. The concept
can be defined as a business process or a business trend which tends to increase the interaction
between people, business organisations, and government authorities on a world-wide scale. In
the context of business specifically, globalisation is the business procedure through which
corporates establish international influence to develop international and wider scales of business
operations. Globalisation came into action due to various forces and elements in the business
environment. The process of globalisation developed due to modifications and advancement in
the transportation and communication technology in the very basic form. Globalisation emerged
due to various other business factors such as availability of labour, freedom of trade and
business, enhanced labour skill and quality etc.
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Main Body
The business process gave birth to the terms of multinational corporations and international
business organisation. Multinational corporations are also known as MNC’s. These can be
defined as a business organisation carrying out its business process such as production in at least
more than one country part from its home country (McCann, 2016). Globalisation has provided
with various advancements and adverse impact on the global economy and the business
environment. The easy will discuss globalisation, its driving factors and the positive and negative
impact on the world economy.
Globalisation in the business environment is centred on the activities of business expansion and
growth of the business operations. Globalisation impacts the international trade regulations, taxes
and tariff duties, and factors that drive the changes in the global business and trade of economies.
It is the process which focuses on increasing the economic integration of the various countries
and economies. The process lays emphasis on the global interaction of the economies to execute
diverse scales of business operations. Globalisation is primarily an economic process which
depicts its impact on the cultural and social aspects of the economy. Globalisation can be divided
into three basic forms globalisation in the economy, globalisation in culture and globalisation in
politics.
The process of globalisation impacts as the growth and exchange of ideology and thinking in the
business processes. The in the economic and business context it refers to exchange of good and
services between the organisation operating in different parts of the globe. The process is also
functioned with exchange of economic resources, technology and capital. The development in
transportation technology in the terms of steamship, jet engines, container ships etc. enabled
globalisation (Coyle, 2016). The driving factors are also advancements in communication
technology. The advancement and development of internet technology and mobile phones also
fastened the pace of globalisation. These factors acted as driving forces for globalisation and
interdependence of the global economies. In the year 2000, the International Monetary Fund
identified various eminent aspects of globalisation which includes Trade and Transaction,
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