Detailed Analysis of Globalisation's Impact on Business Operations

This essay provides a comprehensive analysis of the impact of globalisation on business operations. It begins by defining globalisation and highlighting its drivers, such as international trade and investment, supported by information and communication technologies. The essay then delves into the positive impacts, including enhanced access to knowledge, cost-effective resources, and opportunities for product differentiation, exemplified by McDonald's. Conversely, it explores negative consequences like issues arising from lower wages, challenges for small businesses, government restrictions, and differing financial reporting requirements. The essay further examines the implications for senior management decision-making, emphasizing cultural dynamics, political risk, product design, funding, human resource management, and marketing strategies. It underscores the importance of adapting to these global considerations to ensure the success of business operations in foreign markets. Finally, the essay cites relevant academic references to support its analysis.