LSBM004: Globalization's Impact on Business – Pros and Cons Analysis

This report examines the multifaceted impact of globalization on businesses, presenting a balanced analysis of its advantages and disadvantages. The report begins with an introduction defining globalization and explaining the rationale for topic selection, emphasizing its significance in enhancing living standards and reshaping business operations. It identifies three key sources of information and evaluates their reliability using the CRAAP test. A clear thesis statement outlines the central argument, followed by detailed discussions supporting the arguments for and against globalization. These arguments explore aspects such as increased global interaction, trade competition, job creation, worker exploitation, and cost considerations. The report includes a writing plan outlining the research and writing process, along with identified challenges and proposed solutions. Finally, a comprehensive reference list is provided to support the research and analysis presented. The assignment is structured to provide a thorough understanding of globalization's complex effects on the business environment.

The impact of Globalization-
pro or cons

Table of Content
• Introduction
 Reason for topic selection
 Three Key Sources of Information
 Source Evaluation
 Thesis Statement
 First Argument For
 Second Argument for

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 First Argument Against
 Second Argument Against
 Writing Plan
 Challenges & Solutions
 References

Globalization is defined as the process of
integration as well as interaction among people,
economies, companies and government of
different nations. This contribute toward
enhancing the living standard and reducing
poverty by combining the economies of two
nations.
Introduction

Globalization plays a significant role in improving the living standard of people
and way in which businesses perform their operations. Main aim behind selecting
this topic is:
To determine the negative or positive aspect for a business while entering in global
market
Changes that take place after internationalizing a business
Reason for topic selection

Three Key Sources of Information
The Pros And Cons Of Globalization. 2019. [Online] Available
through:<https://www.forbes.com/sites/mikecollins/2015/05/06/the-pros-and-
cons-of-globalization/#47941319ccce>./
22 Globalization Pros and Cons. 2019. [Online] Available through:<
https://vittana.org/22-globalization-pros-and-cons>./
The Pros and Cons of Globalization. 2019. [Online] Available
through:<https://smartasset.com/mortgage/the-pros-and-cons-of-globalization>./

Source Evaluation
Source evaluation is performed with the help of CRAAP testing in order to
determine the reliability as well as validity of source which is used for gathering
information. For completing this essay source 3 has been used in which article
has been published by Amelia Josephson on 21 May 2018. This source has been
went through several analyses to determine the accuracy of content and then
published, hence it reliable or authenticated source.

Thesis Statement
Globalisation provide several growth
opportunities to businesses but
apart from this it also have certain
threats related to political, legal,
economical and socio-cultural
factors.
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First Argument For
As per the view point of Mike Collion (2019), globalisation plays a significant role in
one's life by providing it a platform to interact with people throughout the world
and share information, product or services over several geographical region. This
concept is also support in improving the living standard of people by providing
them an access to global support.

Second Argument for
According to Moak, K. (2017) Globalisation is beneficial as it create competition
between countries related to trade which further drive the price down of
commodities. This help in improving the living standard of people by providing
them product or resources that can satisfy their need or want.

First Argument Against
As per the view point of Crystal Ayres (2019), Though globalisation brings up
several trade benefit which creates job opportunities but instead of that
Businesses focuses toward positioning their business in lower cost area where
labour as well as resources are available at cheaper rate in order to remain
competitive at marketplace.

Second Argument Against
According to the Marra, A. (2016), Globalisation also have several disadvantages
and one of them is greater worker exploitation. As globalisation leads to
integration of culture but at some workplace people belongs to different
nationality are being criticised and not provided with equal opportunity.