Literature Review: Globalisation Challenges for Business Success

This report provides a literature review on the challenges associated with globalisation for businesses. It examines the impact of international trade and economic integration, highlighting the negative consequences such as job losses, tax avoidance, and increasing inequality. The review then focuses on the specific impact of globalisation on JD Sports Fashion PLC, analyzing both positive and negative effects on its growth and market expansion. The report identifies strategies to overcome these challenges, emphasizing the need for bold reforms, shared vision, and the incorporation of social purpose into core business strategies. It references key academic sources and provides a comprehensive analysis of globalisation's multifaceted influence on businesses and economies.

Business Research
Plan

LITERATURE REVIEW
To evaluate about the main challenges associated with the concept of globalisation for a business
firm.
According to William C. Dudley. 2017, it is important and essential to analyse the results
of integration trade and international trade if it is increasing the overall economic position or not.
There are several drawbacks and challenges which people, businesses, economy and others have
to face due to globalisation. The employees of industries that are working form years will
become unemployed as their skill set becomes irrelevant and incompetent. These workers loses
jobs and faces huge difficulties to find a new one and adjust according to it and most importantly
in accordance with globalisation. Country and economy is also affected due to globalisation as
barriers are reduced for moving trades in different countries and regions which results in
migration of whole operations to those regions which are tax havens. This leads to tax avoidance
and country face losses in their revenue and reduced treasury. Inequality is spreading in the
society which is a result of globalisation. The burdens has been borne unequally and spread over
the long time periods resulting in higher and increasing standards of inequality in different
regions and those who have strong position will be partially favoured and their voice will be
heard easily and faster then others. Globalisation is impacting the industries and businesses
positively but it is also becoming a barrier in economic development, community enhancement
and betterment of society which a very sever and challenging factor attached to it.
To determine the overall impact of globalisation on success and growth of JD sports fashion plc.
In view of Mike Maytt, 2020, developing and expanding geographic footprint of business
is not a easy job its is hectic, expensive and efforts taking with huge risk propositions that are
just shifted rather than reducing or ending. The phenomena of globalisation has positive and
negative impacts both over the success and growth of JD sports a fashion plc. Enabling the
factors of globalisation it has allowed the firm to grow and expand it market share. The company
aims at becoming the leading sports fashion and accessories brand of the world serving huge
customers base. This aim is not fulfilled by few efforts it is an on-going process which is only
possible by globalisation and expansion. Growth and success of JD sports depends upon
globalisation and moving into new market with their new or existing offerings for satisfying their
needs. On the same level globalisation has impacted negatively to the business as well, currently

it is developing and a force which is stabilising the business but the increasing interdependencies
are also evolving and shoring up the risks. This can bring negative and sever impacts over the
domestic economy and other economies in which JD sports is dealing moreover, economies are
exposed to global crises affecting the business and its operations.
To identify the suitable strategies to overcome the challenges of globalisation which ensures
effective growth and success of JD sports in global market.
According to point of view of Klaus Schwab, 2018, globalisation is a positive and
negative phenomena as it has both type of impacts over business, its growth and success, over
economy and other aspects related to it. In order to reduce the impacts of globalisation and
fighting with the challenges that are influencing the growth and success of economy and business
both, bold reforms needs to be undertaken by international institutes and bodies for building
better future and experiences for the stakeholders related to globalisation and being affected due
to it. The developed reforms and policies should be driven and developed by shared vision along
with relevant sense of purpose, engagement and with the motive of adopting and practising new
cooperative and collaborative approaches. Also, according to the opinion and analysis of Michael
Porter and Mark Kramer, 2018, they suggest global business like JD sports and fashion plc to
rethink their role in society, it is urgent and they have to incorporate a social purpose into their
core strategies and competitive planning. They have suggested to develop a concept of creating
shared value which is a innovative and aligning social issues as a new competitive opportunity
which can create differentiation. These factors needs to be considered by the firm for developing
and improving the impact of globalisation on their growth and success and changing them in
positive manner and outcomes.

Online:
Benefits and Challenges from Globalization, 2017. [Online] Available Through:
<https://www.newyorkfed.org/newsevents/speeches/2017/dud170511/>.
The Impact of Globalisation on Business, 2020. [Online] Available Through
<https://www.n2growth.com/the-impact-of-globalization-on-business/>.
Overcoming the Challenges of the New Era of Globalization Creating Shared Value, 2018.
[Online] Available Through: <https://www.thestreet.com/economonitor/europe/overcoming-the-
challenges-of-the-new-era-of-globalization-creating-shared-value/>.