Globalization's Influence on Business: Strategies and Challenges

This report analyzes the multifaceted impact of globalization on businesses, exploring both its positive and negative consequences. It begins by defining globalization and its influence on businesses, including the role of multinational companies, foreign direct investment, and the challenges of economic crises. The main body of the report delves into a literature review focusing on the impact of globalization on business functions, such as increased competition, technological advancements, and employment opportunities. It also examines negative aspects like job insecurity and price fluctuations. Furthermore, the report evaluates the role of globalization in enhancing growth and expansion opportunities, using Sainsbury Plc as a case study, highlighting factors like financial, career, and professional growth. The report concludes by identifying strategies for businesses to mitigate the negative impacts of globalization and capitalize on its benefits, emphasizing the importance of employee competencies, consumer engagement, and effective leadership.

Research methodologies
Table of Contents

CHAPTER 1: Introduction..............................................................................................................1
CHAPTER 2. Main Body of literature review.................................................................................1
CHAPTER 3. CONCLUSION........................................................................................................5
REFERENCES................................................................................................................................6

CHAPTER 1: Introduction
A report is based on the globalisation influence where the strategies and factors which are
determining towards the development or as in another words that enhance the positive and
negative side of globalization integrate the companies through new rules and regulations or by
getting presence of new compliances which scrutinize by the government and implement after
analysation about the betterment of the ventures or industries where they can improvise and
gaining the lot of opportunities (Coe and Wrigley, 2017). It also gives the challenges to which
has been face towards the conflicts or barrier in terms of inflation, not generating appropriate
profits and by diminishes the flow of economic crises etc. as this it is the part of the negative
phase of globalisation where the economy as well as the business ventures faces the demerits of
this implementation. As with the context of Multi-national companies the role and impact of
globalisation is different as it shows the profit side as well as negative side in which it make the
whole procedure into demoralized as well as enhancing with the new outcomes that proceeds the
activities as improvisation in products, technology as in new numerous updates that making a
benchmark and also enhancing the flexible routine of human life or increase the mobility to
implement the new aura of changing lifestyle and getting new opportunities through
globalisation. As it allows the investments such Foreign Direct Investment towards the economy
where these investments influence to motivate the corporate companies as well as banking sector
where it helps to promote the money making strategies.
CHAPTER 2. Main Body of literature review
A literature review is generates the comprehensive and a summary or description about
the research topic on the basis of the reviewing the articles, books and online server or websites
which reflect the relevant sources which associated to the particular research. The literature
review or analysis is formatting for the attaining the requirement and determining the nature of
current topic. As for the topic on which literature review is conducting is To determine the role
and impact of globalisation on business function of an organisation.
a) To study about the impact lead by globalisation in overall functions of an organisation.
According to the Arpan Ganguly, 2017. As the opinion of this topic of globalisation is
impact on the business is to taking as the factor of increasing the competition in the market
between with competitors when there would be more foreign direct investment takes place and
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floating in the countries premise, where big enterprises are allowed to making the investment
into their favour which bring them profits, global or international partnership which helps to
making collaborate also enhanced the merger and joint ventures to making the associated cost
advantages (Rabine, 2017). As with the perspective of the organisation point of view it makes to
implies about the benefits and non benefits factor of globalisation where they try to scrutinize the
implication and enhanced into organisation as per their premises. Some of te factor which are
considerable towards the globalisation are as follows:
Competition: A globalisation is leads towards increase of the tuff competition in the business
as many big multinational companies came to fight in the market having the clashes for the new
opportunities in terms of foreign tender, collaboration which brings the new outcomes as well as
the new development criteria in the organisation where they try to improve their standards and
consumer benefits which has positively effect the people globally.
Rise in technology: Globalisation is also allowed to making the enhancement of new
resources or level of technology assorted in today’s world. Many entrepreneurial and
internationally oriented firm has been obtained with the help to technology to exploit upcoming
latest business opportunities. As now a days E-commerce has turned over the business life style
into another level where people are more connected as well as actively participate into this
technology.
Employment: An employment is getting generates through the globalisation where many
new upcoming new ventures in the market they established or new start-up companies facilitates
the employment for the economic as well as it increase the growth with facilitate the opportunity
towards the youths population (Khan and et. al., 2018).
(there is a another phase of globalisation which consisting the negative factor)
Job Insecurity in business: In developed countries, the risk of job insecurity is
increasing. Globalisation has led to firms outsourcing their jobs to developing countries, which
have led to lesser jobs in developed countries. Outsourcing occurs because businesses want to
manufacture their products at a cheaper rate, which is possible in developing countries. As
mentioned earlier, jobs such as software programmer, accountant etc. are outsourced to
developing countries which has led to a lot of people in the same profession to lose their jobs.
Fluctuation in pricing: There is a bad phase about the economic which is deliver by
globalisation that by influencing through this it comprises the changing in prices can distract the
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human needs Due to increase in competition, business firms in developed countries are forced to
lower their prices for their products.
b) To evaluate the role of globalisation in enhancing growth and expansion opportunity with
the context of Sainsbury Plc.
According to the Sarah Klongerbo, 2019. The major role of the globalisation in
enhancing the growth and expansion towards the generating the opportunities for the
organisation where they regulates the monetary benefits and promote new policies which brings
the benefits for the organisation as well as the new technologies that helps to making the
benchmark towards the organisation growth where it making the functional development and
operational development. As with the context of the Sainsbury Plc company is the super market
retail venture where it based on United Kingdom and help to maintaining the customers and
delivering the optimum product related to the groceries and other basic home décor things that
implies in the stores of Sainsbury plc which is overall countries. The factor globalisation which
having impact on the perspective of Sainsbury company would be like as follows:
Financial Growth: It is the one of the most determining factor that is people perspective
when they think about the career development. Formally, employees gets motivates only when
organisation is reliable to pay the wages or salaries as per their expectation or the possibility of
increased in income, when the deliver exceptional performances and provide them to high phase
of outcomes (JAIN, 2017).
Career Growth: As the power of prestige is very essential in the organisation where it is
the part of the individual will still want the growth in the sector of career to attain more
significant duties, more impressive jobs, bigger offices etc. By enhancing of career growth of an
individual provides the direction where it helps to generate their career hierarchy.
Professional growth: the growth of professional is comprising the internal promotion in
organisational premises where employees invested effective skills and in return it provides the
favourable outcomes on which that company having a capability to facilitates the incentives and
making the goodwill accomplish by an individual by giving the optimum performances
(Vellinga, 2019). The best part about providing opportunities for professional growth is that it is
mutually beneficial — employees get to feel more competent, and employers get to have more
competent employees.
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c) To identify the best possible strategies that can be adopted by Sainsbury to mitigate the
negative impact of globalisation to have better success and expansion of business.
As per the opinion of the Anouk De Blieck, 2016. The implementation of the strategies
which acne be adopted by an company or organisation where they want to reduces the negativity
power from the organisation as it implementation towards positive influence of the globalisation
where employees and work process would focus towards the goal of organisational which has to
accomplish by managers and employees who are pursuing for it. With the perspective of
Sainsbury Plc company having the impact of globalisation which is consisting the negative
impact that allows where it allows the reducing he productivity as well as the decrease in growth
which is why to adopt the positive strategies of globalisation to making enhance of better
success such as follows :
By having the well groomed and better competencies of employee are having effective
way of presentation towards the handling of clients (Anderson, Asche and Garlock, 2018). By
this formation of changing in globalisation as in dynamic format within the relation between
clients and employees to constructing the positive trust and self motivation can accept the
changing in business scenario. As per the elaboration of three ways that tehre is existence of
organisational change can bring a benchmark are as follows:
As be touch with the consumer: As per the creating of the diversity inclusive the force to
connect with the consumer through enhancing the development within the employees who are
working, better efficient of traits and knowledge to serve the clients as it make the task
accomplishment in efficient way of process(Guo, Jiang and Shen, 2019). As it will allows the
productivity which implies on organisational growth.
1. Pursue work as in individual: A better connection between workforce and consumer will
be the successful accomplish the task in a better coordination way, there would be a
effective forming relationship between employees and clients as they get to solve their
grievances as per comfort manner as well as to having the contribution of positive way f
trust and mutual understanding between them (Robinson, 2018). Through delivering the
optimum service or product to customers is becoming more complex. Enhancing the
proper differentiation is no longer about price or location but service and solutions.
Collaboration across geographies is required to make a difference. Creating cultural
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awareness and respecting different cultures is part of this journey. Creating joint
ownership and accountability is also extremely powerful (Rourke, 2018).
2. Having a Effective quality of leadership: By attaining to approach every task objectives
which are more easier or crucial needs a effective understanding or making stimulus
where to provides the key aspects of managerial leadership quality to get gain the
knowledge to accomplish the task, where it is important to have alert for the perspective
of managers who makes the implementation of changes. (Wicaksono and Manning,
2018).
As per the above discussion of the adopt of the strategies about the globalisation to getting
resolve from negative influence and implement of positive influence in the organisation
premises by implies of better assorting factor towards the globalisation through provide sthe
optimum guidance where the employee get to learn and assort the tools and techniques to
implement the globalisation aspect as per the context of Sainsbury Plc company.
CHAPTER 3. CONCLUSION
According to the various author and reviews of literature about the topic of Globalisation
in organisation perspective where it comprise sin retail industry to making the presence of its
positive factor as in terms of growth, opportunity related to the market exposure, getting new
employment generation as well as the enhance the development of the organisation structure to
the next level, but there is negative factor which can make the slow down in the economic based
criteria that it can make the changes about the pricing, can be new policies not be favourable in
aspects of the organisation factor or their expectation will not be fulfilled as per the need of the
employee workforce and their productivity where they get engaged and putting lot of efforts into
it. As before the introduction was describing how the globalisation as well as its implication
brings the changes in the economic where it regulates and assorted by government where they
analyse the globalisation aspect can be positive or not. Through Foreign Direct Investments are
the sources in which this type of regulation changes the poilcies and norms which having impact
in the economy now it can be favourable or non to be favourable for them. Multinational
companies like to having their clashes between their competitors on which they regulates the
optimum factor of globalisation aspect into their premises as it enhance the ample of
opportunities that has to grab or accomplish by those big companies as to having the aiming of
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getting high outcomes as well as to returning the small contribution towards the society and
economic agendas.
REFERENCES
Books and Journals
Coe, N.M. and Wrigley, N., 2017. Towards new economic geographies of retail globalization. In
The new Oxford handbook of economic geography. Oxford: Oxford University Press.
Rabine, L.W., 2017. Globalization and the Fashion Industry. Retrieved November, 1.
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Khan, N and et. al., 2018. The effect of ICT on CO 2 emissions in emerging economies: does the
level of income matters?. Environmental Science and Pollution Research. 25(23).
pp.22850-22860.
JAIN, M., 2017. GLOCAL FASHION: IMPACT OF GLOBALIZATION ON INDIAN
GARMENT AND TEXTILE SECTOR. CLEAR International Journal of Research in
Commerce & Management. 8(9).
Vellinga, M., 2019. The dialectics of globalization. Routledge.
Anderson, J.L., Asche, F. and Garlock, T., 2018. Globalization and commoditization: The
transformation of the seafood market. Journal of Commodity Markets. 12. pp.2-8.
D O'Rourke, A., 2018. The world apple market. Routledge.
Wicaksono, T.Y. and Manning, C., 2018. 11 Globalisation and labour: the Indonesian
experience. Indonesia in the New World: Globalisation, Nationalism and Sovereignty,
p.201.
Robinson, G.M., 2018. Globalization of agriculture. Annual Review of Resource Economics. 10.
pp.133-160.
Guo, S., Jiang, L. and Shen, G.Q., 2019. Embodied pasture land use change in China 2000-2015:
From the perspective of globalization. Land use policy,. 82. pp.476-485.
Online:
Arpan Ganguly., 2017. The Effects of Globalisation on Businesses. [Online]. Available
through:<https://www.ukessays.com/essays/management/effects-globalisation-
businesses-2964.php />.
Sarah Klongerbo., 2019. Motivate Employees with Opportunities for Growth at Work. [Online].
Available through:< https://9clouds.com/blog/dont-hold-us-back-motivate-employees-
with-opportunities-for-growth-at-work/>.
Anouk De Blieck, 2016. Sources to adapt to globalisation and the changing workforce.[Online].
Available through:< https://bluenotes.anz.com/posts/2016/02/five-ways-to-adapt-to-
globalisation-and-the-changing-workforce>.
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