Report on Global Factors and Current Issues Impacting Businesses

This report examines the implications of global integration on business organizations, highlighting challenges such as differences in language, culture, regulations, local economies, and consumer preferences. It discusses how the global economy, particularly advancements in technology and the emergence of new markets, affects business strategies. The report also explores the role of Information and Communications Technologies in facilitating globalization by improving communication, networking, and marketing. Furthermore, it analyzes the impact of international trade on domestic products and services, noting the increased competition and the need for quality and competitive pricing. The report concludes by referencing key sources on global business and cultural dimensions.

TASK 3
Impact Of Global Factors And Current
Issues On Businesses Operating
Internationally

Implications of Global Integration On Business
Organisations
Global integration refers to coordination and monitoring the
operation of business at an international level. It has become
challenge for the companies which are operating internationally. The
way of working of organisation differs from country to country which
is based on the following factors:
Difference in language, culture and regulation
Local economies of the country
Different taste and preference

Global Economy Affects Businesses
The global forces have a considerable impact on the
business environment which tends to describe the
behaviour towards its competitors and interaction with its
customers. Globalisation has caused the business to devise
new strategies to sustain in the market. Few of the effects
have been highlighted underneath:
Progression in Technology
Emergence of new markets in the economy
Encouragement of environmental friendly practices.

Information and Communications Technologies
have facilitated globalisation
The development of Information and Communication
technologies have connected different markets It has improved
the operations and functioning of the company in the following
manner:
Facilitate communications and better customer services.
Enabled more extensive networking and co-operation
among firms.
Facilitates accurate records.
Marketing and promotional tools.
Online sales

International Trade Can Affect Domestic
Products And Services
International trade have a great impact on the domestic goods and
services. Due to heavy competition, company have to provide quality
product and services at the competitive price. As a result of
international trade, many small business man have to shut down their
business as they don't have enough resources to survive in this
competitive world. International trade have effects on the domestic
goods and services in the following ways:
Impediment in the development of Home Industries
Import of harmful goods
Storage of goods
Improved the quality of domestic goods and services

References
Hill, C . W., Cronk, T. and Wickramasekera, R., 2013. Global
business today. McGraw-Hill Education (Australia).
Ferraro, G. and Brody, E .K., 2015. Cultural Dimension of
Global Business. Routledge.
Cimoli, M., 2013. Developing Innovation Systems: Mexico in a
global context. Routledge.

Thank You!