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Globalization

The document discusses globalization and how it allows businesses to expand internationally. Globalization provides opportunities for economic growth but also increases competition. While it has benefits like increased customers and access to new markets, globalization can also negatively impact local businesses through greater competition. Overall the effects of globalization are seen as both positive and negative.

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21 views1 page

Globalization

The document discusses globalization and how it allows businesses to expand internationally. Globalization provides opportunities for economic growth but also increases competition. While it has benefits like increased customers and access to new markets, globalization can also negatively impact local businesses through greater competition. Overall the effects of globalization are seen as both positive and negative.

Uploaded by

bakhytnur janat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Globalization

What is globalization?Globalization is the process by which businessmen take their business


to the international level.With this, business increases from one country to many countries,
so that that business will get the benefit of international technology.Globalization generally
means expanding the service sector of your business to other countries.If a business takes
its work internationally and establishes it in another nation, it requires huge international
investment; globalization impacts a business or company in many ways.The most important
thing it makes more customers of a business because it can deliver products to other
countries as well as to their country.With this, if one sets up a business in countries like
China, then there is an advantage of the cheap labour rate and it reduces the cost of
production.So globalization is beneficial for business.When we take an object to the whole
world, it is called the globalization of that object.We can also call it an independent and
interconnected market, free from time zone and national territory.For example,KFC in most
countries of the world today is a living example of globalization.It started with one country
and now it is in many countries; a business desperately needs a better strategy to grow on
such a large scale.Although it is difficult to determine whether globalization is beneficial or
harmful for a decade.If we see the benefits, then this gives new opportunities to the business
and with this, the customers of a country have more options.Along with this, if one of its
countries has losses, then we see that due to the arrival of international business into a
country.The competition of the businesses of that country increases, which affects their
revenue; thus, globalization is thus beneficial and harmful to the country.Globalization has
occurred very rapidly in the last few decades resulting in economic, social, political and
cultural integration around the world through advancement in technologies,
telecommunications, transportation, etc.Although it has affected human life in both positive
and negative ways; its negative effects need to be addressed accordingly.
Globalization has contributed greatly to economies around the world in many positive ways.
An incredible advancement in science and technologies has given businesses an amazing
opportunity to spread easily even outside the territorial boundaries.
Due to globalization itself, there has been a huge economic growth of companies.
They have been more efficient and thus have given birth to a more competitive world,
competition in quality of products, services etc. has resulted in growth.
Successful companies in developed countries are setting up their overseas branches to gain
locally through lower-cost labour than their home countries.
Such business activities are employing the people of developing or poor countries and thus
paving the way forward.Along with the positive aspects of globalization, the negative aspects
are also not forgettable.There has been a risk of epidemiological diseases through transport
from one country to another; however, the government of all countries has had proper
control over globalization to minimize its negative effects on human life.Globalization is a
term used to describe how trade and technology have made the world into a more
connected and interdependent place. Globalization also captures in its wide the economic
and social changes that have come about as a result.

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