To begin with, there is irrefutable evidence to show the positive impact of economic globalization across the world. Countries that have opened their doors to international trade and investments from foreign corporations have prospered exponentially. Governments that have adopted relatively similar policies and mindsets of current hegemonic powers, have gained allies and their people have acquired a higher level of freedom and equality. International trade creates countless amounts of jobs, it boosts the development of a country 's
The size of the Irish market also determines the effect it has on an international scale. Ireland invested into FDI and their domestic market to boost their successful economy and focused on FDI attraction to increase the import and export market. According to the WEF report Ireland rank 6th with regards to their export as a percentage of their GDP. 11. Business Sophistication The most competitive economies are those with the most networked and advanced operations and strategies. Sophisticated business practices are conducive to higher efficiency in the production of goods and services.
Franchising as a business model is also well suited for the average business oriented people as it fulfills their love for ownership and control of business operations and they being family-oriented, finds it an attractive plan to pass on the business to future generations. (Yoginder Pal, 2006) International franchising provides employment and income for their employees in the host country, in the sense that cost and availability of supplies most often drive franchisors to source locally, which can increase the positive economic impact on India. (Ilan Alon, 2004) Another important contribution of franchising is the tax revenue that can be generated from it. Raising taxes helps emerging markets like India develop their physical and institutional infrastructure as local companies pay less as compared to international companies since these companies are viewed as efficient and profitable. Furthermore, with a competitive domestic franchising environment, India can revive the service sector and its supporting industries as these sectors contribute a large percentage in the GDP of a country and have a balance of payment surplus in services like the United
The Gross Domestic Product (GDP) of Germany has continually increased, creating a positive slope when the data is graphed. As of 2016, Germany’s economy produced over three trillion dollars as measured by GDP (GDP (Current US$,2018)). Germany, as a percent of the world’s economy, represents about five and a half percent as of 2016 (Trading Economics, 2018). The history of Germany’s GDP dates to the 1970s, when it was their lowest recorded GDP of about two hundred and fifteen billion dollars. From the 1970s until 2016, Germany averaged about one thousand nine hundred billion dollars and reached an all-time high in 2014 with a GDP of about three thousand and nine hundred billion dollars (Trading Economics, 2018).
He offered an idea that how a country might play a game strategically and could be successful in extracting great levels of revenues from trade, by implementing new trade theories. The comparative advantage theory of Ricardian gained a new aspect as Porter emphasized on development of comparative advantage or innovativeness by improving to sustain greater shares of market. Therefore, the idea of productivity that can be work to attain greater levels of international competitiveness (IC) emerged [Porter (1990)]. Indices based on productivity are extensively used in the measurement of competitiveness. As per Porter point of view productivity is the most valuable thought in international competitiveness.
Ireland has become one of most globalized nation for the past couple of years to date. McCabe S. (2013) has mentioned that Ireland has been rated as one of the top three most globalized nation for the past 12 years. According to the world globalization index that tracks the globalization performance of world nations has mentioned that the more globalized the economy the more the country is open to trade, movement of trade, FX gain/loss, human capital, and technology. Ireland has come second in 2013 as the most globalized country. The author has stated “These rankings demonstrate how well positioned Ireland is to build on this brand and grow its fledgling trade links with fast-growing emerging economies such as China and India” which means that
Exchange rate Tourist arrival is an important economic activity close to the world, particularly developing country like Malaysia. The exchange rate makes for a major part in affecting the performance of economic growth. A strong exchange rate also plays as a catalyst in encouraging and drawing in investment (Asid et al., 2014). The established political atmosphere and stable economic growth have made Malaysia one of the best prospects for tourist arrival. A strong economic growth is an essential condition for tourist arrival in Malaysia.
Also, because of globalization international business grown, improved and removed a lot of obstacles when interacting with international markets. Then again, globalization can likewise be a significantly enhancing process, opening personalities to new thoughts and encounters, and fortifying the finest all-inclusive estimations of mankind. For the culture factor is like a code we as a human being live with. It also includes the arrangement of convictions, good values, conventions, dialect, and laws (or standards of conduct) held in like manner by a country, a group, or other characterized gathering of individuals. Globalization truly can affect anything in life both positively and negatively, but due to globalization people changed or because the culture factor changed or got affected by essence time.
As shown, that the Philippines do benefit from entrepreneurship since 57% of the respondents reported that it affects certain aspects of our economy in terms of the following: it allows international trade due to buyers and sellers in the market, invites positive competition because there is a diversity on products and services, it increases our Gross national product (GNP) and Gross domestic product (GDP) by creating new businesses and job opportunities, while lastly, it generally increases human productivity therefore creating a higher standard of living for all. Overall, the data indicates that some Filipinos can recognize the potential of entrepreneurship because in line with the respondent’s answers, they were able to identify certain aspects in it that helps in the economic development of the Philippines. Furthermore, the data gathered also implies that since Filipino are aware of the benefits of entrepreneurship, they are also aware the impact to bears. This could have been the result of the rise of successful entrepreneurial businesses in the Philippines in the past decade, such as Jollibee, Philippine long distance telephone company (PLDT), shoe-mart (SM) and Ayala Corporations because through the accomplishments of these mega corporations, more Filipinos are now encouraged that our country will be more progressive in the future since there is now an alternative for economic