These online sites are providing best deals to the consumer with a vast number of variety options from global market .Globalization has intensified the competition in the market with the fact that there are many new competitors across the world in addition to domestic competitors. Nowadays business is more challenging than ever before due to efficient distribution and transportation system. The making and receiving of payments are faster and more secure with the help of internet or mobile banking. Finances for the consumers and traders are readily available due to globalization of financial institutions. Financial institutions are willingly spreading their capital in the international market to reduce their overall level of risk.
In my opinion, globalization is an important issue, as it allows countries to collaborate politically, socially and economically. As every concept, it has its own negatives and positives, so is globalization. Globalization is important as it is a term of changes in societies and worlds economy, that leads to border movement, new investments, and cultural changes. Globalization process has been used for many centuries, but only in recent time globalization became the most focused discussion. One of the reasons why globalization is important issue is because of the world economic problem and different businesses.
However, the speed of globalization varies from nation to nation and sector to sector. Generally, globalization not only can be seen in the economic activities, it also includes the proliferation of technologies where communications and distribution networks are becoming significant in people’s life. The area that surrounds globalization in our modern era involves Industrial, financial, political, information and cultural globalization. Our world has achieve better growth among all these areas and globalization has become more apparent with the intensification of the greater international movement of commodities, money, information, people and the development of technology, organizations, legal systems, and infrastructure. This has resulted in the existence of certain patterns in the global market, as seen economically, culturally, technologically, as well as legally.
In economic globalization, worldwide market is huge for companies and for customers they have a better variety for products and services from different countries. Although different countries have their specific resources to produce special products, customers now can access these products because of high accessibility. In the view of investments, global marketplace is existed and opened, there is an increase of production sector since there are have plenty of options for investments for different corporations. For example in fast fashion industry like ZARA, its production line are stated in Vietnam and enjoyed lower labour cost. But its products are sold worldwide.
News Analysis: The gap between poor and rich regions in Europe is widening In the beginning of the article itself we find out that the financial crisis and European debt crisis has caused the gap between poor and rich regions in Europe to expand. Globalization is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large outside the home market. Therefore, organizations start operating on an international scale. Advantages of globalization include access to new technology, markets and products. It also provides more employment, better standards of living, stable inflation and better welfare.
Globalization refers to the growing interdependence of countries worldwide through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows, and through the more rapid and widespread diffusion of capital (Guiness, 2011). A long controversial subject in all areas of studies, globalization is an overwhelming force that has swept the world. The strong connectivity that now characterizes ties between countries contributes to enhancing the ease of exchanging products, information, or capital. As the world seems to be shrinking with globalization, we now have a better understanding of foreign
Nowadays business have more freedom of movement whereby they move closer to the place of cheap inputs. It have also increased joint ventures and group of organization coming together with common goal of making profits and accessing the business to bigger markets and associate the cost advantage. Globalization have also led to multinational and multicultural management this is challenging in that the multinational business is more complex to manage compared to others it involves employment of people in various communities, backgrounds religion and cultures and different offices around the world. The employees may relate in quite different way to incentives motivational and it is very difficult to find manager who is very sensitive to these different matters it is very easy for this manager indivertibly give offence and demotivate
In consequence, there were some technological advances that were necessary and that finally reduced the costs of transportation and communication. With the ease of entry of imported products in the country, there was an increase in supply and improved the quality of national products. Thus, imported products became cheaper and nationals had a improves. Besides being a great enabler source of jobs. According to Intriligator (2003) other important advantage is that companies are able to increase their size to multinational and international level.
Globalization will bring many advantages to many countries. Globalization can make many countries closer, the gaps between countries will become smaller. Wars will not happen as many as before. Also, knowledge and technology can be shared all over the world. Just like we can learn some theories that were produced by foreign scientists, our parents can have businesses with foreigners, we can have able to study abroad, etc.
In the contemporary society, there are two terms that always well-known to the public-Globalization and trade. Also, the link between human daily affairs and international trade is becoming much closer, which leads to several significant effects such as escalating the progression of all humankind, improving the contact among people who settle in exotic place and booming the financial situation etc. However, being beset by these factors, the majority of the population is still confused by what globalization and trade are. When it comes to globalization, needless to say, that the act or process of globalizing, especially, the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the