Apart from being a worker, immigrants also play the roles of job creators, taxpayer and consumers. As a consumer, immigrants spend or invest their money in residence and daily necessity which in turn create new jobs and increase the demand for labor. On the other hand, the skills and experience of immigrants and foreigners are required in order to form an open, innovative, and exporting economy (Vince, 2014). Immigrants, who have various kinds of backgrounds and cultures, are beneficial assets for creating original and unique ideas. By establishing new jobs and starting new business, the rising demand of labor and a steady development in the economy could be expected.
By understanding the different cultures, enables the organization to more effectively deal with the influences of globalization, for example, e.g. Political, economic, regulations, etc. Each of these components will exhibit some form of influence depending on the various type's cultures in which the organization’s conduct business. I believe globalization brings more benefits than drawbacks, and I hope globalization will develop more and more better in the
And it is complex to make the Planet Preserve product the bestselling product in international market. The Planet Preserve business needs more experience and skills, knowledge to become mature enough to come in international market. First Planet Preserve business should target to earn profits and money from domestic market because when you export the product in international company, the product will become more expansive for the customers in new country due to sales tax and other commissions.
For example, there is a niche under the broader tourism industry that is called cultural tourism. One of the culture-related benefits of tourism and its niches is that it increases the level of cultural diversity in an area (Russo & Borg, 2002), especially if a spot is popular among foreign nationals. One of the direct results of this is that the locales get a higher level of cultural awareness and competence (MacDonald & Joliffe, 2003). Cultural cultivation and enrichment are just two of the strongest social benefits of agricultural tourism. Raising the rural residents’ quality and standard of life is a potential secondary effect of agricultural tourism.
Some countries might increase slowly, while, some countries might increase rapidly because of globalization. Therefore, this essay will argue that globalization is beneficial for developing countries in terms of economic growth, quality of education and health care industry. To begin with, globalization is beneficial for the economy of developing countries. Many companies have started to look for outsourcing opportunities in developing countries when businesses went global because money can be saved and businesses can become more profitable. (Hill, cited in Jordan, Garland & Owusu-Nyamekye 2014, p. 91).
As this goes on, the revenue of the company will increase and thus the company is able to generate profits to shareholders. Besides that, globalization helps companies to access to larger markets hence firms may experience higher demand for their products and leads to a reduction in average production costs. In the general economic area, the globalization is integrating the world into a global market. Globalization can lead business environment to be competitive. Companies have to pay more and more attention on the customer and market orientation where a company focuses on discovering and meeting the needs and wants of its consumers to satisfy the consumers and maintain the customers’ loyalty, having competitive advantages in the market to be outstanding in the market or industry.
It would encourage greater competition among firms from all over the world. It acts as a spur to the firms to increase the efficiency and shift their resources into new industries to remain competitive in the market. For example, trade liberalisation has been a factor in encouraging the United Kingdom to concentrate less on manufacturing and more on the service sector . Hence, trade liberalisation can boost the economic activity by encouraging competition, investment and productivity among the entrepreneurs from different regions. As a result of that the GDP (Gross Domestic Product) of the member States could be increased and ultimately the welfare of the citizens can be safeguarded.
As the number of tourists looking for this experience expands, the more foreign investment into tourism will increase, and the more the cultural tourism industry will grow, eventually leading to more tourists. This therefore creates a positive feedback in which tourists attract investors and investment into tourism attracts tourists. The need to escape from routine living to an alternative environment perceived as “exotic” and “indigenous” in combination with foreign investment (or in broader terms capitalism) has thus transformed indigenous communities and culture into a commodity for the people of the
ALM Company also produce product such as engine oil, filter and etc. • ECONOMIC FACTORS - Petrol prices have on average been increasing and they are likely to grow until the petrol runs out to possible positive impact on the public transport industry. ALM Company relate to changes in the wider economy. A growing economy provides greater opportunities for businesses to make profit, so business welcome rising living standards. • SOCIAL FACTORS - Growing population and numbers of visitors/tourist/immigrants imply increasing demand for transport services to possible positive impact on the public transport industry.
Economic growth is an increase in a country’s capacity to produce goods and services. This occurs when there is a rising demand and an increase in productive capacity. Economic growth in a nation can have several impacts. For example, it can reduce the amount of poverty which leads to people having a higher quality of life and better living standards. Economic growth will give the country more income which means that the government are able to spend more on healthcare, education and technology.