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.
A lot of migrates hold up our economy, therefore without it the countries could break into chaos. Social reasons include diversity in the country, and the mix of cultures providing new and different though unique ideas from all over the world. Also it provides a sense of freedom, and gives people more opportunities in careers, and lifestyle. It provides a sense of freedom
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.
They are able to lead with empathy, reward accomplishment with autonomy, and seek winning solutions for all stakeholders. The Society as a whole is increasing their interest in the social and ecological impacts of business. It makes it imperative for companies to consider the broader value and overall cost of their strategies. It has become very difficult for the leaders to ensure that the social and the economic vectors must get aligned as the trust in the business has been eroded steadily.As the industry cannot neglect its internal as well as external customers which are the part of the society so they have to regain their confidence enhancing their creativity and passion in pursuit of advantage. The diversifications of nature of competition have made this
Furthermore this clarifies the ongoing process through the way countries and people communicate and integrate. In which has caused impacts to the world in numerous of ways i.e. socially, economically and culturally. For instant globalisation is seen as a means for economic development. This refers to the integration of “the domestic economies with the world and the inevitable consequential increase in economic interdependence of the countries through trade, financial and investment flows, freer factor movements and exchange of technology and information.” (Ogbabu & Ameh, 2012, p.49).
The reason of the expansion of the regional trade agreements is that FTA reacts to the changes of world economy fast and serves as an important component of trade strategy to achieve significant economic growth. It is very important to examine the benefits that FTAs give to countries because it offers clues why Korea proactively forges FTAs. Benefits of FTA FTA opens up new areas to competition and innovation by contributing to improvement of productivity. It provides better jobs, offers investment opportunities and help inducement of foreign investment. Since keeping their agreements I the base for international trade among traders, FTA create more stable environments for countries and companies to trust each other.
Diversity is generally defined as accepting & valuing the differences among people in terms of ethnicity, class, gender, skills, abilities and age. In today’s world due to globalization of markets the workforce are increasingly becoming heterogeneous. Diversity in progressive organizations is gaining much attention & they are spending huge amount on diversifying their workforce. Thus diversity has been recognized to be the most important organizational resource to gain and maintain a competitive edge (Richa, 2013). According to many studies diversity can help organizations in many ways like in creativity, better understanding competitions in the market, solving problems effectively and strengthen the organization (Fabrice & Emmanuel, 2013).
I am convinced that globalization provides many benefits for us as individuals but also for every country in the world. Many professionals, economists and politicians align that the process of globalization is a huge benefit for economies worldwide. Through this process different trade markets are getting more competitive but also efficient at the same time. It balances the unequally between different countries and prevent eventually some military conflicts. The Milken Institute’s Globalization of the World Economy reports that even if there are many benefits regarding the globalization, there are still several risks which should not be underestimated by investors or governments.
This approach totally focuses on the consumers which help to provide a new and different view of planning, developing and implementing a program for marketing communication typically known as IMC approach. Through this approach the organizations could acquire knowledge through understanding consumers and certainly accommodate the effective means for implementing communication and marketing. Marketing relations helps in building frequent conversations between stakeholders and organization and that result in increased trust (Shank, 2014). Communication, therefore, builds a rapport that is very profitable in retaining clientele. It also offers unique ways through which planning can be made because its operation is backward.
Introduction Communication is the main elements of communication process. It is extremely important to transmit messages to others clearly and unequivocally. It is also inestimable in personal life and the global of business. Communication is a definitely must from business perspective because it sees the differences between success, failure, loss, and profit. An effective business communication is severe to a successful operation of an organization.