Task 1 1.1 - Describe the benefits of personal and professional development There are many benefits to personal and professional development. Firstly, it helps the individual get sense of direction. The individual gains self-awareness, meaning they are clearer on where they are and what they want to achieve. They also gain an understanding of the organisations plans and expectations for them. Secondly, because the individual now has clarity on their goals and how to achieve them, focus and prioritisation becomes easier.
When capital markets are enables to offer funds, increase the risk of competitive entrants. The industry will becomes a magnet to new if a firm have a very high profit. Unless got way we can solve this problem if not the competition and competitor will increase. Firms in an industry try to keep the new entrants low by barriers to entry, first is economies of scale. An economy of scale is when an industry is characterized by large economies of scale for new firms to enter and participate, if they are willing to accept a cost disadvantage.
Firstly, the fierce competition due to globalization has severely affected the way companies operate in today’s business world. They need to respond faster to changes and be ready to satisfy the rapidly changing needs of their customers. Secondly, the quick pace of technological improvementshas made it impossible for organizations to keep up with all this technical expertise required. Finally, companies nowadays are expected to be in the forefront producing technical, complex products to meet their clients’ needs (Hopper, Northcott&Scapens,
In the late 1980s, globalization theory started to emerge as the new forms of capitalist hegemony appeared (Savage, Bagnall and Longhurst, 2004). Globalization is a process of encouraging closer political, economic, social interaction and break down or reducing the trade barriers between countries (Mittelman, 2000). It can be divided into two main categories: globalization of markets and globalization or production. Globalization of markets is a process of the worldwide market integration and has created a global market place (due to countries are reducing trade barriers). For example, in this 21st century, products that we consume or access are no longer from just one person, company or place but globally as the presence of the global market
So, this has showed that the globalization has play a very important role in affecting the income inequality in this global. Next, Technological changes rapidly and categories between labour. Due to the rapid growth of technology, the distance of income inequalities become far and far. New information technology has led to improvements in productivity and well-being by leaps and bounds, but has
Companies go international for a variety of reasons but the typical goal is company growth or expansion (Katarzyna Twarowska, 2013). The company expansion brings challenges to accountant profession. They need the skill and knowledge in order to face and deal with the global business environment. Global business environment include the foreign market entry, managing segmentation supplier, supply chain management and human resources. Several factors are considered to be important in assessing the potential attractiveness of a foreign market: market size and market growth.
Leadership, by contrast, is about coping about change. Part of the reason it has become so important in recent years is that the business world has become more competitive and more volatile. Faster technological change, greater international competition, the deregulation of the markets, and overcapacity in capital-intensive industries……. and the changing demographics of the workforce among the many factor that contributed to this shift. More changes are more and more necessary to survive and compete effectively in this new environment.
The world was made to size tiny with further improvement of computer software and internet. The way of trading changed drastically. New types of business such as E-business represented by Google, Yahoo and Amazon came into the global market. But, at the same time, the automation of jobs assisted by the technology resulted in rising unemployment. There is also a big shift of the business field from west to east.
It has been part of the movement of history. Globalization has ensured that the old distinctions between international and domestic policies are becoming increasingly irrelevant.7 Globalization “refers to processes whereby many social relations become relatively delinked from territorial geography, so that human lives are increasingly being played out in the world as a single place”.8 Steve Smith and John Baylis conceive of globalization as “the process of increasing interconnectedness between societies such that events in one part of the world more and more have effects on peoples and societies far away.9 Ramesh B. Karky could not have stated the position better when he said succinctly, “it is hard to get a single definition of globalization.”10 The International Labour Organization defines globalization as a process of growing interdependence between all people of this planet. According to them, people are linked together economically and socially by trade, investments and