Globalisation - Essay Example

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Globalisation

This article discusses major implications created by globalisation for Governments, organisations and individuals. The article strongly advocates a neutral perspective, the pros and cons of globalisation. The pro and anti-globalist agenda, challenges faced by governments and its effects on individual organisations have been considered to explain the phenomenon referred to as globalisation. Technology has reduced the communication gaps between geographies. Travelling across national borders has been made easier and as a result doing business internationally has lesser complications in the modern age. The introduction and implementation of International Accounting Standards (IAS’s) and International Financial Reporting Standards (IFRS’s) has made comparisons between organisations appropriate. Comparable and understandable flow of financial information has developed greater trust amongst investors. Formation of European Union, African Union and the Arab League has further cracked open the case for globalisation. Similar laws and regulation prevailing through the Middle East, the common currency usage across Europe and the fusion of cultures has further escalated the pace of Globalisation. Globalisation accelerates the exchange of ideas and commodities over massive distances. Generally it can be held that as economies emerge and adapt to work together, they experience growth and opportunities to expand across national borders. It can also be advocated strongly that increased globalisation has created fierce competition amongst economies, nations, corporations and individuals. ...Show more

Summary

This research will begin with the statement that globalisation refers to strengthening relationship between organisations, governments and individuals across geographical horizons. The term is generally used to regard economic globalisation. …
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