Globalisation can be defined as the process where different countries across the globe join together in economic activities and can trade freely as a result of the removal of geographical boundaries. This economic activity taking place across the national boundaries is a…
It should be noted that there are quite a number of key players that drive globalisation and these include the multinational corporations, World Trade Organisation (WTO), World Bank and International Monetary Fund (Rodrick 2001). Different governments are also key actors as they authorise trade to take place between them and the multinational corporations intending to invest in their countries. They are very instrumental in determining the outcomes of trade and investment between the states involved as they would be responsible for regulating the operations of the multinational companies. The WTO also plays a pivotal role in that it facilitates the platform through which international trade agreements are negotiated and enforced among member states. On the other hand, the World Bank and the IMF are major actors in that they provide with loans as well as technical assistance to the governments or multinational corporations that wish to invest in other different countries.
2. The manufacturing sectors in different countries seem to have rapidly expanded on a global scale and the three major drivers that seem to have accelerated the trend of globalisation in this sector include the government, cost, market and competitive. In the manufacturing sector, it can be noted that it is expensive to manufacture certain products in other countries as a result of availability problems of raw materials, transport costs involved as well as labour costs. Against this background, various multinational companies prefer to establish their manufacturing business in areas where raw materials are readily available and in some cases where there is availability of cheap labour.
The market drivers are particularly influenced by per capita concentrations in industrialised countries where they seem to have greater control of the means of production hence can determine the ...
Cite this document
(“Globalisation of business activities Essay Example | Topics and Well Written Essays - 2250 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/395724-globalisation-of-business-activities
(Globalisation of Business Activities Essay Example | Topics and Well Written Essays - 2250 Words)
“Globalisation of Business Activities Essay Example | Topics and Well Written Essays - 2250 Words”, n.d. https://studentshare.net/miscellaneous/395724-globalisation-of-business-activities.
The paper discusses both positive as well as negative consequences of economic globalisation in order to identify the debatable issues along with the current state affairs. The responses towards economic globalisation by various policy makers and the corporate houses will also be depicted in this research paper.
The paper indicates that Strinidal (hypothetical) is a poor country with an average per capita of $2000 at market exchange rates, its population is only 40 million. The paper also reflects that the nation’s export base is very weak and this situation imposes serious threats to the Strinidal’s economic growth. This paper will critically analyse the World Bank’s suggestion for globalisation in Strinidal.
This process facilitates effective circulation of ideas, languages, and cultural ideologies. Nations today tend to liberalise cross-border trade regulations as they realised the significance of increased cross-border trade for international business expansion.
Economic and political changes have resulted into reduction of barriers to trade at international level and more intense competition. Consequently, there are increased financial flows such as foreign direct investments, technology transfers and portfolio management across international borders.
According to Rothenberg (2003), “globalisation is the acceleration and intensification of interaction and integration among the people, companies, and governments of different nations” (pp: 1). Today, with the altering viewpoints, globalisation has emerged as “neologism of the new millennium” (Putko, 2006: 1).
Hence we are faced with either a process or a strategy, and they are not the same.
Trade, investment, finance and labour are the important elements of world economy. Globalisation is the expansion of these economic activities across
KFC in China, Spanish movies played in India are signs of globalization. For companies that serve multinational and different countries, the best strategy to be used is globalization.
‘I conclude, therefore, that when a prince has the goodwill of the people he must not worry about conspiracies; but when the people are hostile and regard him with hatred he must go in fear of everything and everyone. Well-organized
Joshua supports the environmental group FATE, while his own father supports the genetically-produced FutureMouse. Samad’s twin sons, Magid and Millat, also believe in different goals; the eldest is one with Marcus and his scientific future, while Millat
The phenomenon embraces the models and theories from finances, political paradigm, anthropology, sociology, and idealism.
The process of Globalisation dates back to the 15th century with the fruition of capitalism, and consequently stretched to other parts of the world. The
8 Pages(2000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Globalisation of business activities for FREE!