Globalisation of Business Activities

Define and explain globalisation, then critically evaluate and illustrate the impact globalisation has had on a particular business, the industry it operates in, its country of origin and the country or countries the business has expanded into.

Globalisation is the growing collectiveness of our world economy, tending towards functioning as a singular entity opposed to multiple separate constituents (Longman,2002). Globalisation is not a modern process, and has been taking place for a considerable length of time as stated by Ellwood (2001:12) ‘Globalisation is a new word which describes an old process’. The process itself is fuelled by human innovation and technical progress, this in turn is spearheaded by sizable companies referred to as multinational or transnational companies (MNCs or TNCs), in an effort to expand their operations these businesses expand their global reach in search of new business opportunities, resulting in an interconnectedness between an expansive range of economies. This essay aims to assess the causes of globalisation as well as analysing its effects, not just economically but on a cultural and political level.

Globalisation is the process of integration of national economies through international trade of markets in goods and services, international trade in assets, and international spread of ideas, from consumer tastes to intellectual ideas (Frankel, 2006).

Globalisation refers to the process of interaction and integration among the people, companies as well as governments of countries around the world, particularly in terms of trade, investment and technology. The process of globalisation, has profound impacts on the environment, culture, political systems, economic developments, prosperity and human physical well-being in the societies around the world.

Globalisation- Globalisation is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in

Globalization is the process by which different societies and cultures integrate through a worldwide network of political ideas through transportation, communication, and trade. Generally, globalization has affected many nations in various ways; economically, politically, and socially. It is a term that refers to the fast integration and interdependence of various nations, which shapes the world affairs on a global level. Simply put; globalization is the world coming together. In this essay I will discuss multiple perspectives on globalization through the analysis of these three sources.

‘Explain the meaning of globalization and discuss critically, illustrating with examples, the impact globalization has had on a country, industry, or business of your choice.’

Globalisation is a channel by which the world is rapidly connected due to massive trade and culture change .It has increased the development of goods and services. Many countries around the world now have subsidiaries rather than national firms. It has taken hundred of years to establish itself but has raised in the last half of the century. The international trade has increased due to the presence of globalisation. The companies started to operate in more than one country because of it. The global economy started heavily depending on globalisation. The movement of capital, services and materials

Ghemawat (2007) detailed that globalisation is more than just a powerful economic and political transformation it bound people, countries and market closer. It is a growing network of different companies, groups, and individual. Globalisation has shrunk the world from size small to size tiny and flattened the world.

Due to globalisation people are more connected around the world than ever before. Global manufactured goods and services that are produced in a certain part of the world are increasingly available in all parts of the world. Also, international travel is more frequent and international communication is commonplace. “Globalisation is an economic tidal wave that is sweeping over the world.” It can’t be stopped, and as a result there are countries that are winners and losers.

Globalisation can be defined as the movement toward economic, financial, trade, and communications integration by countries and their populations globally. It is a constant process and it has resulted in the intertwining and generalisation of the needs and wants of people

In this essay I will give a detailed explanation of what sociologists mean by the term ‘globalisation’ and how they have tried to explain it.

Globalisation is the process of interconnecting people, companies and countries as a result of economic trade and cultural exchange. Due to globalisation, the production of goods and services has increased (at a larger scale) in large scale. The large companies of a country have grown to be multinational companies establishing its subsidiaries in different countries to generate more wealth. Economic and cultural globalisation are different types of globalisations. Economic globalisation involves interdependence of the world’s economics which can be expressed in the flow of goods, services, capital, technologies and information. It involves reducing or removing barriers that come across the free movement of trade, investments and

Globalisation is subject that has been well discuss over the years and there have been many different definitions of it. for example, some describe it as “a process by which the world is becoming increasingly interconnected because of massively increased trade and cultural exchange” (BBC). Another definition is that “a process of interaction and integration among the people, companies, and governments of different nations” (Globalization 101). However, globalisation is not a new phenomenon or something that has just been happening for a few years, people have been trading for thousands of years, one example is the famous Silk Road which runs across Central China and connected China and Europe in the Middle Ages (globalization 101), but it is in the last century that this globalisation phenomenon has been growing at a fast pace (Nassar 2007:2). Therefore, we can all agree that the term Globalisation has been use to describe the integration of different topics such as the market, values, environmental and political concerns that different nation may have across the globe, for example the technological and economic development which help western manufacture companies to produce their goods using cheap labour from Asia, or the political issues which helps to regulate “international corporations and the privatization of state assets in order to meet the requirements of the IMF and World Bank” (Aas, Katja Franko. 2013:3, Nassar 2007:2). One of the main reason for globalization or global integration is to generate higher profits and the desire for greater economic success and better future for everyone. (Nassar 2007:2)

A definition of “Globalisation” would be that : “Globalisation typically refers to the process by which different economies and societies become more closely integrated3.”