Globalisation of Business Activities

5769 WordsNov 9, 201024 Pages
GLOBALISATION- A BACK GROUND STUDY Globalization has been the prominent buzz word of recent times from America to Europe and the UK to Japan to Nigeria in West Africa this is what is making the world go round and indeed flat. It is common to hear of today’s world economic system as being “globalisation”. Some describe the historical events leading up to today’s global free trade “inevitable”. The UK’S former Prime Minister Margaret Thatcher was famous for her TINA acronym and Gordon Brown the current PM encourages UK global trading by welcoming even more foreign investors. So, whether in the newspaper articles, politician speeches, or business leader press conferences the G-word appears to be the most important issue in contemporary…show more content…
It can be seen that although different aspects of globalisation was highlighted the common unifying factor is that the authors all define globalisation has the process of increasing the connection and interdependency of the world’s market and businesses. They also highlighted the trend towards a greater political, economic, cultural and technological interdependence amongst national institutes and economies. Deriving a definition: For the own definitions the key words and phrases will be researched and used as appropriate. The emergence of the global market, the convergence (coming together) of lifestyle, social values and preferences, the wearing away of state sovereignty, the interconnectedness of human activities as well as global economics and business interdependence. If studied intently it will be discovered that the progression of this key phrases also point to the history of globalisation. I will also have the many dimensions of globalisation evident to construct a definition fit for purpose. For the purpose of this assignment Globalisation will defined as a process and I will also try to show how it has impacted the word as a whole encompassing all the key features. Two own definition of globalisation was developed. Definitions 1.The continuous process of fostering cross border transactions through, the joining together, of national economies, societies, cultures and education, to achieve a worldwide network of individual
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