Impact Of Globalization On Business Environment

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Every now and then disruptive events happen in the business world such a technological change, industry changes, market changes or even societal changes that greatly impact the continual success of a business. More so we live in era where these changes are only accelerating increasing uncertainty and the growing complexity of the business world. Economic power continues to shift eastward and different markets and trade linkages are emerging causing the boundaries between industry and sectors to blurring. Discontinuities and megatrends are an inherent part of today’s business environment and it is important the businesses assess the impact of both these concepts on their strategic objectives and daily operations of the business in order to stay ahead in today’s competitive environments. Most importantly CEO’s need to be at the head of the business’s strategic objectives to ensure that the business remain on track and able to quickly adapt to these changes in the environment. Changes that are described as rapid, abrupt and volatile are often termed as discontinuous changes because they result in sudden and overwhelming changes in the world (Wilson 1976; Pullen, 1993). Discontinuities are the product of discontinuous change and create products that are obsolete because they no longer fit in with the expectation of the world and the consumers that purchase them, or it can create them, as there is a pragmatic switch to the requirements of society (Deeg, 2007). Discontinuities
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