Impact of Globalisation on the Music Industry Essay

Decent Essays

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.

In this paper I will be discussing how globalisation has impacted the Music Industry in recent years, and in particular the multi-national giant Universal Music Group (UMG). Globalisation is a noun that is hard to define; it has many definitions depending on which scholar you talk to, which dictionary you reference, and the viewpoint you take. The Oxford dictionary will tell you that globalisation is “the process by which businesses or other organisations develop international influence or start …show more content…

It is the transformation of relations and activates (business and otherwise) between countries that leads to the sharing of information, skills, knowledge and capital across the world and increased mixes of culture. There are six main aspects of globalisation are said to be international trading, global production of products and investment flows, migration, communication flows, cultural flows, and finally rapid and extensive technological change. All of these things have aid people, and businesses, because the introduction of a global marketplace means that people have become able to showcase their personal skillsets, products and services to worldwide bidders.

The flow of capital across boarders has increased as globalisation has occurred; this has meant that employment has been facilitated as companies grow in stature. Companies in more economically developed countries begin to employ members of less economically developed countries because of the potential for cutting the costs of employment dramatically, due to availability of people in these countries and their willingness to work long hours for much less money. Although this often seems like a great idea to the conglomerates that see it as the chance to increase their profit margins; it can be seen to be unethical, and could lead to brand damage if

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