MNG 00723 Assessment 1: Short written response (20 marks) 1500 words Due: Monday 9 am Week 5 Answer the following 3 questions (each approximately 500 words): 1. What is globalisation and how does it...

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MNG 00723 Assessment 1: Short written response (20 marks) 1500 words
Due: Monday 9 am Week 5
Answer the following 3 questions (each approximately 500 words):
1. What is globalisation and how does it affect domestic businesses? In your response, include a definition of globalisation, and discuss at least three positive and three negative impacts of globalisation. (6 marks)
2. Explain Factor Proportions Theory and International Product Cycle Theory. Also discuss one limitation for each of these two theories using real examples. (6 marks)
3. Donald Trump, president of United States of America, announced the imposition of tariff on Chinese imports in the recent past. Based on your understanding of the first 3 topics of this unit, (i) what could have been the reason/logic behind such a comment/decision, and (ii) what are the implications of such an intervention on domestic consumers? (8 marks)
You are expected to use at least 5 academic sources (excluding the textbook) to support your viewpoints.
Please place the word count for this assignment on the cover sheet. 10% more or less than 1500 words is acceptable. The marker may, at their discretion, discontinue marking if you go above 10% of the recommended word limit.
Marking Criteria:
    
    Question 1
    Question 2
    Question 3
    Total Marks XXXXXXXXXXmarking criteria-wise)
    Demonstration of theoretical understanding
    4
    3
    4
    11
    Quality of arguments supporting the given answe
    
    1
    2
    3
    Communication (spelling, grammar, sentence construction)
    1
    1
    1
    3
    References (referencing format, quality of the source cited)
    1
    1
    1
    3
    Total Marks (question-wise)
    6
    6
    8
    20
Answered Same DayJul 24, 2020MNG00723Southern Cross University

Solution

Soumi answered on Jul 26 2020
52 Votes
SHORT WRITTEN RESPONSES
Words: 1638
Table of Contents
1. Defining Globalisation, Its Positive and Negative Impact on Domestic Businesses    3
Globalisation    3
Its Positive Impacts    3
Its Negative Impacts    3
2. Explaining Factor Proportions Theory, International Product cycle Theory and their Limitation    4
Factor Proportions Theory    4
International Product cycle Theory    5
Limitation and Real Life Example of International Product cycle Theory as well as Factor Proportions Theory    5
3. Tariff Imposition on imported Chinese Products by President Donald Trump    6
(i) Logic behind the Imposition of Tariff    6
(ii) Influence on Domestic Consumers in the context of Tariff imposition on Chinese Imports in USA    6
References    8
1. Defining Globalisation, Its Positive and Negative Impact on Domestic Businesses
Globalisation
The rapid growth of production after the two World Wars, coupled with the need to sustain huge populations, countries around the world relied on international trade rather than limiting its economic activities, services and innovation within their national boundaries, causing worldwide mutual development and is termed as globalisation. As mentioned by Bromley and Lerch (2018), globalisation is the most significant social, political as well as economic activity of the twenty first century.
Its Positive Impacts
In the last hundred years, the global population has increased unevenly around the globe. Along with the improvement of technological innovation and development of new business, the national markets became gradually saturated, especially in developed countries. Through globalisation, the developed countries developed and expanded their businesses in the developing countries. The exploration of newer markets benefits and sustains the business growth of the businesses on developed and developing countries.
As assessed by Hoogvelt (2018), globalisation helped in maintaining the consistency of business growth despite the saturation of demand in the domestic market. As a complementary action of exploration of new foreign markets, through globalisation, the labours in those foreign markets get opportunity of earning, which helps in the improvement of per capita income ratio.
Through the process of globalisation, a vast number of people travel from one part of the world to another, generating scope for cultural interaction and development of cosmopolitan culture. As noticed by Purnell (2018), globalisation helps in developing multiculturalism, which holds the best traits of two or more cultures and improves human social standards of living. In order to benefit from globalisation, countries tend to improve their communication through the renovation of its transport, economic legislature and government policies, which ultimately help the local people, greatly.
Its Negative Impacts
Every action has its equal and opposite reaction and in case of globalisation it is the same. As a positive result of globalisation economies improve, markets swell, employment increases however, it also casts some negative impacts. Firstly, globalisation undermines the growth opportunity of domestic markets. It is evident that as the international businesses enter a country, they have more capital and resources, which along with their international recognition leaves the national business in the same sector lagging behind. As suggested by Sparke (2018), the process of globalisation has to be assessed properly, considering the potential of a country’s local businesses.
Globalisation also reduces the government control over national market. As affirmed by Naqvi et al. (2018), globalisation generates employment, and in some cases it overshadows the number of employment offered by local government. As local people get employment from international business organisations, they tend to pose disregard for absolute control of the market by the local government, which at times become a reason for national...
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