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. 1.What is globalisation and how does it...

BUSINESS COMMUNICATIONS
MNG 00723 ASSESSMENT 1: SHORT WRITTEN RESPONSE
Words: 1559
Table of Contents
1. Globalisation and its Impact on Domestic Businesses    3
Definition of Globalisation    3
Positive Impact of Globalisation on Domestic Business    3
Negative Impact of Globalisation on Domestic Business    3
2. International Product Cycle Theory, Factor Proportions Theory and Exemplifying their Limitations    4
Factor Proportions Theory    4
International Product Cycle Theory    4
Limitations and Real Examples    5
3. Imposing Tariffs on Chinese Imports    5
Reasons for the Imposition of Tariffs on Chinese Imports    5
Impact of the imposition of tariffs on Domestic Consumers    6
References    7
1. Globalisation and its Impact on Domestic Businesses
Definition of Globalisation
In the common aspect of globalisation is the interaction process, which can help in case of interacting with the people, companies and governments. Thus, the process of globalisation is can be done within the global context. Globalisation is one of the complex methods and for this process of globalisation is maintained by the capitalists to expand their activities in the global context. Through the introduction of the process of globalisation, one can easily expand their business activities from the national context to the international market (Wright, 2016). The globalisation also can help one person in terms of the extension of their economic strength with the positive aspects. Based on the increasing demands of the business market, business companies are looking forward to globalisation for their international trade.
Positive Impact of Globalisation on Domestic Business
Globalisation has uplifted the domestic business in various aspects. There are a number of positive impacts that globalisation has conducted upon the domestic market. The positive impact of globalisation is visual and evident as the foreign investment inflows play an important role in the business. This is the reason why local people can get enough employment. For trade, the poor and unemployed people can get jobs. Globalisation tends to omit the cultural barrier to a huge extent, thus the unity in diversity concept can be seen inside the domestic business.
The domestic business depends massively on the natural resources, which develop the nation (Doytch and Uctum, 2016). Domestic business is restricted inside the country itself that is why the monitoring process and expanses of the shareholders are eliminated to a noteworthy extent. For the domestic business, the domestic companies do not essentially have to compete with the foreign brands or companies that are why the survival to the fittest situation can be bypassed and people can be able to work without stress and acquires maximum work satisfaction.
Negative Impact of Globalisation on Domestic Business
In today’s world, technology has a noteworthy impact on the context of business. Technology is changing and growing like a wildfire. Because of the compact access to the world market, domestic marketers lack the knowledge of the newest and best technologies, which might be a reason for the difficulty to bring out the best outcome of their business. As the multinational companies are expanding their business in the global market and getting so many advantages and opportunities; on the other hand, for the domestic marketers it is becoming difficult to evolve or increase their business to a huge extent and that is why they are losing their potential opportunities.
Other than...