Answer To: MNG 00723 Assessment 1: Short written response (20 marks) 1500 words Due: 2nd August Answer the...
Soumi answered on Aug 02 2021
MNG 00723 ASSESSMENT 1: SHORT WRITTEN RESPONSE
Table of Contents
1. 3
Introduction 3
Defining Globalisation 3
Globalisation affects Domestic Business 3
Positive Impact of Globalisation 4
Negative Impact of Globalisation 4
Conclusion 4
2. 4
Introduction 4
Factor Proportions Theory and its Limitation with example 5
International Product Cycle Theory and its Limitation with example 5
Conclusion 6
3. 6
Introduction 6
Reason for doing so 6
Impact of this Action 7
Conclusion 7
References 8
1.
Introduction
When countries and businesses round the world work along, then that place is called globalisation. It creates unity in countries and avoids them from being isolated. Besides this, countries from everywhere the globe indicate economic and political support among themselves. In today's era, globalisation has been seen as some way to try to do business in just two countries and to run financial markets. Because of globalisation, the financial condition of many countries has become success.
Defining Globalisation
Two or more countries share their views with the assistance of globalisation. Additionally, to commercialism deals, there is the sharing of widespread culture among nations. In today's technological age, industrial construction techniques have led changes related to the method of industrial enterprise. The most necessary reason for this is that in more populated countries, people are planning to fast-growing industrial cities to run new technology machines.
Globalisation affects Domestic Business
Globalisation is seen as a positive, negative, and marginal method for the domestic business. The true meaning of globalisation can remain the subject of discussion among those that protest, support, and examine it, even though it continually works for the great within the country. At a domestic business level, globalisation has affected the services offered by the organizations and product of organizations. The merchandise life cycle is that the period on which an item is developed dropped at the market, and eventually eliminated from the global market. Globalisation will harm the domestic business balance sheet.
Over the years, domestic items of Asian countries have come to the United States. This household merchandise from Asian countries is cheaper than homemade merchandise of the United States. Consequently, several domestic businesses and organizations need to buy Asian product on United States of America household merchandise to scale back their own product prices. This issue harms the balance sheet of the U.S. domestic business (Thomas & Mariswamy, 2017).
Positive Impact of Globalisation
· The biggest positive impact due to globalisation has been that any developed country creates economic and social structures of their economies in developing countries through free trade.
· With the help of this, all the countries can build world power together.
· With the help of globalisation, two or more countries can share their culture and technology, which will benefit every country.
Negative Impact of Globalisation
· Countries with some strong economies did not parallel with the weak people and poorer economies, which affected the rich countries and became wealthy, and the poorer countries became poorer.
· According to Coyle (2016), this threatens to increase unemployment.
· It harms the...