Is Gloalisation Good for Business

In: Business and Management

Submitted By joseph22
Words 344
Pages 2
Globalisation have impacted the world and businesses in different ways, and today different people have been debating on the year that Globalisation started. Brooks, I. et al, stated that “many commentators take the view that globalisation probably started some way back in the nineteenth century” (Brooks, I. et al. 2004, p. 308). The term globalisation can be defined as “a process that refers to the growth of inter-dependencies between national market and industries on a worldwide scale” (Brooks, I. et al. 2004, p. 308). In other words, globalisation is the integration of different markets in the global economy. The process of globalisation have four different phases in the world and businesses. The first phase which started in the year 1880(Brooks, I. et al. 2004, p. 308) was mainly focused in the improvement and development of good transportation and automation processes which enabled the large business firms to rely on a long distance trade. Furthermore, in the 1880’s, the invention of telephone and telegraph communication made the process of transferring information much easier and faster which was very useful and helpful to different business firms to communicate and manage “their supply chain” (Brooks, I. et al. 2004, p. 308). Secondly, the second phase of the process of globalisation helped and enabled the business firms to expand and “establish multinational subsidiaries” (Brooks, I. et al. 2004, p. 308). The third phase was focused on the reduction of tariffs barriers and the rapid increase of international trade around the globe, and the fourth phase was mainly focused on the change of technology. All this processes have impacted different business to improve and expand and this essay will first of all discuss the impact of globalisation in the world and also outline the benefits and effect of globalisation in business and give some examples of business…...

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