Finance and Accounting

1. (TCO A) Describe the concept of globalization. What are the major opportunities and ch all toldenges that globalization has created for furrow organizations? globalization can broadly be defined as the continuous process through which there is an ever gain level of integration among companies, people and the governments of divers(prenominal) nations all deal proscribed out all over the world. It is mainly driven by investment and increased international hatful and is greatly attention by information technology. Some of the major opportunities that globalization has created for force control organizations include: Increased cross boundary trade amongst nation countries meaning larger markets for business organizations. It has proceedsed in a drastic reduction of trade barriers and more simplified swop and import procedures. Companies are now able to sell their products in more countries. Companies are now able to have galore(postnominal) an(prenominal) more factor plants and subsidiary companies in many countries. Globalization has alike promoted technical collaborations and joint ventures between companies in different countries all over the world. Companies are now able to semen for cheaper or more readily available raw materials from many otherwise different countries.

Companies are now able to disco cooky more competitive prices of their goods to their customers due to the reduced cost of getup as a result of the benefits of globalization. It has been noted that in the answer role that globalization is not restricted, there is a world-wide hampering o f maturement in the less developed countrie! s of the world which ends up touch the local businesses in those countries. If there are ominous stinting conditions affecting the business environment in mavin country, they whitethorn escalate and affect other countries and have a lavishly chance of ending up adopting global proportions. most of the smaller global firms might find themselves unable to adequately vie on the international market as a result of lack of enough...If you want to get a plentiful essay, identify it on our website: OrderCustomPaper.com

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