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───▄▀▀▀▄▄▄▄▄▄▄▀▀▀▄─── ───█▒▒░░░░░░░░░▒▒█─── ────█░░█░░░░░█░░█──── ─▄▄──█░░░▀█▀░░░█──▄▄─ █░░█─▀▄░░░░░░░▄▀─█░░█ █▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█ █░░╦─╦╔╗╦─╔╗╔╗╔╦╗╔╗░░█ █░░║║║╠─║─║─║║║║║╠─░░█ █░░╚╩╝╚╝╚╝╚╝╚╝╩─╩╚╝░░█ █▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█  : Presillyn Tan Jie Yin, Fairview International School . recent update :
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Globalisation
written by Presillyn Tan ✈
Globalisation
Nowadays,
the world is flat. This is because globalisation has integrated the universal’s
economics into the international boundary through free trades, capital flows,
migrations, foreign exchanges, quality of product, equality for all, travel and
tourism, external borrowing, ease of transportation, rapid changes of technologies,
e-business and etc.
Globalization is an ongoing trend of integration of regional
economies into a global network of communication and execution. This very
significant trend is greatly raising economies of scale as well as the amount
of capital necessary to compete in the industry.
Firms can participate in
international activities through three basic mechanisms: licensing, export and
foreign direct investment.
Benefits of
Globalisation
A wider pool of potential entrants, a broader
scope of possible substitutes and increased possibilities that firms 's goals
and personalities will differ as well as their perceptions of what their
perceptions of what is strategically important. Free flow of technology appears
to be giving a wide variety of firms including NDC competitors, the ability to
invest in modern, world -scale facilities. For examples, Japanese have become
quite aggressive in selling their technology abroad. Also some firms purchased
technologies are willing to resell it to others at bargain prices. All this
activity tends to promote more global competition.
Drawbacks of Globalisation
Areas like income, factors costs, energy costs,
marketing practices and distribution channels are being narrowed down. This
also facilitating the abandonment of sectors deemed less desirable. Rate of jobless increased due
to selling goods below cost price in order to clear the stocks.
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