What is Globalization? what are the element of Globalisation?

-
The shift towards more integrated and independent world economy. It makes the world's economy of one country dependent on another. That is business dependent on another. 
Reason for Globalization:
(1) The wide spread growth in the world market makes it increasingly difficult for any country to avoid external impact on its economy.
Example: Oil share fluctuating in terms of barrels.
(2) Massive flow and push exchange rate that accurately reflect competitive relationship among national economic policies exchange value up and down. Global integration in trade, investment and factors of production, technology and communication and advancement has been fixed world's economy together which are basically gone through communication.
Effect of globalisation
(i) Globalization of market.
(ii) Globalisation of product.

(i) Globalization of market:
-Managing of distinctively separate market into a global market place.
- Converse in taste and preference of different people of the world.
- From offering similar kinds of products.

(ii) Globalisation of Product:
- They refers to the soureing of goods and from location around the world to take advantage.
- Quality product.
- Difference in cost of production in ( India, Bangladesh, Nepal.
 

Comments

Post a Comment

Popular posts from this blog

Commissioned Ranks in Defence Forces

-
ARMY Field Marshal General Lieutenant general Major general Brigadier Colonel Lieutenant Colonel Major Captain Lieutenant NAVY Admiral of the fleet Admiral Vice Admiral Rear Admiral Commodore Captain Commander Lieutenant commander Lieutenant Sub- Lieutenant AIR FORCE Marshal of the Air force Air Chief Marshal Air Marshal Air vice Marshal Air commodore Group captain Wing commander Squadron leader Flight Lieutenant Flying officer 
Read more

Lists of official Language of India

-
Sr. No Language Official Recognition in state 1 Assamese Assam, Arunachal Pradesh 2 Bengali West Bengal, Tripura 3 Bodo Assam 4 Dogri Official language of Jammu and Kashmir 5 Gujarati Dadra and Nagar Haveli and Daman and Diu, Gujarat 6 Hindi Andaman and Nicobar Islands, Bihar, Dadra and Nagar Haveli and Daman and Diu, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Jammu and Kashmir, Mizoram, Rajasthan, Uttar Pradesh, Uttarakhand, and West Bengal 7 Kannada Karnataka Kashmiri Jammu and Kashmir 9 Konkani Dadra and Nagar Haveli and Daman and Diu, Maharashtra, Goa, Karnataka, and Kerala (The Konkan Coast) 10 Maithili Bihar, Jharkhand 11 Malayalam Kerala, Lakshadweep, Puducherry 12 Manipuri Manipur 13 Marathi Maharashtra, Goa, Dadra and Nagar Haveli and Daman and Diu 14 Nepali Sikkim and West Bengal 15 Odia Official language of Orissa 16 Punjabi Official language of Punjab and Chandigarh, 2nd official language of Delhi and Haryana 17 Sanskrit Himachal Pra
Read more

Difference between Domestic and International market

-
There are some difference between Domestic and International business. In the era of currency, interest rate, inflation, taxation, system, government regulations, language, socio political economic barriers.             In the matter of payment, a buyer of foreign goods must pay for them in a currency different from his country. And that which he can comment into his own country's.  Example: An Indian importer of American goods need to make payments in dollars as and not Rs. Once commodity cross across the border becomes subject to different set of laws. Therefore, In business managerial process need not be altered and refined with respect to different environmental variables for change.  Domestic Market and International Market  (i) Single market and sub market  (i) Multiple market ((ii) Awarness for market is high therefore one can task into the market without any marketing research.  (ii) Imperative (iii) The control is over single set up. Therefore, administration is relatively
Read more