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The Drivers of Globalisation - Term Paper Example

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This paper "The Drivers of Globalisation" focuses on the fact that globalisation acts as an influential motivational factor in the present contemporary economic scenario of the global countries. The emergence of globalisation has rapidly transformed the political influences. …
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The Drivers of Globalisation
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Download file to see previous pages The political scenarios of the LDCs can be observed to integrate effective decisions with regard to strengthening the economic stability through establishing different policies which tend to encourage industrialisation within the nations. Moreover, the immense support of the developed countries can also be taken into consideration for the augmenting economic position of the LDCs1. Emphasising upon the present impact of globalisation, the primary objective of this report is to focus on the significance of code of conducts to be adopted by the MNCs when entering into the LDCs. Moreover, the discussion of this report will also focus on demonstrating the present impact of globalisation and its major drivers. In addition, the report will also emphasise on the impact of globalisation which in turn also brings about trade liberalisation on the competitiveness of the firms in LDCs and its impact on the SMEs within the respective business markets. From this perspective of the impact of globalisation on the SMEs in LDCs, the paper will further reveal the major opportunities and challenges that are formed due to the emerging situation of globalisation and trade liberalisation. The Drivers of Globalisation Figure: Four Major Driving Factors of Globalisation Source: (Kayode, 2012) Globalisation is primarily driven by its four major and initial drivers such as global market Forces, cost forces, political or macro-economic forces as well as technological forces2. Global Market Forces In relation to the present economic scenarios of the global countries, it can be observed that the LDCs have been experiencing an emerging growth in terms of augmenting their financial and liberalised position. Moreover, the remarkable potential of the global markets significantly tends to build an intensifying competitive scenario amid the Small and Medium-Sized (SME) marketers. In this context, it can be said that the emerging development of the business strategies, operational and management related processes have continuously been performing essential roles for the SMEs which further enable them to expand their business units in different global nations3. In addition, it can also be observed or evaluated that a substantial growth on demand is occurring which necessitates this group of marketers to develop their own networks in the global business environment. Global Cost Drivers Global cost forces can also be regarded as one of the major drivers of globalisation which can be observed in the present business environment. The organisations in the present business world tend to involve effective business strategies concerning products or services along with ensuring strict conformance in terms of quality to meet customers’ desires which enable the SMEs of the LDCs to augment the competition within their respective markets2.
Moreover, it can be recognised that reliable delivery of the products or services to the customers along with recognising the needs and the expectations of the potential customers have facilitated to reprioritise the cost factors of the SMEs which enable them to effectively drive their business operations.   ...Download file to see next pagesRead More
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