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And then, it might prove effective for the organization to present varied types of inventive products as per the requirements of the customers thereby amplifying the brand image and productivity of the organization in the market among other rival players.
Moreover, in order to enhance the level of reliability and loyalty of the customers over a brand, customer retention is also extremely essential. It might prove effective in enhancing the brand value of the organization thereby amplifying its level of competitiveness to a certain extent in the future age among other players.
Globalization is described as the process to move towards a more integrated and inter-reliant economy. This is mainly due to certain key environmental factors such as competitiveness, market trends, technology, political and economic scenario.
Competitiveness- it is denoted as another vital environmental driver that offered significant impacts over the profitability of the organizations operating in diverse segments. Therefore, in order to cope up with such challenges, maximum extent of the organizations decided to offer varied types of inventive products to retain its brand image and customer base for longer period of time.
Economic downturn- it is also another factor that offered a negative impact over the functions and operations of the organizations. As a result, in order to survive, most of the organization implemented the strategy of presenting value-added products at lowest possible price. So that, it might be used by the individual of varying age groups, religions, living standards and life style. Only then, the level of turnover and profitability of the organization might get enhanced with a significant extent in the future era as well. Thus, from the above paragraph, it might be analyzed that globalization makes nation-states more inter-dependent over one –another, i.e. more integrated into a global economy (World Trade Organization, 2008).
Technology- introduction of varied
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World Economy: Neoliberalism. News around the globe always contains the headlines regarding the world economy and the presence of a crisis. Economic downturns, turmoil and collapse have been reported throughout history. As the world changes, economy also changes.
The research is carried out for third world countries in Asia and how these factors are inter-related. Third World Economy The economic and social stability is more often than not in direct proportion with the political stability of the region (Kingsbury, 2007).
World Economy Since 1945.The concept of neo liberalism has dominated the sphere of economic policymaking in the Western world. Both the United States and the United Kingdom has strictly adhered to the school of neo liberals since the past four decades. Neo liberalism finds strong advocates in all over Western Europe.
The book does not overdwell on every period of significance. For instance, it points out that economy during the wars was in shambles and that the pre-war economic system could not be carried forward because like everything else it was rendered a chaotic mess.
These major shifts have obviously been facilitated by global connectivity. Radical transformations in the way businesses are carried out have become possible with Internet and other technological developments. The globe has shrunk and businesses are competing on larger platforms.
China is stipulated to be one of the fastest emerging economies of today's time and age. The roots of its economic development date back to 1978. Before 1978, all the assets were state owned but post this era government set forth on a major economic reform program.
The Japanese economy was the most versatile world economies gaining up to 0.9% and this was an improvement from the past week when it gained 0.5% above the GDP (FXSreet n.p). The US and Chinese economies
The durable orders became the most dynamic spending sector registering 0.7 percent of the job income-spending index. The durable orders registered 4 percent of the index, a figure up by 5.4 percent from the previous recording. The higher percentage indicates the increase in
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