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Changes in the Concept of Globalisation - Essay Example

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The paper "Changes in the Concept of Globalisation" discusses that some scholars argued the growth of globalisation as it can diminish the local markets, other suggested globalisation will help in creating a unified market place which can highlight the individual skills of the nations…
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Changes in the Concept of Globalisation
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Download file to see previous pages Cavusgil and Knight (2015) mentioned that entrepreneurs and business houses have been able to overcome geographical barriers and establish a global brand. In a manner, globalisation has raised the hope of developing a single market place with limited barriers and a common platform for operation. However, this belief has differentiated the birth and expansion process of business firms as globally launched products and brands are increasing in the market. This statement will be analysed in the report by considering various aspects of internationalisation and its influence on business operation.
Globalisation has been defined by many scholars and researchers considering its various characteristics and features, however, a precise definition is yet to be developed for the most popular concept of the late twentieth century (Zucchella, Palamara and Denicolai, 2007). Globalisation was started as a process for unifying the corporate practices of the world by creating common platforms for consumers and business houses to perform (Analoui and Karami, 2009). The changes in the business practices that followed the aspect of globalisation had not only influenced the economic scenario of the world but also created new opportunities for nations to accumulate their resources and develop their trade and commerce. In the words of Hollensen (2011), globalisation has been a motivating factor for the business houses as many firms are now trying to launch themselves in the international market directly. These firms are often considered as global born brands (Jeannet and Hennessey, 2010). Nevertheless, the viability of the concept of globalisation or a borderless market has been criticised in many aspects.
Based on the growth and changes in the business processes in the international market place, the concept of globalisation has also undergone some changes in the past decade. ...Download file to see next pages Read More
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