Advantages of Globalization:
* Resources of different countries are used for producing goods and services they are able to do most efficiently.
* Consumers to get much wider variety of products to choose from.
* Consumers get the product they want at more competitive prices.
* Companies are able to procure input goods and services required at most competitive prices.
* Companies get access to much wider markets
* It promotes understanding and goodwill among different countries.
* Businesses and investors get much wider opportunities for investment.
* Pooling of production of different areas can reduce adverse impact of fluctuations in ...view middle of the document...
Though the firm has many business establishments in different locations all the trading activities are inside a single boundary.
Globalization can be sought of as the interconnectedness and interdependence of peoples and countries. Recently globalization has been seen as an important goal to be achieved by most of the countries around the globe. There has been a vast increase presence in the world’s market.
The Internet and the worldwide web have definitely affected globalization. The impacts of the Internet technology on globalization include the modernization and improvement in the business sector on a worldwide basis. Businesses improve their global competitiveness and productivity with more efficient electronic transaction processing and instant access to information. (Zunairah, 2008)
In the 21st century, venerable trends in ITPS such as centralization and globalization are accelerating, and this is overturning and reversing the leverage ratios and thus introducing completely new capabilities. The Internet is impacting the way that services are bought, sold, and delivered, altering relationships among clients, firms, and employees and speeding the globalization of the consulting industry. There can be seen a better relationship between the clients and the firms through Internet which is globally seen all over the world. Instead of face-to-face meetings the clients can easily deal with the big firms and industries via Internet and thus developing a firm client relationship. (Zunairah, 2008)
Technology is considered to be one of the most prominent areas that characterize Globalization (Cantwell, 1995). The interplay between technology and globalization results in a wide range of...