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Day by day the demand for goods & services has been increased.
To fulfill the demand many companies has gone beyond boarders to increase their
productions. In this process people, investments, goods & services started cross
boarders & we simply calling it Globalization.
So, what drives the globalization? There are four main facts
behind it & let’s find out what are those.
01. Technology
advancement
Telecommunication & the information technology
without any arguments this has been a main fact that globalization has been
driven by. Irrespective of boarders this has made a world so close. Day to there
are new improvements in the technology where it creates new opportunities for
the businesses.
Example – Alibaba, E-bay
02. Reduction
in cross-trade barriers
Each & every country has cross barriers of
their own which keep the movement of people, investments, goods & services
at the bay. Reason is to protect the businesses within the country alive. But now
many countries are moving beyond that through the trade agreements which help them
to grow the economy.
Example – China
03. Increase
in consumer demand
Over the years people income has been increased.
Due to that reason their lifestyle has been changed & their needs too. They
have exchanged their cultures & most people love it to try new things. That’s
the reason we find Indian food, Chinese take away in corner of every country
04. High competition
Of course, no wonder the high competition is a
reason behind the globalization since between the countries it's almost like a
war. They are competitive for the market share in order to grab the big piece they
concentrate on cost reduction, Improved transportation & new technologies.
Example – Apple, Samsung, Huawei phone
Reference:
Nitisha (no date)
Forces Behind Globalization, economicsdiscussion. Available at: http://www.economicsdiscussion.net/international-economics/forces-behind-globalization-with-diagram/4217.
Rahman, M. (2016)
What are the driving forces behind globalisation?, Howandwhat.
Available at: https://www.howandwhat.net/driving-forces-behind-globalisation/.
You simply & clearly describe which factors drive globalization.Thank you for sharing your knowledge Shameena .
ReplyDeletefour main factors drive globalization, 1.Technology advancement,2.Reduction in cross-trade barriers,3.Increase in consumer demand,4.High competition,.Thank you for sharing your knowledge.
ReplyDeleteClearly described about globalization & four main factors of drive with examples.
ReplyDeleteThank you for sharing.
Good article, simple and attractively presented about globalization and its importance with some current world examples. Thanks for sharing.
ReplyDeleteInteresting article and nicely explain. thanks share your knowledge in this blog. good luck.
ReplyDeleteI think technology is the main factor that drives globalization. It is important that people link with it and make it a common essential thing in day to day life. Nice job.
ReplyDeleteTo fulfill the demand many companies has gone beyond boarders to increase their productions.nicely explained about Technology advancement,Reduction in cross-trade barriers,Increase in consumer demand and High competition.Good article
ReplyDeleteAs a company extends its base to a foreign shore, the impact of that globalization on HR procedures will extend to current workers and also to new employees. Interesting article. Good work .!
ReplyDelete