A How has globalization affected different world regions Wha

A. How has globalization affected different world regions? What are some of the benefits and costs of globalization for different sectors of society (companies, workers, communities)? How has NAFTA affected the economies of North America and the EU affected Europe? What importance do these economic pacts have for international managers in North America, Europe, 8 2 B. and Asia? Many MNCs have secured a foothold in Asia, and many more are looking to develop business relations there. Why does this region of the world hold such interest for international C. 8 management? Identify and describe some reasons for such interest. MNCs from emerging markets (India, China, Brazil) are beginning to challenge the dominance of developed MNCs. How might MNCs from North America, Europe, and Japan respond to these challenges? D.

Solution

Answer:-

Globalization means expanding business in a world wide level especially through the internet and trade options. The impact of Globalization is positive because it helps the entrepreneur to open new markets and to create new ideas and opportunities. In less industralized nations globalization helping the firms to increase their marketing around the globe. Globalization allowed businesses in less industralized nations to be a part of global production networks and supply chain that are the main conduits of trades.

Some of the benefits and cost of globalization for different sectors of society:-

Benefits:-

Market expansion:- Competiting internationally results in expanding to the places where the organizations conducts the business and advertises it\'s goods and services and opens a larger consumer base and ability to obatian a huge profits.

Brand reputation:- Brand is one the important thing which helps us to choose the products. Competing internationally has a sole merit of increasing the brand reputation since the Consumer perceives a brand which is selling in a numerous market as on with higher quality and better service in comparison to brands which sell locally.

Opens doors for future success of the business:- Competing globally opens the doors to future business growth

Opportunities through not only creating a sale base but also enabling the company to join a new sellers a huge workforce and new technologies.

Costs:-

Economic contribution cost:- Organizations need to take more care to those markets which are operating within a multicultural environment , especially for those people who have negative emotions. It imposes challenges I.e., greater geographic dispersion among supply chain members thus greater distances from longer lead times and higher transportation costs.

Culture differences, time zone and exchange rates:- These factors make communication and decision making more hard i.e., Boeing and Airbus have discovered the downside of sourcing from global suppliers.

Government regulations, tarrifs and environmental rules:- These factors imposes challenges i.e,. many nations need that products have a minimum percentage of local content.

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