Q. 84.3( 3 Votes )
Explain the benef
Globalisation is the process by which a business or any organization can develop International influence or can start operating on an international level. It has many advantages such as the following:
1. It helps to increase the trade and services of a country with that of the world. Many investors can invest their money in both developed and developing countries. For example, Japanese and European companies such as Kawasaki and Siemens started their work in China.
2. Information can easily be transferred from one part of the world to other. Information can be shared between individuals and corporations at a very fast rate.
3. The consumer now has access to the best goods and services throughout the world. The companies produce a better quality of goods and services, and the consumers have the liberty of choosing whichever product he thinks is the best.
4. Due to the increased competition in the market, the producers must also keep their prices at a competitive level to survive in the market.
5. As products and information can easily move between countries, this has led to the reduction of barriers between cultures. This has also had to facilitate communication between different nations.
6. People now have access to the best educational facilities across the globe. People from underdeveloped and developing countries often move to developed countries for better education.
7. With the increase in the globalization more and more companies have set up business in different countries. This has helped the people to gain more employment opportunities.
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