The Impact of Globalization on Business Enterprises
Essay by review • March 12, 2011 • Essay • 304 Words (2 Pages) • 1,618 Views
Fewer trade barriers and unprecedented technological advances have accelerated the pace of globalization. The free flow of goods and services, the establishment of functioning trade blocs like the European Union, more favorable regulations for foreign direct investment, and e-commerce are now major features of the global market. Electronic data communication (EDC) facilitates the exchange of data at tremendous speeds; it sorts and integrates data with other information available to the recipients (businesses, banks, capital markets) from other sources. Individual countries and trading and currency blocs alike view the fast-moving e-business sector as having a direct impact on the countries' and blocs' competitiveness in the global market.
Identify a problem facing your organization or an organization with which you are familiar as a direct result of globalization. Prepare a 700-1,050-word APA-formatted paper that includes the following:
a. A clear and concise presentation of the problem to be addressed. This problem statement should be no longer than two or three sentences.
b. Relevant facts and circumstances related to the problem you identify. How does the theory of trade and comparative advantage affect the problem or opportunity you've identified? Be sure to identify barriers to trade relevant to your problem or opportunity and discuss why they are imposed. Examine the role of trade and the theory of comparative advantage, identifying barriers to trade and the reason they are imposed.
c. An analysis of the problem in the global context and a discussion on how the problem can be turned into a business opportunity. Describe how technology can be leveraged to seize opportunities in the global marketplace.
d. A tentative evaluation of the benefits your organization will reap if it capitalizes on the identified business opportunity.
e. A realistic brief overview of recommendations to mitigate the risks associated with business opportunities developed as a result of globalization.
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