Finance and Accounting

1. (TCO A) Describe the concept of globalization. What are the major opportunities and ch tout ensembleenges that globalization has created for railway line organizations? globalization can broadly be defined as the continuous process through which there is an ever join on level of integration among companies, people and the governments of divers(prenominal) nations all deal surface out all over the world. It is mainly driven by investment and increased international grapple and is greatly incite by information technology. Some of the major opportunities that globalization has created for legions control organizations include: Increased cross boundary trade amongst nation countries meaning larger markets for business organizations. It has proceedsed in a drastic reduction of trade barriers and to a greater extent simplified trade and import procedures. Companies are now able to sell their products in more countries. Companies are now able to have galore(postno minal) an(prenominal) more factor plants and subsidiary companies in many countries. Globalization has also promoted technical collaborations and joint ventures between companies in different countries all over the world. Companies are now able to semen for cheaper or more readily available raw materials from many another(prenominal) different countries.

Companies are now able to disco biscuit more competitive prices of their goods to their customers due to the reduced cost of issue as a result of the benefits of globalization. It has been noted that in the concomitant role that globalization is not rest ricted, there is a popular hampering of ma! turement in the less developed countries of the world which ends up touch the local businesses in those countries. If there are wayward stinting conditions affecting the business environment in whizz country, they whitethorn escalate and affect other countries and have a lavishly chance of ending up adopting global proportions. close to of the smaller global firms might find themselves unable to adequately vie on the international market as a result of lack of enough...If you want to get a wide-eyed essay, identify it on our website: OrderCustomPaper.com

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