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Globalization advantages and disadvantages for businesses

Please answer the following essay questions with a minimum of 100 words. Be as specific as possible.

1.Globalization is a word used frequently. Without using a dictionary definition, describe what globalization is, what are the advantages of globalization, and what are the disadvantages of globalization.

2.Define what a) a business plan is; b) the different parts to a business plan; and c) the reason why a business would use a business plan when entering the global market.

3.What is a capital budget? Why is it important to any organization? How does it help a business?

4.When entering a global marketplace, what are the steps a business should take in order to minimize problems?

5.What factors determine whether or not to enter a global market?

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1.Globalization is a word used frequently. Without using a dictionary definition, describe what globalization is, what are the advantages of globalization, and what are the disadvantages of globalization.

Globalization can be described as an increased interaction or integration among different countries, economies or regions across the world in terms of trade or exchange of goods and services. Globalization is phenomenon that reflects increased cooperation, dependency and mutual trade among nations for mutual growth and benefit.

The main benefits of globalization is increasing trade among nations for the benefits of companies and consumers. Companies are able to exploit market opportunities and obtain comparative advantage in terms of sourcing and production due to globalization and thus, are not dependent on one single market for selling their products and services. Consumers are able to buy highest quality goods at lowest costs from global manufacturers. Globalization has enabled significant development across numerous developing and weak nations across the world.

However, globalization has also heightened competition across the world. Companies have to face competition from far more efficient players from all over the world and it has led to a mad race among companies to search for opportunities to produce goods at lowest possible costs, without any concern for such race on the environment. Due to outsourcing, jos losses take place in developed nations as companies move their jobs to low cost nations.

2.Define what a) a business plan is; b) the ...

Solution Summary

Globalization is a word used frequently. Without using a dictionary definition, describe what globalization is, what are the advantages of globalization, and what are the disadvantages of globalization.

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