Final project Essay Example | Topics and Well Written Essays - 1750 words

Final project - Essay Example Globalization requires varied expansion strategies like diversification, bifurcation, mergers, acquisition etc to gain competitive advantage over its competitors. The study will highlight the various factors that affect globalization and its effect on global economy. Factors like how globalization serves purposeful at organizational, reorganizational and integration of financial markets. The integration occurs at varied levels especially at industrial and financial markets. The author of the study will also highlight the various important components of globalization that binds the companies together for a unified purpose. The techniques of research methodology and the findings and analysis of the research methodology would be also included in the study. Finally, the study will conclude with recommendation that can improve the current situation that affects globalization. Background & Rationale for choosing the topic Globalization not only affects and benefits the national economy but also has positive effects on the regional development of the economy. Apart from economic integration free trade conditions (Wagner, 2002). Globalization compels the business organization to adapt to changing market dynamics based on ideological trends that help in the balance of the professional and personal goals of the employees of the organization. Various other factors like unemployment, parallel economic growth, cutting of costs, etc will be considered an important aspect of globalization are some of the major factors which have been considered while choosing the topic. Modernization and growing economy is also a significant contributor to development of the organization. The principal cause of the effects of globalization is that it helps in the modernization and growth of the economy, which is instrumental for understanding its impact on the business activities. This is one of the basic and rationale for choosing the topic for the author of the study, which helps in underst anding the effects and outcome of the globalization. Apart from the above mentioned components factors like deregulation also helps in liberalization of the capital account and also integration of wide range of financial services. Section 2 Literature Review Effects of Globalization Globalization has been regarded as a crucial component from the economic, monetary, socio economic aspects and implications of globalization (Rosnan, Ismail and Daud, 2010). In economics, globalization has played an important role for the development of the economy and has changed the scenario of the world economy. Different types of industries have benefitted importantly from globalization especially the creative industries, which have earned an estimated amount of $60 billion annually over the past few years. The increasing globalization has also impacted the creative, film, car manufacturing and pharmaceutical industries to a large extent for expanding on a larger scale. The globalization of the film industry has made it significant contributor to the world economy. Apart from strategy aspects monetary and exchange policy also helps in emphasis of the maintenance of the economic contention like trade off, credibility, increase in uncertainty etc. This also helps in increased competition among the organizational members. Globalization helps in shaping the social policy and the policy making procedure for the welfare of the organizati