Latest developments in information technology, transport facilities and communication technology have accelerated the pace of globalisation in recent years. The increased use of internet has enabled fast global communication and timely delivery of goods. Nowadays, goods are packed into containers and transported by cargo ships. The use of containers and cargo ships enabled the companies to transport vast quantities of goods and commodities across the world at low costs. With the rise of social media
Economic Outcome In economics, market failure is not efficient in the allocation of goods and services to achieve the greatest possible consumer satisfaction. Sometimes, market failure is also used to describe the situation where the market forces cannot meet the public interest. Merit goods are improving production by creating policies that interfere with individual preferences (Musgrave and Musgrave, 1973). These products and services are beneficial to people, but people for various reasons refused
if they aim to flourish and benefit from comparative advantage, specialization and advancements in technology. For most nations, the road to growth and development passes through global economic participation. However, economies abundantly rich in natural resources, labor and capital can afford to rely more on the local economy and less on the global economy. The fact, however, remains that most economies do not possess such magical powers; thus, they depend on other nations for economic, political
Introduction Globalization is a current heating topic in global politics. It is a term echoing in the world of economics as it promises new doors and endless creative opportunities when embraced. However, amidst its praise and recommendation, globalization carries proper weight on its downside. It is important to put both aspects to light and through a brainstorming session, a viable solution can arrive, otherwise, an alternative solution to both parties. The term globalization defines an increased
The successful company necessarily raises the question about one of the most strategic aspects - entering foreign markets. This becomes extremely important in the era of globalization of the world economy, which is characterized by the formation of a global economic space and the creation of a single market of production and distribution of wealth. The emergence and rapid development of international logistics systems (ILS) is a manifestation of globalization, a process most directly affecting the
Prof DrM s s el namaki, Dean, Victoria University, School of Management, Switzerland. Dean (Retired) Maastricht School of Management, MSM, And The Netherlands. Dr.el.namaki@gmail.com,Rijksstraatweg 729b, 2245cc Wassenaar, Netherlands. (Global Tel. +971505087490). The problem There are two ways to conduct economic, and possibly political, business between countries. The first is conventional search for country present day competitive advantage (Porter, 1990). Yet competitive advantage
functional level strategy for product development, for instance, means that the company has developed a strategy for selling its goods and services to customers. Functional business strategy is part of an organization's wider strategic plan.” These functional strategies include operations, marketing, human resource, production, research and development, financial and organization strategies. These strategies enable a company to
because most of the companies are expanding aggressively worldwide. The global market of the industry was fragmented around 25 brands with diverse product lines, and they are competing to gain market share either within a single country or geographic regions. Competitors are focusing on performance and reliability as well as developing product identity through marketing, and new product development. To illustrate, the global market of the industry was worth approximately $135 billion in 2012, and it
integration of the national/domestic economy with the world economy which has made the world a global village, it has led to the creation of a worldwide system, thereby enabling free movements of goods, capital and information, virtually sweeping away the politician boundaries ‘no distance is now big enough and no country or nation really foreign’. It points to the whole effort towards making the world a global community because of the increasing integration of economies and advancements in information
best defined as the assimilation of the global financial markets/institutions and a states regional financial system. Because of this assimilation the government is required to liberalise capital accounts and local financial sectors. The intergration of these markets and systems results in liberalized economies going through an increased cross country capital movement which inloves local borrowers and lenders activively participating in the global markets and the use of international financial liaisons