Discuss the impact of globalization on businesses. give your opinion?

There is growing sentiment today related to

globalization

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and how it affects people’s life.

To begin

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with, we need to understand the meaning of

globalization

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.

Globalization

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can be known as the growing interdependence of the world's economies, cultures, and populations. From my perspective, I believe that

globalization

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brings both challenges and opportunities to business. In

this

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essay, I will discuss it and give clear examples.

To begin

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with, the one main challenge that

globalization

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brings to business is that it highly creates competition in the domestic market in some

countries

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. In the modern world today, some developed

countries

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such

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as America, Germany, etc have their own modern machines, effective tools, and smart science products that have a strong tendency to enter other markets. That,

it

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apply

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creates much pressure on local companies.

For example

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, in Finland, the appearance of famous technology brands

such

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as Apple or Samsung has created much pressure on the local technology brand, Nokia. It plays a part in the reason why they have faced a business recession.

On the other hand

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, some advantages of

globalization

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are that it creates a cultural diversity working environment. First of all, employees belonging to different

countries

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usually have different ways of thinking, solving and handling problems. From that, a matter can be solved in many ways by some different experiences and knowledge bases.

Secondly

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, foreign employees have a more in-depth look at their country’s culture and lifestyle. So, if the company want to expand their market to other

countries

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, foreign employees will contribute some right strategies for marketing and operating to suit the most with

this

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country.

For example

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, a memorable advertisement from McDonald's in Finland has been considered clever locally, but it was seen as confusing and weird by foreign people. So, it is really important to do much research about the local market and it will be easier to succeed if it includes advice from local people. In conclusion,

globalization

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opens many opportunities for working and studying for everyone. If we can take advantage of global change, we can do many meaningful activities for ourselves and

also

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for society.