Analyze the impact of globalization on businesses and the challenges and opportunities it presents.
There is growing sentiment related to
globalization
and how it impacts people
's life. To understand deeply about globalisation, we need to know what this
means. Globalization
can be simply understood as the growing interdependence of the world's economies, cultures, and populations. It brings both challenges and opportunities for individuals and companies too. In this
essay, I will discuss how it affects people
's life
and give some clear examples.
Replace the word
lives
To begin
with, the one main challenge that globalization
brings people
's life is that it highly creates competition in the domestic market in some countries. In the modern world today, some developed countries such
as America or Japan have their own modern machines, effective tools, and smart science products that have a strong tendency to enter other markets, and from that point, it creates much pressure for local companies. For example
, in Finland, the appearance of some famous technology
brands such
as Apple or Samsung has created pressure on the local company, Nokia. It plays a part in why they have faced a business recession.
On the other hand
, globalization
with effective support from technology
brings many advantages for both personnel and companies. However
, I will mention the most effective benefits of technology
that brings global connections quicker and faster than in the past. Information technology
has enabled businesses to attain greater reach. Nowadays, people
can work online, get quick communications, or run businesses through emails, text, instant messaging, websites, social media platforms, etc. A counter-example is working from home during the Covid-19 pandemic. People
can work, connect, and have meetings, and conservations through meeting apps such
as Zoom, Skype, Teams, etc. These apps are really convenient and helpful.
In conclusion, globalization
opens up 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
for society.Submitted by khanhlinh151123 on
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