Updated: Sep 19
Globalisation has become a buzzword in today's interconnected world, but what does it really mean and how does it impact businesses and individuals?
Learn more by watching the video and reading the blog post below:
Globalisation is the process by which businesses, people, and governments around the world become more interconnected and interdependent. It is driven by advances in technology, transportation, and communication, which have made it easier and faster to move goods, services, and people across national borders.
Globalisation has brought many benefits, including increased economic growth and the spread of new technologies, but it has also led to some negative consequences, such as job displacement and environmental degradation.
For business students, understanding globalisation is important because it has a significant impact on businesses and the global economy. Globalisation has led to the growth of international trade and the expansion of global supply chains, in which goods are produced in different countries and then assembled into finished products. It has also led to the growth of multinational corporations, which operate in multiple countries and have a significant influence on the global economy.
In addition to its economic impacts, globalisation has also had significant cultural and social impacts. It has facilitated the exchange of ideas, values, and customs around the world, leading to the spread of popular culture and the exchange of ideas related to issues such as education, health, and the environment.
Overall, globalisation has led to both opportunities and challenges for businesses and individuals around the world. Understanding these impacts is important for business students as they begin to think about their role in the global economy.