Globalisation Essay

807 WordsJan 4, 20134 Pages
INTRODUCTION According to Arthur (1994) see globalisation in the tendency of businesses, technologies or philosophies to spread throughout the world, or the process of making this happen. Otokiti (2004) globalisation implies the opinion of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital frontiers. Greengard (1995) defined globalisation as the system of interaction among the countries of the world in order to develop the global economy. Globalisation refers to the integration of economics and societies all over the world. Globalisation involves technological, economic, political and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure. As the corporations grow larger, they begin to modify their products and services, catering to the needs of a larger and transnational market. This means that geographical boundaries are no longer strong enough to restrict the progress and flow of businesses. Impact of Globalisation Globalisation has had an increasingly significant impact on international marketing. More and more markets become open to international organisations as the cost and complexity of operating overseas is reduced by globalisation. One of the key drivers of increased international marketing has been reduced costs as a result of globalisation. Organisations are able to access cheap resources and labour in developing countries. This not only allows them to price their products lower, but also opens up a broader market of people with the disposable income to buy more goods and services. New and ever improving communications technology has spread throughout the world, allowing international marketing campaigns to be coordinated all from a domestic base. The internet and mobile phones have opened up entirely new

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