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GSBS6003 Globalisation

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GSBS6003 Globalisation

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Course Code: GSBS6003
University: The University Of Newcastle

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Country: Australia

Question:
Write about the Globalization winners and losers.
 
1. Summary must reflect the nature ,prospects and problems of globalization as highlighted in this documentary.
2. Write your personal thoughts.
Answer:

Globalization: Winners and Losers
Nature
Globalization has been described as the main influence on business functions. Its defined as the idea of bringing together markets to one market to make it one gigantic market. Globalization presents traders and marketers many options for purchase and sales of various goods. More to that, the market surpasses the local and regional market and grows into the globally. Globalization presets a wider market for enterprises that seek to widen its consumer and customer base.
Prospects
However, for such a huge market, there are losers and winners. The winners include several marketers among them those who sell their goods at subsidized prices. This means if one is able to offer a product to the buyers at the lowest prices, then one is bound to attract more buyers for the products that they are offering. It may also mean that companies in charge of the product sales bring in more profits than when operating on a smaller market. Such companies can include the Walmart enterprise that has enjoyed large profits for offering products at subsidized prices1. Also, it may offer larger companies more opportunities as they can make more capital investments towards offering various products and products in large quantities, as well as more services.
 It does take more money to set up base in other countries.  Therefore, it presents a means by which they can bridge the price constraints most sales and purchases that happen globally present. Among the companies that have enjoyed such services include logistics, shipping firms and transportation firms as well. Some examples of companies that have succeeded in such a [1]
manner include the Maersk [2]group of companies, DHL and others like Wells Fargo. Globalization enables buyers to purchase quality products at low prices2. Some of the testaments to these facts can be seen in the variety of similar products offered that have continually been offered in global e-commerce markets such as Amazon, Ali-express, Asos, Topshop and others like the global e-commerce magnet, Alibaba.
Problems
However, even with this, there are some losers as well. Companies that offer customer tailored products that sell at a fixed price stand to suffer massive losses and also loose out on customers and consumers, due to the companies that offer similar products. Unless they can offer such products at cheaper prices or form memorandums of understanding with similar companies or government agencies, then they stand losing more on sales, and even risk closure of businesses. Some of the companies that have experienced such turbulent times in the wake of globalization in the past, included Siemen Business Services. Globalization resulted in more workers losing jobs and most of the remaining ones being paid lower wages. Moreover, more and more workers moved away from the cities after the wave, as the economic status was much better than life in the cities2. Additionally, there was less closeness to inflation and high interest rates that came about with competition experienced in the cities.
References
Mark, Stucke. Winners and Losers. (Films Media Group, 2000)

Schiffers, Steve. Globalisation shakes the world. (BBC News, January 2007)

[1] Mark, Stucke.Winners and Losers. (Films Media Group, 2000)

[2] Schiffers, Steve. Globalisation shakes the world. (BBC News, January 2007)

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