Skip to main content

ASSIGNMENT – 1

BUSINESS ENVIRONMENT & INDIAN ECONOMY
MBA 1st Semester






SUBMITTED TO: PROF. GURDEEPAK SINGH
SUBMITTED BY: MR. MOHIT VAISHNAV

Introduction
Globalization is the free movement of people, goods, and services across boundaries. This movement is managed in a unified and integrated manner. Further, it can be seen as a scheme to open the global economy as well as the associated growth in trade (global). Hence, when the countries that were previously shut to foreign investment and trade have now burned down barriers.
Liberalization) is any process whereby a state lifts restrictions on some private individual activities. Liberalization occurs when something which used to be banned is no longer banned, or when government regulations are relaxed.

Discussion
·       Improved Standard of Living and Better Purchasing Power: Wealth generation across Indian cities has enhanced since globalization has fully hit the nation. You can notice an improvement in the purchasing power for individuals, especially those working under foreign organizations. Further, domestic organizations are motivated to present higher rewards to their employees.

·       Globalization has Reduced Consumer Prices: Equally important, if not more, is that the new business opportunities created by globalization ultimately have resulted in lower consumer prices. For most people, the effective reduction in the costs of consumer products.

  • Cheaper Prices: Consumers can find products at cheaper prices, whether it be online or in stores.

  • Purchase Internationally:  Consumers can now by products that are not available to them with their country.

  • Variety: Consumers have the opportunity to buy a range of products; they are not limited to one type of brand.

  • Happy Costumer= Happy Business: Satisfying the needs and wants of costumers ensures that businesses are able to sell you products you love at even greater lower prices.

·       Increased investment: Globalisation has also enabled increased levels of investment. It has made it easier for countries to attract short-term and long-term investment. Investment by multinational companies can play a big role in improving the economies of developing countries.


·       Increase in quality of goods and services: As a result of globalization, people have access to the best quality of goods and services throughout the world. Companies have to strive to provide better quality goods and services to the consumer and the consumer has the liberty of choosing whichever product he thinks is best suited for his needs. This allows a person in America to wear clothes made in India and Mexico while watching a football match taking place in England on a TV made in China.


Conclusion
The debate around globalization being positive and or negative is an ongoing one. It can provide a stronger collective identity, empower individual and group distinctiveness while at the same time provide a means for representation, dis empowerment and an avenue for further colonization.
Globalization is showing its impact at high pace. It is bringing the nations closer and together to achieve high level of growth and success. But many other challenges are to be faced by the organisations because of globalization. Globalization cannot be ignored as this is the need of the hour.




Comments

Post a Comment

Popular posts from this blog

Customer benefited from increased competition by liberalization and globalisation

Introduction: Liberalization- Liberalization is any process whereby a state lifts restriction on some private individual activities. Liberalization occurs when something which used to be banned is no longer banned, or when government  regulations  are relaxed.  Economic liberalization  is the reduction of state involvement in the economy. Globalization- G lobalization   is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Discussion: There is strong evidence in many services, not least telecoms, that liberalization leads to lower prices, better quality and wider choice for consumers. Such benefits, in turn, work their way through the economic system and help to improve supply conditions for many other products. Thus, even if some prices rise during liberalization, fo...
1 comment
Read more
 Drawbacks Unregulated capitalism Meaning:- Capitalism is an economic system based on there private ownership of the means of production and their operation for profit. Capitalism include private property, capital accumulation, wage labor , voluntary exchange a price system and competitive market. Discussion:- A market cannot come into being without rule and regulations. Governmental regulation of markets is simply an attempt to assure that some measure of equality exists in our economic system. Human nature and individual differences. In a highly materialistic society like ours some people want more and more of everything that wealth brings: goods and services, resource control, status and power. We have a term for this motive: greed. Furthermore some people are simply better at economic competition than others. Our country rests on two fundamental but contradictory concepts: capitalism is one, and democracy is the other. If capitalism is a competitive sys...
1 comment
Read more

How have customer benefited by increased competition after liberalization and globalization?

Definition:- The Liberalization and Globalization. India under its New Economic Policy approached International Banks for development of the country. These agencies asked Indian government to open its restrictions on trade done by the private sector and between India and other countries. LIBERALIZATION The basic aim of liberalization was to put an end to those restrictions which became hindrances in the development and growth of the nation. The loosening of government control in a country and when private sector companies’ start working without or with fewer restrictions and government allow private players to expand for the growth of the country depicts liberalization in a country. OBJECTIVES OF LIBERALIZATION POLICY To increase competition amongst industries. To encourage foreign trade with other countries with regulated imports and exports. Enhancement of foreign capital and technology. To expand global market frontiers of the country. To diminish the debt bu...
1 comment
Read more