Tuesday, September 10, 2019
Business Development and the Nature Globalization Essay
Business Development and the Nature Globalization - Essay Example These tasks involve sales, marketing, as well as the development of suitable and reliable strategies for the business organisation. The attention of all businesses should be directed towards the establishment of marketing teams with suitable strategies as well as focus on business expansion. Globalisation is all about expansion; hence, Avny (2006) believes that business entities are obliged to embrace the concept in order to achieve immense expansion and generate significant revenue for its self as well as national growth and development. Globalisation, as earlier noted is a product of human innovation and rapid advancement in technology. Technology presents business organisations with numerous opportunities that can be pivotal in the success or rather development of a business entity. The frequent identification of these opportunities presented by technology makes it possible for these small business entities to expand and reach international markets and as a result bring in more in come. Thus, Todaro and Smith (2009) opine that business developmentÃ¢â¬â¢s major role is to help firms identify and take advantage of the emerging market opportunities. The Nature of Globalisation Among the phenomena worth taking note of across the last period of the twentieth century is globalisation. By itself, it carries significant importance both in developing or what are referred to as Least Developed Countries (LDCs), and developed nations across the globe. The processÃ¢â¬â¢ emergence and expansion can be credited to the advancements made in the transportation sector, communications as well as the rapid technological advancement towards the end of the twentieth century and into the twenty first century (Avny, 2007). The advancements made have helped in the reallocation of human... This essay approves that the growth and development of infrastructure like roads and communication lines have resulted in the reduced intervals between the travel times taken from the production and or manufacturing point to destination and or sale points enabling more countries to take part in the trade. The growth of these activities has seen more opportunities arise for the development of business entities which has been a credible contributor to the advancement in the economy of LDCs. It is easy to see the amount of similar products that are flooding the world markets in the contemporary world; an indicator that the world is moving in the direction of becoming a one-village market and or community. According to Birdsall, Rodrik and Subramanian, these developments result in the fast growth and development of these nationsÃ¢â¬â¢ economies due to the increased multinational trade. The activities involving movement and or exchange of capital included indirect and direct financial i nvestments in least developed countries (LDCs) with the aim of raising the incomes and or revenue of the countries. The local businesses and or industries are required to meet international standards as a requirement of globalisation and as a result some are forced to merge with other multinationals in order to increase their operations. This report makes a conclusion that globalisation is an evoking concept that still is opposed by an ideological minority unable to deny the benefits associated with globalisation knowledge with respect to development of businesses as well as national economies. The few who view globalisation as some form of capitalism should drop the idea and embrace the concept as a major factor in business development.