Question

Globalization is a concept that is impacting many firms. In this we will discuss the implications of globalization and its impact on how firms operate.

Identify two companies active in international business and explain their role in the global economy. Now, with your same two companies, explain globalization and how it affects markets and production.

Your initial post should be between 250-500 words. These should be 1-2 paragraphs and appropriately extend the discussion.

Answer 1

The two international companies that have already made a global impact are GOOGLE and FACEBOOK.
Google has transformed the work with its technology in these past 20 years with its free and wide information on any topic of this universe. It has lehped all kinds of business through their advertising and entertainment tools like Google Play, You-Tube and google tools. It has made interaction easy all over the world through GOOGLE DUO. Apart from this it has transformed learning and teaching in classrooms and have introduced office collaborative tools of storing and accessing data from anywhere in the form of Google drive, google docs, slide, sheets and much more. Google helps millions of customers to know the reviews about the products and services. Even businesses can post about their business and make it popular through google ads and business. Google Maps is another invention in the world which has made travel so easier and the places that were never traveled now are being explored.
Talking about the famous social networking site Facebook which has purchased Whats app and Instagram has removed the barrier of distance and time. It is one of the most popular platforms for networking and even marketing. Facebook now in the word is known for creating new jobs and knowing much more about a person his likes and dislikes which provides the customer database to many business organisation and one of the most wanted targets for digital marketing. Facebook has helped people in raining funding for charities, customers for events, promotion of products online and even starting their business online.

Globalisation is the integration of one's economy with the world economy. It is when the trade barriers are removed and there is a free flow of information, resources and technology in and out of the country. Globalisation helps the company in tapping the resources which may not be available in the domestic country. It helps the business to have low-cost labour, quality resources and even advanced technology which reduces the overall cost of production. Globalisation helps the business to increase the target base of customers by focusing on global market. This helps in growth and expansion. Globalisation also brings innovation and expertise of other nations which helps in the development of the human resources of the company and having an advantage over other domestic business. It also leads to higher production of goods and services leading to more profits for the company and increased GDP for the domestic economy. This in turn increase income levels in the world and raises standard of living of people.