Answer the following 3 questions (each approximately 500 words): Word count 1500 1. What is globalisation and how does it affect domestic businesses? In your discussion, include both positive and...

Globalisation and its effect on domestic businesses. Positive and negative impacts of globalisation
Globalization is associated with the
oadened horizons of market trade in the world. It has enabled small and big business owners to take their products to the world stage impacting their overall sales and performance. The effect of globalization can be felt in all business but especially in developing countries (Vercelli, 2017). The effect of globalization has altered the way in which small business owner conduct their business. With the increasing rise of newer companies and products, domestic companies are facing the grit of harsh competition like never before. The ripples of globalization have created waves that can be felt across the world. Previously, competition was domestic and among the local companies, now the stage has enlarged. Market share of global companies have increased (Bohn, Brakman, & Dietzenbacher, 2018). Increase in market share of many multinational companies are due to their successful market analysis, higher investments in their companies, accessing their product demands and developing innovative strategies. However, like domestic practices, these international transactions also follow several laws and regulations. The Domestic and International paradigms uphold the business policies that make trading safe and maintain a parity for all, yet in many cases the domestic business suffer due to the lack of manpower and the lack of funds for competing with the giants of the market (Haller, 2016).
We often come across several benefits and limitations when discussing globalization of domestic business practices. Although the critique of the positive side is much discusses, the increase in business transactions across borders have impacted the business in a positive way. The privatizations of small businesses that are owned by the state have resulted in the emergence of some of the most successful global markets (Senses, 2017). Formations of large multinational corporations are a direct result of globalization. Influence of westernization often thought to be elite and modern have been widely accepted as a part of cross-cultural globalization. Western culture and behaviour and cu
ency have become the norm of global markets (Hirst & Thompson, 2019). The geographical ba
ier of trade culture has been removed. Gone are the days when people had to travel for days to other countries to procure some of the most elite items. Technology has made the world into a much smaller place where a click can assure your desired items.
Despite the silver lining that the cloud of globalization portrays, much of the impacts of it have a very dark side. Immergences of foreign trade along with the influence of western culture have established a few countries as the superpowers of the trade underworld. Globalization has led to the extinction of many small scale and local industries that have failed to cope up with the competition from the big shots. Another prominent factor is that globalization has led to the outsourcing of jobs that were previously done at home, creating mass effect of...