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MNG 00723 Assessment 1: Short written response (20 marks) 1500 words Answer the following 3 questions (each approximately 500 words): 1. What is globalisation and how does it affect domestic...

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MNG 00723 Assessment 1: Short written response (20 marks) 1500 words
Answer the following 3 questions (each approximately 500 words):
1. What is globalisation and how does it affect domestic businesses? In your response, include a definition of globalisation, and discuss at least three positive and three negative impacts of globalisation. (6 marks)
2. Explain Factor Proportions Theory and International Product Cycle Theory. Also discuss one limitation for each of these two theories using real examples. (6 marks)
3. Donald Trump, president of United States of America, announced the imposition of tariff on Chinese imports in the recent past. Based on your understanding of the first 3 topics of this unit, (i) what could have been the reason/logic behind such a comment/decision, and (ii) what are the implications of such an intervention on domestic consumers? (8 marks)
You are expected to use at least 5 academic sources (excluding the textbook) to support your viewpoints.
Please place the word count for this assignment on the cover sheet. 10% more or less than 1500 words is acceptable. The marker may, at their discretion, discontinue marking if you go above 10% of the recommended word limit.
Marking Criteria:
    Question 1
    Question 2
    Question 3
    Total Marks XXXXXXXXXXmarking criteria-wise)
    Demonstration of theoretical understanding
    Quality of arguments supporting the given answe
    Communication (spelling, grammar, sentence construction)
    References (referencing format, quality of the source cited)
    Total Marks (question-wise)
Answered Same Day Jul 23, 2020 MNG00703 Southern Cross University


Parul answered on Jul 26 2020
106 Votes
Ans1. Taking reference from “The History and Dynamics of Globalisation. Diplomacy & Statecraft”, (Ferguson, Y. 2014) globalization is a movement that has launched businesses on an internal platform
idging gaps and cutting through incorporating and em
acing different cultures, markets and social system that is associated with multiple countries. Essentially, it can be explained as global integration and strengthening the economic activities worldwide that results in the interdependence among the countries. Thus, it is a process of opening the platform for nations and markets to interact and integrate on the global level which leads in integration of social, economic, cultural and political systems all across the boundaries for production of goods and services co
espondingly its consumption. Backbone of this globalisation is IT revolution and enhancement of information communication technology along with liberations of international laws and deregulations of restrictions. In a nutshell globalization can be defined as a movement by the virtue of which nations are able to trade in an international platform and pitch to a much wider audience and markets.
Taking reference from “Is Globalisation Sustainable?. Sustainability”, (Martens, P. and Raza, M., 2010) nations that are able to trade and business across many different countries taking leverage from minimum ba
iers on trade are acknowledged as economic globalisation. While degree to which information and thoughts are transfe
ed and flown freely amongst people from home country to other countries can be considered as social globalization. This also takes in account information passed through social media and other internet platforms. Last form of globalisation is related to political by-ins and degree to which collaboration and cooperation is provided by political institutions amongst the home country and rest of the counter countries to furnish proper flow of business.
Taking reference from “Pros and Cons of Globalization: Controversy and Discussion”, (Gibson, N., 2014) impact of this phenomenon can be
oadly clu
ed under two categories - market & production globalization. First category emphasis on the reducing the ba
iers and decline restrictions to buy and sell in countries that are other than home country. These changes have created a scenario where it becomes much easier for an organisation to sell its products not just to people in home country but also in internal markets. One of the major consequence of globalisation reducing the tariffs thereby
inging down the prices and creating a win-win situation for sellers and consumers. While an organisation enters a new country they must take into consideration its cultures while developing its strategies and co
espondingly adapt its services or product with their marketing message to accomplish its targets to enter that market in first place. For instance, when McDonalds entered into different countries they had to change its menu as per the local taste conventions of particular geographies like they had "Aloo Tikki Burger" for Indian taste. While the other category which is called the production globalisation by the virtue of which sourcing of ingredients and materials or services from different countries becomes extremely easy and highly advantageous from the virtue of price and cost.
Impact of globalisation on domestic businesses is explained below

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