Or
Email: 📠support@passmyexams.net
Essay The Conditions That Have Led to The Development of Global Markets
The development of global markets is facilitated by a supportive environment from social, cultural, political, technological, among others. According to Ristovska and Ristovska (2014), the global market changes are enhanced by a positive change in the political environment, economic and the development of communications, transport, and technology. These factors impose the need for the business to change their strategies, including going out from the borders of their own countries.
According to Jabbour and Zuniga (2016), the emergency of global markets is mainly enhanced by communication technology. The emergency of information and communication technology (ICT) is a leading factor in the globalization process. The world economy is connected through ICT, and business operations worldwide are linked through the worldwide web. For instance, the ICT facilitates business operations through the business-to-business website. Technology avails payment methods worldwide, such as wire transfer, PayPal, visa, and others, ensuring businesses run smoothly.
Salvioni and Bosetti (2014) note that ICT is increasingly playing an important role in the organization and the society at large through helping businesses to access the global markets through online platforms. For instance, this is achieved through established websites such as Amazon and Alibaba, where one can sell their products to various clients across the world. Moreover, technological globalization is enhanced through technological diffusion, which refers to the spread of technology across borders (Salvioni & Bosetti, 2014). Therefore, technological advancements such as mobile phones have also contributed to global markers in terms of enhancing concurrent improvement of products, lowering prices to facilitate penetration to global markets, and enhancing competition that helps the entry of new businesses.
The transport network in the world is connected through road networks, railway lines, seaports, and airports. The interconnected transport network makes it easier to access various world markets that serve as outlets for goods and services and inlets of processed and manufactured goods (Salvioni & Bosetti, 2014). Moreover, the transport networks make it easy to move staff and employees from one country to another. Globalization thrives where there are lower barriers to investment and trade. Therefore, well-connected transport networks enhance efficiency in reducing the cost of transportation, and connection between the source or raw materials and the manufacturers or processors can reduce the operation cost that helps them be competitive in the market by reducing the cost of goods and services.
The political goodwill among the countries has created an enabling environment by establishing economic blocks such as commonwealth that facilitate global markets. The economic blocks give members benefits that help them to be competitive in the global markets. For instance, exempting member countries from taxation, reducing the travel barriers, among others. Consequently, the ease of doing business reflects in reducing the cost of operations. This helps businesses be competitive in the global market by selling products at lower prices and ensuring sustainability in their operations.
The needs and demands for the global market are due to the limited market, competitive market, and the demand for cheaper resources that have forces businesses to look elsewhere in countries that offer affordable raw materials and products (Salvioni & Bosetti, 2014). Moreover, the demands and needs for most businesses and countries are converging in the global markets, such as the need for standardized products and reasonably high-quality products. Therefore, it is important to note that the dynamics of post-modernism business leaders focus on alternative measures for a successful business, such as entrance into the global markets to realize competitive advantage.
Purchase high-quality assignment answers online from our professional essay writing company, passmyexams.net. Our team of skilled online assignment writers is experienced in handling assignments of all difficulty levels and academic fields. Whether you need a short essay or a comprehensive dissertation/thesis, we have got you covered. Rest assured that all our papers are original and custom-written from scratch to meet your requirements.
Write My Paper For Me: Legit Essay Writing Company
