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7 Factors Influencing Globalization - Discussed!
7 Factors Influencing Globalization - Discussed!
7 Factors Influencing
Globalization –
Discussed!
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(1) Historical:
The trade routes were made over the years so that goods
from one kingdom or country moved to another. The
well known silk-route from east to west is an example of
historical factor.
(2) Economy:
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5/2/2017 7 Factors Influencing Globalization – Discussed!
(3) Resources and Markets:
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Stock Market
ADVERTISEMENTS: 5.42 13
5.27 16
6.37 1
Stock market is
important for new
financing
6.26 1
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5/2/2017 7 Factors Influencing Globalization – Discussed!
Science and
Engineering
5.05 8
Schools excel in basic
science and maths
Country has a large pool
6.77 1
of competent scientists
and engineers 5.40 9
Engineering as a 5.37 14
profession greatly
5.56 19
attracts young talent
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Labour Force
Country has an
abundant labour force
Rate of Law
Judiciary is
independent of the
government
government actions
Weakness
Financial Markets
Financial sector
sophistication is lower
than international
norms
Public Administration
Administrative 2.90 47
regulations that
2.68 52
constrain business are
pervasive
2.65 43
Government subsidies
2.27 48
keep old industries alive
1.92 53
Civil Service is subject
to political pressures
Infrastructure 2.18 53
Road infrastructure
constraints business
development
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5/2/2017 7 Factors Influencing Globalization – Discussed!
Labour Regulations
Labour regulations
impede adjustment of
working hours to meet
changes in demand
Corruption and
Bribery
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5/2/2017 7 Factors Influencing Globalization – Discussed!
Extra payment
connected with permits
and licenses are
common
(4) Production Issues:
Utilisation of built up capacities of production,
sluggishness in domestic market and over production
makes a manufacturing company look outward and go
global. The development of overseas markets and
manufacturing plants in autos, four wheelers and two
wheelers is a classical example.
(5) Political:
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5/2/2017 7 Factors Influencing Globalization – Discussed!
(6) Industrial Organisation:
The technological development in the areas of
production, product mix and firms are helping
organisations to expand their operations. The hiring of
services and procurement of sub-assemblies and
components have a strong influence in the globalisation
process.
(7) Technologies:
Eight barriers in economic activities:
Many countries in Particular developing ones impose
restrictions to globalisations by:
Transport, communication and IT:
The technological revolution the world has witnessed in
the last two decades is overwhelming. Development has
immensely influenced world trade by bridging space
and time. IT has revolutionised the way the business
goes. E-money, e-banking, B2B business, B2C business
and internet have added to speed up globalisation.
Buying and selling of stocks and transfer of funds can
take place now instantly.
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