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GLOBALIZATION AND BUSINESS OPPORTUNITIES (PROS (Spurred the spread of new…
GLOBALIZATION AND BUSINESS OPPORTUNITIES
PROS
Spurred the spread of new technology
Outsourcing
Increased competition
Helps reducing gender wage discrimination
Improved working conditions across the board
HISTORY
European Colonization
Western Europe conquered parts of Africa and America to trade for raw materials.
From XIV to XVIII century
1st Industrial Revolution
From 1760 to about 1840
In western Europe (mainly the UK) and the US
Newfound methods of making products (factory made) demanded new markets and more raw material.
2nd Industrial Revolution
From late XIX century to late XX century
New energy sources (electricity and petroleum) and a new material (steel) started a revolution in the communication and transportation businesses.
3rd Industrial Revolution
From the 1950s until now
Better communication and better armament ,computing and robotics brought major advantages in other areas like medicine, production and finance
CONS
the risk of job insecurity is increasing
fluctuation in price across the globe
CHALLENGES COMPANIES HAVE TO FACE
Having better business strategies
New need for better organizational structure
Public Relation
Keeping up with technology
