The paper "Globalisation and Its Impact on Australia" is an outstanding example of a business essay. The manner that operations are carried out in the world has been changing over the past century. One of the tools that have helped in the change is globalisation. Although globalisation has been in existence for over half a century, it is still a contemporary issue that continues to influence various sectors. The paper will discuss globalisation as a contemporary international business issue and discuss the effects, both negative and positive on Australia. Globalisation has been defined in many different ways.
One popular definition is that it is a process that enables many countries of the world and their respective nationals to be interdependent (Sheil, 2001). Globalisation changes a country’ s economic sector by affecting trade, foreign investment and even immigration. Apart from impacting the economic dimensions, globalisation affects other areas including political, cultural and even environmental sectors. Interactions between countries have been inhibited by both man-made and natural barriers. Globalisation, through its various sectors such as technological innovations, has removed the barriers making it easier for countries to interact with each other whereas enabling independence.
The most common base of interaction is international trade, enhanced by importation and exportation. Technological advancement has helped in boosting trade by eliminating transportation and communication costs brought up by the difference in geographical locations (Sheil, 2001). The world has become a global village due to globalisation. It has enabled people to transfer the freedom they enjoy on a national level in the various sectors including trade, investment, and work on a global scale (Tazreiter & Tham, 2013). Apart from freedom, several disadvantages have also been experienced as a result of globalisation.
Values that were maintained on a local scale have been lost in many countries due to increased interactions.
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