Globalization refers to countries becoming more economically and socially interconnected on a global scale. It is driven by improved communications technologies, transportation, free trade agreements, global banking, and the growth of multinational corporations. The effects of globalization include changes to food supply and labor markets, less job security, environmental impacts, and cultural influences. While globalization provides benefits like increased trade and investment, it also poses challenges such as the movement of jobs to lower-cost countries and corporate influence over governments. Overall, globalization is an ongoing process that both societies and businesses must adapt to in order to balance its opportunities and costs.

1. Presented by: KishanChauhan

2. G
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Globalization refers to the trend toward countries joining
together economically, through education, society and
politics, and viewing themselves not only through their
national identity but also as part of the world as a
whole.
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3. Causes of Globalization:
1. Improved Communications
. The development of communication
technologies such as internet, email and
mobile phones have been vital to the growth
of globalisation because they help MNCs to
operate throughout the world.
. The development of satelliteTV channels such
as BBC andCNN have also provided worldwide
marketing avenues for the concept and
products of globalisation.

4. Causes of Globalization
2. Improved Transport
. The development of refrigerated and
container transport, bulk shipping and
improved air transport has allowed the easy
mass movement of goods throughout the
world.This assists globalisation.

5. Causes of Globalization:
3. Free Trade Agreements
. MNCs and rich capitalist countries have
always promoted global free trade as a way
of increasing their own wealth and influence.
. International organisations such as theWorld
TradeOrganisation and the IMF also promote
free trade.

6. Causes of Globalization:
4. Global Banking
. Modern communication technologies allow vast
amounts of capital to flow freely and instantly
throughout the world.
. The equivalent of up to $US1.3 trillion is traded
each day through international stock exchanges
in cities such as NewYork, London andTokyo.

7. Causes of Globalization:
5. The Growth of MNCs
. The rapid growth of big MNCs such as Microsoft,
McDonalds and Nike is a cause as well as a consequence
of globalisation.
. The investment of MNCs in farms, mines and factories
across the world is a major part of globalisation.
. Globalisation allows MNCs to produce goods and
services and to sell products on a massive scale
throughout the world.

8. The Effects of Globalization:
1.Changed Food Supply
. Food supply is no longer tied to the seasons.
We can buy food anywhere in the world at
any time of the year.

9. The Effects of Globalization:
2.Division of Labour
. Because MNCs search for the cheapest locations
to manufacture and assemble components,
production processes may be moved from
developed to developing countries where costs are
lower.

10. The Effects of Globalization:
3.Less Job Security
. In the global economy jobs are becoming more
temporary and insecure.
. A survey ofAmerican workers showed that
people now hold 7 to 10 jobs over their
working
life.

11. The Effects of Globalization:
4.Damage to the Environment
. More trade means more transport which
uses more fossil fuels and causes
pollution.
. Climate change is a serious threat to our
future.

12. The Effects of Globalization:
5.Cultural Impact
. Websites such asYouTube connect people
across the planet.As the world becomes
more unified, diverse cultures are being
ignored. MNCs can create a monoculture as
they remove local competition and thereby
force local firms to close.
Replacing

13. The Effects of Globalization
6. Increase in anti-Globalisation
Protests
. There is a growing awareness of the
negative impacts of globalisation. People
have begun to realise that globalisation can
be challenged by communities supporting
each other in business and society and
through public protest and political
lobbying.

14. Advantages of globalization
. Increased free trade between nations
. Increased liquidity of capital allowing
investors in developed nations to
invest in developing nations
. Corporations have greater flexibility
to operate across borders

16. Advantages of globalization
. Global mass media ties the world
together
. Increased flow of communications
allows vital information to be shared
between individuals and corporations
around the world
. Greater ease and speed of
transportation for goods and people

17. Advantages of globalization
. Reduction of likelihood of war
between developed nations
. Increases in environmental protection
in developed nations.

18. Disadvantages of globalization
. Increased flow of skilled and non-skilled jobs
from developed to developing nations as
corporations seek out the cheapest labor
. Increased likelihood of economic disruptions
in one nation effecting all nations
. Corporate influence of nation-states far
exceeds that of civil society organizations and
average individuals

19. Disadvantages of globalization
. Threat that control of world media by a
handful of corporations will limit cultural
expression
. Greater chance of reactions for globalization
being violent in an attempt to preserve
cultural heritage
. Greater risk of diseases being transported
unintentionally between nations

20. Analysis
Globalization Is Here to Stay!
Globalization does have problems and
negative effects, but it is not going to
disappear. So…
We need to learn how to reap its
benefits, and minimize its costs. To do
that, we must:
Understand its impacts
Work to remedy the problems
Work to spread the benefits as widely as possible

21. Complexities of International
Business
• Reporting requirements:-These are becoming more stringent
to drive greater transparency and investor confidence, while
tackling money laundering, tax evasion, and other crimes. Over
80% of the jurisdictions where TMF Group operates have
committed to exchanging information under the Common
Reporting Standard developed by the organisation for Economic
Co-operation and Development.
• Legislative changes:- These are becoming more frequent. Their
intention is often positive; for example, to bolster an economy or
make a country more attractive for investment. Some are not
likely to be simplifying, such as the yet-to-be-defined UK rules
that will apply post-Brexit. Regardless of their intent or the
politics behind them, they all require work by companies to stay
compliant.

22. Complexities of
International Business
• Labour laws:- Legislators, often in response to
local political pressures, create difficulty for firms
looking to operate globally. Where we operate,
specific reporting requirements and impediments
to hiring staff before a business has been
incorporated as a legal entity are major hurdles
for firms.
• Penalties for noncompliance:- Penalties
imposed by the authorities are seen as
disproportionately high in many jurisdictions.
With serious breaches, reputation and even
survival are threatened, as exemplified by
multibillion-dollar fines applying to banks caught
up in money laundering and market abuse cases.

23. Complexities
of International Business
• Accounting and tax requirements:- Local authorities often
now prescribe their own reporting formats. For example, some
Greek islands operate as independent provinces for compliance
and tax. VAT refunds are subject to different treatments,
depending on the tax office. In Greece, we have seen individual
cases of dividends being taxed at rates varying by more than 10%.

24. PRESENTED BY:-
DEVESH KUMAR(19-833)
KISHAN CHAUHAN(19-1072)
TOVREZ ALAM(19-1134)
FIROZ GANI