Question

Who is/are the major beneficiary, meaning “winner” from globalization and increased world trade:
Select one:
a. Business
b. Workers
c. Governments
d. The Environment
e. Consumers

Answer 1

In my opinion, business has been the major beneficiary of Globalization and increased world trade. This can ne concluded from the following explanations:

Increased profits: Profit of a business can be increased through increased revenues and reduced costs. Globalization and international trade and investment have helped the business to benefit from differences in labour costs, availability of resources and capital, and differences in regulatory frameworks, such as taxation differences.

Growth: Globalization has helped the business firms to grow and maximize their profits through the benefits of larger scale production. There has been increase in the scale of operations by tapping the demand of foreign markets.

Motivation through competition: Domestic competition has always been a force for the business firms to move to foreign markets. Changes in international market also provided businesses with an opportunity to tap a new market.

Growth through strategies: Globalization helped different firms to gain a First mover advantage in a foreign market and getting an edge over rivals. This has provided technological leadership, brand image and competitive positioning to various business firms.

So, all in all, it can be said that it is the Business which has been the winner of Globalization.