Question

Identify and define the engines of globalization and give a specific example of each

Answer 1

Globalisation is being affected by many factors and its been gradually changing as well as developing. Discuss Pacific development is taking shape with the help of some of the external forces in the globalisation which can be described as follows.  

Technological advancement

Increased customer demand

Intense competition  

• Technological advancement

World is moving towards a digital age and most of the organisations are turning digital. This specific advancement process of being digital is leaving a huge impact on the overall organisational structures across the globe. By having an organisational structure which is directly Technology oriented, overall efficiency as well as productivity of the specific organisations is also increased. If a company is not technologically advanced it will definitely go out of the race as it couldn't be able to match the pace of the specific industry. Technological advancement plays an important role in increasing the overall communication as well as efficiency of different departments inside an organisation. From supply chain management managing the internal human resources of the organisation requires technological advancement and its benefits as it's really hard to keep track of increasing population as well as employee inside an organisation. With the help of the electronically managed system one can easily increase the overall level of compatibility towards the specific organisation. With the help of the technological advancement a company can easily compete with the help of different resources like Internet and other technological terms. By implementing automation as well as different robotic techniques which are literally technically very advanced can benefit a company or an organisation by a huge margin as it provides an edge over the human resources. We can see that technological advancement plays an important role in shaping the shape of globalisation of industries.

Steiner electric is one of the finest examples of taking benefit of the technological advancement, by implementing New Year digital strategies into the structure Schneider Electric has gained a very large share of market.  

• Increased customer demand  

Increase in customer demand also provides inability to supply more for the organisations. Specific increasing customer demand increases the overall production of the manufacturing plants which directly increases the sales of the organisations and provides a support as well as better revenue generating system for organisations. By having a support system for the customer demand, level of compatibility of the specific industry is widely increased toward the customer. What a customer needs and what region is requesting directly shapes the overall industry of that specific region and provides a very Basic support as well as advancement in the same industry. This specific increase in customer needs also increases the level of implementation of different innovative strategies and provide a better value for customer as the competition goes up.

For an example prices of soaps and cosmetics have been very much degraded since last few decades its thundering effect of increased in customer demand help the overall level of competitors and in the market and the price is lower with the help of new innovations as well as different strategic improvements.  

• Intense competition  

Globalisation is facing competition. It is the one of the main factors which influence the overall process of globalisation. Increased competition at a huge scale and directly involvement of the different companies into the competition increases the level of innovation in the organisations. This specific increase in innovation directly affects the user and the customer as it provides better services and products to the customer at the same price point because of the competition. Increasing competition also provides space for innovation which is required for each and every industry across the globe.

A fine example for competition would be automobile companies Industries across the globe who directly compete with each other for creating better products for the automobile industry.  

One of these factors are driving a change in the total structure of globalisation as well as they are also increasing the level of competition which is giving birth to new innovations in international markets benefiting with customers as well as different organisations in terms of getting better outcome of the similar approaches.

P.S.- please leave a comment if an explanation is needed.