The company should invest in globalization as it would have several positive implications. Going global could benefit the company, allowing it to tap into new markets and expand its customer base. It can help the company diversify its business and reduce its dependence on any market or region (Ozturk, 2020). Moreover, going global can lead to cost savings through economies of scale. This would also increase brand awareness and boost customer trust across the globe, increasing sales.
There are a few ways in which globalization has impacted the marketplace as a whole. Firstly, globalization has led to an increase in international trade and investment. This has made it easier for companies to access new markets and customers helped create jobs, and spurred economic growth (Donaghy et al., 2021). Secondly, globalization has made it easier for companies to move their production facilities to lower-cost countries. This has put pressure on wages and working conditions in developed countries, leading to a race to the bottom regarding environmental and social standards (Seemann & Stofkova, 2021). Finally, globalization has led to the spread of harmful products and practices, such as tobacco, chemicals, and food additives. It has also contributed to the spread of infectious diseases, such as HIV/AIDS and Ebola.
Yes, my opinion has changed from the beginning of the course to now. At the beginning of the course, I thought that globalization was mainly a positive force. I believe that it helped to create jobs and spur economic growth. However, after learning more about the negative impacts of globalization, such as the race to the bottom in terms of environmental and social standards, I have revised my opinion. I now believe that globalization has both positive and negative impacts and that it is essential to consider the risks and rewards before making any decisions.
References
Donaghy, K., Beheshtian, A., Zhang, Z., & Brown-Steiner, B. (2021). Environmental impacts of globalization. Advances in Spatial Science, 7–23. Web.
Ozturk, I. (2020). The impacts of globalization, financial development, government expenditures, and institutional quality on CO2 emissions in the presence of Environmental Kuznets curve. Environmental Science and Pollution Research, 27(18), 22680–22697. Web.
Seemann, P., & Stofkova, Z. (2021). Impacts of globalization and conflicts on business performance and possibilities of its solution. SHS Web of Conferences, 92, 06032. Web.