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Globalisation means integrating the economy of a country with the economies of other countries. Quotas and tariffs should be removed. Freedom should be given to the Business and Industries. Complete Autonomy should provided to the Public Sector to Compete with Private Sector companies.
Globalisation means integrating the economy of a country with the economies of other countries. Quotas and tariffs should be removed. Freedom should be given to the Business and Industries. Complete Autonomy should provided to the Public Sector to Compete with Private Sector companies.
Globalisation means integrating the economy of a country with the economies of other countries. Quotas and tariffs should be removed. Freedom should be given to the Business and Industries. Complete Autonomy should provided to the Public Sector to Compete with Private Sector companies.
MEANING OF GLOBALISATION Globalisation means integrating the economy of a country with the economies of other countries under condition of free flow of trade and capital and movement of persons across borders. Video-1.1 & 1 Institute of Technology and Science DEFINATION OF GLOBALISATION Globalisation may be defined as a process associated with increasing openness growing economic independence and deepening economic integration in the world economy Institute of Technology and Science DEFINATION OF GLOBALISATION IMF defines globalisation as, The growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transaction in goods and services and of international capital flows and also through the more rapid and widespread diffusion of technology. Institute of Technology and Science DEFINATION OF GLOBALISATION Charles W.L. Hill defines globalisation as, The shift towards a more integrated and interdependent world economy. Globalisation has two main components- the globalisation of markets and the globalisation of production. Institute of Technology and Science FEATURES OF GLOBALISATION Business Expand throughout the World. No Barrier for Bought and Sold. No Difference. Free Flow of Technology between nations. Entire World. Feasibility and Viability. Outsourcing. Free movement of labour can take place. Institute of Technology and Science SOURCES OF GLOBALISATION Technological advances. Trade Liberalization. Change in Institutions due to Technology. Global agreement on Ideology. Cultural Movement.
Institute of Technology and Science PROCESS OF GLOBALISATION(Ohame) 1 st stage- Domestic company- Dealer 2 nd stage- Domestic company- Direct 3 rd stage- Domestic company becomes International. 4 th stage- Become Autonomous 5 th stage- No Barriers.
Institute of Technology and Science ESSENTIAL CONDITIONS Quotas and tariffs should be removed. Freedom should be given to the Business and Industries. Complete Autonomy should provided to the Public Sector to Compete with Private Sector companies. Administrative and governmental support is the pre-condition for the success. Rules & Regulations control of should be liberalized to encourage Globalization.
Institute of Technology and Science ESSENTIAL CONDITIONS Compititiveness based on Quality, Price , Customer Services etc. should be encouraged. The Government should provide adequate support in the form of Finance, Research & Development etc. Money and Capital Market should be developed. Institute of Technology and Science ESSENTIAL CONDITIONS Bureaucratic hurdles in the process of globalisation should be removed. The suitable globalisation strategies and a global orientation on the part of the business firms are essential for globalisation.
Institute of Technology and Science The drivers of globalisation Market drivers Per capita income converging among industrialised nations Convergence of lifestyles and tastes Organisations beginning to behave as global customers Increasing travel creating global consumers Growth of global and regional channels Establishment of world brands Push to develop global advertising Cost drivers Continuing push for economies of scale Accelerating technological innovation Advances in transportation Emergence of newly industrialised countries with productive capability and low labour costs. Increasing cost of product development relative to market life Government drivers Reduction of tariff barriers Reduction of non-tariff barriers Creation of blocs Decline in role of governments as producers and customers Privatisation in previously state-dominated economies Shift to open market economies from closed communist systems in eastern Europe Increasing participation of China and India in the global economy Competitive drivers Continuing increases in the level of world trade Increased ownership of corporations by foreign acquirors Rise of new competitors intent upon becoming global competitors Growth of global networks making countries interdependent in particular industries More companies becoming globally centred rather than nationally centred Increased formation of global strategic alliances Other drivers Revolution in information and communication Globalisation of financial markets Improvements in business travel Market drivers Per capita income converging among industrialised nations Convergence of lifestyles and tastes Organisations beginning to behave as global customers Increasing travel creating global consumers Growth of global and regional channels Establishment of world brands Push to develop global advertising Cost drivers Continuing push for economies of scale Accelerating technological innovation Advances in transportation Emergence of newly industrialised countries with productive capability and low labour costs. Increasing cost of product development relative to market life Government drivers Reduction of tariff barriers Reduction of non-tariff barriers Creation of blocs Decline in role of governments as producers and customers Privatisation in previously state-dominated economies Shift to open market economies from closed communist systems in eastern Europe Increasing participation of China and India in the global economy Competitive drivers Continuing increases in the level of world trade Increased ownership of corporations by foreign acquirors Rise of new competitors intent upon becoming global competitors Growth of global networks making countries interdependent in particular industries More companies becoming globally centred rather than nationally centred Increased formation of global strategic alliances Other drivers Revolution in information and communication Globalisation of financial markets Improvements in business travel The drivers of globalisation Market drivers Per capita income converging among industrialised nations Convergence of lifestyles and tastes Organisations beginning to behave as global customers Increasing travel creating global consumers Growth of global and regional channels Establishment of world brands Push to develop global advertising Cost drivers Continuing push for economies of scale Accelerating technological innovation Advances in transportation Emergence of newly industrialised countries with productive capability and low labour costs. Increasing cost of product development relative to market life Government drivers Reduction of tariff barriers Reduction of non-tariff barriers Creation of blocs Decline in role of governments as producers and customers Privatisation in previously state-dominated economies Shift to open market economies from closed communist systems in eastern Europe Increasing participation of China and India in the global economy Competitive drivers Continuing increases in the level of world trade Increased ownership of corporations by foreign acquirors Rise of new competitors intent upon becoming global competitors Growth of global networks making countries interdependent in particular industries More companies becoming globally centred rather than nationally centred Increased formation of global strategic alliances Other drivers Revolution in information and communication Globalisation of financial markets Improvements in business travel The drivers of globalisation Market drivers Per capita income converging among industrialised nations Convergence of lifestyles and tastes Organisations beginning to behave as global customers Increasing travel creating global consumers Growth of global and regional channels Establishment of world brands Push to develop global advertising Cost drivers Continuing push for economies of scale Accelerating technological innovation Advances in transportation Emergence of newly industrialised countries with productive capability and low labour costs. Increasing cost of product development relative to market life Government drivers Reduction of tariff barriers Reduction of non-tariff barriers Creation of blocs Decline in role of governments as producers and customers Privatisation in previously state-dominated economies Shift to open market economies from closed communist systems in eastern Europe Increasing participation of China and India in the global economy Competitive drivers Continuing increases in the level of world trade Increased ownership of corporations by foreign acquirors Rise of new competitors intent upon becoming global competitors Growth of global networks making countries interdependent in particular industries More companies becoming globally centred rather than nationally centred Increased formation of global strategic alliances Other drivers Revolution in information and communication Globalisation of financial markets Improvements in business travel The drivers of globalisation Market drivers Per capita income converging among industrialised nations Convergence of lifestyles and tastes Organisations beginning to behave as global customers Increasing travel creating global consumers Growth of global and regional channels Establishment of world brands Push to develop global advertising Cost drivers Continuing push for economies of scale Accelerating technological innovation Advances in transportation Emergence of newly industrialised countries with productive capability and low labour costs. Increasing cost of product development relative to market life Government drivers Reduction of tariff barriers Reduction of non-tariff barriers Creation of blocs Decline in role of governments as producers and customers Privatisation in previously state-dominated economies Shift to open market economies from closed communist systems in eastern Europe Increasing participation of China and India in the global economy Competitive drivers Continuing increases in the level of world trade Increased ownership of corporations by foreign acquirors Rise of new competitors intent upon becoming global competitors Growth of global networks making countries interdependent in particular industries More companies becoming globally centred rather than nationally centred Increased formation of global strategic alliances Other drivers Revolution in information and communication Globalisation of financial markets Improvements in business travel The drivers of globalisation Market drivers Per capita income converging among industrialised nations Convergence of lifestyles and tastes Organisations beginning to behave as global customers Increasing travel creating global consumers Growth of global and regional channels Establishment of world brands Push to develop global advertising Cost drivers Continuing push for economies of scale Accelerating technological innovation Advances in transportation Emergence of newly industrialised countries with productive capability and low labour costs. Increasing cost of product development relative to market life Government drivers Reduction of tariff barriers Reduction of non-tariff barriers Creation of blocs Decline in role of governments as producers and customers Privatisation in previously state-dominated economies Shift to open market economies from closed communist systems in eastern Europe Increasing participation of China and India in the global economy Competitive drivers Continuing increases in the level of world trade Increased ownership of corporations by foreign acquirors Rise of new competitors intent upon becoming global competitors Growth of global networks making countries interdependent in particular industries More companies becoming globally centred rather than nationally centred Increased formation of global strategic alliances Other drivers Revolution in information and communication Globalisation of financial markets Improvements in business travel The drivers of globalisation Types/Components of Globalisation Globalisation of Markets Globalisation of Production Globalisation of Technology Globalisation of Investment
Institute of Technology and Science Measures Taken for Globalisation Reduction of Import Duties Encouragement of Foreign Investment Encouragement of Foreign Technology Agreement New EXIM Policy Reducing Custom Duty Devaluation of Currency Partial Convertbility Long-Term Trade Policy
Institute of Technology and Science Average Tariff Rates on Manufactured Products 1913 1950 1990 2002 France 21 % 18 % 5.9 % 4.0 % Germany 20 % 26 % 5.9 % 4.0 % Italy 18 % 25 % 5.9 % 4.0 % Japan 30 % -- 5.3 % 3.8 % Holland 5 % 1 % 5.9 % 4.0 % Sweden 20 % 9 % 4.4 % 4.0 % UK -- 4% 5.9 % 4.0 % US 44 % 14 % 4.8 % 4.0 % ADVANTAGES Increase in Competitive. Access to Advanced Technology. Access to Foreign Investment. Reduction in Cost of Production. Growth and Expansion. Higher Volume of Trade. Consumer Welfare. Other Benefits.
Institute of Technology and Science DISADVANTAGE Threat to Domestic Industry. Unemployment. Threat to Democracy. Economic Instability. Disregard of National Interest.
Institute of Technology and Science Globalisation Globalisation could involve all these things!