Presentation.pptx

BENEFITS OF GLOBALIZATION FACED BY BUSINESS ENVIRONMENT 6 BENEFITS OF GLOBALIZATI ON 1. ACCESS TO NEW CULTURES Globalization makes it easier than ever to access foreign culture, including food, movies, music, and art. This free flow of people, goods, art, and information is the reason you ca...

BENEFITS OF GLOBALIZATION FACED BY BUSINESS ENVIRONMENT 6 BENEFITS OF GLOBALIZATI ON 1. ACCESS TO NEW CULTURES Globalization makes it easier than ever to access foreign culture, including food, movies, music, and art. This free flow of people, goods, art, and information is the reason you can have Thai food delivered to your apartment as you listen to your favorite UK-based artist or stream a Bollywood movie or even the K-Pop styles. 2. THE SPREAD OF TECHNOLOGY AND INNOVATION Many countries around the world remain constantly connected, so the knowledge and technological advances travel quickly. Because knowledge also transfers so fast, this means that scientific advances made in Asia can be at work in the United States in a matter of days. 3. LOWER COSTS FOR PRODUCT Globalization allows companies to find lower- cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less money. 4. HIGHER STANDARD OF LIVING ACROSS THE GLOBE Developing nations experience an improved standard of living-thanks to globalization. According to the World Bank, extreme poverty decreased by 35% since 1990. Further, the target of the first Millennium Development Goal was to cut the 1990 poverty rate in half by 2015. This was achieved five years ahead of schedule, in 2010. Across the globe, nearly 1.1 billion people have moved out of extreme 5.ACCESS TO NEW MARKETS Businesses gain a great deal from globalization, including new customers and diverse revenue streams. Companies interested in these benefits look for flexible and innovative ways to grow their business overseas. International Professional Employer Organizations (PEOs) make it easier than ever to employ workers in other countries quickly and compliantly. This means that, for many 6. ACCESS TO NEW TALENT In addition to new markets, globalization allows companies to find new, specialized talent that is not available in their current market. For example, globalization allows companies to explore tech talent in booming markets such as Berlin or Stockholm, rather than Silicon Valley. Again, International PEO allows companies to compliantly employ workers overseas, without having to establish THANK YOU TO LISTEN TO MY REPRESENTA TION