IMPACT OF GLOBALISATION ON DOMESTIC BUSINESS ENVIRONMENT OF U.K

The Impact Of Globalization On Domestic Business Environment Of U.K

Abstract

The whole discussion describes the new direction predicting future is already taken shape and has its own peculiarities. Relating towards drift of globalization impact towards economy of united kingdom. This topic is all about article which is mentioned below regarding an extremely controversial issue, globalization has been center if much debate and has raised many questions.

Introduction

Globalization gives wide range to each nation to access each other's markets as well as to capital flow, technology, imports, exports, politics, and culture. While, as some states continually reap benefits and prosper others are lessening short. Some have viewed its procedure as beneficial, while many others argue that it produces unfavorable results and consequences. While, before issues and concerns of globalization, it is necessary to determine or rather define globalization and all which is involved. In broader scope, globalization promotes effectiveness by utilizing each market and nation's specialization; nonetheless, allowing individual and economies to focus on what they do best (Robertson 2002 pp 852).

Theoretical background

According to research of Robertson risk factor is always involved regarding any global issue. Globalization led to the vast economical growth but it is obvious that prosperity is not equal. Globalization is missing processes in which to improve deal and aid to poorest state which would help with integration of all countries-rich and poor. Not only globalization is creating the vast gap among develop and under developing countries but creating the greater space among countries . (Maitra 2006: 456)Countries that could not cope with globalization factor created minimum standards for them and making them engage in different activities: drug trafficking, smuggling, and exaction. These cross border problems resulted in vulnerability and societal disruption all over states. And although it has created openness to other cultures and promoted flow of ideas, many states have fallen to dilution of their cultures, values, and ideas (Robertson 2002 pp 852).

Globalization is transforming face of global economy and has the vast impact on U.K economy. But what exactly does globalization involve? In this discussion we define what globalization is, noting, first, that is not the new occurrence, with influence of globalization dating at 1900s and, then, that it is about much more than site of productivity is low salary economy. It is altering world's financial countryside and our living standards. This gives an idea as how globalization have given wide range to U.K economy for its ever increasing markets for both production and investment. Low-wage competition is motivating many countries especially U.K to turn over its investment in more innovative and skilled related field in order to further boost it self through qualitative goods specialized, and services. Continuous change globalization brings can create anxiety and uncertainty. (Cornia 2003: 581)Science has become starting point and the source of technological progression - A technology based on scientific knowledge, became base production. properties. -In order to be productive United Kingdom has to keep up high and cost benefit development ...