The present world scenario by end of 2017 reflects the need of globalisation of
ID: 373109 • Letter: T
Question
The present world scenario by end of 2017 reflects the need of globalisation of each product. A world is a village in itself today as te means of communications was never ever so fast and interconnected as before. A small manufacturer in India can easily connect with a retailer in US with the help of basic connections of internet and wit little knowledge of world market.
The largest retailer in the world WalMart has 3,000 stores in the U.S. chains in Britain, Korea, Brazil, Germany, China, Mexico and Argentina. It opens a megastore every two days. It is the U.S.'s largest private employer, with 925,000 people on the payroll, and the second largest employer in general after the Federal government. The company also boasts the largest computer, surpassing the Pentagon's, and the world's largest fleet of trucks.
Wal-Mart stores opens up every 38 hours. This nature of growth would not have been possible without the forces of globalization firmly helping out the retail giant at every step. Economic liberalization, advances in transportation, technology, supply chain and logistics also played an important role. The success of The Wal-Mart Empire has been due to globalization
Globalization means the transformation towards a borderless world, where national and regional boundaries seem to have been removed, and the world has become a global village. This has been facilitated by the advancements in information and communication technology. This allows a greater movement of goods, people, capital and other resources across national borders with extreme ease, as never experienced before. The nations are engaging in economic and political integrations, like the E.U whereby all barriers to trade and investment have been reduced between the member countries.
Wal-Mart is a source of globalization not only in America, but also in all the countries in which it has operations. The spheres of influence of Wal-Mart are economic (affecting local, regional and national economies), societal (structuring of the workforce and impact on consumer spending and purchase behavior) and political (impacting local and community level processes). Wal-Mart, itself also has to operate in the same environment it has created for itself which in turn reinforces globalization.
Explanation / Answer
How did the coming of Wal-Mart relate to globalization for smaller towns such as Ashland? How did the coming of Wal-Mart relate to globalization for smaller towns such as Ashland?Related Questions
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