Globalization encourages businesses to expand and adapt to different mechanisms based on new technological trends that help to preserve the rights and interests of both the individual and the whole community at a bigger level. These dynamics enables businesses to compete at international levels and also indicates a mind-boggling change for entrepreneurs, labour and management by rightfully accepting the participation of workers and government in developing and improving company policies and strategies. Through diversification, risks can be reduced by the way of accomplishing through company involvement with international financial institutions and making relations with both local and multinational businesses.
IMPACT OF GLOBALIZED ECONOMY:
FDI (foreign direct investment) has shown a positive growth effect in wealthy countries and an increase in trade, resulting in higher economic growth in developing countries as well. Empirical researches that analyze the effects of several impacts of globalization on growth have come to the conclusion that if a country tends to have a lower degree of globalization if it is generating higher revenues from trade taxes. Additionally, the research also indicates that there is a positive growth-effect in countries that are sufficiently rich, as are most of the developed nations. The overall impact of globalization is analyzed as a positive impact on different countries either they are developed or developing.