{"id":17856,"date":"2017-12-08T12:04:39","date_gmt":"2017-12-08T12:04:39","guid":{"rendered":"https:\/\/www.potential.com\/?p=17856"},"modified":"2018-02-28T08:17:22","modified_gmt":"2018-02-28T08:17:22","slug":"globalization-affected-overall-business-world","status":"publish","type":"post","link":"https:\/\/www.potential.com\/articles\/globalization-affected-overall-business-world\/","title":{"rendered":"Globalization Effect on the Overall Business World"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" itemprop=\"image\" class=\"aligncenter size-full wp-image-17857\" src=\"https:\/\/www.potential.com\/wp-content\/uploads\/2017\/12\/rsz_bigstock-online-banking-and-internet-ba-195600661.png\" alt=\"Globalization\" width=\"720\" height=\"405\" srcset=\"https:\/\/www.potential.com\/wp-content\/uploads\/2017\/12\/rsz_bigstock-online-banking-and-internet-ba-195600661.png 720w, https:\/\/www.potential.com\/wp-content\/uploads\/2017\/12\/rsz_bigstock-online-banking-and-internet-ba-195600661-300x169.png 300w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Almost everything is just one click away; only if food could be downloaded from the Internet as well!!<br \/>\nGlobalization has rocked the world in the 21st century and changed the dynamics of the business to an extent where some people have lost their\u00a0lives\u00a0while others have found new ways to earn huge profits.<\/p>\n<h2><strong>How has globalization affected business?<\/strong><\/h2>\n<ul style=\"padding-left: 20px; font-size: 15px;\">\n<li>\n<h3>Competiton<\/h3>\n<p>Domestic industries of some countries faced a terrible slump in their demand when they had to face competition from foreign firms. Multinational firms started operating from different countries simultaneously and increased the competition for local producers; wiping out small organizations while giving a very tough time to those who managed to survive their onslaught. Consumers benefitted from the price wars and had more variety to choose from at the same time.<\/li>\n<li>\n<h3>Technological Advancement<\/h3>\n<p>Internet-based\u00a0organizations usually known as e-commerce businesses also erupted at the stage. They allowed the consumers to choose their product at the comfort of their homes and get it\u00a0delivered to\u00a0their doorstep. It introduced the concept of \u2018home delivery\u2019 and expanded the courier\u00a0businesses on\u00a0a vast scale.<\/li>\n<li>\n<h3>Consumers\u2019\u00a0Knowledgebase<\/h3>\n<p>Consumers became knowledgeable about different brands and alternatives. The bargaining power of customers increased with the enhancement of their knowledge base which put them in the driving seat to increase their value for money.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>With the availability of all information on the Internet, people came to know about the entire processes of the organizations, their image in the market and their overall operation style.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Almost everything is just one click away; only if food could be downloaded from the Internet as well!! Globalization has rocked the world in the 21st century and changed the dynamics of the business to an extent where some people have lost their\u00a0lives\u00a0while others have found new ways to earn huge profits. How has [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":17857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,13],"tags":[91],"class_list":["post-17856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-expansion","tag-globalization"],"_links":{"self":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts\/17856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/comments?post=17856"}],"version-history":[{"count":7,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts\/17856\/revisions"}],"predecessor-version":[{"id":18682,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/posts\/17856\/revisions\/18682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/media\/17857"}],"wp:attachment":[{"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/media?parent=17856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/categories?post=17856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.potential.com\/wp-json\/wp\/v2\/tags?post=17856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}