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Chart Increasing

Unit 1 - Introduction To Business Management - QB

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Briefcase

Unit 2 - Human Resource Management - QB

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Money Bag

Unit 3 - Finance & accounts - QB

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Direct Hit

Unit 4 - Marketing - QB

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Factory

Unit 5 - Operations management - QB

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Bar-Chart

Unit 6 - Assessment

Fun Fact: Did you know that centuries ago, the Silk Road was a kind of early &#39;Amazon Prime&#39; for the world, but with camels instead of delivery trucks? Yep, globalization isn&rsquo;t a fresh-out-of-the-oven concept!

<ul>
	<li>Definition: Globalization is like the world throwing a massive party where economies from different regions come together to dance! It&#39;s all about regional economies merging into a massive, single global unit.</li>
	<li>Old-school Globalization: Think Roman Empire, Silk Road, British Empire. There was some global &#39;mingling&#39; but not like today.</li>
	<li>Post-WW2 Globalization: Postcards from the past can&rsquo;t match our Insta stories! After WW2, globalization is more intense, larger, faster, and way more valuable.</li>
</ul>

Who are they?: Imagine businesses with no real &#39;home&#39;. They&#39;re the &#39;Nomads&#39; of the business world!

<ul>
	<li>Legally: They have an address (like how Batman has Wayne Manor).</li>
	<li>Reality: They&rsquo;re everywhere (like how Batman&#39;s everywhere in Gotham). They operate wherever there&#39;s profit.</li>
	<li>Loyalty: To profits and the company itself, not to any country (Sorry, nations! 💔).</li>
</ul>

<ul>
	<li>
	Increased Competition: Imagine your local burger joint competing with McDonald&#39;s.

	<ul>
		<li>Upside: Makes local businesses up their game. Result? Better goods at lower prices for us!</li>
		<li>Downside: To keep costs low, sometimes wages don&#39;t rise much, but workers have to do more.</li>
	</ul>
	</li>
	<li>
	Brand Power!: Think of local cola vs. Coca-Cola.

	<ul>
		<li>Challenge: Locals battling it out with global giants.</li>
		<li>Strategy: Emphasizing their uniqueness, like &ldquo;Handmade in our backyard!&rdquo; (USP Alert!)</li>
	</ul>
	</li>
	<li>
	Skill Exchange Program: When a big company sets shop locally, there&#39;s an epic knowledge exchange.

	<ul>
		<li>Example: Starbucks might learn how to make the perfect masala chai in India, and Indian employees might master the art of brewing the perfect espresso.</li>
	</ul>
	</li>
	<li>
	Together is Better: Local businesses can join forces with big players.

	<ul>
		<li>How?: Through collaborations like joint ventures, franchises, or alliances.</li>
		<li>Real-world example: Spotify, a global music giant, joined hands with Samsung, the tech mammoth. Music + Tech = 💥</li>
	</ul>
	</li>
</ul>

📚 In a Nutshell: Globalization is like the internet &ndash; connecting different corners of the world like never before. It comes with its own set of challenges and perks. So, the next time you&rsquo;re enjoying a McSpicy burger in India or sipping a Starbucks tea latte in the US, remember, it&#39;s globalization in action!

&nbsp;

And always, always look for that unique local touch in a globalized world. 🌍🤝🌎

Understanding Globalization: Its Impact On Modern Business

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Standard Level

Business Management SL

Unit 1 - Introduction To Business Management - QB

Understanding Globalization: Its Impact On Modern Business

Table of content

What's globalization? 🚀

Unlock the Full Content!

Unit 1 - Introduction To Business Management - QB

Understanding Globalization: Its Impact On Modern Business

Table of content

What's globalization? 🚀

Unlock the Full Content!