Globalisation — Chapter Summary
ICSE · Class 12 · Business Studies
Summary of Globalisation for ICSE Class 12 Business Studies. Part of the ICSE Class 12 Business Studies syllabus.
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Overview
Globalisation means integrating the economy of a country with the world economy. It creates an increasingly free flow of goods, services, capital, technology, information and people across national boundaries. It also means treating the entire world as one market. Globalisation has changed business
Key Concepts
Globalisation is the process of integrating
Globalisation is the process of integrating a country's economy with the world economy. It involves cross-border movement of goods, services, capital,
Internationalisation refers to business with one
Internationalisation refers to business with one or more foreign countries. Globalisation is broader and means adopting a global outlook in manufactur
Globalisation shows features such as liberalisation
Globalisation shows features such as liberalisation of trade, free trade agreements, economic reforms, privatisation, global supply chains, market acc
Globalisation creates opportunities such as improved
Globalisation creates opportunities such as improved efficiency due to international competition, better allocative efficiency for developing countrie
Globalisation also creates pressure for structural
Globalisation also creates pressure for structural adjustment, redistribution of economic and political power, challenges to familiar assumptions abou
Learning Objectives
- Understand the meaning of globalisation and its difference from internationalisation
- Identify the main features or nature of globalisation
- Explain the opportunities created by globalisation for business and developing countries
- Recognise the threats and challenges caused by globalisation
- Describe how globalisation has transformed business through markets, production, foreign investment and competition
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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