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The Impact Of Globalization On Business Development

Introduction

Thesis Assertion: Globalization has positive impacts on business development of Uzbekistan. These advantageous effects of globalization triggered by spur of foreign competition, increased investment opportunities and exchange of solutions.

Body

Spur of overseas competition

Driving up criteria of quality

Driving down prices

Increased investment opportunities

Increasing of development efficiency

Experienced and skilled managers

Exchange of technologies

Access to the latest technologies

Automated manufacturing

Conclusion

Considering each one of these factors it can be figured globalization has positive effect on business development of Uzbekistan.

The impact of globalization on business development of Uzbekistan

Globalization is the process of increasing the connection, the worldwide movement toward financial, financial, trade, marketing communications integration and interdependence of the world's marketplaces and businesses. Globalization signifies lessening the significance of national obstacles, contributing free copy of capital, goods, and services across countrywide frontiers. This technique has accelerated significantly as technological advances make it easier for folks to speak, travel, and conduct business internationally. Globalization is considered as a leading notion which has become one of the major factors in business life over the last few decades, credited to fast pass on of information and fast trends of technology and transport. This globalization process has positive influences on business development of Uzbekistan. These beneficial impacts of globalization caused by spur of overseas competition, increased investment opportunities and exchange of technologies.

Globalization contributes to increasing competition among businesses on a worldwide basis, as much overseas companies will get into to the neighborhood market. Competition between businesses, retailers and stores conceived of trying to get the customer to buy their product instead of that offered by the rival. This competition can be referred to product and service quality, cost and price. As customers have many selections in the market, they would like to buy goods with higher quality and lower prices. Thus, companies which provide products and services must always fulfill the customer preferences, normally sales of company will lower and they may lose profit.

These contests between companies can lift production and efficiency of local businesses.

Another positive impact of globalization on business development of Uzbekistan is appealing to more foreign traders. Foreign capital purchases are very very important to producing and increase production efficiency of countrywide businesses in Uzbekistan. In many instances, many businessmen from Uzbekistan have both the labor and natural resources to provide production however they need international capital investment in order to get started on their businesses, as the opportunity to getting enough amount of capital from nationwide banks in order to run business is not high. Hence, with the help of outside investors nationwide businesses will grow in a faster temp. For instance, overseas investments added to significant development of businesses in countries such as China, India and Brazil. Additionally, international investors can lead to the development of local businesses by providing experienced employees from foreign countries. It really is obvious that skilled workers are necessary to an organization that is transferring its capital to another country. Thus, if the country's labour is not skilled, traders have to train and educate their workforce. The idea is the fact knowledge and techniques brought in by international experts and managers will spill over to local firms. All this factors of foreign investment will increase the business environment of Uzbekistan.

It is generally presumed that all the innovations happen in the Western world and therefore these innovations enter into developing countries credited to globalization. Globalization has stepped-up the velocity of technological copy and technological advance. Advanced processing technology is surely participating in an important role in the introduction of businesses. New technology allows companies to create new types of products and services for both international and domestic markets. By using this latest technology will increase their sales and product quality. Furthermore, improvement in technology provides businesses to bring automation in processing and service areas. In this particular competitive global market programmed manufacturing is crucial, as facilities that offer automated creation will enable businesses to have success and increase exports in to the quickly growing economies of the world. Local companies will be developed drastically as automation of the developing process reduces waste material, increases quality of the product and it drives costs down.

Considering each one of these factors it can be concluded that globalization has positive effect on business development of Uzbekistan for several reasons. These factors include increasing competition that lowers prices and increase quality of products. The next is increased investment opportunities which lead to faster development of business. Finally, it gives usage of the new technology that can help to businesses to get higher income. The assumption is that globalization is a development which won't be halted and this process will probably continue to widen.

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