Although International trade and investment agreements between countries comes with its benefits, this also results in profit seeking multinational firms within a specific country being able to hide unethical behaviour and cut corners that save money on production of specific products. This tends to result in poor working conditions and in some cases environmental hazards, and if activists or the government insist on better conditions the multinational firm can threaten relocation.
An example of this can be found from Nike sweatshops that violated human rights as workers were forced to work in unsafe environments with very low pay.
Increased Competition Between Businesses
Positive
Able to access to new culture
Lower Costs for Products
The Spread of Technology and Innovation
Access to new markets
Globalisation benefits businesses with amazing value by bringing new customers and providing multiple sources of income. Most business look to use the advantages that come from the benefits for a adaptable and innovative techniques to expand internationally.
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Talents
Opening up the business to the new markets, globalisation also gives businesses opportunity to use specialised knowledge that isn't used in their markets. An a example of that would be when a business is looking for a IT user they could look outside of their cities for people to work from home
When knowledge and technical improvements spread rapidly due to multiple countries remain connected. An example of this would mean if a product using technological developments in china would contribute in Canada within a few days bc of information spreading.
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Free trade seems to have the biggest impact on local business as now they must be prepared to compete with multinational corporations which may result in more opportunity or a downward spiral if the business cannot price and provide their products to customers better than all of the new competitor's within that market. This may also condition customers into expecting higher quality items at lower price points resulting in new and smaller companies not being able to stay in business due to poor flexibility.
Globalization can contribute to building wage inequality in a rich country between high-skilled and low-skilled workers. This is because low-skilled labour provided by developing countries loses demand or is taken advantage of by other countries in comparison to high-tech firms that provide high-skilled labor, this gives high skilled workers more opportunities through globalization creating lower wages and job opportunities for low-skilled workers in tradable sectors.
When globalisation businesses happens their products happen to be much cheaper. Furthermore, it improves international competition, which lowers costs and gives customers a better options. People in countries that are developing and developed may live better on less because of lower prices.
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Food, entertainment, music and visual arts, are cultures made by globalization. An app like uber eats allows you to order food like Indian food.They deliver food to your house in Canada while being able t owatch any show you want and this all combines to unrestricted movement of people's idea , goods, and information
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With Globalization providing many agricultural benefits through high yields and increased market demands with an addition of lower costs it is mentioned that environmental issues are ignored leading to increased deforestation and destruction of animal habitats which consequently leads to release of greenhouse gas emissions causing global warming.
