Globalization

Pros

Allows companies to expand their business into different countries, allowing employees to work in different locations that are convenient for them

EY have different branches in many different countries, employees their preferred location

allows companies to sell to a wider range of customers.

H&M sells in many different countries and their market is bigger as they are open in many different nations

allowing people to learn more about different cultures and traditions.

Lululemon celebrates Lunar New Year with limited time product

Companies can buy resources from other countries that they may not be able to find on their own.

Gold Mineral of United States

Cons

Smaller businesses will encounter difficulty due to increased global competition. Thanks to globalization, more companies can sell in more locations.

American car brands like Jeep, Chevrolet, and Ford face foreign competition like Toyota, Mercedes-Benz, and Honda

situations in other countries may impact the price of goods and services, leading to price instability

The oil price increase due to the Russia-Ukraine war

Labour exploitation may occur; some forms of labour are not protected by international law which causes unequal treatment and unethical labour

Nike employees in Asia have been reported to have low wages, long working hours

Transporting goods causes an environmental impact and pollutes our planet.

Example:global transport causes 7 billion metric tons of co2 emissions