Because of the rise in inflow of FDI in developing countries, GDP per capita increases which further aid in the economic growth of these underdeveloped nations. This can happen because international co-operation permits the inflow of FDI into countries which promote economic development. Secondly, FDI also facilitates the transfer of technology and business for economic development of nations. A study by Gigov (2016, p. 348) indicates that FDI plays a vital role in advancing the knowledge and technology, and the transfer of technology and business through FDI makes the countries closer that have a direct positive impact on the economic growth of
Eneew.C, (2014 .p-1). As an example, Deakin University annual report (2012.P-3-5) shows ... ... middle of paper ... ...om increase overseas trading. A new communication system established were fast and reliable like internet and satellite communication and international banking system all as a direct answer to cope with globalization phenomena. To sum up, it is clear that globalization has more advantages in developing countries. This is because it has a positive impact on the education system, increase the chances to improve the economy and it expands the essential infrastructures of developing countries.
Economic growth is one of the most important fields in economics. In current generation economic is developing well. Economic growth is really important to country and for the world as well. Economic are one of the identity for country because it shows a country development and attraction for other countries (F, Peter. 2014).
The worldwide spread of technology has fostered unprecedented advances in the quality life that have resulted in the enhancement of labor productivity and an increase in the production capacity of soveriegn states. This increase in a country’s production capacity will directly result in an immediate increase in GDP levels; thus, the country will exhibit economic growth. (Kenny, CH 7). Labor specialization emerges from the assumption that each country possesses a comparative advantage for the production, manufacturing, or supply of certain goods and se... ... middle of paper ... ...rnment, and investment in technology innovation are three strategies could be used in order to improve economic growth in countries that are lagging behind. Panama’s exceptionally economic performance have shown that a careful implementation of these three strategies will potentially increase the export of goods and services, the level of foreign direct investment, literacy rates, and decrease poverty headcount ratios.
There are countries where educational institutions have improved very much, and the presence of the students who are being sent abroad could boost the quality of education that these institutions provide. The level of impact this does to the economy is analyzed, and possible measures are decided. There are increasing educational institutions all over the world. This is a measurement that has been taken by governments as they aim at maintaining the economic growth of the country through all possible means. However, when the same government decides to use funds in funding the exceptional students in education into international studies, the efforts of maintaining and improving the economic growth are obstructive (Sabot, 1999).
It is inevitable to say that New Technology is the vital source of labour productivity which increases economic growth. Not only it generates more efficiency and improves standard of living; it also brings in more investment. According to Infocomm Development Authority of Singapore (IDA), iSPRINT has been introduced since March 2010 to support SMEs the use of technology to boost its’ productivity and growth. During a budget speech in 2014, there was a S$500 million ICT for Productivity and Growth (IPG) programme which shows a significant boost to Singapore’s effort in emphasizing on solutions to turn SME sectors and use of high-speed connectivity for new growth of business. One of the solutions that were part of the programme was Piloting of New or Emerging Solution.
TASK 2 (P2.1, P2.2, P2.3) (P2.1) Ecolab’s economic progress is to drive economic growth for their shareholders, employees, customers and communities. This will provide the potential output of the company and the growth and development will give more opportunities to the company to produce more vital resources to contribute to the world and meet the demands and satisfaction of the people. During the year 2011, Ecolab drove their business sales and earnings growth and attracted returns for shareholders. They expanded their relationships globally, provided exceptional customer service and earned new business. Their growth was developed by their delivered new product pipeline; it improved the performance, environmental benefits and cost savings.
At the national level, globalization plays a very important role for both the developing and the developed nations. The developing nations can imbibe new technology in the production of goods from the developed countries. The developed countries can make use of cheap labor and also available resources in the developing countries. The developed countries can establish multinational corporations in other countries which gives employment opportunities to the members of those countries. This paper aims to study the meaning of globalization and much importance is given to it in the recent times.
This is a globalized environment where each country depends on others in several conditions especially in the business world. To enable a world-wide economic condition, a country should open up every chances of bilateral or multilateral relationship with different countries. United Kingdom or Britain in this case; is one of several fastest economic growth countries in this world. As a country with the high reputation in economic growth, Britain governments together with the citizens have done numerous strategies to boost the economy and even survive during the recession. It’s already known that the key to a strong economy condition is the high rate of healthy national business condition within a country.
Technology has had positive effects all over across the globe to business organization and to individuals. Organizations and individuals have to strategically position themselves in order to take advantage of the growing technology and achieve business competitive advantage while at it (DeHaven 2010 pg 1). Technology has enabled globalization; where ideas, products and services have been shared. This has promoted foreign businesses thus helping different economies all across the globe. Different organizations and individuals have realized that technology will keep growing and changing and the best strategy will be to adapt it other than holding to rigid ways of doin...