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The current assignment is about article critique. In order to complete this assignment, selection of two academic articles is necessary on a business topic. There are a number of business topic for which number of academic journals are published every year. However, among many business topics, globalisation has been one of the most important and burning topics that seems to have wider impact on business and economic development. Therefore, two articles are selected based on the impact of globalisation in business and proceeded with the research.
Technology has created a new space for humankind to explore further regarding their daily activities, including running their businesses. As the article has presented today’s cyber world, the business organisations are hankering after using more technological advancements to lure their consumers. Therefore, the author has presented the view that technology has secluded human beings from one another and has created a disconnected world. This paper therefore intends to present a critical viewpoint on the opinion presented in the chosen article.
Trade used to have a localised form where, the traders dealt with the local customers. However, with the advent of new technological wonders, the organisations have started to look beyond the local market in order to boost their profit margins. However, Dunning (2014) has presented a contrasting view of the term of globalization by stating that globalization has actually benefitted the world through its multifaceted positive factors. As an example, in today’s global market, physical boundaries have made way for global firms, which can deliver their products even to the remotest corner of the world. This has become possible only because, the world has transformed itself into a giant market. The chosen journal, although listing the positive effects that globalization has brought for the business world, has stated that the sustainability of the business world has come before a serious question. The ever-increasing market competition has destabilized the business houses gravely.
The article has also made the point of destabilising the cultural norms and features of various communities as; globalization has helped to mingle different cultures among themselves in a negative way. Some of the cultures have been openhearted in accepting these changes, while have been sceptical. Overall, the author has propagated the view that the balance found earlier in the business world has gone wayward and the business communities are presently getting exhausted from the competition posed by rival firms from far off places. However, the article does not concentrate only on the negative sides of globalization and in fact, points out the positive sides as well. The author reiterated the point of view of Agwu (2014) by stating that the colonial culture has everything to do with the breaking up of geographical barriers. Businesspersons from one country got to travel to other countries and expand their business network in this way. However, Agwu et al. (2014) have presented a different view than this by stating that before colonialization, Arab traders used to traverse the world on foot and sea. Therefore, globalization did not initiate global business forms and just forwarded already established norms further.
The article has been a great revelation for the readers as, well articulated viewpoint on both the positive and negative aspects of globalization has been presented with great care. The initiation period of globalization and the consequent spread of the phenomenon also have been quite knowledge friendly. The history of pre-globalisation period reveals that the global powerhouses of that time used to transport their produce to other countries by using both sea route and land route. The existence of Silk Route stands as the vindication of this statement. However, the rise of colonialization has made the process faster as, the powerful countries no longer had to wait for the supply and demand factors (Ueda, 2012). As an example, cheap garments used to flood the streets of the colonies without pressing for the fact whether, they actually needed those or not. Therefore, colonialization already brought the negative sides that globalisation would multiply in the later years. The article has thus contributed greatly to the learning process of the readers and has been quite essential in evaluating the true face of globalisation.
However, Akor et al.(2012) have presented a slightly different point of view by stating that globalisation may have evil roots but it is not very ominous in nature. Smaller companies now get to sell their products in far off places where they would never have been able to do so if, globalisation did not write off the physical barriers. On that note, Alimi and Atanda (2011) have also presented a somewhat similar point of view by stating that exchange norms across the boarders may be different in different countries, the global power houses have come together to eliminate most of the negative sides of localised market. If, globalisation has done something good that would be the enlargement of local markets so that different prominent players can take participation in the business affairs. The scope of competition also has a boost as, more number of players in the market means that the unethical business entities would not be able to run their scrupulous activities anymore (Atuma and Agwu, 2015). Therefore, the article has been a great source of valuable information regarding globalization and has taken much effort to present the facts in the mot holistic way possible.
The research has taken the path of positivism to present the facts in the most scientific way possible. Positivism enables the researchers to present a paper by evaluating the facts through various established facts and theories. Therefore, the chances of presenting wrong and unnecessary information die down radically. As the paper is based on secondary analysis, having foolproof literary sources is mandatory. On the other hand, the research approach is deductive in nature. The researcher did not use inductive process as, which would have to be supported through creating new theories and models in the first place. Only after formulation of new theory or model, the researcher could have progressed with the work. Therefore, the approach has been deductive as, the researcher used already established facts and evaluated those facts from different points of view of experienced scholars.
On the other hand, the design has been descriptive as, different dimension of the research topic could be presented. If the researcher took exploratory or explanatory approach, the freedom would not have been there to use different opinions of the scholars. The research method is primarily based on secondary literary sources and the researcher has weighed different scholars’ opinions before putting the paper before the readers. The obtained data has been evaluated by putting across before the readers to judge whether, they are relevant or not.
After going through the article, it has been observed that the author has been predominantly obsessed with the negative characters of globalization. Throughout the research paper, the negative characteristics of globalization have found more prominence. On that other hand, the goals of the globalization have found less importance in the paper. Therefore, ultimately, the article has become a naysayer regarding globalization. The author has shown globalisation as re-colonization by invoking the negative factors of colonial period. However, the article did not mention that in today’s competitive world, various world bides are there to regulate the global business scenario and no single organisation has the power to play the role of omnipotent player. Market monopoly has become an irrelevant matter as; the number of prominent players has risen steadily to nullify this effect. However, the paper did not disclose any of these balancing factors elaborately. Therefore, the readers could get only one side of the global phenomenon, globalization.
The article has thus left a big space for the future researchers to debate on the positive and negative aspects of globalisation by using this article as a fine reference point. In addition, the article could not research more on the factors that could bring demise to the business world and the future scholars therefore have the chance to look at this factor deeply in their future endeavour.
The article has thus presented both the positive and negative aspects of globalization and this paper has presented a critical standpoint on the approach taken by the researcher to understand whether, the literary piece could stand the test of time to be great reference for the same topic.
This article tries to find out the true meaning of globalisation, especially the ways by which it is influencing global economy in terms of FDI and economic development all around the globe. The main finding of this article is that it tends to identify both the positive and negative impact that globalisation is bringing to the modern world, mainly in business strategy. The study in the article has concluded that due to the diffusion of technology in the globalised world in an open economic environment has resulted in differences in product strategy. However, Muhammad et al. (2011) has stated that technological advance in the globalised world has made it possible to create excellent communication across the borders which has helped in developing new product strategy. On the other hand, the current article has found out that there are even few places where technological advancement has not been able to reach and therefore, not every nation or every company uses standardised product strategy.
Apart from that, it is found out that rapid spread of globalisation has increased local competition has Chinese firms have to export their products with a low priced strategy. Whereas it is increasing competition, it is also decreasing profitability of few established firms in an established market. The study has revealed that consumer needs has also changed in the modern globalised market. Development of new product strategies are required to be introduced so that changing consumer needs can be meet. Thus, it can be said that this article regarding globalisation has been able to identify some of the most important facts of globalisation in the modern business environment.
This article has significant contribution to knowledge regarding globalisation. This article has provided knowledge regarding the global business strategy, especially the theatrical frameworks associated with global business strategy. The article has taken both the industrial organisation based theory and resource based theory regarding global business strategy. From both the theoretical frameworks, it is identified that different views are there in the global business environment regarding business strategy where one considers resources as main element of competitive advantage whereas another focuses on the surrounding environment.
The discussion and analysis conducted in the article has made it clear that technological advancement has been the main driver of globalisation around the globe as it has improved both communication and transportation. However, Varghese (2011) found out that other factors like increased migration rate and cultural changes are major reasons that are affecting business decisions in a globalised world which is missing in this article. However, this article has contributed to the knowledge regarding the ways small businesses in the developed world are now operating and taking decisions. Further, it has contributed in the learning of current global business environment where the diffusion of globalisation is affecting not only business decisions, but also global economy.
The article has used secondary data, especially the available literature on globalisation and its impact on business organisations. The research has used case studies as preferred research method to collect the required data for the research. According to Taylor et al. (2015), rather than primary data, real life case studies are more reliable and valid to conduct research on a research topic. The current article has used 4 case studies that are empirical in nature and thereby tries to identify both the positive and negative impact of globalisation in both the cases. The research has taken other secondary data sources as well to analyse the current research topic in particular. The sources include books, journals as well as internet sources so that the intended research objectives can be meet. Smith (2015) remarked that in a secondary research, selection of the sample is one of the most important factors as validity, reliability and achievement of research objectives depends on proper selection of sample. In this context, the use of inclusion and exclusion sampling is required to be taken. However, it is seen that the current article has chosen purposive sampling to select the most suitable case studies.
Like all researches, this research is also not free of limitations. First, this article has only focused on the impact of globalisation in business strategies. It has not addressed the societal changes and cultural changes that globalisation brought which has indirect influence on consumer choice and preferences. It has though addressed that consumer behaviour has changed along with time as globalisation intensified. However, the ways consumer behaviour pattern in the globalisation has changed has not been addressed. Further, this article has mainly dealt with globalisation in the digital world. It has tried to show that due to changes in technology, globalisation has intensified. Whereas it is quite true that due to improved technology globalisation has intensified, it cannot be denied that cultural shift has brought such changes in consumer behaviour, which is not addressed in this article.
Further, there is methodological limitation as well. The research paper has used case study as preferred method for collecting the required data for the research. Further, only 4 case studies with purposive sampling is chosen for the completion of the research. It is a matter of fact that only four case studies cannot confirm the actual impact of globalisation in global business strategy. It is also notable that the definition of globalisation is constantly changing and therefore, defining or analysing globalisation from 4 cases among millions of cases around the globe is not possible, especially with a purposive sampling which takes samples convenient to a research topic. However, this article is not at all empty. The study has identified significant findings and thereby opened path for future research.
The research is conducted on developed countries and the ways globalisation has made organisations of developed countries to change their business decisions. In this context, taking ideas from the current research, future research can be conducted on the impact of globalisation on developing or under developing African and Sub African countries. It might be able to full proof the loopholes present in the current article. Further, the current article as, published in an international journal is itself a secondary source for the researchers that want to conduct research on the same topic. The findings are useful enough to approach to a new conclusion or to identify a new impact of globalisation on developing and developed countries.
The current assignment has criticised two articles on globalisation and its implication in the modern business scenario. From the critique of the two articles, it is found out that both articles have different findings and different methodologies though have justified the use of methodological tools. Thus, it can be said that selection of methodological tools, proper collection of data and review of literature is required for a research study to accomplish its core objective at the beginning of a research.
Agwu, M. E., (2014),“Strategic impact of inward Foreign Direct Investments on the labour markets of developing economies”. Journal of Management, Marketing and Logistics, 1(4). pp 297-310
Agwu, M. Edwin; Carter, A.L. and Murray, P.J. (2014),“Downsizing as a strategic tool for effective organizational management”, International Journal of Research in Management, Science & Technology, 2(1),pp.1-9.
Akor, A. A., Yongu, V. M. and Akorga, M. T. (2012),“Effects of Globalization on the Nigeria Economy”. Journal of Management and Corporate Governance, 4(7), pp.23-65
Alimi, O. Y. and Atanda, A. A. (2011). “Globalization, Business Cycle and Economic Growth in Nigeria”. African Journal of Scientific Research, 7(1), pp.23-251
Atuma, O. and Agwu, M. E., (2015), “Self awareness and organizational performance in the Nigerian banking sector. European”, Journal of Research and Reflection in Management Sciences, 3 (1), 53-70.
Dunning, J.H., (2014). The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Abingdon: Routledge.
Muhammad, A.C., Faheem, M.A., Dost, M.K.B. and Abdullah, I., 2011. Globalization and its impacts on the world economic development.International Journal of Business and Social Science, 2(23)
Smith, J.A. ed., 2015. Qualitative psychology: A practical guide to research methods. Sage
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons
Ueda, K., (2012). “Banking globalization and international business cycles: Cross-border chained credit contracts and financial accelerators”. Journal of international Economics, 86(1), pp.1-16.
Varghese, N. (2011). Globalization and cross-border Education: Challenges for the development of higher education in Commonwealth countries. Kuala Lumpur: International Institute for Educational Planning (IIEP).