How globalisation affects the operations of MNC enterprises?
Globalisation is the competition in an international market. The growth rate of developing nations and their acquisitions of previously first-world owned corporations indicates that the developed world no longer has the upper hand- economic growth in the west has been miniscule in comparison. Success in this new global market requires the ability to accommodate the different needs of diverse consumer groups. Companies can achieve this through product and process innovations and maximise profits. Entrepreneurship is also increasingly recognised and as an alternative course to fortune as opposed to trading rare commodities. Companies from emergent economies are following the lead of their developed counterparts, issuing stocks and encouraging investment. This encouraged growth and share appreciation, surpassing past expectations. Some emerging companies' growth has even outpaced well-known multi-national companies (MNCs) from the developed world-competing, acquiring and exploiting the endeavours and experiences of first-world MNCs. Similarly, developed nations are tapping into emerging economies, for their market, stock markets and possible mutually beneficial co-operation opportunities.