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Impact of Globalization on Small Businesses – A well-known Anecdote

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Impact of Globalization on Small Businesses – A well-known Anecdote

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  1. Globalisation is often billed as key to global growth and development, but there are those who feel disappointed by it. Dramatic changes in contemporary society and the economy have impacts on small businesses. The changing environment negatively influences the development and survival of smaller organisations.

  2. Impact of Globalization on Small Businesses – A well-known Anecdote

  3. In “The Communist Manifesto”, Karl Marx famously warned that small local businesses will inevitably be wiped out by large multinational companies in a form of imperialist capitalism. According to him, the destruction of local businesses leads to the loss of local culture, and the rise of a singular anonymous corporate culture which only varies slightly from country to country.

  4. Globalized Brands A trip to a Chinese department store is virtually identical to one in America, with the same multinational brands – Armani, Coach, Chanel, Gucci – lining the halls like an anonymous duty-free airport shop.

  5. Exchange Rates and Outsourcing

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