Globalization Has Changed The Landscape Of Business Essay
Globalization has occurred over the years mainly due to the widespread acceptance of modern technology, which has changed the landscape of business entirely in the past decade. Unlike in the past when face to face meetings were the norms, nowadays business can be connected via video conferencing (e.g. Skype) and also mobile phones allow us to make and receive calls without necessary being at a particular place unlike during the landline days. Nevertheless some analyst argue that the scale of financial globalization is way too far, This explains why countries have the option of either leaving the exchange rate mechanisms to the market forces to decide or alternatively Governments could involve themselves in setting exchange rate bands for their respective countries, each of the options has its cons and pros, for instance floating exchange rates (i.e. unfixed) is considered suitable by some countries because even in the period of disasters (e.g. recession) the currency remains relatively stable, as was the case during Japanese recession in the 90’s.Incontrast international lenders and banks may refer a regulated exchange market even though fixed rates are elements of the pre-globalized system. Underhand plc. would have a number of choices to make as well as potential challenges based on issues of interest to their prospective host governments. This essay aims to analyze these issues and offer solutions.
Although relations between MNC’s and hos…