Business management> Business & Finance > A Case Study on Globalization and International Trade
A Case Study on Globalization and International Trade
Globalization and international trade are one of the biggest contributors to the GDP of any country. In the context of the Samsung multinational company in South Korea, it can be seen that they were contributors of 17% of the total GDP. Consumers across different countries in the world purchase Samsung product. Therefore, the company is able to increase their revenue and that of their country as a result of its globalization activities. Herein is the advantage, disadvantage and impact of globalization on Samsung...
An advantage of globalization and international trade is that they help
multinational companies to experience faster growth and expand their market
through exploring potential consumers in other countries (Camelia & Surugiu
132). Consequently, they earn more revenue and increase the economic growth of
the country. For example, as a result of globalization, the Samsung group was
able to extend its activities in the market through production of screens,
microwaves etc. and therefore within a period of 20 years experienced a growth
of more than 5700% of revenues (Simonin 1). Therefore, it is able to diversify
and provide their customers with more products apart from smartphones.
Moreover, benefits that the local community and employees will experience are
increased standards of living as a result of higher rates of economic growth
and also more jobs are created (Camelia & Surugiu 136).