It also plays an important role in modern business and leads to the urbanization. Globalization, Industrialization, Modernization, and Urbanization are the basic elements or pillars of all business life and the whole economy.
Nowadays, different companies with the same value function or structure merges with each other to become stronger in terms of capital or financial presence, expand wide market and gain high trust from the clients or customers due to overall transparency.
Whereas, in production globalization the raw materials and resources used for producing goods are imported from various countries. They play the key role in the economic development and have overall positive impacts or effects in the modern business and management.
Also, they are interrelated with each other for creating an economic surplus or profit; and the better management concepts where the various activities or tasks of a business are smoothly coordinated to attain defined goals and objectives. Effects of Industrialization in Modern Business: Modernization means the process of transformation from a tradition to a modern model.
As a result, new businesses can take advantage of it by creating new markets via networking. The industrialization is the basic element of any economy. As a result, there is a heavy cash flow and economic exchange. It raises the living standard by producing new and innovated materials and goods for human being.
With the use of cloud computing, outsourcing and off shoring, it is possible to expand the market within or beyond the border. They play an important role in modern business and management.
It helps the business values and functions. As a result, customers have better options to choose which goods or services fits best requirement for them.
There is a more opportunity to earn in the city area which leads to a better living standard of people. The modernization of business also means the proper strategy to allocate the budget and properly use of Customer Relationship Management System, Enterprise Resource Planning, and other Information System whether it is functional or cross functional management information system.
The farmers can also sell the raw materials to the industries and earn money. There are mainly two types of globalization.
The urbanization is mainly possible after the industrialization because people stay near industrial area.
In globalization of business, the maximum turnovers, transactions and capital flow occurs due to operating the business in multi countries with the expansion of market.
The lack of sanitation, pollution and health issues are other negative sides of the industrialization. The highly production of goods or products are generated with the help of machines and high scale equipment.
It is posted on the Urban Gateway by way of keeping all users informed about matters of interest. The opinion expressed in this article is that of the author and in no way reflects the opinion of UN-Habitat.
Nowadays, the top level companies operate in more than one country. In mobile phone industry, Apple and Samsung are the two rivals which utilize best technology and resources to dominate the global market. They are market and production globalization.
It is only possible with the introduction and use of information technology and other latest technologies. Industrialization will lead to urbanization and modernization combines both industrialization and urbanization. The unfair pay rates, working hours and labor disputes may affect the overall business.
When the giant companies compete with each other for the supremacy, the customers can take the advantage from it. Effects of Modernization in Modern Business: As a result, there is a competitive advantage in the business. In any under developed or developing countries, the industrialization has a key role in the development of nation by utilizing best natural resources possible.
There is inequality in income. It also affects the capital flow as the maximum generated profit is taken back to the parent country.
With the introduction of globalization, there is huge competition in price, quality and market. Globalization, Industrialization, Modernization and Urbanization: For an example, the same company delivers huge salary to the employees in the United States of America as compared to that running in India, Philippines, or Brazil.
Importance of Modernization of Business: The various business and relation are performed beyond the borders with the help of globalization. With the introduction of smart phones, advanced laptops, information systems and networking; it is easy to set a business strategy for generating huge amounts of profit and business networking.Urbanization is the process of increase in a population in cities & towns where the societies become urban.
It is possible because of industrialization. There is a positive and profitable business market in the urban areas as compared to rural one. URBANIZATION AND MODERNIZATION 27 number rather than to the proportion of the total population living in urban areas (Jones, ). Qualitatively, urbanization is seen as a complex and hetero- geneous process.
Some have preferred the term "urbanism" to describe this aspect of urbanization. SinceChina has experienced a rapid and unprecedented process of urbanization, created by the history's largest flow of rural–urban migration in the world.
Urbanization Essay Examples. 35 total results. A Discussion on World Urbanization. 1, words. An Overview of Consensus and Urbanization, the Elements of the Modernization Process.
2 pages. The History of Industrialization and Urbanization in America. The process of modernization contains many elements, which work together in many ways. The two elements that I will be discussing are consensus and urbanization.
Consensus is when a group or groups of people come to an agreement with each other. − an identification of the economic effects of the urbanization process in China, − an analysis of the influence of the hukou system on the economic growth, − the verification of the hypotheses and the proposition of future actions.Download