Question

What is globalisation? What risks do firms encounter from the globalisation of markets and the globalisation of production today?

Answer 1

Globalisation means When there is no geographical boundaries.there will be no barrier to entry to exist for a trade in any country.this is like interaction process among people, companies etc.

Due to globalisation there is rise of new electronic payment systems like e-wallets,pre pay , mobile pay,e-invoiced etc.these rise of new electronic payment increases risk of loss of money.

Due to globalisation there is over-standardisation of products through global branding.this leads to lack of product diversity.

There will be loss of job

This increase risk associated with the interdependence of economies.