Number of companies that are selling their products worldwide is increasing nowadays.
Does this phenomenon have more advantages or disadvantages? Write your view and share your experience.
Industrialization and Technological advancements have helped companies to increase their production capacity. Companies therefore are searching new markets worldwide to sell their products. Many people have welcomed this move by the companies but there are others who are against it.
Many commentators are of the view that if the companies are allowed to sell their products worldwide they would pose a threat to local market. These people argue that it would be very difficult for the local vendors to cope with the standards and prices offered for the products sold by these foreign companies. This may eventually result in shutting down of shops owned by these vendors thereby increasing unemployment. The other argument put forth is such that these companies will focus more on foreign markets those earn them more profits while the consumers at home may suffer.
However, there is a different perspective to it which depicts various advantages of opening market to companies worldwide. Firstly, consumers will get lot more choices to choose from. With variety of products made available by different companies, the consumer will have advantage to choose the product that suits best to his/her needs. Secondly, High quality products will be available at cheaper price. Healthy competition between different companies will benefit the consumers not only by bringing down the prices of the products but also by improving product standards. Lastly, entrance of foreign companies into the market will strengthen country's economy. Foreign companies bring along with them foreign currency which contributes to the GDP and thereby to the economic growth of the country.
Finally, if we look at both side of argument we understand that it is a very complex issue with no clear answers.
Does this phenomenon have more advantages or disadvantages? Write your view and share your experience.
Industrialization and Technological advancements have helped companies to increase their production capacity. Companies therefore are searching new markets worldwide to sell their products. Many people have welcomed this move by the companies but there are others who are against it.
Many commentators are of the view that if the companies are allowed to sell their products worldwide they would pose a threat to local market. These people argue that it would be very difficult for the local vendors to cope with the standards and prices offered for the products sold by these foreign companies. This may eventually result in shutting down of shops owned by these vendors thereby increasing unemployment. The other argument put forth is such that these companies will focus more on foreign markets those earn them more profits while the consumers at home may suffer.
However, there is a different perspective to it which depicts various advantages of opening market to companies worldwide. Firstly, consumers will get lot more choices to choose from. With variety of products made available by different companies, the consumer will have advantage to choose the product that suits best to his/her needs. Secondly, High quality products will be available at cheaper price. Healthy competition between different companies will benefit the consumers not only by bringing down the prices of the products but also by improving product standards. Lastly, entrance of foreign companies into the market will strengthen country's economy. Foreign companies bring along with them foreign currency which contributes to the GDP and thereby to the economic growth of the country.
Finally, if we look at both side of argument we understand that it is a very complex issue with no clear answers.