It is to be stated that the accounts for globalisation in accordance with the economic activity has a major impact in the last few decades. The economic stability has increased a lot due to the implementation of globalisation and has enhanced the major factors that needed modification to enhance itself and provide the utmost stability. The aspect of globalisation has increased the number of respondents that also depicts the marketing possibility of organisations has enhanced as there is a wide range of customer base throughout the world that is all because of globalisation. This represents that the economic activity has also enhanced with such a wide range of individuals available in the market. The aspect globalisation has major implementation on technological advancement. It has been accounted that the development in the technological field has increased due to the global communication that has provided at most enhancement of several business functionalities all over the world and other working sectors. Also it has been extremely evident that globalisation has heavily influenced the lifestyle of individuals worldwide. It needs to be mentioned that individuals are telling towards the Global accomplishment when it comes to their lifestyle habits that is made possible because of globalisation. Another significant factor is related to communication that has evidently improved itself. The aspect of global communication has developed massively that has improved the aspect of connection and communication and evaluated the major application along with technological development. All of these factors have accumulated to develop the economic aspect approach of globalisation (Schwellnus et al. 2018).
There are industries of business studies that will have a negative impact on its success and stability due to the implementation of globalisation. It is to be stated that there are certain business types organisations that are locally operated and do not have the economic support that will tend them to invest in the Global market. The opportunities that global companies are providing to the customers will have a negative impact on the business strategy and stability of the local companies as they are not able to compete with such impactful business companies. However this is considered to have a negative impact on the local company economic stability as the competition in the local and the global markets is equally high and making the survival of such small scale industries very is getting difficult. Therefore it can be stated that globalisation is certainly having a negative effect on the above-mentioned industries (Luhtala et al. 2021).
This is because the Michael porter's diamond theory concentrates firstly on the organisational structure strategy and rivalry which was extremely evident in the chosen case study and also the theory helps to concentrate on the various factors that are associated with the theoretical perspective and analyses the importance of them in the Italian ceramic tile industry.
According to the chosen case study after the World War II there was a massive increase in the renovation of the property and the demand of Italian Ceramic tiles was extremely high in the market that was significant enough.
Also it has been evident that the related and supporting industries were also growing up in the next few years that incorporated a remarkable change in the overall accomplishment of Italian ceramic tile industries and this also involved a major economic development.
A.The most impactful area is related to the commercial trade that has been heavily affected due to the United Kingdom leaving the European Union. The main aim of leaving the European Union was a healthy currency system for making it as it is for the United Kingdom especially. It is to be stated that the decision of leaving the European Union had major implications on the UK business and trade policies. But it must be stated that the impact that was native was shortly as the decision of leaving the European Union was to enhance the current system that will have a positive impact in the future business and trade policies in the UK and in hands and provide diversification to the individuals as well. Initially due to Brexit the price hike was going massively. This remains the most impactful area of the UK leaving the EU on the monetary system (Lawless and Morgenroth, 2019).
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