University of Gwadar
Knowledge | Wisdom | Service
Assignment no 1
Assignment submitted by:
Saboor Naseer
Course instructor:
Sir Dilawar Kham
Reg No. 011
Course: Marketing Management
Department of Management science
Program: BBA
Session: 2022-2025
Email: [email protected]
First, let us discuss the 3 term that was used in the question:
1. Globalization: Globalization is the process of businesses becoming more interconnected
and interdependent. This means that businesses are now competing with companies from
all over the world.
2. Advances in technology: Technology is constantly changing, and businesses need to be
able to keep up with the latest trends in order to stay competitive.
3. Deregulation: Deregulation is the removal of government restrictions on businesses.
This can make it easier for businesses to operate, but it can also lead to increased
competition and lower prices.
Answer no 1: Let take an example of each term, imagine you have a shop, and you've been
running it for years. Suddenly, there are many changes happening all around. People from
different parts of the world are buying and selling things, thanks to the internet. This is what we
call globalization. Laws that used to control your shop are changing, giving you more freedom to
do things your way – this is deregulation. But the thing that can help your shop shine the most is
the way technology is getting better and better. Technology means all those smart gadgets and
computers that seem like magic. Think about smartphones and the internet. They're like super
helpful tools that can make your shop more famous and can help you sell things to people even if
they're far away.
So for the businesses that have been running for a while the advancement in technologies is the
best with the most opportunity for them to grow. Now let’s discuss why is advancement in
technologies best for old businesses in bullet point:
Automatic tasks: Businesses can use technology to automate tasks, such as customer
service, data entry, and inventory management. This can free up employees to focus on
more strategic tasks, and it can also help to improve efficiency.
Improve customer service: Businesses can use technology to improve customer service
by providing 24/7 support, offering live chat, and using social media to interact with
customers. This can help businesses to build relationships with their customers and to
provide them with a better experience.
Expand reach online: Businesses can use technology to expand their reach online by
creating a website, using social media, and running online advertising campaigns. This
can help businesses to reach new customers and to grow their business.
Develop new products and services: Businesses can use technology to develop new
products and services that meet the needs or preference of their customers. For example,
businesses can use artificial intelligence to develop personalized recommendations for
products and services.
Answer no 2: Now let’s talk about the businesses that have recently started. For them out of the
three challenges, globalization is the best one with the most opportunity.
Let me begin my explanation with an example, think about starting a small shop. You have great
things to sell, but not many people know about your shop yet. Now, imagine if you could tell
people about your shop not just in your town, but in different parts of the world. That's what
globalization means – connecting with people everywhere.
Bullet point on how the globalization is helping new businesses:
Access to new markets: Globalization can help new businesses to access new markets
by making it easier to export their products or services. This can be a great way to grow a
business quickly.
Lower costs: Globalization can help new businesses to lower their costs by sourcing
materials or labor from other countries. This can make it more affordable to start and
operate a business.
Increased competition: Globalization can also lead to increased competition, which can
force new businesses to be more innovative and efficient. This can be a good thing, as it
can lead to better products and services for consumers
Another example is that suppose you want to start a new business selling clothes online. You
could target customers in other countries by translating your website into different languages.
You could also source your clothes from other countries where labor is cheaper. This would help
you to lower your costs and make your products more affordable for customers. Because of
globalization, every new business has an equal shot to get loyal customers and to be at the top of
their competition.
In the end, for new businesses, out of three big problems – globalization, advancement in
technologies, and deregulation – globalization gives the best chance. It's like a door that opens to
a world full of good things. You can talk to people who are really far away, show them what you
have, and even bring special things to your own town.
