Apply with relevant marketing frameworks the benefits and challenges related to globalisation and the possible implications to Nike

Apply with Relevant Marketing Frameworks the Benefits and Challenges Related to Globalization and the Possible Implications to Nike
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Apply with Relevant Marketing Frameworks the Benefits and Challenges Related to Globalization and the Possible Implications to Nike
Globalization describes how businesses, nations, and people are becoming more interconnected around the world (Collins, 2015). According to Jenifer (2015), various forces contribute to the higher growth of globalization. The driving forces include modern technology, media, transport, and global finance. These forces make it easier for people, ideas, services, and goods to cross to other boundaries around the world (Dudley, 2017). According to recent research, globalization offers both positive impacts and challenges (Duncan, 2018). For instance, it provides significant opportunities for economic growth, which improves people's lives. On the other hand, it leads to some adverse problems related to the welfare of employees, the environment, and economies as it shifts the business operations between different states across the world (Khoo, 2017). The paper seeks to discuss the benefits and challenges related to globalization across the world and its possible implications to the Nike Company.
First, globalization leads to access to new markets across the world (Hopwood, 2019). Through globalization, businesses can open new companies in other countries, which helps them to gain new customers and diverse revenue streams. However, acquiring new customers is challenging, and the companies decide to apply different marketing frameworks to them (Gerle, 2000: Jenifer, 2015). For instance, some use the 7 Ps marketing strategies to promote their products to diverse areas (Dudley, 2017). Moreover, companies use innovative ways to produce quality goods and services, which nurtures their business overseas. Globalization is made more accessible by the Professional Employer Organization. The organization helps enterprises to employ a worker from other countries quickly and acquiescently (Kazi, 2011). According to Bacchetta and Jansen (2011), this has made it easier for more businesses to establish new markets overseas without establishing a foreign entity.
Secondly, globalization raises the standards of living for larger populations across the globe. Through new employments in the global businesses across the world, people can earn wages and salaries to cater for their basic needs (Locke, 2002: Oumlil, and Rao, 2005). According to a World Bank report, in the past years, globalization has reduced the extreme poverty levels by thirty-five percent since the year 1990. Additionally, through globalization, the world has been able to meet the millennium development goals to cut the poverty level by half (Passaris, 2016). In 2010, the report indicated that more than 1.1 billion people had moved from the extreme poverty levels since the start of the millennium development goals campaign (Walter, 2018). The penetration of new businesses in the developing nations has enabled people to secure new employment, which is earning the wages and salaries to cater for their basic needs.
Thirdly, globalization leads to...