PROPOSAL ON THE IMPACT OF GLOBALIZATION ON SMALL SCALE INDUSTRIES
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PROPOSAL ON THE IMPACT OF GLOBALIZATION ON SMALL SCALE INDUSTRIES
Project overview
Globalisation refers to a process of internationalisation and freedom in which the globe has become a tiny village as a result of globalisation. Every field has gotten increasingly competitive.
Nations compete with a game plan to sustain their economy by implementing new policies and offering incentives to support their primary economic metrics. After the global economy was openly attacked
Turkey’s economy began to focus on the creation of a small industrial base that would contribute positively to Turkey’s GDP. Turkey’s GDP growth is higher than other developing countries with developed minor industrial sectors.
Globalisation is the worldwide integration of the economic system, mostly through trade and financial flows. Globalisation has both benefits and threats. It has both a good and negative impact on the growth of small-scale industries in Istanbul.\
There is no universally accepted definition of small-scale industries due to variances in overall economic growth and underlying social conditions within each country (Pacific Economic Cooperation Council, 2003).
Globalisation has brought enterprises in the small industrial sector together by opening up new markets and introducing technological innovations such as e-business and e-commerce via the internet.
It has boosted competition and, more importantly, revolutionised the way small-scale enterprises operate by implementing complex systems and procedures aimed at simplifying and internationalising corporate activities and practices (McClean, 2006).
The study used a descriptive survey design. A descriptive survey design entailed conducting a field investigation to systematically collect, analyse, and synthesise qualitative data from a large representative sample of a given population in order to describe and explain the relative incidence, distribution, and interrelationship of variables and attributes shared by a group of people using a questionnaire.
The mean and standard deviation will be utilised to answer research questions one and two, and the t-test will be employed to examine the hypotheses. All hypotheses were tested at the 0.05 significance level.
Globalisation has a variety of effects on economic and financial variables, including trade openness, export diversification, and foreign direct investment (FDI), all of which can have a major impact on real output levels, particularly in impoverished economies.
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