SURVIVING INTERNATIONAL COMPETITION: ANALYSIS OF MEASURES EMPLOYED BY LOCAL COMPANIES

The modern world is stepping towards a globalised economy, and not even a single company can shut its eyes to globalisation and escape the challenges caused by globalisation. This paper critically examines the challenges faced by the local companies due to the introduction of Globalisation. It also analyses the impact of global challenges on the local companies. The persistent outstanding barrier for the small and local companies is market competition. Globalisation stimulates competition from large ventures and international companies. MNCs have the capability to eliminate global challenges than small companies. In the matter of reduced barriers and receptiveness of the world, the inexorable procedure of globalisation portrays the projects which are touching the success potentials and risk potentials. Innumerable challenges have been created by the economic globalisation for small and local companies owing to expeditious climb in the competition. Hence, the collapse rate of small companies is climbing the ladder. Correspondingly, small and local companies need to ensue the survival strategies mentioned in the review in order to succeed in challenging the global challenges. Arising out of the industrial revolution until today, irrevocable economic integration persists. The rationale is straightforward, business and profits do not acknowledge the boundaries. Wherever nearly a give and take relationship is created, a business connection is promptly established.