Impact of globalization in local companies : a case study on PRAN RFL Bangladesh

Abstract

Globalization recognized as a blessing, has brought the world together on a unified platform, interconnecting countries and economies across the globe. This complex phenomenon encompasses a complex network of relationships and interdependencies between countries and their economies worldwide. It involves the movement of various elements such as goods, services, information, technology, cultures and ideas across borders. Advances in communication, transportation and technology have greatly facilitated the process of globalization. While it offers benefits such as increased economic growth, greater market access, and improved cultural exchange, globalization also introduces challenges and obstacles.

Critics argue that globalization can lead to income inequality, labor exploitation, loss of cultural diversity, and environmental degradation. The impact of globalization is complex and varies across regions and sectors, affecting global economic, social, political, and cultural dynamics. Considering the complexity and challenges in business it is said that local companies in developing countries are facing mentionable struggle to sustain with bigger companies. Commissioner of the thesis is PRAN RFL which is a market leader of Bangladesh with its various ranges of products availability. Furthermore, for data collection relays on official data from PRAN RFL Group. And, interview from all divisions taken place to conduct primary research data for in depth analysis. Apart, internet, books, journals and online data sources were used as a reference sources. Apart, for data presentation and analysis Microsoft Word, Microsoft Excel, Microsoft Power point, and Google Docs were used as supportive tools.