Globalisation driving evolution of business practices

A study by Capterra revealed that 60 per cent of Aussie workers collaborate with employees from different countries at least once a month during their job roles. As business practices adapt to the constant enhancements of technology, countries’ borders have increasingly become blurred over the years as globalisation takes effect.

According to the Reserve Bank of Australia, globalisation means different things to different people, but a key economic dimension of it is undoubtedly the opening of economies to international competition, allowing goods, ideas, capital, and some people to move more freely between countries.

According to the Capterra survey, 19 per cent of respondents worked with people abroad once a day. More insights showed that 25 per cent of Aussies collaborated with international workers at least once a week, with only 28 per cent revealing that they never do, meaning that 72 per cent of respondents work across international borders.

Over recent decades, Capterra noted that countries have significantly increased imports and exports. In growth economies, the increased exchange of knowledge and technology and increased rates of international cooperation boosted the share of global exports from 34 per cent to 47 per cent and the share of imports from 29 per cent to 42 per cent between 1980 and 2011.

You can read the full article at Lawyers Weekly HERE.