Assignment Task:
Abstract
Local industries and international companies (or multinational companies) have always been competing for resources, labor, supply chain, distribution of products, customers and various other factors. With globalization, many reforms in industries have challenged the local market in terms of technology, resources, etc and this is evident with companies buying away smaller industries for trade. This paper discusses the some of the reforms researched that have impacted the local business both negatively and positively with international business in place. Local industries have been known for its challenges to continue its operations when competing with the international market. Many research works have been carried out to understand the struggle and also the benefits that local industries have when challenged by international business. Industries like manufacturing, raw materials, foods and cosmetic industry are facing the maximum challenges due to preference of customers towards traded goods than locally produced goods. With increased requirement of electricity and resources, local industries always end up competing with bigger industries for the basic requirements to run their business.
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