- Project summary
Globalization signifies a process of internationalization plus liberation in which the world has become a small village due to concept of globalization. The competition has become intense in every field. Nations fight with game plan to sustain their economy by introducing new policies and announcing incentives to support mainly their economic indicators. After the world economy was open attack, the Turkey economy has initiate to concentrate on the development of small industrial base which had contribute positively to the Turkey’s GDP. Turkey’s GDP growth is better than other developing countries with the developed small industrial sector
Globalization is the worldwide integration of economic system especially through trade and financially flow. Globalization brings both benefit and threat. It has both positive and negative impact on the development of small scale industries in Istanbul. There is no generally agreed definition of small scale industries throughout the world because of differences in general economic development and prevailing social condition within each country (pacific economic cooperation council, 2003).
Globalization has brought companies under small industrial sector together through opening up new markets and through technological innovation, such as e-business and e-commerce via the world wide web. It has increased competitions has ultimately and importantly altered the way small scale industries work through for example sophisticated systems, procedures aimed at streamlining and internationalizing business activities and practices (McClean, 2006).
The study adopted a descriptive survey design. A descriptive survey design involved field investigation that systematically collect, analyze and synthesis qualitative data on large representative sample of a given population to describe and explain relative incidence, distribution and interrelationship among variables and attribute that is common among a group of people through the use of questionnaire.
Mean and standard deviation will be used in answering research questions one and two, while t-test will be used in testing the hypotheses. All hypotheses were tested at 0. 05 significance levels
Globalization has various consequences on economic and financial variables, such as trade openness, diversification of exports, and foreign direct investments (FDI), and all these variables can significantly affect the level of real output, particularly in poor economies.