Effects of Globalization: Tate & Lyle Case

5569 Words Mar 3rd, 2011 23 Pages
City of London College
BTEC Advanced Professional Diploma in Management Studies – Level 7

Unit 07: Management in the Wider Environment
By: MS. LENA S. MACASAET

TABLE OF CONTENTS

INTRODUCTION

PROFILE Tate & Lyle PLC 3

TASK 1 / Globalization 4-8 1 Definition 4 2 Various Dimensions of Globalization 4-5 3 Effects on National Economies 5-6 4 Influence of International Institutions 6-7 5 Effects of EU Membership on Tate & Lyle 7-8 6 Effects of EU Membership on Workplace 8 TASK 2 / Environmental and Health & Safety Awareness 9-11 5 Protection of Natural Environment 9 6 Tate & Lyle’s Environment-Friendly Standards 9-10 7 Health
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Discuss also how the EU membership of Britain affects organizations.

GLOBALIZATION

Globalization is a process in which barriers (physical, political, economic, cultural) separating different regions of the world are reduced or removed (removal of barriers is called liberalization), thereby stimulating exchanges in goods, services, money, and people. As these exchanges grow, nations and the businesses involved, become increasingly integrated and interdependent, promoting mutual reliance between countries. ⁵

Globalization is not a new idea at all. Many intellectuals including most social scientists agree of its deep origin by referring to it as a “phenomenon of long term historical process…” ⁶

Jagdish Bhagwati, a renowned economist from Columbia University and author of “In Defense of Globalization”, at his speech at IMF Economic Forum in 2004 “argued that when properly governed, globalization is in fact the most powerful force for social good in the world today.” ⁷

VARIOUS DIMENSIONS OF GLOBALIZATION

Following are the various dimensions of globalization as described by the European Network of Economic Policy Research Institutes (ENEPRI): ⁷

1) The internationalisation of national economic spaces through growing penetration (inward flows) and extraversion (outward flows).
Example: The rise of China alone accounts for a lot in the globalization story. In 2003, China’s economy accounted for 55% of Asia’s export.
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