Globalisation

Globalisation has effects on the environment, culture, political systems, economic devel`opment, prosperity, and on human physical well-being in societies around the world. Globalisation allows free transfer of capital, goods, and services across nations.

It is not a new phenomenon but it is arguably the most significant, yet problematic and controversial change in the modern era. The report will analyze globalization by first scratching the surface and examining the positive claims associated with globalization and the way in which it has cemented economies and countries like Australia and China. The report will focus on three main claims: (1) Globalisation is about the liberalization and global integration of markets (2) Globalisation benefits everyone; and (3) Globalisation furthers the spread of democracy in the world. However, through the discussion will come to light that Globalisation is a doubled edged sword comprising of negative consequences, which at times may question the validity of this

The business world is becoming increasingly global. As a result of this, many companies, such as Costa Coffee and Dyson, have changed their strategies in relation to the markets they target or where they produce. Does the increasingly global nature of business mean that all organisations need to change their strategies significantly to achieve higher profits? Justify your answer with reference to Costa Coffee, Dyson and/or other organisations that you know.

Over the course of history, domestic politics have been shaped by international forces. Forces like war and trade; empire and colonies; migration and the spread of ideas. Globalization and Neoliberalism plays an important role in impacting politics in all states. “Globalization is a system in which human beings are no longer part of isolated communities that are linked through narrow channels of diplomatic relations of trade”(O’Neil,2017, pg.346). Globalization creates a division between international relations and domestic politics. When globalization makes a distinction, then the aspects of domestic politics are controlled by global forces. Globalization changes the  institutions of economics, politics, and society. The institutions are measure by space and time of social norms, culture, boundaries. The boundaries create a local identity and control (particularly-“state, religion, or set of cultural values holds sway over the land and here but not there.”)(O’Neil, 2015, pg.348).  Furthermore, political isolation becomes impossible to happen.

Today globalization is essentially a synonym for global business. Globalization is changing the world we live in at a very increasingly rapid pace (Rodrik., 1997). Changes in technology, communication, and transportation are opening up borders and markets at increasing rates. In any large city in any country, Japanese cars ply the streets, a mobile call can be enough to buy equities from a stock exchange half a world away, local businesses could not function without U.S. computers, and foreign multinationals have taken over large segments of service industries. Impact of Globalisation, both theoretically and practically, can be observed in different economic, social, cultural, political, financial, and

Ghemawat (2007) detailed that globalisation is more than just a powerful economic and political transformation it bound people, countries and market closer. It is a growing network of different companies, groups, and individual. Globalisation has shrunk the world from size small to size tiny and flattened the world.

Some of the advantages of globalization are growth in the economy and a decrease in poverty. Globalization according to P. Mourdoukoutas (2011) “businesses to communicate efficiently and effectively with their partners, suppliers, and customers and manage better their supplies, inventories, and distribution network”.

Globalisation is a complex and multifaceted set of processes having diverse and widespread impacts on human societies worldwide. Despite widespread interest in its emergence and impact there is only a limited consensus in the literature on what precisely globalisation actually is (Saker et al. 2004). Reviews of existing literature has identified some of the key defining features of globalisation. Globalisation can be defined as a set of processes that are: “changing the nature of human interaction across a wide range of spheres including the economic, political, social and technological environment. The process of change

The theory of globalization today is a field of intensive debate as the efforts towards defining globalization most often highlight its individual aspects. According to Held and McGrew (1999), “globalisation is an idea whose time has come, yet it lacks precise definition”. Despite the ambiguity of the term “globalisation,” the use of the term, according to Held and McGrew, reflects increased interconnectedness in political, economic and cultural matters across the world creating a shared social space. Given this inter-connectedness, globalisation may be defined as: “a process which embodies a transformation in the spatial organisation of social relations and

‘Globalization: What’s new? What’s not? (And so what)’, portrays the speed in which globalism has increased through many different factors; economically, military, environmentally and socially. This is an idealist analytic approach, not set in stone. This leads on to

Globalisation can be defined as the movement toward economic, financial, trade, and communications integration by countries and their populations globally. It is a constant process and it has resulted in the intertwining and generalisation of the needs and wants of people

The term globalisation describes the process of becoming worldwide in scope or application, and the increasing interdependency of nation-sates. At least - that gives us one loose definition for globalisation, but as Scholte (2000) realises, globalisation is a thoroughly contested subject, with arguments extend across the issue of definition as well as measurement, chronology, explanation and normative judgement. In fact, Scholte identifies five contrasting definitions for the word 'globalisation' as used by a number of the subject's commentators and critics - internationalisation, liberalisation, universalisation, western/modernisation and deterrioralisation are (2000: 13).

“Globalisation is a process in which the world appears to be converging economically, politically and culturally. Globalisation is seen by many as a fundamental change where national borders become irrelevant, a process accelerated by development in information and communications technology.”

Continuing on with the positive economic effects of globalization, the economy puts forward a net benefit to the individual economies around the world. It does so by making the markets more efficient, increasing the competition, as well as spreading wealth around the world on a more equal playing field so that all countries have some kind of reward. This makes all countries want to strive to do well and for their superiors to do well also. International trade benefits us by having foods all year round, cheaper products, and allows countries to focus on their strengths and trade for the things they can’t make cost effectively on their own.

|More access to food, services, healthcare etc. all over the world |Heavy environmental cost |