GLOBALIZATION
EVOLUTION OF GLOBALIZATION
The term globalization denotes “globe” as a single market.
Product presence in different Markets of the world.
Production base across the globe.
Human resources from all over the world.
International investment
Transaction involving IPRs.
The advent in ICI(information, communication and technology)
Rapid economic liberalization of trade and investment
The mobility of people and transactional moves
The reach of satellite channels, internet etc.
CONCEPT OF GLOBALIZATION
IMF defines globalization as “ The growing economical interdependence of countries worldwide through increase in volume and variety of cross border transactions in goods and services and of international capital flows
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To increase the profit
The failure of domestic companies
Adverse business environment
Globalization of production:
Reasons
Cheap raw materials, cheap labour and high quality
Imposition of restriction on imports
Reduce the cost of transportation
Globalization of technology:
Revolution in telecommunication, information technology and transportation technology
ADVANTAGES / DISADVANTAGES OF GLOBALIZATION
ADVANTAGES
Free flow of capital, tecnology etc
Increase in industrialization
Spread of production facilities
Balance development of world economics
Increase in production and consumption
Commodities with lower price and high quality
Cultural exchange
Demand for variety of products
Increase in job and income
High living standards
Balance human development
Economic liberalization
DISADVANTAGES
It kills domestic business
Exploit human resources
Leads to unemployment and under employment
Decline in income
Transfer of natural resources
National sovereignty at country stake.
Leads commercial and political colonization
The divide between the rich and the poor
The developing and under-developing countries
Unemployment and mass layoff
Adverse balance of payment
Volatile of markets
Loss of cultural identity
Shift of power to multinationals
Effects of globalization
1)April 30, 1789- Inauguration As The First President Of The United States. This was the swearing in of George Washington as the first president of the United States. This event took place on the balcony of the Federal Hall in New York, New York.
Link Technologies, a small firm located in San Jose, California, is currently engaged in the development, manufacture, and sale of high-speed fax modems for use in personal computers. The company was created in 1980 by Mr. James Lee, a researcher who was employed at IBM’s T.J. Watson research center, and two former graduate school classmates from Cornell University.
There has been a clear notion on what is needed in today’s education and that is diversity in the classroom to include material in the curriculum that openly addresses diversity. Teachers need to be aware that being multicultural is important, adaptation is required and ability to provide students with a safe environment. Meanwhile, also understanding the student’s interest, culture, and background is vital in the student’s learning. For example, according to Karmeen (2013), “21st Century Teacher Educator” and “Teachers as “Healers”: 21 Century Possibility? Or Necessity?” by authors Whitfield and Klug (2004); both promote the ideas of including multicultural materials in the curriculum. They both agree that the reduction of prejudice and promotion of social justice is key. One should obtain the knowledge to understand and recognize what is unique among different groups that each student represent.
Globalization is the shift toward a more integrated and interdependent world economy (Hill, 2005). Globalization has several different areas including the
Is the increasing globalization of business good or bad for the United States? If you are from a different country, what effect do you think globalization is having or will have on your country? Is globalization resulting in unequal gains for different countries?
Globalization is the process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. Globalization is simply the interactions of different countries throughout the world. International Trade as previously defined is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual. International Trade and Globalization go hand in hand. Both of these two are usually very beneficial to businesses such as
Globalization is an appealing concept that has many various interpretations and definitions. Globalization is the expanding connectivity and interconnectedness between diverse geographic nations to increase the efficiency of providing goods, enhancing relationships of cultures, economics, and technology to state
The rise of globalization following WWII generated three important factors that define today’s world. McNeill and McNeill agree with Pollard, Rosenberg, and Tignor that multiple economic changes, such as the creation of financial institutions like the International Monetary Fund (IMF) contributed to the globalization of the world economy. Carter and Warren further this argument by claiming that globalization has caused shifts in the modern economy, namely the rise of Asian economic powers. However, all three historians agree that the rise of globalization goes hand in hand with the rise of inequality in today’s world. Gaps in power, wealth, and access to information have only widened due to the trend of globalization. The final key factor defining our world today are the ongoing processes affecting development countries. McNeill and McNeill argue similarly to Carter and Warren that the end of imperialism generated new nations who quickly realized the free market was a pathway to stability. However, Pollard et al. and McNeill and McNeill place importance on financial institutions like the IMF forcing developing nations to reform their economies to be subservient to the world’s economy. Together, these historians argue that the trend of globalization following WWII caused factors like the modern global economy, the rise in inequality, and the development of new, decolonized nations to be key determiners in the world today.
Globalization refers to the interconnection among countries, politically, economically and culturally. Globalization has come into existence due to the following factors: (i) betterment in transportation and communication, (ii) human and capital mobility, (iii) increasing formation and existence of NGOs and multinational corporations.
Globalization is taking place across the world where people can either become globalization or stay local in the state or country. People are very controversial about globalization helping local economies and local businesses. Some people believe globalization is helping local businesses into the markets and then there are some that believe that multinational corporations hurting the local small businesses. What is globalization? “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets” (). Globalization has started long before we were born.
Globalization is a broad term that is commonly used in business. It is the process through which businesses and other organizations build up an international influence. Through globalization, the organizations are capable to function on an international scale. There exists a widely perception that people currently live in a world in which has experienced a substantial change in economic, political and technological relations. These changes comprise of the emergence of giant corporations which have established branches among countries all over the world. Such corporations for instance control the production of computers, oil and petrol, cell phones, food, pharmaceutical and armaments. However, the annual budgets of these corporations are often larger than for the smaller governments hence they are regarded as more powerful players in the economic and political life compared to the smaller countries.
Why do we need to study some scientific principles that were invented by foreign scientists? Why do we want to study abroad to learn more culture from different countries? That’s all because of the globalization. Globalization is a process of interaction and comprehensiveness among the people, companies, governments that from different countries. This process has make changes on many things, like: the environment, culture, economic development, political systems, societal problems… All the things have two sides, globalization also has advantages and disadvantages.
Frequently, people are unclear of exactly what Globalization means. Globalization is the tendency of the world's economies to act as a single interdependent economy. It can be described as the increased movement of people, knowledge, ideas, goods and money across national borders to make the world more unified in a sense. Globalization is often thought of in economic terms but as we know there are other components with this idea like, economics, and cultures. There is a huge debate of whether or not globalization is positive or negative.
People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization. Spurred on in the past by merchants, explorers, colonialists and internationalists, globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.
The definition of globalization includes the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Transportation and telecommunications are major factors in globalization, generating further interdependence of economic and cultural activities.