Globalization : What Is Globalization?

Globalization, defined as “a process that aims to expand business operations on a worldwide level, and was precipitated by the facilitation of global communications due to technological advancements, and socioeconomic, political and environmental developments” has been around for ages. However, it is a force that is becoming increasing more relevant in today’s world. In layman’s terms, globalism is the merging or “melting” of individual perspectives and markets into a more global market. As of recently, society has been obsessed with studying globalization. However, the conversation is rarely economical. Globalization is typically looked at as a social or cultural force that is shaping and connecting the world. This is scene in clothing styles, human travel, and popular culture that has become increasingly similar across nations. That sentiment isn’t wrong-globalization does have a cultural side, but many people are missing the economic impacts that this new world is facing. In fact, the economic implications of globalization and how governments legislate to control them leads to significant opportunity, but also huge threat globally.

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 may be defined as the integration of the world 's people, firms and government. In the modern context, globalization is usually the result of closer ties in international trade, known as bilateral trade agreements. The WTO and NAFTA are two examples of such bilateral trade agreements. With such agreements, cross-country investment increases. This increase in investment is aided by the increase in information technology and communications, which has undergone a significant advancement over the last two decades with the rise of the Internet and mobile telephony (Green, 2013). It is important to the business to expand; global expansion and globalization would a positive business decision to complete in this process due to the strategic goals and objectives the company possesses. Healthy growth can be accomplished by globalization of specific areas selected and determined through research of market and development of these areas outlined within.

An economic marvel has grasped countries around the world, the scope of which only continues to grow—globalization. From our favourite retail chains to the producers of our cellphones and computers, globalization influences every aspect of our lives. The emergence of the phenomenon of globalization in the 1980’s has positively impacted the international economic community, by reducing trade barriers and in turn creating jobs, innovated technology, as well as stimulating economic growth in developing countries.

The concept of globalization is one that has pervaded public and academic discourse throughout the last three decades. The term is seldom unheard in any

Firstly, they function across national boundaries and secondly, they result in higher incorporation or interdependence of human societies. It is therefore one aspect of development that affects the world in general, from every point of human view. Globalization is therefore an important development in human development. It is therefore important to embrace it. Through the support of local governments, big organizations, and universal organizations, entrepreneurial initiatives are capable of taking advantage of globalization and economic liberalization, to advance their effectiveness in the universal market, as well as enhanced service to the overall customers. Globalization has therefore had a positive impact on the lives of people around the globe with minimum disadvantages.

In an article by authors, Lechner and Boli, globalization is described as having a different level of significance to each individual. The authors then provide a definition for globalization as referring to, “the process by which more people across larger distances become connected in more and different ways.” (Lechner and Boli) While globalization can be seen as both a beneficial and an unbalanced process, it is obvious that it has created diffusion and a greater sense of world consciousness. Interconnections across the world are increasing through the time-space compression that globalization creates. This process occurs through each form of globalization working together.

To understand globalization, it starts with its meaning and history. Globalization is based on businesses branching out to an international spectrum; many corporates take advantage of the larger scale using bigger countries like China or India. Although globalization seems like a modern idea it has been a practice all around the world. Findings found that Globalization played a substantial part during the Industrial Revolution, introducing technology and outside resources to different cultures (Ferreira, Para. 17). Globalization continues to be used and will continue to have both positive and negative effects to the world.

Title : What do you understand by the term globalization? Why has interest in globalization intensified in recent years?

Globalization is the establishment of economic, political, social, military, scientific or environmental interdependence that span worldwide distances (Steiner). This process has evolved for hundreds of years. However, this trend has rapidly increased over the last century, primarily due the forces of an ever changing society, government, and business environment. Corporations are expanding their business operations all over the world and are evolving into multinational corporations. Companies choose to invest capital for starting, acquiring, or expanding their enterprise to another country predominately for a few factors. Investing capital in a foreign nation can lead to growth. By entering a new market, a new segment of consumers can be reached, leading to new potential customers (Steiner). In addition, corporations can seek efficiencies in a foreign nation. With different resources located all around the world, as well as, generally less strict regulations on business in developing countries, multinational corporations can take advantage of cheaper labor, economies of scale, and other resourcing efficiencies to reduce their overall costs (Steiner).

The word “globalization” as defined by Merriam-Webster Dictionary is “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.” The global expansion extends goods and services to a worldwide market, via investments, services and trade. This global force is driven by economic investments in foreign markets. Factoring trade growth is pushed by financial institutions, governments and personal investors in the pursuit of profits. The growth of technology and globalization has been seen as both the cause and effect for exponential growth over the past decades. There has been a

Globalization is everywhere. Globalization is defined as “a process of greater interdependence among countries and their citizens.” (Carbaugh, 2009, p.2) It consists of increased integration of product and resource markets across nations via trade, immigration, and foreign investment- that is, via international flows of goods and services, of people, and of investment such as equipment, factories, stocks, and bonds. Globalization is driven by technological change and the liberalization of trade and opening up of the markets. Globalization has given a rise to multinational companies.

Is it possible to understand the nature of globalisation? This is a question that has led to fervent debates, and has confounded sociologists in their pursuit to explain the mechanics of globalisation (Machida 2012). Globalisation is the most dominant social phenomenon that has shaped social interactions around the world in the modern age (Ritzer & Ryan 2002). In an age where people socialise beyond their immediate communities, where a Japanese person can purchase an American product that’s made in China, and where government policies in Africa can be written by people in the Netherlands, it is impossible to ignore the current, globalised state of the world. Globalisation has led to the blurring of national boundaries, which allows nations

Chapter nineteen elaborates on the big picture of globalization and discusses the many definitions; contested meanings; and both cultural and economic aspects of the term. In this chapter, the authors argue that defining the term ‘globalization’ is difficult, and stress the importance of understanding the spatial and temporal aspects that parallel its geographical scope. Furthermore, this chapter emphasizes that globalization is more than understanding global, national, regional, and local relationships; it is also critical to consider the uneven development, networks, flows, and interconnectedness in the world.

Economic globalization has become the most important feature and a general trend of present world economic development. Globalization is a phenomenon and also a process of development of mankind and human society (Hamilton, 2008). It is the essential feature of the modern age. Globalization is the cross-border flows of capital and goods, including capital, labour, technology and natural resources (Bożyk, Misala & Puławski, 2002). Economic globalization is a historical process, and the germination of it could date back to the 16th century. After the industrial revolution, capitalist commodity economy, modern industry and transportation have been developing rapidly. The world market was fast expanded and the foreign trade was