The Importance Of Globalization

Globalization can be seen as reduction in barriers between countries. Globalization has opened the world market for international trade. The movement of globalization have contributed to the spread of knowledge, culture, technology, and information across borders. The increasing role international expansion across border has also increased the focus of multinational corporations to international business strategies. Organizations today in developed nation or in developing nation are going international due to increase in competition. They want to expand their limits beyond local region. Competition in domestic market and pressure to expand the business are the few reasons for the globalization. The following are the few

I believe globalization is somewhere in between of having a positive or negative impact on the world. Just like the old saying “too much of a good thing can be bad for you” the key to everything in life is balance and excess might harm you. Furthermore, both sides of globalization have compelling arguments on the positive and negative effects of globalization, furthermore different countries and cultures would have different opinions in regards to how they have been affected by globalization. In this assignment I will look at the positive and negative views of globalization to further prove that globalization ultimately falls somewhere in between as being positive or negative.

Globalization is a unique process which has resulted in the linking of different national economies and local cultures into one global system and significant intensification of worldwide social relations. Development in transportation and infrastructure, as well as technological advancement promoted global interconnectedness and interdependence, having removed the barriers separating the world. Globalization is a fairly recent phenomenon, and as Fichtelberg pointed out, it affects virtually everyone almost everywhere. (Fichtelberg, 2008, p. 3) People all over the world are absorbing aspects of other cultures and lifestyles, through sharing of ideas, food, and entertainment. Globalization intertwined local and global, local neighborhoods are being influenced by world money and commodity markets, operating at an indefinite distance away from that neighborhood itself. (Franko, 2013, p. 3)

Globalization is among the top most contested topics in the globe. It, however, lacks a universal definition. Nevertheless, Ismail (2010) describes globalization as a set of divergent processes and social, cultural, and economic shifts that are experienced in cities across the globe. Ismail (2010) also asserts that the most significant economic trend, which is associated with the modern-day wave of globalization, is the immense economic restructuring in cities. She points out that this new structure in the economic activities is linked to a new spatial order. It results in a new urban hierarchy merely founded on networks and connectivity. The current economic trend and the global economic changes are the basis for spatial and social

As we know, globalization is considered to be the process of ideas, goods and communication flowing cross-border with unprecedented speed, range and volume. It is regarded as the presence of the same lifestyles, products, consumption patterns, and cultural experiences across the globe, across many economically AF fluent or economically poor countries of the world. (Firat A F, 1997) This globalization and reproduction from markets and their productions all over the world, and the increasing "sameness" one seems to encounter in almost all major cities of the world. They also result in

Throughout the years, the issue of globalization has been condemned by many despite the countless benefits it provides around the world. Globalization has been proven more beneficial than detrimental due to its advantages to the environment, developments in a poor country, and the change and fluidity of cultures.

Globalization is the proximate and multidimensional set of political, economic, social, and technological integration around the globe. The increasing interconnectedness among countries can be seen through the prism of globalization. Essentially, the lives of people living in distant cities like Bangalore and Silicon Valley are brought closer as a result of this phenomenon. Drivers of this adjacent include; the expansion of trade, technological exchange, labor movement and investments (Stearns 2017). The discourse of globalization encompasses several multidisciplinary themes. The paper, however, concentrates on the economic factors, “which, entails the closer economic integration of countries of the world through increased flow of goods, services, capital and even labor.” (Stiglitz 2007: 4). The paper focuses on economic globalization and elucidates whether the globalization has reduced poverty and inequality or had reproduced the reversed implications. Meanwhile, the paper reveals if the developing world has benefited from the set. This seems to be the central question that policymakers, development economists, and politicians have been grappling with for years. The paper is presented in three parts. Part one reflects on the historical context of the problem statement. The second part compiles literature and juxtaposes with cases to corroborate the globalization-poverty-inequality triangle. Finally, the conclusion represents the author’s viewpoint on the

My first recommendation to promote better allocation of resources at the global level is to form a new development strategy focused on the needs of each individual nation state. This strategy relies on a total disregard of the Washington Consensus’ overgeneralized liberal development policies. The World Economic Forum needs to form committees for every under-developed country dedicated to the specific needs of each nation. Each committee must focus on the complex interrelatedness of social, political, economic, cultural, and natural factors unique to each nation. This individual tailored approach to development is time consuming, but it is a critical component of truly tackling the issue of development. This approach to development relies on the disintegration of globalization. The needs of many countries do not align with capitalist polices, and thus undermine the concept of a globalized capitalist market. My plan relies on an individual country-by-country development plan.

Globalization has been in a toss-up on the valuableness of its control and how it benefits the world. Many views have come up due to the advancement of the world collectively, some believe it has only benefited society has a whole while others say it has brought only destruction to the social and cultural aspects. Two professors at highly ranked universities discuss their views on Globalization and how it has influenced the world. Globalization has greatly impacted the world through its social relations through culture. Amartya Sen at Harvard University expresses his views on Globalization through the spread of intellectual ideas and how it takes one great idea to spread across the globe.

Globalization, the process by which businesses or other organizations develop international influence, is a very important aspect in the operation of a company. Globilzatoin encourages companies from around the world to compete in the global market, which also impacts the growth and value of an international corporation. Internationalization is a company is costly and time consuming for a company because it requires extensive strategic planning, implementation, and analysis of a given global market, opputunities and threats. However increased involvement in foreignl investments is a strong portfolio asset for a company, and can ultimately lead to big opputunitiy pay offs and increased profits for any company. Some international businesses also benefit from the advantages of globalization, making it more manageable in other areas of their business including: operational expenses, labor expenses, and low cost resources by the processes of Offshoring and Outsouring certain sectors of their business and its operations. Of all the possible benefits of merging a business into the global market, the impact it has on branding for a company is most important, Brands like Louis Vuitton, Apple, & Macy’s are all prime examples of companies that have expanded their products into global markets by strategically planning, implementing stratagegy, and constantly researching and analyzing the international market structure. Tapestry Inc, is an example of a company in the intancy stages of

We all use the term globalization but what is globalization? Globalization is both a process and a theory. A man by the name of Roland Robertson, who is linked closely to globalization theory, views globalization as an accelerated compression of the contemporary world and the intensification of consciousness of the world as a singular entity. Compression makes the world a single place by virtue of the power of a set of globally diffused ideas that render the uniqueness of societal and ethnic identities and traditions irrelevant except within local contexts and in scholarly discourse. It is the world being transformed into a global village. Today because of globalization there is a worldwide integration, technological revolution, increase trade among nations, reduction of cultural barriers, increase environmental protection and a spread of democratic ideas.

Having good historical context is very important in dictating the needs of a state. It is essential in knowing what certain trends and cultural roots a society may have. For example, Brazil received a huge boost in its economic development when globalization first occurred because they now became a central trading hub in South America. ‘Why is Brazil “Underdeveloped” and what can be done about it?’ states, “From 1913 to 1980, Brazil experienced sustained growth, interrupted only briefly in the early years of the Great Depression, at nearly two percent per year from 1913 to 1950 and nearly four percent from 1950 to 1980. In this period of nearly seven decades, Brazil had the fastest growing economy in the western hemisphere. Per capita GDP increased over eight hundred percent, from $678 in 1900 to $5570 in 2000, measured in 1990 dollars. Brazil’s economy gained on the U.S. economy, rising from only ten percent of US GDP per capita to over 20 percent.” This goes to show that clearly there is some benefit to having yourself involved in the world market which was created as a result of globalization. Although, it is also important to note that this also had an adverse effect on them later when their global market was no longer as valuable. This article later mentions, “Excessive centralism in the nineteenth century prevented municipal and state governments from borrowing abroad, or at home, to invest in needed infrastructure, such as road, ports, railroads, utilities, schools,

A business needs marketing strategies in order to reach their products to a global standard. Due to the new age of social media and globalisation consumer want products and services with speed and quality. Fortunately business such as McDonalds, Nike, Coca Cola, Apple and numerous others have amassed great success using marketing strategies to incite consumer from all around the world. Therefore global businesses have used marketing strategies such as branding/ packaging, advertising and pricing strategies to create a global multi billion empire.

Globalization is a very controversial issue that has attracted massive attention in the past few decades. Globalization has impacted people across the world in personal, social, political and economic fields. The effects of globalization are numerous. People across one country today eat from the same restaurants, wear the same clothes, speak the same language and drive the same car as people from the opposite side of the globe. Instant communication with people is easier today than ever. The consequences of this rapid globalization are subject to interpretation. People, in general, tend to be biased about the net results of globalization. World leaders, however, have taken tangible steps towards encouraging a peaceful globalization.

Globalization has an important role in transport and trade to various countries around the world. With the many benefits of globalization, it also brings about diseases that normally would be contained by boundaries and the rate of spreading is enhanced. Third world countries have a higher risk of infectious diseases and an increased death rate. The World Health Organization has specific days designated for different issues: World Malaria Day, World Hepatitis Day, World AIDS Day, etc. The U.S. population can be affected by health threats across the globe; failure to act on and prioritize health and security can lead to disaster. The United States has “taken important steps to strengthen its capacity to address the threats posed by these