The Principles Components And Drivers Of Globalization Essay

Globalization refers to the development of an integrated world economy, exchange of cultural views, thoughts, and products (Wikipedia, 2013). Pologeorgis (2012) states that, essentially globalization began with the exploration and settlement of new lands. Communication and transportation advances have aided in this process.

Globalization is the process by which states become interdependent on each other on all spheres of life. It is a process where countries go global by adapting universal characteristics involving human race. It is therefore the process of uniting people of the world into one unit with universal characteristics. This characteristics include; systems of education, politics, democracy, economy among many others. Through globalization economies, civilizations and societies become integrated into a globalised arrangement of political ideas.

The world we live in today is going through enormous changes in economics, technology, culture, politics, etc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies around the world come together and expand through the combination of different forces. This paper will explore the effects of globalization on US companies, US society and economy, and the implications for other countries in the post-industrial world.

Individual Identity: Every year my family tries to take a trip back to China in order to see family. On trip back played a big role in shaping my identity. In the summer of 2012 I had the daunting task of travelling alone China. This consisted of mastering the Chinese phrases needed to guide me along the way and some way of figuring out how to transfer flights. Surprisingly the hardest part was not finding my way it was merely being alone I found that I got very lonely in the long 14 hour trip and I needed to find a way to occupy myself in order to avoid loneliness. The things I learned from being lonely help form my identity. I found that the more I tried to push away the loneliness the more it just came

The article is divided into four parts. First part focuses on the traditional perspective on international marketing strategies focusing on the dichotomy between standardization and adaptation. The second part examines key assumptions underlying the philosophy of global standardization. The third part focuses on the constraints to implementation of global standardization. The last part of the article concludes on the bases of its review that a more general approach is suitable which incorporates various degrees of standardization or adaptation strategies. It is an important article as it concludes that an effective global marketing strategy does not guarantee the marketing of standardized products and global brands worldwide. It might work for some companies but cannot work for all.

To what extent is our understanding of economic globalisation challenged or expanded by analysing the lived experience of global processes.

What are the main challenges faced by managers in what has been called the “third

Globalization is an undeniable phenomenon of our modern societies. Global patterns keep spreading in many fields of our everyday life: food, economy, marketing, and last but not least, culture. Cultural products are indeed very often produced following the American pattern and exported to various places around the world. Hollywood blockbusters are huge hits in many different countries, our radios broadcast more and more American songs and even our national singers choose to sing in English rather than in their native language. Globalization is caused by many different factors. Cross-border processes such as interregional trade, employment, population migration and military conquest or colonization probably constitute the main factors (Holton, 2000, 141, 149).

I believe that globalization brings different consequences when driven by different motives. Globalization was a tragedy for the Native American people, and so far seems to be very negative for much of Africa. I believe that when 2 or more groups begin interacting, the priorities of the most effective or powerful will dominate. Cognitive dissonance and personal perspective will continually push those dominant to fail to see the damage they do as immoral, and justifying damage to cultures and peoples by stating that it is in the interest of development is a common idea historically. These beliefs are mine and were formed over the course of the last 25 years of my adult life, mostly by watching and reading news and world events from varying perspectives and wondering how the same events can be read so differently. My apologies for the lack of references, but much of my opinions were formed by what was not said in national and international events as much as by what was.

Aspects of Globalisation The Organisation for Economic Cooperation and Development (OECD) defined globalisation as, 'The geographical dispersion of industrial and service activities (for example, research and development, sourcing of inputs, production and distribution and the cross border networking of companies (for example through joint ventures and the sharing of assets) Economic activity is becoming organised on a global scale giving a new international division of labour, with production, investment patterns and movements and technology transfers all becoming global. In this strategy, activities are established in many sites spread over the world, based on a country's comparative

When the globalization trend enriches the socio-cultural environment and expands the market scale, abundant goods in various categories emerge in the view of the public. Meanwhile, companies, inhabitants and visitors are in a

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).

Today, globalization is a generic term, economic globalization demands key developments in trade, and these are finance and foreign direct reserves by multinational corporations. International trade has grown exponentially and has become a much more prominent influence over domestic and global economic businesses. Trade consumes a quarter of the total world income encompassing merchandise trade, banking, and information. (Ferguson, 2014). Export vendors and consumers benefit from the openness of the Internet yet organizations find themselves challenged with international businesses that have improved their productivity where transnational policy differences poses significant barriers.

With the advent of new communications technology and more cost effective travel; the markets of the world have become more aware of different products and processes. As a result of this awareness, there are segments in each market that have had similar experiences and thus have common needs(Cateora, P., Gilly, M., & Graham, J.). These common needs are often described as a demand for high quality, reasonably priced, standardized products. There is a strong feeling that within each country’s market there is a growing segment that has been exposed to ideas from around the world and thus have had their tastes and perceived needs affected(Cateora, P., Gilly, M., & Graham, J.).

The rapid growth of globalization has transformed the way businesses are managing their operations in this global world. This has brought considerable benefits as well as challenges and often political backlash. In this paper, we analyze the basic facts and trends surrounding the globalization phenomenon. We attempt to understand the genesis and basic drivers behind globalization. We focus on identify and analyze factors which contribute to globalization, analyze the effects of globalization, analyze the rise of economist nationalism under globalization and attempt to find out if it exists a correlation between globalization and the rise of new nationalism.