This website uses cookies to ensure you have the best experience. Learn more

Globalization Essay

1883 words - 8 pages

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international tradeand investment and aided by information technology. This process has effects on theenvironment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.
Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for ...view middle of the document...

Governments also have negotiated dramatic reductions in barriers to commerce and have established international agreements to promote trade in goods, services, and investment. Taking advantage of new opportunities in foreign markets, corporations have built foreign factories and established production and marketing arrangements with foreign partners. A defining feature of globalization, therefore, is an international industrial and financial business structure.
Technology has been the other principal driver of globalization. Advances in information technology, in particular, have dramatically transformed economic life. Information technologies have given all sorts of individual economic actors—consumers, investors, businesses—valuable new tools for identifying and pursuing economic opportunities, including faster and more informed analyses of economic trends around the world, easy transfers of assets, and collaboration with far-flung partners.
Globalization is deeply controversial, however. Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people. Resistance to globalization has therefore taken shape both at a popular and at a governmental level as people and governments try to manage the flow of capital, labor, goods, and ideas that constitute the current wave of globalization.
The media and almost every book on globalization and international business speak about different drivers of globalization and they can basically be separated into five different groups:
1) Technological drivers
Technology shaped and set the foundation for modern globalization. Innovations in the transportation technology revolutionized the industry. The most important developments among these are the commercial jet aircraft and the concept of containerisation in the late 1970s and 1980s. Inventions in the area of microprocessors and telecommunications enabled highly effective computing and communication at a low-cost level. Finally the rapid growth of the Internet1 is the latest technological driver that created global ebusiness and e-commerce.
2) Political drivers
Liberalized trading rules and deregulated markets lead to lowered tariffs and allowed foreign direct investments in almost all over the world. The institution of GATT (General Agreement on Tariffs and Trade) 1947 and the WTO (World Trade Organization) 1995 as well as the ongoing opening and privatization in Eastern Europe are only some examples of latest developments.
3) Market drivers
As domestic markets become more and more saturated, the opportunities for growth are limited and global expanding is a way most organizations choose to overcome this situation. Common customer needs...

Other Papers Like Globalization

Globalization Essay

611 words - 3 pages GLOBALİZATİON People around the globe are more connected to each other then ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent and international communication is commonplace. Globalization is an economic tidal wave that is sweeping over the world. It can’t be stopped, and there will be

Globalization Essay

886 words - 4 pages The Effectiveness of Globalization If you look at the tag on the back of your shirt, chances are you would see that it was made in a country other than the one you are living in right now. Have you ever eaten a happy meal when you were a child? Or received a stuffed animal as a birthday gift? What do you remember the bottom of all the toys or tags? Most likely they said that they were made in China! This international exchange is just a

Globalization

666 words - 3 pages Globalization Argumentation (1, Premise)Globalization effects on economy, administrative, and geographical system of the nations in an effective manner. In todays more challenging and competitive business era, globalization is one of the most important factors that have a direct or indirect effect on the economic, administrative, and geographical system of the nations in an effective and proper manner. There are rapid changes in the economics of

Globalization - 959 words

959 words - 4 pages Globalization Macroeconomics December 9, 2013 Lloyd Ruffle Globalization Globalization is a process of communication and integration between different parts of the world. Motivated by international trade and investment and supported by information technology this process has effects on political activities, economic development, the environment, culture, and human physical well-being (What is Globalization, 2013). Technology

Globalization - 567 words

567 words - 3 pages Globalization Aisha Savage May 29, 2014 MGT/448 AHMER ALLAUDDIN A lot more businesses are shifting toward becoming a global entity after realizing the benefits it provides. The bigger the range the business can expand to, the greater the success the business will achieve to sell its products or services to. By offering a product overseas the business can offer different types of discounted prices for their services

Globalization - 1909 words

1909 words - 8 pages Globalization Nowadays people have become closer than before. Services and goods produced in a country will be available to sell in the other countries. We hear about globalization in the news every day, read about it in the news papers and hear people talking about it. Globalization is the interactively international and nearness of economies. The world is not a large and strange place anymore. We live in a place that is interconnected and

Globalization - 616 words

616 words - 3 pages Globalization MGT/448 Globalization The world today is moving toward an interdependent, integrated global economy, and away from a self-contained national economy. The term “globalization” alludes to the change toward a more combined and interdependent world economy. The trend toward a more combined and interdependent world economy is known as economic integration, economic interdependency, globalization, and internationalization (Hill

Globalization - 1285 words

1285 words - 6 pages Globalization By HEBSMB49 Workshop 1 assignment Due January 18, 2011 Submitted January 18, 2011 Globalization Introduction Modern technology has permanently and dramatically altered the landscape in which businesses operate. Advances in computers and telecommunications have enabled businesses to operate around the clock, reducing the amount of resources wasted, while maximizing efficiency and providing maximum results to

Globalization - 1551 words

1551 words - 7 pages GLOBALIZATION COURSE DATE Globalization is a concept which is argued by scholars to be very complex and hence cannot be simply restricted to a number of international occurrences (András, Gábor and Orsolya, 2007). It is important to avoid looking at globalization as simply an economy process as it is so common in the current days. Other than the commonly known economic and commercial dimension, globalization expands over the broader

Globalization - 1324 words

1324 words - 6 pages Globalization essentially is the growth of an industry to a world wide scale. Globalization is seen in several varying ways. Many tend to believe that expanding the political, economic, and cultural spectrums of the world will essentially lead the masses in to an enlightened future. However, there are many counter arguments that portray globalization as a greedy power hungry mechanism used to exploit poor and undeveloped countries. The effects

Globalization - 1695 words

1695 words - 7 pages Executive summary This research concentrates on the relation between globalization and accounting and how it affects it. The paper analyses the effects of globalization from three different sections, the effects on management accounting, the effects on the Generally Accepted Accounting Principles (GAAP), and negative and positive effects on accountants. From the GAAP perspective, the accounting principles seem to lose supremacy in the world due

Related Essays

Globalization: Essay

520 words - 3 pages Globalization: Globalization is defined as the deficiency of the walls of matchboxes which were characteristics of every country due to mutual distrust, suspicion and objectives. With these walls of matchboxes, each country experienced challenges when dealing with threats such as natural holocausts and fatal pandemics. One of the major benefits of globalization is the fact that it has toughened the nexus and helped countries as well as people

Globalization Essay 638 Words

638 words - 3 pages Impact of Globalization on Bangladesh In: Computers and Technology Impact of Globalization on Bangladesh Impact Of Globalization On Bangladesh Globalization has become a buzzword in the new era of international relations. Basically it is a process of expanding trade and commerce all over the world by creating a frontier-less market. But now it has had a far-reaching effect on many aspects of life Impact Of Globalization On Bangladesh

Globalization Essay 1919 Words

1919 words - 8 pages List of Contents 1. Background 3 2. Globalization Problems 4 3. Types of Globalization 5 3.1 Economical globalization 5 3.2 Political globalization 5 3.3 Social globalization 5 3.4 Cultural globalization 5 4. Pro or against globalization? 6 4.1 Advantages of globalization 6 4.2 Disadvantages of globalization 6 4.3 Institutes 6 5. Conclusion 7 6. Sources 7 1. Background Globalization is

Globalization Essay 848 Words

848 words - 4 pages Globalization Name: Institution: Date: Globalization is a shift or transformation in the human organization scale, which links communities that are distant, and expands the power relations reach across the regions and continents of the world. Globalization of the economy and the growth in the number of the international corporations have made communication in intellectual business an area that is