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, 2009).
Institutions remain required to help assist, govern, and police global markets and promote the establishment of multinational treaties to assist in governing the global business system. Some of the institutions developed to help assist ...view middle of the document...
Low cost global communications help to create the electronic global marketplace, low cost transportation helps to create global market, and global communication networks, and global media are creating a worldwide culture, and global market for consumer products (Hill, 2009).
The effects of globalization remain seen in both the workplace and community. In the workplace the sale of goods to other countries and manufacture of goods in other countries are two effects seen in the organization. Because the organization where I am employed comprises of several organizations, which supply product, the manufacturer of radar systems in Canada, and supplied to countries around the globe remains an effect of globalization. Additionally the manufacturer of imaging systems in the United States and sold to countries around the globe is also an effect of globalization. In both cases the use of materials, such as microprocessors remain purchased from countries such as China and Japan and continue use in...