Advantage Of Globalization

Globalization began way before when people first decided to explore and travel and later settle somewhere in a new place. It has been progressing forward and became an international norm, because of the advancement in technology. Thus, helping in speeding up the process and expansion of the businesses. Globalization connects all the five continents together and of course involves and affects them. It helps countries get new products across the world, and try to make our world a global community. With travel we can make new discoveries and share them with everyone else, making lives of each of us better, hoping increase our lifespan and thinking of the future. Globalization itself is a process to expand the business on a worldwide scale through use of communication, technology breakthroughs, and socially

Through trading resources a company can come up with a variety of tons of new product while being involved with other corporations. This process can be called diversification which decreases the risks and builds up a strong relationship between companies. It is in the company’s interest to work with other companies to get an advantage of opening new doors that the company otherwise might not have a chance to.

Developed countries like United States have a high economical standard and meet a requirement in a socioeconomic criteria, looking at GDP or gross domestic product, its industrialization and HDI or human development index. GDP is the value of all finished products/services in the market that were given in one year, which displays overall economy in that particular country. With new technology, industrialization sets in place, providing social changes and the development of the economy, making it the so to speak developed country. Human Development Index is made up of three elements, which are the expectancy of life, literacy and income. Globalization provides a push into a different direction of the country’s