... in following globalization strategy. The nations will have to consider not just the economic benefits but also the environmental and cultural aspects when supporting globalization.
Globalization describes the increased movement of people’s knowledge, ideas, and money across national borders that have led to increased interconnectedness between the world 's populations, economically, politically, socially and culturally. Sometimes globalization is thought of as the global marketplace, and this process has social and political implications as well. Globalization is thought of throughout the world as making societies educated and wealthier through trade to people around the world. Some people see globalization as a factor in the exploitation of the poor and as a threat to traditional cultures by the wealthy, as modernization changes societies. Location, rather than resources, has pushed places to the center
It is debated whether globalization is an advantage or disadvantage to our society. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it and in every single instance the word globalization seems to have a different meaning. Globalization is the process by which a business or company becomes international or starts to operate on an international level such like the rise of the so-called global economy. It can also bring the world closer through the exchange of goods and products, information, knowledge and culture. But over the years, the rate of this global integration has become much faster and dramatic because of exceptional advancements in technology, communications, science, transport and industry. Globalization say that it helps developing nations catch up to industrialized nations much faster through increased employment and technological advances. Yet, it weakens sovereignty and allows rich nations to ship domestic jobs overseas where labor is much cheaper.
Globalization can be defined as the system of interaction among the countries of the world in order to develop the global economy. It also refers to the integration of economics and societies all over the world (http://hotbabefatchicks.hubpages.com/hub/Definition-of-Globalization).
Globalization, a great number of people regard it as a chiefly economic phenomenon, necessitating the additional integration, or interaction, of nationally based economic entities through the development of international trade, investment and monetary flows. Also included in this view is the rapid advances in sharing social and cultural values as well as new technologies as the world grows together. Globalization can be defined as a procedure in which geographic distance is a diminishing factor in the formation and sustentation of international economic, political and cultural relations. Proponents of this process believe that free trade and integration of world markets will facilitate growth in economies both old and new. Proponents also believe that globalization will stimulate the spread of democracy and in turn improve the condition of human rights so intrinsic to the values of democracy. Critics of globalization see globalization quite differently, portraying it as worldwide push toward a globalized economic system under the control of global corporate trade and banking institutions that are not responsible to the democratic system or governments. Many questions surround globalization. What are the costs and benefits of free trade? Does globalization exacerbate global inequality? What impact does globalization have on the environment? Are industries in developed nations being weakened by industries in developing or third world countries that have a lower standard and therefore cost of labor?
Globalization is a term to denote that "something" is changing humankind’s preoccupation with territoriality and the traditional arrangement of the state system. Globalization is renders boundaries and identity with the land less salient, which means that it allows people, goods, information, norms, practices, and institutions to move about oblivious to or despite boundaries. It also indicates that something new in the world affairs moves most of the important activities and concerns beyond the national seats of power that have long served as the foundations of economic, political, and social life.
Although it is becoming a rising topic, globalization is not new. The concept of globalization has existed from beginning of time, but gained most momentum when the earth was discovered not to be flat, and traveling east was possible by traveling west. This allowed countries to trade for any foreign product they once may not have had. Globalization integrates countries with different economies, societies, and cultures across the world into one global network, with the ultimate goal of one emerging economy (Ahearn). Globalization has been fueled by new trends in trading policies, technology, and the world supply of labor.
“Globalization is not just one impact of the new technologies that are reshaping the economies of the third millennium” (Thurow 19-31). When speaking of globalization, most people will not have a complete understanding as of what it actually means or what aspects of the world it affects. Globalization promotes free trade and creates jobs. The capital markets attract investors, resort cheap labor, and leads to job losses in some areas of higher wage. While all of this is happening, the world economy is being effected: economically, culturally, socially, and politically.
Globalization, love it or hate it, but you can’t escape it. Globalization may be regarded as beneficial from an economic and business point of view, but however cannot be perceived the ditto when examined from the social sciences and humanities side of it. Globalization can be argued as a tool for economic growth, advancement and prosperity through co-operation between the developed and developing countries. The pro-globalization critics argue that the benefits that globalization brings to developing nations surpasses or outcasts the negative impacts caused by globalization and may even go a step further to state that it is the only source of hope for developing nations to prosper and stand out. However, the real question to be asked is as to what extent are the positives argued upon without taking into account the negative aspects of globalization towards developing countries. Moreover, how many developing countries out of many are exactly benefiting or even prospering from globalization is another question to consider. Therefore, my paper will dispute that indeed growth and advancement provided by globalization to developing countries is beneficial in short-term, but in the long-run, it will only bring upon negative impacts and challenges due to the obstacles involved such as exploitation of labour and resources, higher increase in poverty, and effects of multi-national corporations on local businesses and the economy, and to an extent the effects on the developing country itself.
In today’s continuously changing world, many experts say that globalization is what every business, organization, and nation should seek and welcome as a positive change. However, many people are unaware of the main focus and meaning of Globalization, especially in comparison to Localization. A large number of people believe that globalization is just another common word used to refer to changes and differences that cannot be explained or accounted for. Therefore, many different activities or changes are improperly labeled to be a part of or caused by globalization.
Globalization is the increasing interconnectedness of people, places, and cultures throughout the world today. The effects of this homogenizing process that we call globalization can be seen in all aspects of life. From McDonalds being in almost every country, to the majority of North American clothes being made in periphery countries, to the technological ability that allows us to instantly communicate with people anywhere in the world, the effects are everywhere. Economically today, globalization has had both positive and negative effects around the world, with many similarities to colonization. Globalization has also led to increased poverty amongst the global periphery, and a specific group of winners and losers within this process of globalization.
The term ‘Globalization’ refers to is the integration of economies, industries, markets, cultures and policy-making round the globe. It explains a progression by which both national and regional economies, societies, and cultures have become incorporated through the universal system of commerce, communication, migration and transportation.
Frank, Barney (1999), “The Correct Approach to Globalization,” Congressional Record, [http://apcentral.collegeboard.com/apc/public/repository/ap05_comp_govpol_glob_42253.pdf], accessed 17 May 2012.
Globalization is the connection of different parts of the world. Globalization results in the expansion of international, cultural, economic, and political activities. As people, ideas, knowledge, and goods move easily around the globe, the experiences of people around the world become more similar. (“Definition of Globalization“, n.d., ¶ 1)