Costs and Benefits of Globalization and Localization

1958 Words4 Pages
bulb-icon

Recommended: Disadvantages of globalization

Self-destruction, traditional conservatism, prosperity, and poverty are all key words which describe the world in which we currently live in. The combination of these words and the fall of communism in 1989 may be the reason for new developments and the emergence of globalization and localization. Globalization and localization could possibly be the result of the growth in internationalism in marketing and production. Perhaps it is the combination of all of these and many other factors. No one factor could possibly encourage such developments as globalization and localization, developments which affect the world in its entirety. In order to understand the costs and benefits of both, it is important these terms be defined. Localization is the process of adapting or integrating a product tenaciously into a particular region’s language and culture of the primary markets in order to meet that region’s specific needs. In other words, it is keeping a product within a definite locality in order to meet the area’s needs. Globalization is quite the opposite of localization. Globalization is the process of creating a product through international effort or creating a product that consists of variations in order to meet the needs of people in various regions. Simply put, globalization is creating products for the world by excluding boundaries and differences. Both globalization and localization are recent developments which have come about in the past decade and whose effects influence people of all regions of the world. The effects of globalization and localization are both beneficial and costly and have various counter effects.

Society is greatly affected politically, economically, and culturally as a result of the development of globa...

... middle of paper ...

...rimary importance while the other is of secondary importance. It all balances out in the end. Localization may be beneficial in one are, but globalization may be more beneficial in another. This is also the wrong time to consider which of the two concepts is more beneficial. Both of these concepts are yet to be fully developed or well known. It is not until globalization and localization exist in their entirety that their true benefits and costs will become apparent.

http://www.info.gov.hk/info/local-cs.htm http://www.globalize.org/globview.html

Show More
Related

  • The Pros and Cons of Globalization

    1681 Words  | 4 Pages

    Globalization. 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. When I hear of globalization I think of the whole world coming close together in all phases. I tend to think that we as human beings are breaking down barriers that have been protected or guarded. For instance, I initially thought of the progress we are making in the communication aspect. So what its globalization and its effects on the United States?

    Read More

  • The Pros And Cons Of Globalization

    937 Words  | 2 Pages

    Globalisation refers to the changes in the way nations, regions, organisations, groups and individuals interact across national borders (Rondinelli and Behrman, 2000). It is an ongoing process that gradually eliminates national and regional preferences and ultimately turns the world into a single market place (Levitt, 1983) through international trade in goods and services, cross-border flows of capital and exchange of technology (Nunnenkamp et al, 1994)

    Read More

  • Globalization as a Process

    1751 Words  | 4 Pages

    To understand globalization it is necessary to understand its core meaning. Globalization is a process. It is a process of international integration resulting from the exchange of cultural aspects, which may include ideas and products. It can be for the good or the bad, though, as the author Anthony Kugler suggests by saying, “Globalization means, above all that a single event — whether it's the outbreak of a new disease or a new medical breakthrough — now has the potential to affect everyone around the world almost immediately”.

    Read More

  • Globalization

    1323 Words  | 3 Pages

    Globalization is necessary in the world. Different theories on the concept of globalization provide distinct reasons on the need for globalization. The world’s advancements and technology help drive the need for globalization. Communities and organizations alike are affected by globalization, and smaller countries benefit from the generosity of larger participants in the world’s market.

    Read More

  • Costs and Benefits of Globalization and Localization

    1161 Words  | 3 Pages

    For the economy, there is a better chance for jobs and facilities to be created within a country that has a global economy booming. All in all I believe the benefits of globalization out way those of localization but it is very important that a country gets involved in globalization but also includes localization in some ways as well. Work Cited Rosenau, James. The Complexities and Contradictions of Globalization

    Read More

  • Costs and Benefits of Globalization and Localization

    1314 Words  | 3 Pages

    The debate over globalization and localization has long been fought as whether or not to pursue an international or isolationist foreign policy. Essentially, the term globalization means an integrationist approach to policy, whereas localization refers to a fragmentational approach to foreign policy. There are many issues in this debate, but none as complex and important as that of the costs and benefits of the economy. Other issues consequential to the topic are the political and social implications to these policies.

    Read More

  • Culture And Management In China Essay

    684 Words  | 2 Pages

    We all know that globalization leads to the development of multinational corporations which corporations or enterprises manage the production and delivery of their products in more than one country. It is an important factor of globalization that it makes more competition in the local market. This can lead to the higher quality products that the consumers in the local market can benefit. And it also creates more job opportunities for local employees. Even though it can brings some disadvantages to the changes in the local consumers and their living environment.

    Read More

  • Globalization Essay

    1396 Words  | 3 Pages

    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

    Read More

  • The Benefits and Drawbacks of Globalization

    1407 Words  | 3 Pages

    "Globalization can be defined as the ability to produce and good or service anywhere in the world using capital, technology and components from anywhere and to sell the output anywhere and place the profits anywhere" - - Peter Jay, BBC Economics Corrospondent, 1996

    Read More

  • The Pros And Cons Of Globalization

    579 Words  | 2 Pages

    Globalization helps restrict movement of products, and ideas across national borders and regional lines. Bill Gates once said, “this is a very exciting time in the world of information. It's not just that the personal computer has come along as a great tool. The whole pace of business is moving faster. Globalization is forcing companies to do things in new ways.” I believe that the current stage of globalization is a good thing because, it’s creating jobs in third world countries, creating cheaper prices on products, and it’s creating competition between businesses.

    Read More

  • Pros And Disadvantages Of Globalization

    700 Words  | 2 Pages

    There are so many more advantages and disadvantages to globalization. Globalization while not perfect does offer positive benefits such as improving global economy by providing employment opportunities for under-developed and poor countries. It also provides opportunities for producers by making a profit and the consumer being able to purchase a wide variety of products. Unity is what brings this world together and while globalization is not the perfect system, like it or not, it has already affected the world globally, which is why I feel strongly that globalization is positive for the

    Read More

  • Advantage And Disadvantages Of Globalization

    1910 Words  | 4 Pages

    Globalization is a process of interaction and integration among the people, companies and governments of different nations. Globalization not only has effects on the economy, but also the political systems, environment, culture and law. Globalization can help to expand a company's market. Expanding the market where an organization does business and promotes its products opens up a larger customer base and possibly greater profit margins. Globalization requires the understanding of cross cultures, multinational corporations’ interactions, global perspective and

    Read More

  • Economic Globalization Impacts the Entire World

    1542 Words  | 4 Pages

    Herman E. Daly argues that sometimes the terms internationalization and globalization are used interchangeably but there is a slight formal difference. The term "internationalization" refers to the importance of international trade, relations, treaties etc. International means between or among nations. "Globalization" means erasure of national boundaries for economic purposes; international trade (governed by comparative advantage) becomes interregional trade (governed by absolute advantage).[

    Read More

  • The Advantages And Disadvantages Of Globalization

    1158 Words  | 3 Pages

    trade to the free movement of labour, can also be a downside for specific countries and

    Read More

  • Understanding Globalization: A Historical Analysis

    1004 Words  | 3 Pages

    Globalization is a driving force that accumulates all countries under a common network of economic and trading system. It can be referred as a set of social processes that transform a country’s individualistic identity to a global entity. Globalization refers to the interdependency among the countries in a way that incidents of foreign countries can have a footprint on local incidents or vice versa. Globalization widens the communication among countries, enlarge the market and countries undertake economical activities beyond their physical boundaries. In whatever way the term globalization is conceived, Steger(2003:12) stated that, globalization has four distinct characteristics. First, globalization creates new and multiply existing social network. Second, it expands social relation, activities and interdependencies. Third, it amplifies and accelerates the exchange of information, materials and activities. Fourth, it transforms people’s consciousness to global

    Read More

More about Costs and Benefits of Globalization and Localization

Open Document