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Executive Summary
The world is flat is a book by Thomas Friedman that provides an overview of globalization. It is an historical and geographical journey from the days of Columbus to modern day Indian call center, from great depression to the home of a common USA housewife demonstrating the pervasiveness of the world-flattening trend. The book illustrates that in today’s era to remain competitive in global market for any company, country and individual the geographical distance is inapplicable. He suggests government business and individual who must stay ahead of these trend to remain in market.
However, Pankaj Ghemawat has argued on this book. According to him people country and businesses are bound by national borders. He argued on the fact
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He believes that the flattening of the world is the result of the various forces like collapse of berlin wall, Netscape, work flow software, uploading, outsourcing, offshoring, supply chaining, insourcing , information , digital devices etc.
Friedman in his book also describe the effect of the globalization and how one can keep up with the pace of the globalization. He identify skill has become more important than national boundaries in determining the opportunity in his life. Freidman suggests focusing educational efforts on four skill sets to help young people prepare for the increased competition they will face in the future. Due to the amount of new technology constantly being created, people must learn continuously otherwise, they run the risk of quickly becoming outdated and remain behind in this globalized world. He also tells how the company can leverage from the globalization. Each company is driven to be more creative and innovative, or risk falling between the
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He calls Flat World's new horizontal collaboration "just a nice name for the ability to hire cheap labor in India." For instance, Indian techies had the manpower and ambition to do the "huge, tedious job" of fixing the West's Y2K computer bug, giving India a rise of IT business that Friedman calls "a second Indian Independence Day." But India's Y2K windfall could be read just as easily as a sign of dependence, of reliance on tasks that American workers no longer want. Friedman rightly notes that "low-wage, low-prestige jobs in America . . . become high-wage, high-prestige jobs" when outsourced to India. But in an era where, as Friedman puts it, both pride and humiliation get served up to you via fiber-optic cable, it's not at all clear we'll like the long-term geopolitical consequences of having emerging powers reliant on scraps from the American economic
As previously mentioned, today’s world has experienced huge changes that have transformed businesses and people’s lifestyles. These changes are largely attributed to globalization,
He uses successful companies from the 80’s to today such as Microsoft, Apple, and Google. He explains that “they share a strategy that is becoming standard for success.” (Zakaria 462). Global business or taking business outside of the United States counts for a large sum of corporation’s revenue. Zakaria describes that technology itself is the reasoning behind why the U.S. economy has shifted. He elaborates on this shift, and says “Technology and globalization are working together at warp speed” (Zakaria 463) alluding to the futuristic television series “Star Trek”, which just so happens to parallel with him talking about the future of the economy. He brings other developing countries in to the mix saying “China and India have added literally hundreds of millions of new workers to the global labor pool, producing the same goods and services as Western workers at a fraction of the price.” (Zakaria 463). Zakaria switches his tone yet again to reflect optimism for America. Zakaria recognizes the large growth and now need for technology and globalization in America and let’s his readers know that this change and shift in our economy may have the economy down, but the shift isn’t a bad thing and it isn’t what is keeping people down. He encourages his audience to see that what has happened can’t be stopped. Then he asks a rhetorical question that is both simple and to the point. “So what is the solution?” (Zakaria
As he tries to explain the level of connectivity achieved by the world he enlightens events and business activities from all around the world which have contributed to the flatness, which is the connectivity of the world in Friedman’s words.
Friedman also talks about the ten flatteners such as workflow software, open sourcing, outsourcing, offshoring and supply chaining. Friedman (2005, p.35) claims that “these flatteners created the platform for collaboration that flattened the world even more”. This global collaboration boasts the increase in the levels of internationalization in the world today. Meaning more firms are internationalizing and doing business abroad. However, Ghemawat (2007, p.56-57) disputes this with his “10 Percent Presumption”. Ghemawat(2007, p.56-57) maintains that “most types of economic activity that could be conducted either within or across borders turn out to still be quite domestically concentrated”. The total amount of capital being invested in foreign direct investment (FDI) around the world has been less that 10 percent for the last three years for which data is available (2003-2005) (Ghemawat, 2007). This means that the sliding majority of investments are domestically based.
The phrase: "the world is flat" can be interpreted in many ways. Basically what Friedman means by "flat" is "linked." The falling of trade and political barriers and technical advances have made it possible to do business, instantaneously with billions of other people around the world. It has allowed for parts of the world, which had previously been cut off, like China and India, to successfully compete in the world market. Thus, the playing field is being leveled, and no one nation has an advantage. Friedman could also refer to a "flat world" in a metaphorical sense. In a spherical earth you cannot see around the world and cannot recognize the opportunities far from where you live. If the world were flat you could see it all. There would be no barriers to get in your way. This is the equivalent to a smaller globe which allows one to reach far away opportunities.
Welcome to college! You can only afford to maintain two of the next three options: adequate sleep, a social life, and good grades. In Dani Rodrik’s new book- The Globalization Paradox, a similar triangle is evinced. The author presents us with a “trilemma” consisting of Hyperglobalization, Democratic politics, and the Nation-State. You can efficiently balance two of these three triangle “corners”– but no more than two. Rodrik claims our current worldview on globalization is that the more of it- the merrier. Yet this is flawed thinking in the fact that bigger globalization isn’t necessarily better globalization, instead we need to strive for “smart” globalization over “maximum” globalization. Rodrik uses a vast amount of real world events, past and present theories, and statistics as evidence. In this essay I will first give a brief overview of Rodrik’s main argument and his evidence supporting it. Moreover, I will attempt to compare Rodrik’s argument(s) to Friedman’s. Finally, I will analyze the specific claim Rodrik makes (and one I found most interesting) concerning hyperglobalization’s hindrance on national democracies.
With the proliferation of the internet international Business transactions are more common today than ever. Globalization is now a key factor when creating a business strategy for most companies whether they are small family own businesses or huge corporations. Globalization however does not just involve selling a product in other countries. There are legal and cultural concerns that must be addressed. The legal aspects are fairly simple because in most places the laws are spelled out. It's the local customs, and regional way of doing things that can be tricky. Research on globalization has shown that it is not an omnipotent, unidirectional force leveling everything in its path. Because a global culture does not exist, any search for it would be futile. It is more fruitful to instead focus on particular aspects of life that are indeed affected by the globalizing process. (1). In this new economy, as it has been in the past, it will be the people not the machines who will determine a company's success. Having an effective Human Resource Management team that effectively analyze your company's current and future personnel needs is key in any business organization.
...in the new “flat world” individuals need to figure out how to become “untouchable.” He explains that “untouchables are people whose jobs cannot be outsourced, digitized, or automated” (184). He explains that in a “flat world” there is no longer a job based solely on geographic, but rather in most cases an available job “will go to the best, smartest, most productive or cheapest worker-wherever he or she resides” (183). He goes on to show that companies and individuals have to look at the global picture today in order to succeed (183).
Following the Great Recession, the world has been facing complex global transformations. Dani Rodrik’s “The Globalization Paradox: Democracy and the Future of the World Economy” portrays the challenges of the implications that our current model of globalization relies upon. Rodrik’s work reveals both the implications and connections of the relationships between markets, the states, and globalization in the currently changing world. Throughout the book, Rodrik argues the validity of five key points: markets require regulatory institutions, such institutions take on a variety of forms, societies should orient their market-supporting institutions to their own unique needs, markets that are responsive to democracy can avoid institutional convergence, and a world that is responsive to democracy will not reach full globalization. This book has made me question the long term sustainability of the already evolving economic globalization process. Rodrik explains that the process of globalization must be managed so that the entire world can benefit.
Just imagine waking up in squalor, a once prominent society, now a desolate wasteland. All because foreign interest has raped your land of its natural resources and you seen not a cent in profit. Although, globalization is unifying the worlds developed nations and is bringing commerce to nations that have struggle in past years. True, globalization has many positive effects but do the pros outweigh the cons. In this essay I will discuss Globalization ruining the integrity of many countries and also is forcing many undeveloped nations into a bind, and is causing economic distress on some developed nations. Also, due to economic globalization the nations of the world are diluting their culture, sovereignty, natural resources, safety and political system. My goal is not to change your way of thought, but only to enlighten you of the negatives of global economic expansion.
The book, The World is Flat, by Thomas Friedman draws attention to some very good points concerning globalization and the world economy today. Friedman emphasizes the status of America today in relation to the other countries of the world. As I looked at the things in which he warned about or highlighted, I realized the importance of this issue. He talks about a few aspects in which need to be kept competitive in order for America to retain their current standing in the world market.
...ad of capitalist organizations that are no longer constrained by borders are replacing governmental control, and corporations are becoming more heterogeneous and adapting to people who are from different nationalities and cultures. In the modern global economy professionals who possess an understanding of sociology, psychology, communication, and management are more likely to succeed in business. “Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world's best talents and greatest ideas” as cited by Jack Welch N.D.
The term ‘Globalization’ refers to the integration of economies, industries, markets, cultures and policy-making around 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. Globalization can be explained in economic and sociological contexts. Malcolm Waters, in his book– ‘Globalization’ writes that “Globalization is a social process in which the constraints of geography on economic, political, social and cultural arrangements recede, in which people become increasingly aware that they are receding and in which people act accordingly.” Whereas, Nobel laureate and economist Joseph Stiglitz in his book ‘Globalization and Its Discontents’ says that ”Globalization is the closer integration of the countries and peoples of the world.brought about by the enormous reduction of costs of transportation and communication, and the breaking down of people across the borders."
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.
Globalization has been a start of a new modernized era in history. The source states that as an individual you are given prosperity, stability, and also predictability, and also points out that it helps developing countries modernize and catch up with developed countries, and also reduce poverty since new businesses are formed allowing more employment in the country due to the subsidies that wealthier countries give to them. The person who wrote this source is a pro globalist, and has probably experienced the prosperity that was given to them because of the global trading system. His perspective on globalization suggests that globalization is the key to advancing technology, good relations between countries, and is beneficial event in history. One should embrace the global economy as it creates many roads to achieve your goals in your life, and also for the weaker countries that needs support, but to a degree that the government can intervene with the market.