Each Globalization is split into time periods, with 1.0 lasting from 1492, when Columbus sailed the ocean, to 1800. Friedman explains that Globalization 1.0 was about countries and their muscle. To further explain this, he adds that it mattered how much “muscle, horsepower, wind power, or, later, steam power your country had and how creatively you could deploy it” (Friedman 22). Globalization 1.0 was all about the competition between countries and how effective you were in using your power in competition. Countries, according to Friedman, led the way in driving global integration in this
The concept of globalization which is very recent but the term has been present all through history. Expansion, whether imperial or cultural, was hardly new in 1200 CE. (Pg.6) Globalization starts to take great altitude from the Industrial Revolution in England, which was the most established country at that time period. Great intellectuals established theories of international trade that have lasted all this time since they are accurate and reliable. These theories are established on what is called the principle of comparative advantage. They assert that, every country should be dedicated to making those products that are more organized than others.
In the past 25 or 30 years, businesses in America have grown significantly in power and magnitude. Globalization has changed the way corporations do business and also have remain an endless discussion for those who see it as good or bad for corporate world. Large corporations like the retail store Walmart have turn out to be an enormous and dominating global organization. According to Mora...
The Industrial Revolution provided well-defined boundaries between communities, companies, nation-states, markets, and peoples established by the invention of the railroad. The new era of globalization or Informational Revolution breaks down all of these boundaries and shapes our lives by integrating technology, finance, and information into a single global market. E-Commerce globalization has created a system that is shaped by superpowers, supermarkets, and super-empowered individuals.
The three Globalizations contrast in many ways. Globalization 1.0, lasting from 1492 to about 1800, was about countries and muscles. Its force driving the process of global flattening was the amount of "muscle" your country had. The key agent of change in Globalization 2.0, which lasted from 1800 to 2000, was the power of multinational companies, which went global for markets and labor. Globalization 3.0, beginning in 2000 flattened the playing field even more. The dynamic force was the power by which individuals could collaborate and compete globally. They could do so digitally with the convergence of the personal computer with fiber-optic cable. Globalization 3.0 differs from the previous two not only in how the world is flattening, but also in the types of people involved. In Globalization 1.0 and 2.0 it was mostly American and European businesses who...
Some say that globalization began back in the days of slavery as Africans were taken and transported from their homes to different parts of the world. During the globe-trotting times of early sailors, contrasting ideas and ways of life were shared with people of variant cultures. This led to mutual respect for others around the globe. Things such as spices, potatoes, and coffee were considered high commodities and contributed greatly to the early globalization era. For instance, spices such a...
The Impact of Globalization on Business May 22, 2006, By Mike Myatt, Chief Strategy Officer, N2growth
When people realized that the earth was round, their curiosity peeked. Explorers set out to discover what exactly was in place. They returned to their homelands with new ideas, new products, and an increased knowledge about a world that appeared to increase in size. While today, we realize that the earth, did not in fact become larger; people just became aware of what was out there. Today the world still appears to "grow"; yet, there is a debate as to whether or not this is beneficial. In the times of Christopher Columbus, the expansion of the globe was referred to as exploration. At the moment, this "exploration" period is often termed globalization. There are many other differences than just a change in name. In the past, people were anxious to share knowledge and learn about new things that they could apply to their country. However, today the attitudes of some have changed since the days of their ancestors. Critics of globalization feel that it is more beneficial for their country to remain independent of the influence of other countries. They are not welcome to the so-called benefits that have been introduced in their country. Globalization is seen as a threat to their political system, their economy, and their country. They believe in localization. They are more concerned with what occurs within their boundaries. Proponents of globalization on the other hand, are still interested in exploring. To them, globalization can do nothing but help their respective country flourish among those of the rest of the world. Here, the benefits to the political, social, and economical realms of their land are aided by their increased knowledge gained from fellow countries.
The first aspect, empirical globalization, is one that has been rampant for all of the past to the present. By globalization, I do not merely mean exploring another country in a peaceful, knowledge-seeking manner- I wish that were the case. In speaking of this, I am speaking of that which is exemplified so well in the Spanish conquistadors in America, the “noble” conqueror and king Alexander the Great, and so many more nations and figureheads to mention. These people were and seemingly still are venerated as heroes for finding knew lands, “taking them”, and becoming incredibly wealthy off those lands res...
Today, after more than a generation, the term globalization is a more advanced reality. It also affects the strategy of the firm sees its market activities globally. Similarly, there is no limit to the production sites; and innovation, technology and cost issues outweigh national origin. Thus, firms will "reinvent" and constantly seek to optimize their position in their market, also have consequences on financial issues.