Positives And Negatives Of Globalization

Business involves organizations that participate in consumer, industrial, or economic activities for a purpose, such as profit or non-profit means. Government signifies a governing body of a nation, state, or local community. Government and business are interrelated in various aspects. Business owners, entrepreneurs, and innovative minds are the driving forces of the global economy. Government controls the shaping, stabilization, and growth of these businesses and the economy in general. A product of the interweaved correlation between government and business is globalization; a process of interaction and assimilation between people, companies, and governments of different countries driven by international trade and investment aided by information technology. Globalization allows for companies to move from being associated to one country to operating a

As a result, there are a number of positives associated with globalization. It creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world (McCubbrey, 2015). Globalization has interconnected countries, languages, cultures, and people in a manner that was thought never to be possible. Global economic integration has aided tremendously in bringing together the worlds business professionals.
Firms tapping into larger markets around the world leads to more access to capital flows, technology, human capital, cheaper imports and larger export markets (McCubbrey, 2015).
It allows businesses in less industrialized countries to become part of international production networks and supply chains that are the main conduits of trade (McCubbrey, 2015).
Woods (2015) explains that the impact of globalization can be understood further when separated into two categories, market globalization and product