...Globalisation can be defined as the process of the world becoming smaller in terms of connectivity, communication and breaking down trade and border barriers. It has brought about positive as well as negative effects to the world. This essay will examine how the outcomes of globalisation play a part in developed and developing countries and their impacts on Singapore. Technology can be described as a crucial factor for most globalisation processes. Technological advancements have brought about convenience and the world closer. A study by Martin Prosperity Institute (2011) ranked the top ten countries in terms of their investment in research and development and the majority are developed countries. There is heavy emphasis on research in the development of technology because of the enormous potential of economic growth by the possible improved efficiency and productivity in manufacturing processes. Nevertheless in developing countries, they look to immediate technology in order to combat poverty. Using science and technology, developing countries can accelerate the growth of fields such as medicine, electronics and farming techniques and these advances reduce poverty and human suffering (United Nations, 2005). However, technology does not necessarily benefit both developed and developing countries. Globalisation could result in the digital divide and this happens in all countries regardless if they are developed or developing. Those who have the financial ability will be wired...
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...Question: How does Globalisation affect you as an International Business Student? 1.0 Introduction I’d like to begin this discussion by first asking a few questions. What is globalisation? What does a global world mean? Is it the fast movement of people which means greater interaction? Does it simply mean that due to internet revolution and other technological advances the world is now a village? Does globalisation represent the consumer and open up markets worldwide to their choice and preference? Does it mean countries are free to trade with each other without red tape and other barriers and tariffs? Though the precise definition of globalisation is still unavailable a few definitions worth viewing, Stephen Gill: defines globalisation as the reduction of transaction cost of transborder movements of capital and goods thus of factors of production and goods. Guy Brainbant: says that the process of globalisation not only includes opening up of world trade, development of advanced means of communication, internationalisation of financial markets, growing importance of MNC's, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and pollution. As an international business student globalisation has opened up the world to me. The world is now on my fingertips, I am able to use the world’s resources, learn from fortune 500 companies. I am able to interact with international leaders who would otherwise be...
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...How to Take Your Company to the Global Market George S. Yip Pierre M. Loewe Michael Y. Yoshino Deciding how to deal with the globalisation of markets poses tough issues and choices for mangers. There are both external business forces, and internal organisational factors to consider. External business forces revolve around the interaction of industry drivers of globalisation and the different ways a business can be global. Understanding this interaction is key to formulating the right global strategy. Internal organisational factors play a major role in determining how well a company can implement global strategy. This paper provides a systematic approach to developing and implementing a global strategy. MOST MANAGERS have to face the increasing globalisation of markets and competition. That fact requires each company to decide whether it must become a worldwide competitor to survive. This is not an easy decision. Take the division of a multibillion-dollar company, a company that's very sophisticated and has been conducting international business for more than fifty years. The division sells a commodity product, for which it is trying to charge 400% more in Europe than it does in the United States. The price was roughly the same in the United States and in Europe when the dollar was at its all-time high. The company built a European plant which showed greater return on investment with that European price. But the dollar has fallen and, if the company drops its...
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...nearness of economies. The world is not a large and strange place anymore. We live in a place that is interconnected and intertwined. The world has become from a place that each country and their peoples are separate and isolated to a place that each country and their peoples are part of a global network. Thanks to globalization this is occurring. It is the process that has led to the diverse parts of the globe becoming much closer to each other (Slaughter and Swagel, 1997). Globalisation is the procedures by which the people around the world become connected to each other in all aspects of life, culturally, technically and politically, economically and environmentally. Globalization assists improving technology that benefits many people in throughout the world. By increased the spread of cultures, trade, information and creating options, Globalization can be highly beneficial to everyone by bestowing great fortunes on us. This essay will highlight some of positive and negative effects of globalization. Globalization is the ‘international integration” or ‘de-bordering’ – “a number of highly disparate observations whose regular common denominator is the determination of a profound transformation of the traditional nation-state”(Bogdandy, 2004).Those in favor of globalization argue that it connects different people from different cultures and backgrounds together. Proponents argue that globalization improves the lives of people around the world. But this is not the case....
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...Globalisation and Rising Inequality in Australia Is Increasing Inequality Inevitable in Australia? Tom Conley Griffith University Introduction I want to dedicate my government to the maintenance of traditional Australian values. And they include those great values of mateship and egalitarianism.1 10 years ago a Mitsubishi type development would have flattened people psychologically. Now they take it in their stride … 2 Policy-makers and commentators have long been cajoling Australians into accepting that they are a part of the global economy, which means an acceptance of a whole range of ‘new realities’. One of the major themes of the pro-globalisation position is that Australia has accepted these new realities and adjusted well to globalisation by embracing economic liberalism. The results, it is argued, have been overwhelmingly beneficial. John Howard points out the Australian economy has grown for fourteen years straight – a remarkable achievement by any standards. This success story of growth has tended, however, to override more disaggregated, negative analyses of social outcomes in Australia. A less sanguine part of this new globalising ‘reality’ appears to be an acceptance of rising inequality. Indeed, it is often implied that rising inequality is a spur for growth. The argument is that everyone is better off, it’s just that some people are better off than others. While commentary is often not explicit about the association of globalisation and rising inequality...
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...Globalisation benefits everyone Academic Communication Group F Becom year 1 Globalisation benefits everyone Globalization is defined as “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets”. (htt64) In both economical and cultural circumstances, people benefit from globalization, but to a certain extent. Globalization can help science, communication between people worldwide, free trade and better choice for consumers. Globalization however, leads to the disappearing of language, tradition, singular identity and tracks of people’s roots. Economy benefits from globalization because of the easier ways to trade and assembling products. Globalization can help industries to find and develop resources, be more eco-friendly, learn how to be competitive, create more jobs and make the prices for consumers cheaper. This happens because if an industry needs to face the world market without being protected by trading barriers, it needs to be efficient and competitive in order to survive. Big industries become generally more eco-friendly in order to have a good reputation and be self-sufficient. An example could be the Ferrero enterprise that has the “goal of sourcing 100% sustainable cocoa by 2020 and to achieve independence” (httFe). The liberty of expanding big industries freely to other countries could though destroy small businesses that can’t face competition...
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...GLOBALIZATION: BOON OR BANE INTRODUCTION Globalisation can be defined as the growing economic interdependence of countries worldwide through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows through the rapid and widespread diffusion of technology. The fact that is important in today’s globalisation that really matters is that the accelerating speed is very fast. In the past it takes years or decades for influence to be passed for such an impact to be made. But today the influences or transmission of culture values, language, economy and administration can take place within months. This is the major difference. So globalisation is the transmission or extension of values, goods, services, thought or culture across border and it occurs with accelerated rate. The drivers for this accelerated speed are the technology and economic liberalism and the free movement of people. The nature of capitalism was such that entrepreneurial talent would not be constrained by geographical and legal boundaries. The growth of a dynamic trade system and the consequent development of classical payment arrangements like the gold standard have been seen by political economists as early yet decisive pointers towards the globalisation of the world economy. At the centre of this process is the idea of the Market and in particular the market for finance, capital, allied with the Multinational Corporation...
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...brought about a revolution in people’s daily lives. While the origins of globalisation are often disputed, there is no denying that through the years our day to day activities increasingly link us to other people and activities throughout the rest of the world (Surman, 2009). There has been much debate on the effects of globalisation and what businesses and consumers facing them should do. This essay will outline and discuss elements of the paradigm shift of the last thirty years starting with the call for global standardisation and lowest cost orientation for the benefit of the consumer, as expressed by Levitt (1983) in his legendary article “The Globalisation of Markets”. We will then jump forward to the twenty-first century with global brands and glocalisation supported with the following articles: Holt et al (2004) “How Global Brands Compete”, Askegaard and Kjeldgaard’s (2006) “The Glocalisation of Youth Culture” and Surman’s (2009) “The Global Consumer”. Discourse around what companies operating on the global level should and shouldn’t do always ends up being centered on the consumer. What the consumer wants/needs, what they will buy and why they buy it, what implications does buying the product have for them. Levitt (1983) states that consumers are driven by the lowest price, though accounting for the importance of quality. Products are bought in the first place because of their functional benefits and ability to increase discretionary time. Companies must work under the...
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...Economics The UK Economy and Globalisation WHY COUNTRIES TRADE GLOBALISATION Globalisation | Expansion of world trade in goods and services leading to greater international interdependence | Globalisation usually leads to: * An increase in outsourcing * Large sums of money being transferred from country to country for financing When did Globalisation First Start? There are three major stages of globalisation: Stage | When? | What? | 1 | 1870Increase in international trade | * New technology helped improve transport * Reduced cost of moving goods between countriesEnded in 1920s as countries tried to protect home industries against foreign competition so reduced imports. | 2 | 1945 End of Second World War | * Countries keen to rebuilt economies * Led to rapid expansion in world trade * International Monetary Fund and World Bank founded * Promoted trade and economic cooperation | 3 | Now | * Increase in trade and capital flows between countries * Growth of huge companies | Factors Contributing to Globalisation Improvements in transportation | Cost of transporting goods decreased (eg: due to containerisation) meaning goods can be traded competitively worldwide | Improvements to ICT | Communications are much faster and cheaper – payments can be sent between countries immediately at a low cost. Promotion of products via the internet to a worldwide market also increases world trade. | Rising real living standards |...
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...of worldwide practices, relations, consciousness, and organization of social life. Globalization theory emerged as the result of real world concerns with the dramatic transformations of globalization as well as a reaction against the earlier perspective of modernization theory. Globalization can be analyzed culturally, economically, and politically. Some cultural theorists see globalization as producing homogeneity as a consequence of cultural imperialism while others see it as producing distinctive local forms. It is the process completed in the twentieth century by which the capitalist world-system spreads across the actual globe. Since that world-system has maintained some of its main features over several centuries, globalization does not constitute a new phenomenon. At the turn of the twenty-first century, the capitalist world economy is in crisis; therefore, according to the theory's leading proponent, the current "ideological celebration of so-called globalization is in reality the swan song of our historical system" (I. Wallerstein, 1998: 32). Globalization has impacted strongly on the Coco Cola Company which is one of the largest Multinational Cooperation around the world today. The Coca-Cola logo is one of the world’s most recognised trademarks and an indicator of the extent of Coca-Cola’s penetration into communities across the world. It was created in Atlanta, Georgia by Dr. John S. Pemberton and is simply often referred to as Coke. It was first offered as a...
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...Using material from Item B and elsewhere, assess the view that the process of globalisation has led to changes in both the amount of crime and the types of crime committed Globalisation refers to the increasing interconnectedness of societies so that what happens in one locality is shaped by distant events in another and vice versa. For example, the availability of illegal drugs in any UK city and the amount of crime which occurs in order to sustain people’s drug habits depends on how effectively farmers in Columbia and Bolivia can grow illegal crops such as the coca plant and also how effectively global drugs trade gangs can traffic illegal drugs into UK towns and cities. Globalisation has many causes, such as by the spread of new information and media technologies especially the internet and satellite television, mass migration, mass tourism, cheap international air travel, cheaper transportation of goods across borders, containerisation and the increase in transnational organisations that produce and market their goods and brands in a global marketplace. The expansion of free trade (meaning that companies can manufacture and sell their goods in increasing numbers of countries without trade barriers) has led to the establishment of transnational corporations. Marxists such as Taylor (1999) argue that globalisation has led to an increase in crime rates in some UK towns and cities because transnational corporations (huge companies that do business in several countries)...
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...GLOBALISATION AND HIGHER EDUCATION DEVELOPMENT: A CRITICAL ANALYSIS RUI YANG Abstract – This article sets out to analyse critically the nature of globalisation and how it is affecting higher education. The author first reviews the nature of globalisation, and then examines its international impact on higher education development. He contends that globalisation is predominantly economic, and points out that global exchanges in the economic, cultural and educational domains continue to be unequal. At the same time, education is increasingly treated as a business. By exposing the negative side of globalisation and its effects on universities, the author aims to counter the uncritical acceptance of globalisation as a positive force for higher education and society as a whole. Zusammenfassung – Ziel dieses Artikels ist eine kritische Analyse der Natur der Globalisierung und ihrer Auswirkungen auf die höhere Bildung. Der Autor beginnt mit einem Rückblick auf die Eigenheiten der Globalisierung und untersucht dann ihren internationalen Einfluss auf die Entwicklung der höheren Bildung. Er behauptet, dass Globalisierung vorherrschend wirtschaftlicher Art sei und weist darauf hin, dass ein globaler Austausch in wirtschaftlicher, kultureller und erzieherischer Hinsicht ungleich bleibt. Gleichzeitig wird Bildung immer mehr als eine Art Geschäft behandelt. Indem der Autor die negative Seite der Globalisierung herausstellt sowie ihre Auswirkung auf die Universitäten, will er der unkritischen...
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...Business Competitiveness Management Competition on the market The main and the most important process on the market Competition is a combat between individuals, groups, nations, animals, etc. for territory or allocation of resources. It arises whenever two or more parties strive for a goal which cannot be shared. Competition occures among naturally living organisms which co-exist in the same environment. Business is associated with competition as most companies are in competition with at least one other firm over the same group of customers. The Latin root for the verb „to compete” is „competere”, which means „to seek together” or „to strive together” Competition is a process in which companies try to realise their aims, and try to offer better product or service using price, quality and other tools, which influence customers decisions whether to buy something or not. The success of one group is dependent on the failure of the other competing groups. The object of competition can be a product (or service) or resource. In the first case the companies compete beetwen one another about customer, whereas in the second case about resource and conditions of buying it. At the same time companies compete for customers and resources because in order to buy resources they should sell products and to generate the product they should buy resources. Very impotortant is who competes (subject). That is why competition can occur among: - Blocks of nations (unions)...
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... PESTLE, SWOT, 5 Forces, CVF – MUST have an explanation of what it is) The Organisation The industry – supermarkets, news, journals * Market Share – who controls the market * Current news? * PESTLE – table and a SUMMARY! * Competitors – 5 forces table + competitor table Organisation - Tesco * Background * Statistics * etc * SWOT Challenge * Define it * In relation to company Recommendations * CVF – where should Tesco be Conclusions TESCO AND GLOBALISATION This Essay would contain information on Tesco as an industry and organisation. It would also analyse Tesco using the four models; PESTLE, SWOT, Porter’s 5 forces and the competitive value framework (CVF). An in-depth look into the term globalisation, its advantage and importance as well a the global challenge Tesco is currently facing, its competitor and how they have reacted to globalisation and recommendations on how to handle their global challenge this paper would contain. Jack Cohen first formed Tesco. This happened in the year 1919 when he first opened up a stall in the East end of London. Tesco started out as a very small business and it did so on the platform of sole proprietorship however today, Tesco is one of the world's largest retailers with a clear, proven growth strategy. It has over 492,000 employees and about 5,300 stores across 14 markets Tesco has its headquarters in Chestnut, United Kingdom. It was...
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...assess the claim that we live in a ‘globalised world’. Use evidence to support your discussion.” When looking at globalisation we have to realise that it isn’t just one thing, the word globalisation isn’t just one meaning, it isn’t just an economic or cultural concept and it doesn’t just affect these, it also effects a lot of other relations. It can be anything from personal to structural things and this can affect us on many different levels, as well as economic and cultural there are also environmental concerns and effects on the globe which now need global solutions. This is essay is going to explore the aspects of globalisation and assess analytically and critically how we are now supposed to live in a “globalised word” and to what extent that it is actually true, using evidence and examples from sociological scholars and every day samples to support different idea’s which are for and against this notion. Globalisation means cultures and economics are now becoming more the same, more homogenous and throughout this essay this will be challenged on how this effects the world we live in not just in Britain but in all other countries too. Globalisation is involved with dissolving boarders and making them less strict and more flexible, this allowing us to have growing global connections, something which is called interconnectedness. We can now receive information from across the world almost instantly this giving exercise and organisation of power on a global scale, (See Held and...
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