...Globalization Globalization of Markets: * One huge global marketplace * Less trade barriers * Global norm (taste and preference) * Same basic products Globalization of Production: * Sourcing of goods in different part of the world (Lower cost, Better quality) Global institutions: * Help manage, regulate, and police the global marketplace * Promote the establishment of multinational treaties to govern the global business system * Example: * World Trade Organization (Regulate the world trading system, lower barriers to trade and investment) * International Monetary Fund (Maintain order in the international monetary system, lend money of last resort to countries in crisis) * World Bank (promotes economic development via low interest loans for infrastructure projects) * G20 (Forum with major countries to respond to crisis) * United nations (Maintain international peace and security, develop friendly relations among nations, promote respect for human rights) Drives of Globalizations: * Decline barriers to free flow of goods, services and capital * Tariff around 4%, more favorable environment for FDI, facilitate global production * Technological change * Internet, transportation technology, microprocessors and telecommunications * Allow to lower cost * Changing demographics of global economy * The changing world output and world trade picture * Developed countries...
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...What You Should Know About Globalization and the World Trade Organization Case Analysis Alan V. Deardorff and Robert M. Stern If you look at the tag on your shirt, chances are you would see that it was made in a country other than the one in which you sit right now. What's more, before it reached your wardrobe, this shirt could have very well been made with Chinese cotton sewed by Thai hands, shipped across the Pacific on a French freighter crewed by Spaniards to a Los Angeles harbor. This international exchange is just one example of globalization, a process that has everything to do with geography. Globalization is the process of increased interconnectedness among countries most notably in the areas of economics, politics, and culture. McDonalds in Japan, French films being played in Minneapolis, and the United Nations, are all representations of globalization. In years past, people across the globe did not have the ability to communicate and could not interact without difficulty. Nowadays, a phone, instant message, fax, or video conference call can easily be used to connect people. Additionally, anyone with the funds can book a plane flight and show up half way across the world in a matter of hours. In short, the "friction of distance" is lessened, and the world begins to metaphorically shrink. A general increase in awareness, opportunity, and transportation technology has allowed for people to move about the world in search of a new home, a new job, or to...
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...World, Do you believe that globalization brings more positive benefits or more negative consequences to the world? Do you believe that the negative consequences could be controlled? Why or why not? What do you think should be done? In my opinion, we are at the beginning stage of the globalization process; and the process itself might be well compared to the industrial revolution in its complexity, and the degree of the impact it inflicts on the societies and cultures. We well remember from our history lessons what the Industrial Revolution has done to the people of 18th, and 19th Century Americas and the Europe. In the end a great society had been built, but the price of it was rather high. Armesto, F.F. (2008) The World a Brief History. “Industrialization uprooted lives, disrupted families, and imposed bleak working conditions in cities rife with filth and disease. Visiting the British city of Manchester in 1835 , Alexis de Tocqueville, considered the greatest social analyst of his time, recoiled from factories that keep air and light out of human habitations which they dominate; they envelop them in perpetual fog here is the slave , there is the master; there is the wealth to some here the poverty of most.” Yet she wrote, “From this filthy sewer, pure gold flows.” Alexis de Tocqueville words still apply to the majority of the world’s population; since the majority lives in a perpetual poverty; poverty even greater, from the time when the globalization process picked...
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...The term ‘globalisation’ refers to the development of the world which has become increasingly unified in aspects such as economies, societies, and cultures as a result of the international trade, communication, immigration and transportation (Financial Times n.d.). According to Moore (2003), globalisation is not a new phenomenon, it has started since long before the Britain ruled the waves. Globalisation was focused on the economic section in the past, however, it has recently broadened to a larger range of areas such as culture, media, technology, socio-cultural, political, and biological factors (Financial Times n.d.). Since the past, trading of goods and services, knowledge and cultures have already existed, but the refined technologies at present have increased the exchange speed much faster than ever (Global Education n.d.). This global process has brought some enormous effects economically, socially and politically both between and within nations. There has been much debate in recent times about that globalisation causes only an increase in economic inequalities, however, this essay will demonstrate that globalisation also creates positive and beneficial consequences both between and within nations. Firstly, globalisation creates greater free trade. Free trade is defined as a structure of transaction among countries where no exclusive tax is charged on imported goods (Merriam-Webster n.d.). According to the World Trade Organization (n.d.), free trade empowers economic...
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...List of Contents 1. Background 3 2. Globalization Problems 4 3. Types of Globalization 5 3.1 Economical globalization 5 3.2 Political globalization 5 3.3 Social globalization 5 3.4 Cultural globalization 5 4. Pro or against globalization? 6 4.1 Advantages of globalization 6 4.2 Disadvantages of globalization 6 4.3 Institutes 6 5. Conclusion 7 6. Sources 7 1. Background Globalization is simply becoming world-wide or making it world-wide. It exists at a lot of places in different sizes. Globalization is to create a good world economy. This could be done by big multinational companies. The reason why I mention the multinationals is because of the influence that they (can) have on the economy worldwide. After all, the world trade plays the biggest part in it. However globalization and the free world trade don’t automatically mean that the well-being is divided all over the world. But where did it start? Who started it and why is it so important for the well being of the world? Well, the globalization existed during different levels/steps. People/companies with power from the past created our current globalize civilization. The first level was when the South conquered the North and applying economical structures. Consequences were the slavery. The second level was the colonization. The North plundered the South, recreated maps and set up one religion and forced their language to be the official language. The third level...
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...Globalization Worksheet 1 Globalization and You p. 1 Worksheet 1 Globalization and You Students study the Powerpoint file on “Globalization and You”, and then answer the questions below. Brand names 1. Do you know what 2. Have you ever 3. Where did you kind of products used these use such or services the products or products/services brand names services? If yes, ? provide? how many products or services have you used? Please give a in the boxes below. Disney Theme parks, movies, stationery, etc. Amazon Book purchase, etc. Microsoft Software, etc. McDonald’s Food, drinks, toys, etc. Going on the Internet, Yahoo searching for information, etc. Intel Computers, etc. Globalization Worksheet 1 Globalization and You p. 2 Brand names 1. Do you know what kind of products or services the brand names provide? 2. Have you ever used these products or services? If yes, how many products or services have you used? Please give a in the boxes below. 3. Where did you use such products/services ? Sony Stereos, T.V., computers, etc. HSBC Banking services, etc. CNN News information, etc. Coca Cola Drinks, products with company logos, etc. Nokia Mobile phones, etc. Nike Sports goods, sneakers, sports wear, etc. Levi’s Jeans, etc. Globalization Worksheet 1 Globalization and You p. 3 Brand names 1. Do you know what kind of products or services the brand...
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...The Effectiveness of Globalization If you look at the tag on the back of your shirt, chances are you would see that it was made in a country other than the one you are living in right now. Have you ever eaten a happy meal when you were a child? Or received a stuffed animal as a birthday gift? What do you remember the bottom of all the toys or tags? Most likely they said that they were made in China! This international exchange is just a few examples of globalization. Globalization is far from being a new phenomenon in our country as well as countries around the globe. The term globalization can be defined in many different ways, but when used in an economic context as of which will be discussed in this paper, it refers to the reduction of barriers between national borders in order to progress the flow of goods, services and labor. Many of our countries leaders have tried to enhance globalization through the use of treaties, alliances, and peace agreements between nations. For example, President Barack Obama has recently made efforts to reach out to the Arab and Muslim world in attempts to settle overseas disputes. When thinking about all of these issues, asking and then answering the following questions will hopefully address and explain the effectiveness of globalization. Why is globalization important you may ask? Why do I support globalization? What are some effects of globalization? I believe that Globalization is important, because our world is constantly changing...
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...MGMT 422 – Management Concepts Term Paper Dr. Rogers Group: Globalization By: Troy Tolson Jr Romel Reaves Hector Gray Demonte Alston Globalization Globalization is the process of increased interconnectedness among countries most notably in the areas of economics, politics, and culture. Put in simpler words, globalization is growth on a global scale. A more common example of globalization is the fast food industry; sweeping across our nation especially, fast food, which has quickly become one of the richest corporations in the world. From first-hand experience, one can prove that through the years eating out, or eating on the go, has become far more common amongst American citizens as well as those in neighboring countries. The strength of need, or global demand for a product or service plays a major role in its global distribution. There is no exact date when globalization was said to have started but most studies claim it started around the 19th century. Although there is no set date, the history of globalization can be broken down into three waves or periods. The first wave began in 1870 and ended at the beginning of World War 1 in 1914. It was characterized by a decrease in trade barriers and an advancement in transportation technologies. This resulted in a major migration of about 10% of the world’s population. The second wave occurred from 1950 to 1980 during which multiple trade agreements occurred between developed nations,...
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...Introduction 2.0 Definition of Globalization in Supply Chain Management 3.0 Advantages of Globalization in Supply Chain Management 3.1 Reduced Cycle Time 3.2 Cost Competitive 3.3 Increase Sales, Profits 3.4 New Markets 3.5 Satisfy Shareholders 3.6 Learn From Others 4.0 Disadvantages of Globalization in Supply Chain Management 4.1 Inefficient and Undersized Transportation and Distribution Systems 4.2 Market Instability 5.0 Conclusion 6.0 References 1.0 Introduction Today’s business environment characterized is by faster technological development, shorter product life cycle, and more intense global competition. Having the right product available in the right place, at the right time, enable the company to compete in this volatile market place. This environment forces companies to actively acquire new way to achieve competitive advantage since a firm competitive advantage is now more dependent on operating efficiency and productivity across functional areas of the organization. Companies are going truly globalization in Supply Chain Management. A change in the way of serving and providing customer needs and wants emerge as a result of economy globalization. The role of manufacturing companies has changed from supplying domestic market to supply international market carried out in business network on supply chain. A company can develop a product in Singapore, manufacture in China and its customers throughout the world with globalization in Supply Chain Management...
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...Module 1. How do you feel Globalization has shaped your own community? Globalization today is the leading concept in America. Everywhere you go is globalization, it is the key dominant challenge in most communities of the twenty first century. Globalization has meant that with the emergence of a well-integrated global market, national and local policy makers are increasingly being controlled with dramatic implications for the economic stability and viability of communities in industrialized and developing nations. To understand fully what globalization is and how it is changing our communities, we need to explore everything surrounding it such global free market, capitalism, motivations of multi or transnational corporations and the convergence of global markets. Then we will understand the growing in equalities between the rich and the poor, and this is a major thing in all communities. From a community viewpoint the definition of globalization is the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa. Globalization has shaped my community both positively and negatively. In this era, there is no state that has benefited more or suffered less than New York. The impact of globalization has forever changed the way we do business. Most of the area has turned globalization into an asset, but there is a few regions that has suffered unfortunately. The...
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...Introduction In first look, Globalization, internet & entrepreneurship have a weak relation with each other. But if you observe more precision, you can find many relation between them. For example Globalization accelerates the change of technology. Every day it seems that a new technological innovation is being created. The pace of change occurs so rapidly many people are always playing catch up, trying to purchase or update their new devices. Technology is now the forefront of the modern world creating new jobs, innovations, and networking sites to allow individuals to connect globally. All of Globalization, internet & entrepreneurship terms are very popular nowadays but many people don’t know the real meaning of them and the relationship between them. In this article we try to clear the relations. First of all, we have to define the terms. Globalization The most important term in this subject is globalization. Globalization is only a description, describing the state humanity is in right now. It is not simply an economical term, it affects our whole life. It means that we are all interconnected, and physically we are like individual cells of the same body. It is a state we arrived through our evolution, and it is a state we cannot escape. Globalization doesn’t have a clear & brief definition but according to business dictionary globalization means “The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local...
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...Globalization Benefits Careers Introduction Nowadays with the developing of technology, people become more and more closely. The activity of people work together in different country is a globalization. Globalization refers to the trend toward countries joining together economically, through education, society and politics, and viewing themselves not only through their national identity but also as part of the world as a whole. Globalization is said to bring people of all nations closer together, especially through a common medium like the economy or the Internet. it is core opinion is make people live as one city. In our world, there are few places a person can’t get to within a day of travel, and few people a person can’t reach via telephone or Internet. Because of modern modes of travel and communication, citizens of a nation are more conscious of the world at large and may be influenced by other cultures in a variety of ways. Time and space matter less, and even language barriers are being overcome as people all over the world communicate through trade, social Internet forums, various media sources, and a variety of other ways. The reason why our world becomes a globalization is that natural resource as the basic elements of the development pattern is shortage and ecological destruction. So human beings in order to maintain their own survival, they seek global cooperation. People want to get more resource to get more profit from other country and they change their...
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...Pros and Cons of Globalization Dianna L. James MBA607 November 22, 2014 Jeff Knott, Instructor Abstract Within this writing, we had to research the pros and cons of globalization. However, one needs to know the definition of globalization. Globalization is a process in which we trade with other countries in the stock market or imports/exports of goods and services. However, globalization is not as easy as saying the word, there are many issues that are important to know, one is the laws of any given country. Korea is a good example where they have non-flexible laws that a business that wish to produce their good though their country they need to be abided by in all sense of the word. When visiting the country you need to be well aware of the culture differences and conform to the culture of the country you are visiting. There is one basic question associated with the pros and cons that needs to be answered. “How can firms and governments help to reduce the amount of resistance that might result from its implementation” (From instructions for week one assignment)? Key Words: Trading, Country, Laws, Pros, and Cons, Globalization Pros and Cons of Globalization Within this writing, we had to research the pros and cons of globalization. However, one needs to know the definition of globalization. Globalization is a process in which we trade with other countries in the stock market or imports/exports of goods and services. However, globalization is not as easy...
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...Globalization Argumentative Paper Rashyeda Lewis PHL/320 Dwayne Gipson Globalization is a topic that I was not to certain of but after doing so research I know understand that the term globalization is a process of interaction and integration among the people, companies and governments of different nations. This process is driven by trade and investment and aided by information and technology. Globalization will affect and impact any business and how it is run. There are many different types of globalization and every area affects the business in a different. The argument is whether or not globalization is good or bad for a business. 1, Premise – I believe that globalization is good for any business as it relates to market globalization. Market globalization makes it easier for companies to sell products internationally. This is good for business because it allows for expansion in multiple areas of the business and established proven growth in the company. A company that is able to show that they are larger than the local department store that displays volume for the said company. 1, Conclusion - Market globalization is a large key to company growth and expansion. 2, Premise – A second reason that globalization is good for any business is as it relates to Production globalization. Production globalization is the sourcing of materials and services from other companies to gain advantage from price difference in different nations. This simply means that a...
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...NDU Economic Globalization By : Elias Barakat Instructor : Dr Queen Salame Outline : 1- Introduction , Page 3 2- The effects of economic globalization on developing countries , Page 4 3- Advantages and disadvantages of economic globalization , Page 6 4- History of Globalization , Page 9 5 - Factors Contributing to the Rise of Globalisation in the Early 1980s , Page 11 6- Conclusion , Page 14 Index , Page 14 Introduction: Economic globalization is a worldwide phenomenon wherein countries’ economic situations can depend significantly on other countries. Many allied countries would supply resources to each other that the other countries do not have. These resources can cover imported products, technology, and even human labor. Many people have observed that this phenomenon may lead to a “one-world government,” which consists of a centralized government for all nations. The nature of globalization and global economic change has been a subject of immense academic research during the past two decades. It is more a phenomenon in need of explanations than a universal cause of empirically observable outcomes in the so-called globalization theory.1* 1*Check references page The effects of economic globalization on developing countries 1- Increased Standard of Living : Economic globalization gives governments of developing nations access to foreign lending. When these funds are used on infrastructure including roads, health care, education, and social services...
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