...The Good Side of Globalization Christopher Schemers PHL/320 March 30,2015 John Preis Globalization in Business In the last twenty-five years, the world has seen a good side of globalization. For the last four of those twenty-five years, the business world has seen a bad side of globalization("Forbes.com", 2011). There is also an ugly side to globalization, and organizations hope and pray that they will never have to experience it. The ugly side of globalization being when nations and communities try to escape the brutal cycle of income and employment declines through coetaneous currency devaluations. Globalization is Good The Industrial Revolution began a rise of global inequalities causing a select amount of countries to experience a much rapider economic growth than the rest of the world. This growth gave a small handful of countries an advantage over the remainder of the business community, until the beginning of the globalization era("Worldbank.org/", 2014). Advances in transportation and telecommunications infrastructure, including the rise of the telegraph and its successor, the Internet. A phenomenon is now in effect, with some of the poorest countries having emerged and turned into global engines of growth. A globalized corporation offers a complex web of forces and elements that bring people, markets, and practices into an increasingly greater juxtaposition("Debate.org", 2015). The integration and interrelationships of indigenous and...
Words: 646 - Pages: 3
...Globalization Argumentative Paper Armando Montero PHL/320 5/16/2016 Todd Goodling Globalization Argumentative Paper Globalization is the tendency of businesses, technologies, or philosophies to spread throughout the world, or the process of making this happen. The global economy is sometimes referred to as a globality, characterized as a totally interconnected marketplace, unhampered by time zones or national boundaries. This term as based on business can be defined as; the process of extending to other parts of the world to develop an increasingly integrated global economy by using free trade, free flow of capital, and utilization of cheaper foreign labor markets. Globalization can be good for business because it can make operating in foreign markets more efficient. It is also beneficial because it raises a business’s profits in other parts of the world. (1, Premise) Businesses will be able to communicate more effectively and efficiently, if they are working in an open market. Globalization directly effects the administrative, economic, and geographical system that is in place with the nations in an effective way. Today’s business era is far more challenging and competitive, and although it is more difficult, globalization is still one of the most important components to the economic, administrative, and geographical sectors. It also provides effective business with the nations in an effective and...
Words: 922 - Pages: 4
...UNIT -1 GLOBALIZATION AND INTERNATIONAL BUSINESS Chapter 1: Globalization and International Business Prof. Madan Survase Globalization & International Business Learning Objectives To explain the concept of globalization To elucidate factors influencing globalization To discuss global business expansion strategy for emerging market companies To explicate the concept of international business To delineate motives for international business expansion To expound the strategy for managing business in the globalization era Globalization & International Business Chapter 1: Globalization and International Business Prof. Madan Survase Globalization of Business: A Historical Perspective In the initial years of human history, there were hardly any formal barriers, such as tariffs or non-tariff restrictions, for the movement of goods or visa requirements for the people. The concept of globalization can be traced back to the phenomenon of a nation-state. Globalization & International Business Chapter 1: Globalization and International Business Prof. Madan Survase Concept of Globalization The process of integration and convergence of economic, financial, cultural and political systems across the world. Globalization & International Business Chapter 1: Globalization and International Business Prof. Madan Survase Definition of Globalization Dictionary of Trade Policy Terms, WTO: “The increasing integration of national...
Words: 915 - Pages: 4
...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...
Words: 424 - Pages: 2
...Huczynski and Buchanan (2007) describe globalization as ‘the intensification of worldwide social and business relationships which links distant localities in such a way that local happenings are shaped by distant events, and vice versa’. As the above definition shows, globalization has impact on societies as well as on businesses. Many companies become global because of the globalization. This means that a global firm manages its business as one unit which spreads over the world (Varner & Beamer, 1995). Also, global organizations have centralised and strictly followed structure because they produce standardised goods and services for consumers (Edwards, Rollinson & Broadfield, 1998). Example of such organizations can be McDonalds, Microsoft, Philips, Shell, etc. The employees of these companies, which are all over the world, are dressed in the same way and perform the same procedures in order to make the products and serve the customers (Schneider & Barsoux, 1997). On the one hand, the globalization of companies is not good for small business. This is because people do not buy only the local products but the foreign ones. And if the local small businesses have not the resources to export their goods abroad, they will remain unsold so the business will die (Borkar, 2010). http://www.buzzle.com/articles/is-globalization-good-or-bad.html On the other hand, the globalization has a positive impact on firms. The free trade between nations increases which gives corporations...
Words: 772 - Pages: 4
...2014 International Business Nowadays international business and globalization became very popular and gained much more importance for each and every business company. Based on the quality research and the detailed analysis, this paper would come with the conclusion to show the advantages of globalization and also how globalization and international business can be a big factor in developing world’s economy. Term of globalization can represent and mean a lot of different things, but mainly globalization/international business are known for their flows of trade, finances and factors of production across the border, and transportation with effective communications set up. Globalization is responsible to make our world a “global village”. Globalization can develop strong international bonds not just between specific groups of countries but across a wide global network in which factors of production and also finished goods can move freely. The era of globalization in which we are living now came to existence not only because of Internet, but also because of changes in the institutional environment. Today globalization is a very popular and acceptable term. Globalization is a continuous and constant debate that society should face. The nature of globalization is somewhat specific and therefore understanding the meaning of it is crucial, so any praise or critics of globalization is purely justified. Many well-known economists were arguing globalization in a variety of ways. Giddens...
Words: 918 - Pages: 4
...Globalization in Business Donovan Chase PHL/320 12/22/2014 Bridget Peaco Globalization in Business Is globalization good or bad for your business? (1, premise) Globalization is viewed as either good or bad depending on your particular situation. For example, if you are an emerging growth industry, globalization represents a significant opportunity to access broader geographic markets, to accelerate growth and expand your business. (1, conclusion) However, if your business is an industry that has imploded due to the onslaught of global competition, or you have suffered a job loss due to downsizing or outsourcing you probably have a very negative view on globalization being good for business. Is Globalization “Good” Before we can decide what is good we need to have a definition of “good” as it relates to our topic. According to "Merriam Webster" (2014), Good is defined as something that is right or good. Something that has economic utility or satisfies an economic want. An example of good in the way we are defining it is the difference between good and bad. I personally feel that globalization is not good for the business of America. (2, premises) Globalization takes jobs away from people in the United States which raises the unemployment rate. (2, conclusion) Therefore, negatively impacting our economy. Workers can often be forced into accepting worsening...
Words: 800 - Pages: 4
...Globalization Argumentative Paper XXXXXXXX PHL/320 05/11/15 XXXXX Globalization Argumentative Paper The term globalization based on business ideas can be defined as the process of extending to other parts of the world to develop an increase in the integrated global economic system from utilizing cheap labor from foreign markets, free flow of capitol, and free trade. This can all be good for business in that it makes operating in foreign markets more efficient. The term good can be defined as having profit, advantage or benefit. Therefore, globalization is good for business in that it benefits the organization by increasing profit in other world markets. (1, Premise) When a business operates in an open market, they have the ability to communicate more efficiently and effectively with their customers and suppliers. By doing this, it allows businesses to manage their supplies, inventories, and their distribution networks. (1, Conclusion) Globalization allows businesses to have a better relationship in foreign countries by being able to market and sell their products using free trade and the free flow of capital. (2, Premise) Another advantage of globalizing a business is that the company can outsource products to other countries for them to produce. By outsourcing these products, it can be done at a cheaper price and still have the same quality. This will help boost the economy by adding additional jobs. (2, Conclusion) Globalization will benefit...
Words: 717 - Pages: 3
...Globalization in Business Denise Martin PHL/320 October 26, 2015 Jennifer Stephens Globalization in Business Globalization in business has so many benefits that I believe that, although it may have it’s bad side, it’s good sides make it a smart move for a business to make to stay competitive and grow in today’s economy. Saying that globalization for businesses is good I mean that there are so many positives for globalizations that it can be a major benefit for a business. The plus sides of globalization Globalization is, according to Businessdictionary.com (2015), “The worldwide movement toward economic, financial, trade, and communications integration.” (1, premise) Globalization is a way for businesses and companies to be able to expand their market from local to nationwide or even worldwide if they so desire. It opens the ways a company can communicate and the speed in which it can communicate with other businesses, clients or customer base. (2, premise) Another way that globalization is good for a company is that a company who uses globalization to advertise and “spread the word” of the services and products it offers can reach a larger number of people not only to grab them as customers, but, they can reach out to advertisement agencies and find different people with different ideas that they may feel will work much better for the way they would like to advertise. (1, conclusion)While there are downsides to globalization...
Words: 308 - Pages: 2
...THE IMPACT OF GLOBALIZATION ON INTERNATIONAL BUSINESS GROUP NO-01 FMG3231 INTERNATIONAL BUSINESS ECONOMICS FACULTY OF MANAGEMENT CONTENTS PAGE NO An introduction to international business 3 What is globalization? 6 The impact of globalization on international business 6 Future of international business and globalization 12 Summary 12 Reference 13 1. AN INTRODUCTION TO INTERNATIONAL BUSINESS International business involves all commercial transactions—private and governmental—between parties of two or more countries. Global events and competition affect almost all firms—large or small. However, the international environment is more complex and diverse than a firm’s domestic environment. An international business has many options for doing business, it includes, * Exporting goods and services. * Giving license to produce goods in the host country. * Starting a joint venture with a company. * Opening a branch for producing & distributing goods in the host country. * Providing managerial services to companies in the host country. Features of International Business Large scale operations: In international business, all the operations are conducted on a very huge scale. Production and marketing activities are conducted on a large scale. It first sells its goods in the local market. Then the surplus goods are exported. Integration of economies: International business integrates (combines)...
Words: 2743 - Pages: 11
...Advantages of Globalization: * Resources of different countries are used for producing goods and services they are able to do most efficiently. * Consumers to get much wider variety of products to choose from. * Consumers get the product they want at more competitive prices. * Companies are able to procure input goods and services required at most competitive prices. * Companies get access to much wider markets * It promotes understanding and goodwill among different countries. * Businesses and investors get much wider opportunities for investment. * Pooling of production of different areas can reduce adverse impact of fluctuations in agricultural productions in one area. Disadvantages of Globalization: * Developed countries can stifle development of undeveloped and under-developed countries. * Economic depression in one country can trigger adverse reaction across the globe. * It can increase spread of communicable diseases. Companies face much greater competition. This can put smaller companies, at a disadvantage, as they do not have resources to compete at global scale. According to Lewis Henry, business is a human activity directed towards producing or acquiring wealth through buying and selling of goods. Moreover, the term business means continuous production and distribution of goods and services with the aim of earning profits under uncertain market conditions. In my opinion the statement ‘the study...
Words: 756 - Pages: 4
...Globalization (Good or Bad) PHL/320 1/30/2016 Business Globalization is the tendency of business technologies, capitol, goods and services to spread throughout the world going beyond local and nationalistic boundaries. The practice generally accelerates profitability, and brand recognition while offering security from significant losses and expenses faced by similar entity’s in smaller business models. Although this sounds positive and beneficial; it does include unrestricted movement of labor and often may harm smaller or more fragile economies if applied universally. While I will focus on the impact globalization has on an organization from a business point of view, which is most often and very much a positive for the viability of a given business model; the crippling effect it has on standards of living, local economies, and job creation should not be forgotten. (1) There was a time being a local corner stone in business was “good”. At that time being a regional business was even better, and being a notional brand was just impressive; but in today’s world the ultimate goal is to be a global dominate brand. Globalization for business is “good”. The term “good” for the sake of this argumentative piece means it is advantageous and/or favorable economically to a business that is trying to grow, compete, and dominate in its space. It is also “good” for a business looking to find lower cost and/or obtain more diversified suppliers. As a business enters...
Words: 930 - Pages: 4
...Globalization is the process of integration arising from the interchange of views in the world, products ideas, and other aspects of culture Why globalization is good: Cheaper production costs and more consumers to sell to; this allows more business opportunities and availability of commodity to the consumer. Untapped markets, different services, investment opportunities. Globalization brings about growth in a countries business for some products are brought about by investors hence increasing the countries’ economy. New business solutions, new ideas are introduced to solve problems; this allows one to get solutions from the exchange of business ideas from other world countries. Why globalization is bad: It uses up finite resources more quickly example coal, oil, nuclear and gas-dependency on business resources that won’t last. Investors tend to invest in less developed countries so as to maximize their profits-the market goes to the country that the possession of the commodity. With the dollar being the world’s reserve currency, globalization can lead to huge US balance of trade deficit and other imbalances. Globalization can move taxation from corporations. Globalization sets up a currency with each country trying to get an export advantage by dropping the value of its currency- thus the prices of the export reducing due to increase in competition within the business market. Encourages dependence on surroundingcountries’ for essential goods and services- this...
Words: 460 - Pages: 2
...Benefits of Globalization Globalization is considered beneficial to the free trade movement among global markets. Globalization creates the opportunity for domestic businesses to compete internationally. It has the ability to tap into a massive potential customer base and still maintain low cost of goods and services. Globalization creates a demand for companies to be driven and motivated. This leads to the development of new products. By keeping companies competitively challenged, the drive among businesses around the world becomes more customer-orientated when developing new innovative products. Through globalization, businesses around the world are given the opportunity to positively impact their societies. One of the first benefits of globalization that should be considered is its massive potential customer base. According to the World Trade Organization, as of July 23, 2008 there are 153 countries participating in their global organization. The World Trade Organization is the only global organization dealing with the rules of trading between nations. Its goal is to aid producers of goods and services, exporters, and importers in conducting business within the global market. Also, text from scholastic book Understanding Business 9th Edition (page 62) states there are over 6.7 billion potential customers in the global market. At these numbers it would be nearly impossible for a business to enter into the global market and not find a customer base supportive...
Words: 737 - Pages: 3
...CHAPTER 1 GLOBALIZATION LEARNING OBJECTIVES: 1. Describe the process of globalization and how it affects markets and production. 2. Identify the two forces causing globalization to increase. 3. Summarize the evidence for each main argument in the globalization debate. 4. Identify the types of companies that participate in international business. 5. Describe the global business environment and identify its four main elements. CHAPTER OUTLINE: Introduction International Business Involves Us All Technology Makes It Happen The Global Relay Race Globalization Globalization of Markets Reduces Marketing Costs Creates New Market Opportunities Levels Uneven Income Streams Yet Local Needs Are Important Globalization of Production Access Lower-Cost Workers Access Technical Expertise Access Production Inputs Forces Driving Globalization Falling Barriers to Trade and Investment World Trade Organization Regional Trade Agreements Trade Agreements and Trade Growth Technological Innovation E-mail and Videoconferencing Internet and World Wide Web Company Intranets and Extranets Advancements in Transportation Technologies Measuring Globalization Untangling the Globalization Debate Today’s Globalization in Context The Current Globalization Backlash Leaving the Anarchists Behind Before We Go On Globalization’s Impact on Jobs and Wages Globalization Costs Jobs and Lowers Wages Eliminates Jobs in Developed Nations Forces Wages Lower in Developed Countries ...
Words: 2641 - Pages: 11
