...The world has experienced rapid globalization in the last few decades. Both developed and developing countries are increasingly participating in globalization and becoming part of the global village. The world economy has increased significantly and countries all over the world, whether developed or developing, have seen the size of their national economies grow. Even though globalization has been beneficial for the world economy, it has led to the emergence of certain problems in different parts of the world and in both developed and developing countries. Globalization has had a tremendous positive impact on poverty reduction. The increasing integration of developing countries to the world economy has led to a reduction in extreme poverty. According to the World Bank, 52 per cent of people living in developing countries lived in extreme poverty in 1981. By 2011, this has decreased to only 17 percent. Large developing countries like India and China experienced rapid decreases in extreme poverty. While China experienced rapid economic growth due to globalization, it lifted 680 million people out of extreme poverty between 1981 and 2001. The significant reduction in poverty in the developing world shows the beneficial effect of globalization on poverty reduction. Globalization opened up developing countries to the world economy. Developing countries experienced substantial inflow of foreign direct investment, technological inflow and the opportunity to serve a substantial customer...
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...when our parents were growing up. Many business leaders and companies are beginning to expand their business internationally or globally. The advances in technology, and with the use of internet, television shows and politics we see the mention of globalization everywhere. What in fact is globalization, and how has it affected the business world today? When it comes to doing business internationally or globally, there are many different factors that one must take into consideration such as language and culture barriers, negotiation of contracts and various laws concerning issues such as intellectual property rights. With all of these various factors why are companies still looking to expand internationally? How do business and companies survive with all the laws and other forces they have to contend with? This paper will discuss globalization, what it is, and what effect it has had on the business world today. It will also discuss how to overcome language and culture barriers, the various laws business owners and managers need to be aware of and how to negotiate a legal contract. Finally this paper will discuss my own ideas of marketing a professional organization business internationally, and how it would benefit the international market, along with my personal view of international expansion and how I feel faith and your business principles should be integrated together. How International Expansion has affected the Business world today Many companies want to become successful...
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...started globalization when the idea of relocating to different parts of the world looking for business opportunities emerged. Since then, globalization has been steadily but surely growing. Considering the age of advancement that the world is in now, globalization has increased rapidly. However, as much as globalization has increased in scale and speed, it has had a different impact on different economies around the world. However, before assessing the different impacts that globalization has had on the economy, one must first understand, in detail, what globalization is, in order comprehend the effect it has had on the global economy. For globalization to exist, a few aspects must be put in consideration. First and most important, a business-based environment has to exist in all countries to bring about investors from different regions. With this in mind, globalization during this age and time seem to have increased due to a proper communication channel that have been realized due to the rapid speed in which technology has changed. In many countries, globalization has affected the economy in different ways. While talking about the effects globalization has had on the economy of different countries, one has to look at both the positive and the negative effects. For instance, due to globalization, large organizations are able to invest their money in different countries around the world. This has led to job creations (Berch, 2005). This means that, through globalization, opportunities...
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...Abstract The following is a case study of Netflix, Inc. an American-based company that provides the streaming of online media to consumers in North America, South America, and parts of Europe. This case study will provide a brief overview of the company’s history along with four present-day challenges that the company will face as it tries to stay ahead of the competition. In its discussion of the present-day challenges that Netflix, Inc. faces the discussion will also relate the proposed challenges to the managerial challenges of globalization, diversity, and ethics. After each of the four anticipated challenges have been addressed then this paper will provide an analysis of the steps that Netflix, Inc. has already taken to keep the company on the frontline of online media streaming. This paper will also provide suggestions as to what can be done in order for Netflix, Inc. to become the number one competitor and innovator in the market. Keywords: Netflix, challenges, analysis Past to Present In 1997 Netflix, Inc. was founded in Scotts Valley, California by Reed Hastings and Marc Randolph initially offering weekly DVD rentals online. Within two years Netflix, Inc. transitioned from offering weekly rentals to offering a subscription service that allowed consumers to rent movies as frequently as they pleased for a monthly fee. In a matter of ten years Netflix, Inc. began to offer the online streaming of media for a subscription fee and ended the year with 7...
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...Strategic management and Globalization Robert Dutter BUS 260 - PRINCIPLES OF MANAGEMENT Dr. Batiste 09/17/2014 Strategy can be traced back to 500 BC in the Sun Tzu’s The Art of War. In fact until the 1940s, strategy was primarily used for the military. Leaders in the military have been using strategy to have an attacking strategy, and also with a counter offense for the purpose of defeating the enemy. The word strategy comes from the Greek word strategia and entered the English vocabulary in 1688 as strategie. Today strategy has been formed into five phases. These phases include the basic financial planning, the long-range planning, the strategic planning, the strategic management and the two complex systems, which include complex static systems and the complex dynamic systems. This is an on going system and changes every day like Globalization. Globalization refers to the quickening pace of international trade and the steadily increasing reliance of individual economics on each other. When companies use strategic management they have to keep in mind what globalization is and how it can help them with strategy. Globalization is the growth of trade and investment accompanied by the growth in international businesses, and the integration of economies around the world. Managers must know that markets, supplies, investors, locations, partners, and competitors can be anywhere in the world. Successful businesses managers will take advantage of opportunities...
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...Globalization According to Held and McGrew, ‘Globalization denotes the expanding scale, growing magnitude, speeding up, and deepening impact of interregional flows and patterns of social interactions’. It has been called upon to account for developments as diverse as the value of euro, world-wide popularity of ‘Harry Potter’, and the rise of Third Way politics and religious fundamentalism. The concept of ‘Globalization’ came to be used in the 1960s and early 1970s, which has been recognised as the ‘golden age’ of rapidly expanding political and economic interdependence – mostly between Western states. In this inter-dependent world, events abroad readily acquired impacts at home, while developments at home had consequences abroad. The world was fast becoming a shared social and economic space, at least for its most affluent inhabitants. Globalization has been variously conceived as ‘actions at distance’, whereby actions of social agents is one location have significant consequences for distance others; time-space compressions, where the way electronic communication erodes the constraints of time and distance; accelerated interdependence among countries; a shrinking world, with an erosion of boarders and geographical boundaries through socio-economic activity. The ‘flows and interactions’ of globalization are not confined to economic trade, capitals, and spread of MNCs. There is a growing emphasis on the need for broaden approach, including communication (internet)...
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...Champion? When we look at Globalization from a Human Resources Manager’s viewpoint we encounter many different interpretations and meanings. The world is growing “smaller” day by day and people are being brought together through technology. This growing concept of “globalization” that we see on the planet presents us with both challenges and benefits as a human race that we must learn to master. Human resources management is one of the key warriors that stands in the path for conquering and mastering globalization. Human Resources has championed Globalization in many different ways, we have seen great change implemented throughout organizations. Human Resources has done a great job with building talented employees’ “Global Mindsets” for the last few years, implementing Ex-pat programs and dealing with global mobility issues of senior managers has allowed for great development within organizations. We have also seen the Human Resources function in an organization develop a de-centralized approach to attacking the globalization concept. Recently more and more companies are allowing branches in foreign countries have more freedom in adjusting to local responsiveness. If we look at McDonalds for example, the firm has done a great job in understanding the local cultures of new markets they have moved into. In some parts of Europe McDonalds has been known as a bit more upscale/mid-range restaurant in order to adapt to cultural lifestyles of Europeans. Companies like this have proved...
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...Economic Impact of globalization in IndiaMultilateral agreements in trade, taking on such new agendas as environmental and social conditions. New multilateral agreements for services ,Intellectual properties, communications, and more binding on national governments than any previous agreements. Market economic policies spreading around the world, with greater privatization and liberalization than in earlier decades. Growing global markets in services. People can now execute trade services globally -- from medical advice to software writing to data processing , that could never really be traded before. Open Market policy -advantages Growing Indian Economy GDP – USD 1.36 trillion GDP growth rate – 9% Services contribution – 60-65% Balance of Trade – Negative balance should increase with surging imports versus exports Investment goal – USD 370 billion GDP – USD 1.16 trillion GDP growth rate – 9.5% Services contribution – 60% Balance of Trade – Negative balance should increase with surging imports versus exports Investment goal – USD 305 billion GDP – USD 590 billion GDP growth rate – 9% Services contribution – 54% Balance of Trade – USD (-)46.2 billion Investment goal – USD 250 billion 2010 2008 2006 105 105 135 145 167 103 125 204 231 287 682 191 237 398 453 0 200 400 600 800 1.000 1.200 1999-00 2002-03 2005-06 2006-07 2010* USD Billion Agriculture Industry Services Growing GDP Source: India...
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...Contribution and Limitation of Globalization “Globalization refers to a complex of interrelated processes, which have in common the idea that relationships and organizations have increasingly spread across the world, bringing about a growing awareness of the world as a whole” (Fulcher. J. and Scott. J., 2011). I. Contribution of Globalization A) Economic The essential dimension of globalization refers mainly to increase in international integration among trade and market all over the world is mentioned as economic globalization. “One who first commits himself to a theory of globalization is Marx. In so doing he identifies an economic dimension of the process” (Waters. M., 2001). The Idea of replacing national boundaries with global union especially in the case of economy was primarily supported by Marx and the other theorists of twentieth century who were struggling to make the big changes for the world’s future. It can be said that the process of globalization rose after industrial revolution (1757-1800) in Europe. Some examples of development and change from that time at which the process has been extended throughout the world so far are; “from farm to factory, division of labor increase, increase in child labor, new methods of administration, mass production and etc”. Nowadays, through the globalized situation, international trade and the achievement of the free market economy is increasing so that workers, consumers, and companies have the strong possibility to go...
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...The Globe Grows Smaller The world we live in today is continually growing smaller and people are more connected with each other more than ever before. This is contributed to globalization; which for our purposes is defined as the increasing speed and ease that capital, services, goods, technologies, people, information, cultures, and ideas cross borders at. This paper will be analysing the effects of globalization on many aspects of France. Historically, France has opposed globalization and this disdain started gaining ground during the early 1990s as Europe was becoming integrated. The French feared globalization because they wanted to preserve their own rich culture, and because they saw globalization as another form of americanization and wanted no part of that. An example of this would be in 1999 when “a forty-six-year-old sheep farmer named José Bové was arrested for dismantling the construction site of a new McDonald’s restaurant in the southern French town of Millau. He acted, he argued, in protest against U.S. retaliatory trade sanctions against European products (notably, French cheese) and the uncontrolled spread of free market globalization. By attacking McDonald’s, and getting himself photographed in handcuffs in the process, the publicity conscious Bové was striking out at the symbol of U.S.-inspired globalization, a perceived threat to French identity and culinary traditions” (Gordon, 1). José Bové tried to stand up against a global corporation who was eating away...
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...Management & Strategic Competitiveness Dr. Machuca 7/13/2014 Globalization is a concept that can be positive as well as negative as it refers to companies around the world and the effects it has on the global economy. Globalization can be referred to as a global movement that is integrating economic, financial, trade, and communications. Globalization will continue to be a force around the world because the global economy is continuing to be more dependent on each other. Even though globalization has been going on for centuries, there has been a new wave of policy and technological developments that have increased relations between trade and investment, and has led to a newer phase of global economic development ("What is globalization | Globalization101", n.d.). A positive outlook on globalization is the fact that there has been a reduction in the prices of goods and services throughout the world. It is reported that the volume of world trade has increased by 20 times, and the foreign investment between 1997 and 1999 has doubled from $468 billion to $827 billion ("What is globalization | Globalization101", n.d.). The negative aspect of globalization can be seen as a downfall for some companies that have not been keeping up with the demands of globalization and contributing to the some economies that are not the most stable because of unemployment and companies closing. Some can also argue that globalization has a negative impact because it benefits multinational corporations...
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...Globalization is the new buzzword that has come to dominate the world since the nineties of the last century and India also became a part of the process when we opened up our economy to the rest of the world in 1991. In early 1990s the Indian economy had witnessed dramatic policy changes. The idea behind the new economic model known as Liberalization, Privatization and Globalization in India (LPG), was to make the Indian economy one of the fastest growing economies in the world. Globalization has brought many jobs and large sums of investment to India. India 's economy has been growing at exceptional rates for the past several years and many new opportunities have opened up for India. Yet, India does remain quite poor. Globalization means to open up the market for everyone. It is related mainly with the business and economy. Globalization has converted the entire world into a global village. Investors are free to enter the market of any country without having any bondage. Some of the key points which can help us in knowing more about Globalization are: There is an International market for companies and for consumers there is a wider range of products to choose from and the increase in flow of investments from developed countries to developing countries, which can be used for economic reconstruction. It has put an end to the “Licence Raj” – a period during which companies produced substandard products with impunity and we general public had to be contended with these. For...
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...beverage business in the Americas. Our brands have been synonymous with refreshment, fun and flavor for generations, and our sales are poised to keep growing in the future.” This stamen is straightforward and informatively average. It establishes the company’s goal and core values. Also, it highlights DPS’ interest in future sales growth. The company includes its business strategy stating that it focuses on building and enhancing leading brands, pursuing profitable channels, packages and categories, leveraging an integrated business model, strengthening routes to markets, and improving operating efficiency (Dr. Pepper Snapple Group). External Analysis Government policies and regulations affect business development and growth. Products have to be consistent with the USDA’s dietary guidelines and adhere to the FDA’s standards for health claims. Due to the current post-recession economy, growth is expected to be slow since existing demand patterns are expected to change as consumers become more health conscious. Moreover, global awareness and concern regarding the impact of climate change continues to be a focal point as business seek to achieve better business in terms of reduced cost and risk while achieving positive impact on the world around them. Also, an important trend in the macro environment is globalization. With the growing use of electronic technological innovations, global communication is rapidly increasing. This allows firms to collaborate within the country market...
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...Business 4. Discuss the forces that are leading international firms to globalization of their sourcing, production, and marketing. (a) Political forces has lead to increasing trend toward multilateralism (in which the United Nations plays a key role) and toward the emergence of national and international nongovernmental organizations that act as watchdogs over governments and have increased their activities and influence. Political forces are also setting a trend towards unification and socialization of the global economy (Moghadam, 2010). (b) Technological forces play a fundamental part in making globalization possible. Without airplanes, telephones, satellites, computers and televisions it would not be possible to transfer information from one place to another, thus allowing for the speed and the intensity which characterize the modern world. These technological advances give rise to a rate of diffusion and transfer of knowledge which is greatly superior to that of the past. In other words, it was the new technologies that allowed the emergence of the “global village”. (c) Market forces combines the promotion and selling of goods and services with an increasingly interdependent and integrated global economy. It makes companies feel if they are without walls with the Internet an integral marketing and cultural tool. Understanding consumer needs within target countries helps formerly local companies build a global marketing mix where product, price, place and promotion that...
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...Introduction Globalization can be defined in many ways. Globalization is when people come together to find a solution for better financial and business activities. The rapid changes happening in a country due to trade foreign or non- foreign can also be referred to as globalization. This word has been there since the 19th century. Globalization has enabled creation of new opportunities for the developing countries. It has also brought about problems like the unequal growing rate all over the world in the market and environmental development. Most developing countries are out of the globalization process. If we look at India as a country, the globalization process was prevented due to many factors. India was known to have the world’s largest economy. This means that globalization was not new to them and Indian products were being exported to other countries outside India. Impact of globalization in India In the 19th century India had already opened up to economy. But it experienced a downfall in their economy so badly almost turning to loans to save them. New policies were created to enable a more open market economy. Certain things in the early nineties were introduced due to globalization. They included introduction of privatization program, number of public sectors that were reserved reduced, practice of restrictive trades was altered and exchange rates were determined by falling in the rate of tariffs. Regular liberation has been experienced over the years. Many new sectors...
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