...Globalization The numerous advances in technology haves resulted in the world becoming a much smaller place than ever before. The ability for goods and/or information to reach a destination anywhere on Earth in a relatively short period of time can be attributed to these technological advances. Additionally, there is increased trade and outsourcing among nations which basically results in these nations working like partners because they are working together in order to better their situation. Globalization has advantages as well as disadvantages. It is viewed as a cause for increasing problems and also as a way of balancing things with one another. Globalization is all around, can be seen everywhere, and effects everyone. Globalization is a continuous process through which different societies, economies, traditions, and cultures integrate with each other on a global scale. This is made possible through the various means of communication and the interchange of ideas. Globalization goes all the way back to the Silk Road. It ran across central Asia, connecting China and Europe. The Silk Road made it possible and easier for the exchange of goods between the two which would have been virtually impossible otherwise due to the great distance between them. (Mann) The extreme advances in technology, travel, and telecommunications over the past 30 years are responsible for the recent huge increase in globalization. The period from 1980 through the present is the most remarkable period...
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...Globalization When a business goes into the global market, there are both good and bad aspects that must be looked at. The decision to go global affects the business, the laborer, and the consumer all on different levels. Sometimes companies fail to realize this and as they are taking that step to go global, take a few falls as they proceed. The advantages of globalization for a business include the opportunity to gain a bigger market area, which will help to increase sales. They also have the opportunity to hire in other countries, bringing the labor expenses down and the capability for bigger production. With these two facts, a company’s bottom line can have a major change for the better. For the laborer in those countries, it brings in jobs and opportunities that would not be possible without globalization. It will help to stimulate their economy and also create a positive bond between the both countries. And for the consumer, the choices in products and services are made more vast them ever before. It gives them the opportunity to experience the products of other countries without having to actually visit them. The good example of this was the one of McDonalds opening in a different country and even though the weather wasn’t at its best, thousands still came out to have that taste of American Fast Food. For the consumer, there also is less price inflation because of products being made cheaper and companies being able to keep the rise of end costs not as steep...
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...What exactly is globalization? Simply put, Globalization means the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. Globalization has largely been made possible by advances in technology, particularly the Internet. As the world grows more connected, people in all nations achieve a far greater level of interdependence in activities such as trade, communications, travel, and political policy. It’s easy to assume that globalization is an entirely modern phenomenon driven by inventions like the telegraph or the Internet. In many ways, globalization has been taking place for centuries. From the Silk Road, which spanned from Europe all the way to East Asia, to the invention of steamships and railroads, humans have engaged in cultural exchange and international trade for centuries. In the 20th century, this international exchange and trade was made far easier by the invention of airlines and road vehicles. What was once a slow process, became a far simpler one in a very short period of time. In the late 20th century, the invention of digital communications tools like the Internet made modern globalization a reality. While globalization covers a wide range of topics, ranging from cultural values and information to economics and international trade, most modern discussion of the pros and cons of globalization is focused on economics and culture. There are advantages...
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...Globalization Argumentative Josh Knight Critical Thinking and Decision Making In Business/PHL320 May 4th, 2015 JOSE RODRIGUEZ Globalization Argumentative Many people would say that greed from large companies, as well as the exploitation of labor, can be associated with globalization. (1 Premise) However, many good things have come from globalization. A great example would be that of a global economy. A lot of Americans do not see the benefits or appreciate how efficient our markets are regarding supply and demand. The more efficient the market, they more growing it does. A global market that grows can have a domino effect on other markets associated with it and can encourage them to develop as well. The success of one market can be felt around the world. Globalization Benefits Globalization does many things that are hard to argue. (2 Premise) Creating jobs that are crucial for economic success, no matter the market. Along with creating jobs, globalization helps the better the infrastructures of communities, cities, and countries allowing people to live a better quality of life. Things associated with a better quality of life would be, better health care, medicine, clean water, foods and housing. What may seem like simple things to us, we often are taking them for granted. Creating a better bond between countries is also a direct result of globalization. Having a better relationships with other countries can create allies that can create economic...
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...DISCUSS THE ADVANTAGES AND DISADVANTAGES OF GLOBALIZATION The world as we know it has evolved over the years. From times when communities thought they were alone through periods when they depended on one another through trade to today when it is considered to be a global village. Over time the interdependent nature of countries across the world has gained prominence, hence the coinage of the term Globalization. Globalization is defined as the tendency for the world economy to work as one unit, led by large international companies doing business all over the world (Longman Business English Dictionary 2000). There has been many views concerning globalization. Whereas some people are of the opinion that it is good and are in favour of promoting and supporting it, others see globalization as detrimental to the world in general. This essays will discuss the advantages and disadvantages of globalization. The idea of globalization is an old one and can be traced back to the days when nations fought to create empires. The Babylonians and Romans through the conquest of weaker nations to formed huge empires thereby setting large single economies. These however did not extend to the global level as is happening now. As Ellwood (2001, p.21) noted, globalization is a new word which describes an old process: the integration of the global economy that began in earnest with the launch of the colonial era five centuries ago. The aim of colonization was to establish new sources of raw materials...
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...Faculty of Business and Accountancy, Graduate School of Business CSGB 6314 INTERNATIONAL BUSINESS MANAGEMENT SEMESTER 2, 2015/2016 ESSAY – Individual Assignment “Globalization brings more benefit than harm and should therefore be encouraged”. Discuss the statement. Submitted to: Prof. Dr. Mohd Nazari Ismail Prepared by: TAN WAN TENG, CGA150015 Date: 5th April 2016 TAN WAN TENG (CGA150015) CSGB 6314 International Business Management Globalization is not a new thing. Long time ago, people have been selling to and buying from each other places at far distances, for example, the Silk Road across Central Asia which was connected China and Europe during the Middle Ages. The globalization has been developing since 1980 and today it is easier for people and firms to communicate with other countries in the world. Globalization is the development of worldwide economy in which resources and products move fairly across national borders. It is also a process of integration among people, companies, and governments of different countries, which is usually driven by international trade, investment and supported by information technology. Both developing and developed countries are taking part actively in globalization process but both countries reacted differently in globalization. This process has the positive and negative effects on employment, culture, education and knowledge, market competition, economic, wealth and human physical well-being around the...
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...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...
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...kkkkkkkkkkkkkkkkkkkkkkkkkuuuuuuuuuuuuuuuuuugggggggggggggggggghhvvvvvvvvvvvvvvvvvvvv When a business goes into the global market, there are both good and bad aspects that must be looked at. The decision to go global affects the business, the laborer, and the consumer all on different levels. Sometimes companies fail to realize this and as they are taking that step to go global, take a few falls as they proceed. The advantages of globalization for a business include the opportunity to gain a bigger market area, which will help to increase sales. They also have the opportunity to hire in other countries, bringing the labor expenses down and the capability for bigger production. With these two facts, a company’s bottom line can have a major change for the better. For the laborer in those countries, it brings in jobs and opportunities that would not be possible without globalization. It will help to stimulate their economy and also create a positive bond between the both countries. And for the consumer, the choices in products and services are made more vast them ever before. It gives them the opportunity to experience the products of other countries without having to actually visit them. The good example of this was the one of McDonalds opening in a different country and even though the weather wasn’t at its best, thousands still came out to have that taste of American Fast Food. For the consumer, there also is less price inflation because of products being...
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...Globalization Argumentative Paper Danette Moore PHL/320 November 02, 2015 Walter Sienkiewicz Globalization Argumentative Paper The term globalization according to business definition can be described as the worldwide movement toward economic, financial, trade, and communications integration. It can also be used to imply the trade of goods, and services through the use of free transfer and an interconnected and interdependent world. (Business Dictionary, 2015) The Dalai Lama says that “the greatest modern evil is the destruction of native cultures.” Nothing is going to do this faster and more permanently than globalization. The term bad can be defined as having profit-loss, disadvantages or destructive consequences. Therefore, globalization is bad for business in that it depletes the environments natural resources, has led to labor exploitation, and job loss in developed countries. (1, Premise) Globalization has caused the individual to desire more additionally on an unparalleled, unwholesome and unmanageable scale, in such an overabundant amount that we are deteriorating natural resources to the point of not being able to recuperate from it. (1, Conclusion) Globalization takes away from the environments natural resources depleting the ozone layer through the likes of carbon monoxide production in factories and contributions to other pollutants in air and waterways globally. (Huwart, J.Y, Loic,V. 2013) (2, Premise) Another disadvantage of globalizing a business is that...
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...The distinguishing and integral feature of modern international business is globalization, which has a dramatic effect on domestic economies of all countries as well as the world market. Being a general term to describe the denationalization of markets and rising of the global economy, the process of globalization has obviously larger impact on the modern world than just unification of national markets into single international one. Globalization has an enormous influence upon all spheres of people’s lives, including economic, political and cultural spheres. The process of globalization has been always accompanied by the establishment of large international corporations, in which the level of production, consumption, export, import and income depends on the decision of international centers situated beyond the certain country’s borders. As any other process that takes in the world, globalization has certain advantages and disadvantages, thus, it has its followers and opponents. For some countries globalization offers multiple opportunities of economic growth and prosperity, however, the other ones are threatened by it, due to the economic inequality and political control it can cause. Developed and developing countries have different fears concerning globalization. While some developed countries anticipate the process of globalization, because it opens new low-cost markets of developing countries and creates new competitive environment, which might not be favorable for domestic...
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...Cultural Theory and Popular Culture Globalization, Mass Media and Culture Table of Contents Globalization, Mass Media and Culture 1 Table of Contents 2 Introduction 3 Modern culture, ideology 4 Globalization 5 Americanization 6 Mass Media and their Impact 7 Globalization, mass media and culture 8 Mass media and globalization 9 Globalization and culture 10 Conclusion 12 My opinion 13 Recommendations 14 List of references 15 Introduction A term globalization was used in 1983 for the first time in a history. Globalization as we know it today started at the beginning of the 20th century. It has an impact on everything and it has changed everything from its core. Economic environment, political environment and regarding to this subject – cultural environment. As everything, it brought both advantages and disadvantages. Looking back in time when this globalization started intensifies rapidly. It evokes a basic question: why did the globalization intensify rapidly? We can consider many reasons, for example lower travel cost, free movement of people, development of technologies, faster data exchange etc. These answers lead me to another possible answer - mass media. Globalization, Americanization or westernization are closely related to the popular culture. As stated in the book ‘There are two things we can say with some confidence about the United States and popular culture. First, as Andrew Ross (1989) has pointed out, ‘popular culture...
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...Is Globalization Good for Business? Angela Dye Critical Thinking and Decision Making in Business/PHL 320 11/16/2015 Mr. Mendoza Is Globalization Good for Business? Globalization is defined by Dictionary.com as, “the act of globalizing, or extending to other or all parts of the world” and “worldwide integration and development”. It is that, it is also much more than that. Globalization is inevitable, controversial, and has personally affected a multitude of people around the world. The Question So, is globalization good for business? First, let me define good. In this paper, when I use the word good, what I mean is: advantageous. Let us find our answer by exploring the effects it has had. Positive Effects The positive effects of globalization are numerous! (premise 1 conclusion 1) These include: lower production costs and more consumers to sell to, which equals more efficient markets and creates jobs. (premise 2 and conclusion 2) It has also improved the standard of living for many and provides mutual stability and security for countries and organizations that have partnered with each other. “(premise 3a)It allows the human race to push forward, which at this point we must recognize as a necessity of our species. (premise 3b and conclusion 3)Progress is written in our DNA, and globalization has allowed us to accomplish truly incredible things (the International Space Station being one of the most far-reaching).” (Gemma, 2014). Here’s...
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...Globalization Globalization is the distribution of industrial and service activities across an increasing number of nations across the globe. The world’s economies have become deeply integrated and interdependent on each other. As the article Global Trade, Identify the Losers from The Economist mentions, American companies such as Apple create jobs in the United States, but have also created jobs elsewhere. Job distribution is increasing overseas as there is a diverse pool of applicants with increased productivity, and many times at a fraction of the cost of American workers. Reduced barriers of trade have created many business opportunities for companies like Apple to take advantage of the knowledge and resources not only in the United States but worldwide. Technological advancements have allowed globalization to occur, especially with the internet physical proximity is no longer a barrier to trade, as the internet connects all aspects of the business in real time in one cyber setting. The article Global Trade, Identify the Losers is highlighting the fact that with globalization, companies like Apple have the choice to hire employees from other countries to support their products. Given that the majority of training and information can be transferred over the internet, it is not longer a requirement that the support staff be located in the United States. Additionally, the United States is a developed nation and therefore one of its best resources is knowledge....
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...Table of Content I. Introduction 3 II. Cultural diversity 3 II.1. Advantages of cultural diversity 4 II.2. Disadvantages of cultural diversity 5 III. Organizational Culture 5 IV. Management strategies to overcome issues related to cultural diversity 7 V. Globalization 8 VI. Conclusion 9 VII. References 11 I. Introduction Immigration plays a big role in today’s business world. Especially the hospitality and tourism industry is highly affected, as this industry offers a large number of unskilled positions that can easily be provided to immigrants (Hearns, Devine & Baum, 2007). The intention of these workers who go abroad is mainly the chance to earn higher wages in the chosen foreign country (D’Netto & Sohal, 1999). According to these facts the workforce, especially in the hospitality industry, is becoming more and more diverse which can lead to either advantages or disadvantages (Kandola & Fullerton, 1998; Gröschl & Doherty, 1999; Kreitner, 2004 in Hearns, Devine & Baum, 2007). In order to overcome issues and conflicts related to cultural diversity, key authors such as Gundling & Zanchettin (2007), Primer (2000), D’Netto & Sohal (1999) , Graf (2003) and Lund (2003) have pointed out the possibility to implement diversity management strategies that help employees with the adaptation process. II. Cultural diversity Culture is a term that has many definitions in academia; Hofstede (2001) introduces culture as “the collective programming of the mind that distinguishes...
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...Mashell Chapeyama Uopeople What ways has globalization not worked Globalization has not worked in a number of ways. One reason is how the rules evolved due to globalization. Most of the rules favour developed countries. They leave the poorer countries worse off. Globalization has increased a lot of imbalances. For example instead of funds moving from richer countries to poorer ones the reverse is true. A lot of resources are moving from poor countries to richer ones. There has also been an imbalance on investment in technology. Technology advanced in rich countries. In poorer off countries technology has lagged behind, meaning that richer countries would benefit. Debts of poor countries are a sign that globalization has failed to work. Poor countries get short term loans. The rich countries peg the moneys in hard currency such as GBP or USA$. So when countries accrued interest payable, it is too big if translated into domestic currencies. This means that poor countries get poorer, yet richer countries become even richer. What are the principal causes? The real causes of such imbalances and problems are many. One problem is that of ideas promulgated by IMF and World Bank, through their policies. They give policies that are “one size fit all type.” This means that some countries cannot afford those measures. One underlying issue is that economic globalization has fast-paced political globalization. Economic globalization requires countries to integrate and be interdependent...
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