...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...
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...a war against each other since each got its McDonald's.” This quote of Thomas L. Friedman, a well-known US-American foreign affairs and globalization expert, shows two of the main results of globalization: Companies that are becoming more international and a world in which the countries start cooperating more and more instead of fighting wars. People start in-teracting borderlessly and politicians and newspapers mention the “world community.” There are mainly three forces that are contributing to the process of globalization: the liberalization of capital movements, the opening of global markets to trade and invest-ment, and the increasing use of information and communication technologies. If you want to define globalization you have to emphasize that Globalization is a multi-dimensional phenomenon that not only touches political, economic, social and cultural spheres of any society but also reshapes the traditional way of studying the “social world and human nature” first. At political and economic level, globalization is the process of denationalization of markets, politics and legal systems, it is the rise of global economy. Good examples for this development are e.g. the European Union or the negotiations of the European Union with the United States to create the biggest trade zone of the world. At the business level, globalization is when companies decide to take part in the emerging global economy and establish themselves in other countries’ mar-kets. They adapt their...
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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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...Globalization is the process by which markets integrate worldwide. Globalization has advantages and its disadvantages. Two years ago, U.S. GDP was growing at a healthy 3.6 percent clip and world GDP growth was somewhat higher, led by China and India. However, over the past couple of quarters, world GDP growth has turned more sluggish, affecting even India and China, while the U.S. economy has significantly slowed and looks like it's going to slow further. Some may argue that buying cheaper products for Americans to buy is an advantage. That is due to the cheap labor that makes the product. The American workforce will have to compete with foreign workforces who are willing to work for less. By relocating some parts of international supply chains, globalization has been affecting the price of goods, job patterns, and wages almost everywhere. Over the past two years, unemployment inside the United States has risen from 4.6 to 6.1 percent. It is changing the structure of individual economies in ways that affect different groups within those countries differently. In the advanced economies, it is redistributing employment opportunities. As the richer get richer by investing in companies overseas, the poor get poorer, leading to financial problems. Countries like Mexico, Thailand, Indonesia or Brazil got a lot of money from investors who built up new businesses there. Building products overseas globally puts our business technologies at risk of being copied or stolen, which...
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...CHAPTER 16 WORKING CAPITAL POLICY AND SHORT-TERM FINANCING ANSWERS TO QUESTIONS: 1. The need for working capital arises because the normal operating cycle of the firm requires that expenditures for raw materials, labor, etc. be made prior to receipt of the funds from the sale of the output. Funds must be invested during the operating cycle in the various short-term assets that make up working capital--namely, cash, inventories, and accounts receivable. 2. The operating cycle represents the length of time involved in purchasing raw materials, manufacturing the product, and distributing (selling) the product. The cash conversion cycle represents the net time interval between the collection of cash receipts from sales and the cash payments for the various resources used by the firm. The operating cycle is equal to the sum of the inventory conversion period and the receivables conversion period. The cash conversion cycle is equal to the operating cycle less the payables deferral period. 3. A relatively large investment in working capital results in lower expected profitability and lower risk for the firm. The rate of return on current assets is normally less than the rate of return on fixed assets and hence a relatively large investment in current assets lowers the overall rate of return on the total assets of the firm. However, a relatively large investment in current assets also increases the working capital position of the firm...
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...or REGISTER NOW! Bottom of Form |Essay Forum / Writing Feedback / | | | | | 'The Advantages and Disadvantages of Globalization' Top of Form syahid Apr 9, 2010, 10:03am #1 Even though globalization affects world's economies in a positive ways, its negative side should not be forgotten. Discuss. Globalization has contributed a lot to the world today. It boosts countries economies, advance technologies and improve daily life of the people. But in the meantime whether it is a blessing or a curse has sparked much debate. This is because the benefit of globalization always come with the drawbacks. For me, the advantages of the globalization are outweigh its disadvantages. Convincing argument can be made that globalization has led to advancement in technologies. This advancement has built the new world without boundaries. So, the communication can be made with any other parts of the world through technologies such as internet and telephone. Hence, ideas exchange can be done among intellectuals,journalists, scientists or ordinary people. As a result, the best ideas will be spread all over the world which led to enhance the world achievements. However, there are some disadvantages of the globalization. The absence of boundaries of the world through technologies could create harmful to the people. To illustrate, the access to the bad website in internet such as drugs and pornography...
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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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...Ir and globalization CONENT: Introduction Body 1. What is Globalization and how it is related with the International Relations; 2. Advantages and Disadvantages of the Globalization; 3. Effectiveness of the Globalization Conclusion NTRODUCTION In my work I talk about the Globalization and its relation with the Globalization where I dwelled upon the Globalization. In the second part I did survey and focused on the advantages and disadvantages of globalization as the statistics show.After hammering out the two factors I wrote about de facto effectiveness of the Globalization and at the end I stated my estimation and conclusion. International Relation and Globalization As more nations, people, and cultures adapt to the ever changing international community, diplomats, politicians, and representatives must meet and deal with accordingly to the needs and wants of nations. Diplomacy can be exerted in many forms; through peace talks, written constitutions, field experiences, etc. Culture is a familiar term and remains unchanged by definition. However, globalization and international relations have constantly altered culture both positively and negatively. Globalization increases worldwide technology, and the readability of fast, effective communication and consumption of popular products. Globalization links cultures and international relations on a variety of levels; economics, politically, socially, etc. International relations have used globalization to reach its goal: of understanding...
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...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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...development of Internet, transportation and closer relationship between countries, nowadays we heard of “globalization” more frequently in the daily life. Different countries and the people from different places have more connection and communication with each other than before. This is a human social phenomenon. In this big world stage, more relation not only means more opportunities, but also more competition. To research the advantages and disadvantages of globalization can help to catch the chance and avoid the risk and maintain a momentum of healthy development. I will briefly talk about what is globalization and its effects to different areas at the beginning. Furthermore, the advantages and disadvantages will be presented to show how these factors influence the developed and developing country respectively. II. What is globalization? The globalization is just a concept which generally means an increase of global connections, the human life based on the global scale and an increase of global consciousness. The politics and economic trade rely on each other. The globalization can be recognized as the integration of the world. Actually, Globalization is not a new phenomenon, which not happened in recent years. In ancient time, China exported tea and silk to Europe. That the west Europe started colonial times can be considered as the beginning of the globalization. It began at the end of the nineteenth century, but it slowed down during the period from the start of the...
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...Globalization impact on the world Globalization has many advantages to the world economy and it also has advanced the world’s culture, like everything that has a positive sides it also has its own disadvantages, here are some advantages and disadvantages of globalization. Many people don’t really appreciate how efficient the world market is by efficiency I mean the supply and demand. The increase of supplies and demands allows the economies to grow and flourish and when a specific economy grow it helps other economies to grow too. In this way the economies across the globe benefits from this. And this is a result of an ecumenical globalization which is an absolute advantage. When a countries economy grows it competes with other countries which means in many cases countries would ignore the environmental dangers that comes along with an economy growth. To supply an economy growth more energy is needed like fuel for example which has a devastating impact on the environment because it emits Co2, trees are bulldozed down and replaced with factories which even produces more pollution. In time this would lead to global warming and possible irreversible damage to our environment. Countries around the world and especially the developed countries should come up with new rules and regulations to reduce the environmental risks due to globalization. In conclusion, globalization had its advantages but comes along with disadvantages as well, if countries come up with better ways to...
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...the Responses to the Definitions of Globalization by persons Fig 3. Showing whether Technology has a relationship with Globalization by persons’ Responses With respect to question number 3, Persons’ thoughts of whether Globalization is Important: All thirty- two (32) persons replied with – Yes No persons replied with – No Reasonability of Technology Technology as the Most Reasonable way to contribute to Globalization | Quantitative Response of Persons | Yes | 20 | No | 12 | Table 1. Showing the response of persons in terms of whether Technology is the Most Reasonable way to contribute to Globalization With respect to question number 5, Persons’ thoughts of whether a Country/ State should strive for Globalization if they could afford it: All thirty- two (32) persons replied with – Yes No persons replied with – No Ways in which Technology can contribute to Sectors of Society | Quantitative Response of Persons | Transport | 0 | Agriculture | 0 | Health | 0 | Infrastructure | 0 | All | 30 | Agriculture, Health & Infrastructure | 1 | Health & Infrastructure | 1 | Impact of Technology Table 2. Showing the response of persons in terms of Ways in which Technology can contribute to Sectors of Society Fig 4. Showing the Responses to the Advantages of Globalization by persons Ways in which Globalization can be a Disadvantage | Quantitative Response of Persons | ...
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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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...Chapter 1 Globalization and the Multinational Enterprise ( Questions 1-1. Globalization and the MNE. The term globalization has become very widely used in recent years. How would you define it? Narayana Murthy’s quote is a good place to start any discussion of globalization: “I define globalization as producing where it is most cost-effective, selling where it is most profitable, and sourcing capital where it is cheapest, without worrying about national boundaries.” Narayana Murthy, President and CEO, Infosys 1-2. Globalization and Value Creation. What does an MNE need in order for it to create value through the globalization process? Global business, like any business, is the social science of managing people to organize, maintain, and grow the collective productivity toward accomplishing productive goals, typically to generate profit and value for its owners and stakeholders. A multinational enterprise (MNE) needs three fundamental elements in order to build firm value: (1) an open marketplace; (2) high quality strategic management; and (3) access to capital. 1-3. Value Creation and the Concept of Capitalism. How does the concept of capitalism actually apply to the globalization process of a business, as it moves from elemental to multinational stages of development? Open markets and insightful leadership is all for nought if the MNE cannot gain ready access to affordable capital. It is capital that allows the investment...
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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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