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 foreign markets create countless open market opportunities(Fisher, 2006). Organizations can communicate more efficiently with partners, suppliers, and customers, creating more efficient ways to manage their supplies, inventories, and distribution networks. Local producers can sell their products in markets that used to be inaccessible, with the same ease and momentum that they would have in their native country(“Why Globalization is Good,” 2007). Outsourcing low dexterity jobs to overseas markets allows companies to utilize cheaper labor, culminating lower prices for consumers("Worldbank.org/", 2014). Although many people in the U.S. are upset about the loss of these unskilled jobs, they are also angry about high prices. Globalization will lead to our cherished lower prices and enable the formulation of new and better products("Baylor.edu", n.d.). The creation of new products is extremely crucial for the economy. By creating outside jobs and creating new incomes, a new class of citizens now have the opportunity to purchase U.S. goods and services(Fisher, 2006).

Conclusion
Globalization is good for the business world because organizations from around the world work together. When corporations work together for a common goal, it becomes easier to communicate with different regions of the globe. The internet has made this process even more painless Because you can access it in most parts of the world, information can be exchanged easier and faster than through any other primitive tool. Globalization has increased the ease of developers with inventing new products and technologies. If somebody in America discovers a new technology, other experts around the world are informed about it faster, and they can contribute to its development. When countries are not working against each other, they are helping to find new and productive ways to avoid obstacles in their industries.

References
Forbes.com. (2011). Retrieved from http://www.forbes.com/sites/panosmourdoukoutas/2011/09/10/the-good-the-bad-and-the-ugly-side-of-globalization/

worldbank.org/. (2014). Retrieved from http://www.worldbank.org/en/news/opinion/2014/02/11/is-globalization-a-good-or-a-bad-thing

debate.org. (2015). Retrieved from http://www.debate.org/opinions/is-economic-globalization-good-for-the-world

Fisher, R. W. (2006, April 9). The good in globalization. New York Times. Retrieved from http://www.nytimes.com/2006/04/09/opinion/09iht-edcox.html?_r=0

Why Globalization is Good. (2007, March). Forbes,Retrieved from http://www.forbes.com/forbes/2007/0416/064.html

Baylor.edu. (n.d.). Retrieved from http://www.baylor.edu/ifl/christianreflection/GlobalWealthArticleMcKinney.pdf