The Advantages And Disadvantages Of Globalization

Technology has made the world a smaller place. Recent innovations in jets, satellites, and computers have made communication across the globe faster. People are now able to travel to any destination they want in less than a day, so why can’t businesses travel as well? Globalization intends to answer that question. New technology has increased worldwide trade and investment by allowing more companies to trade at a faster rate. Thomas Friedman considers globalization to be “farther, faster, cheaper, and deeper than ever before” (9). Multinational corporations that have entered globalization can now trade their business wherever labor is the cheapest.

Globalization is effectively removing the national boundaries for economic purposes. National boundaries are becoming penetrable for goods and capital because of cheap labor. (Shaw, 2016, p.186). Globalization has both advantages and disadvantages. By transferring the domestic manufacturing jobs to foreign countries such as Mexico or in Asia, Americans companies are bringing cheaper consumer goods. It creates the unemployment’s also the foreign employees are getting lower-wages. (Riordan, M., 2016, NY Times).

Globalization over the past twenty has become an issue in many countries. This industrialization of second and third world countries by Western Civilization creates many opportunities for the inhabitants. Not only does it expand trading markets, but also promotes productivity and efficiency; thus improving the country and integrating it into the industrial world. This process not only benefits third world counties, but also industrialized nations by allowing them to export goods to the developing world and increase their profit margin.

Those who are in favor of globalization claim that, because of globalization, our worldwide market is able to flourish. Having a worldwide market allows consumers to get goods from outside their own nation. Some claim that globalization helps us learn about other cultures. They believe that globalization helps the world become more tolerant because there is so much interdependence. At the root of all the benefits "globalization is a vital step towards both a more stable world and better lives for the people within it” (Liber, Weisberg, 2004, 274). Globalization is the bridge that unites cultures rather than separating them. It is undeniable that

Globalization is increasing interdependency of nations and businesses throughout the world. It has had a profound effect on both markets and production. It has lowered or eliminated government barriers to export-import trade. Gives firms access to the worlds vast offerings of food, clothing, and other manufactured goods. Companies can also benefit from foreign manufacturing, shifting factory production to less developed, cheaper labor countries.

Globalization has many benefits and detriment to the culture in the developing countries. Globalization has increased cross-cultural understanding and sharing. A globalized society boosts the rate at which people are exposed to the culture, attitudes and values of people in other countries. Many developing countries cultures has been changed through globalization, and became imitate others cultures such as, America and European countries. Before globalization it would not have been possible to know about other countries and their cultures. Due to important tools of globalization like television, radio, satellite and internet, it is possible today to know what is happening in any countries such as, America, Japan and Australia. Moreover, people

Globalization is the process by which regional economies, societies, and cultures have become integrated through a global network by transportation, communication, and trade. Through a global lens the process of globalization seems to be vital to the development of the modern world. As a result of globalization there has been a dramatic transition in every aspect of life around the world, more specifically in areas such as trade, immigration, and human development. International trade bolsters sales, lowers the cost of production and consumption, and extends the market reach of any corporation. This is beneficial to America in that consumers are able to buy more goods and services at lower costs and therefore the gross domestic product

This is an important concept to grasp when understanding globalization and its effects. Every day, more countries are experiencing the effects of globalization. If we are to truly become global citizens, this requires us to understand the differences in cultural norms (Zembylas & Vrasidas, 2005). The media, along with ubiquitous computing, has also played a strong role in impacting the ideologies which change impact the cultural norms

Globalization is difficult to simply define due to the variety of changing definitions that have been established over previous decades. Hamilton and Webster (2012) suggest that globalization is the connection between nations, defining globalization as a process in which barriers are reduced in order to encourage exchanges between countries. This view proposes that globalization refers very much so to the trade barriers and the improved communications between countries in order to ensure the world is unified. Globalization increases economic activity across the world and opens up markets for foreign investment.

The practice of world trade amongst countries has taken over the rate of domestic production. It has led to the free flowing of money across national borders, which opens doors for companies and investors to seek for best rates for financing anywhere across the globe. Such trend is known as globalization and Cullen & Parboteeah (2008) defines globalisation as the worldwide trend of borderless and interlinked world economies, and companies no longer restrain by domestic boundaries and possibly conduct any business activities throughout the globe.

The term globalization can be defined as a process by which societies, regional economies and cultures have been integrated via a global network of transportation, communication and trade. It has both positive and negative impacts in all the areas that it touches on be it economical, social, technology, cultural, political, environment, health or any other. Globalization started to have an impact on businesses world wide in the eighteenth century since that time marks the merging of modernity and globalization. However, in the modern sence, globalization kicked off after the end of Second World War since its during that time that leaders felt the urge to break down the borders

Globalization has had both a positive and negative impact throughout the world. An interconnectedness within the world where complicated issues can arise creating an unevenness that can contribute to a societies as well as the individuals happiness in life (El-Ojelli, 2006:p1). The negative impacts of

“Globalization is not just one impact of the new technologies that are reshaping the economies of the third millennium” (Thurow 19-31). When speaking of globalization, most people will not have a complete understanding as of what it actually means or what aspects of the world it affects. Globalization promotes free trade and creates jobs. The capital markets attract investors, resort cheap labor, and leads to job losses in some areas of higher wage. While all of this is happening, the world economy is being effected: economically, culturally, socially, and politically.

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.

Globalization is a process of increasing integration and the result of economic, cultural and political interdependence among countries. Globalization has been a controversial debate, since this phenomenon has affected the world in several ways. Consequently, there are plenty of economic, cultural and political arguments in favor of and against it. Some arguments in favor of globalization are that it promotes democracy, creates jobs (by dividing labor around the world), promotes knowledge and an interconnected world, and makes the world “borderless.” On the other hand, others argue that