Globalisation Assignment – 3000 words
The purpose of this assignment is to offer comprehensive assessment and examination of globalisation and the manner in which it affects various processes and peoples around the world. The work is structured by way of two separate parts. The first part offers an appraisal of how globalisation impacts upon political, economic, social and technological processes in the United States with specific focus on business. Part two then examines the degree to which national culture affects organisational culture. Each part uses both academic source material and real world examples in order to provide a full exploration of the subject. However, before such assessment begins it is first prudent to offer some brief definitional parameters on the term globalisation.
2.0 Globalisation Definition
Providing an accurate and widely agreed definition of globalisation is something which has plagued the academic fraternity since the first globalised functions emerged decades ago (Brennan; 2003). Everyone can agree that as a phenomenon, globalisation has done more to fundamentally alter the basis on which the world functions than anything else in recent history. However, offering an effective definition has proved problematic.
Given the difficulty surrounding the definition of globalisation is it unsurprising that a whole plethora of possibilities have been offered. The best of these tend to be those that account for the broad and wide ranging nature of globalisation. Thus, as Kawachi & Wamala (2007; p.4) have suggested globalisation can be characterised by “a series of particular phenomena such as increasing trade, or capital flows, or logos, or international inequality”.
Above all, whatever definition ones choose to adopt it is vital to remember that globalisation impacts on a whole variety of functions ranging from the political to economic to social.
3.0 The Impact of Globalisation on the Business Environment of the United States
Although the United States remains the leading economy and sole superpower it has nonetheless been affected by globalisation to a significant degree. Indeed, it is the fact that America is so integral to global functions that has increased the level of such impact. This section examines the degree to which business in the United States has been affected by globalisation by assessing the relative impact felt in political, economic, social and technological terms.
3.1 Political Environment
Politically globalisation has had a significant effect on the political processes of every nation on earth. As such, the United States is no exception. Above all, the political effect of globalisation can be seen by the way in which it has undermined the previously privileged position of the traditional nation state (Held; 2006). Although individual national governments have been unable to totally direct their economic fortunes for some time now, globalisation has accelerated this process to a massive degree, meaning that the sovereign ability of nation states to control their economic fortunes has reduced significantly (Hill; 2009).
However, unlike in other countries, business environment in the United States has in many respects benefited from this increased level of non regulation. Indeed, given that lasses faire capitalism has always personified the American approach to business, the United States is in a fine position in terms of effectively dealing with the characteristics of globalisation in political terms (Mittleman; 2000). Stability and free market thinking as enshrined by the American political establishment therefore acts as a hugely beneficial feature of American political factors in wider globalisation (Mittleman; 2000).
Therefore, the political willingness to ensure that free market capitalism prevails in the United States has been a consistent benefit to American business in the modern world of globalised economic functions. Furthermore, instilling an atmosphere of competition has allowed American firms such as MacDonald, Coco Cola and Ford to gain a competitive edge in markets all over the world (Mittlemann; 2000).
Moreover, although protectionism has often been advocated by certain people in American business, an overt willingness to engage in free trade across national boundaries has been the hallmark of the political approach in America for decades (Hill; 2009). Indeed, in this regard it is certainly possible to see how the lessons of the Great Depression have been learnt. Furthermore, ensuring free trade during times of economic difficulty has often come at considerable political cost. Indeed, the Presidency of Jimmy Carter came under enormous criticism for not protecting American industry, most notably the car industry, in the latter 1970s (Hill; 2009). Protectionism can of course offer attractive short term benefits in terms of combating rising unemployment, however in the longer term it is ultimately destructive. Moreover, in the modern world of globalised economic functions the need to ensure free trade prevails over protectionism is of even greater concern (Trainer; 2002). Thus, the political leadership provided by President Obama in relation to global free trade and low trade tariffs is the measure to which the American political system has taken the initiative with regards the possible benefits of globalisation.
Finally, it is important to note that the action of the Federal Government is sometimes vital in economic processes and in this regard it has not been found wanting. Although the Washington’s response to the global financial crisis was slow in relation to the Lehman Brothers, concerted action such as that witnessed with AIG shows how American politics is capable of both ensuring the best features of globalisation prevail whilst simultaneously acting effectively when problems arise.
3.2 Economic Environment
It is important to remember that globalisation is not necessarily a negative phenomenon. Above all, the process which has witnessed the increasing interconnected nature of global economic functions is something that engenders benefits as well as problems (Bairoch & Kozul Wright; 1996).
With regards to the United States economy it is certainly possible to outline a number of negative impacts which have occurred as a result of globalisation. The vast increase in more effective and above all cheaper global competition has had a constituent effect on the American economy by increasing competition on the global stage.
However, one of the greatest threats posed to the American national economy as a result of globalisation is the increasing prevalence of outsourcing as a method of bringing about lower production costs (Hill; 2009). As the global economy now functions at a fundamental level of inter-reliance then the subcontracting of a service or manufacturing process to a third party outside the United States has become common practice for American businesses. Thus, the ability to produce goods and services cheaper in less developed countries has inevitably had an impact on American jobs and unemployment levels (Hill; 2009). Indeed, in 2003 the McKinsey Global Institute asserted that outsourcing among American companies was likely to increase between 30%-40% over the proceeding five years (Baily and Farel; 2004. In terms of employment the institute estimated that this would “result in the loss of 200,000 jobs a year in services of a decade” (Baily and Farell, 2004; p. a). Nonetheless, in terms of business productivity and in particular cutting business costs the development of outsourcing has resulted in a plethora of benefits for American business (Friedman; 2005). As such, various companies such as Intel, Microsoft and Boeing have gained significant benefits from outsourcing (Friedman; 2005).
Indeed, it is often suggested that outsourcing, particularly to India has resulted in serious employment damage for American businesses (Baily and Farel; 2004). However, further investigation by the McKinsey Global Institute has suggested that of very dollar produced using outsourcing in India “only thirty three cents of that dollar goes to the Indian economy in the form of wages paid to Indian workers and profits accrued by Indian firms” (Azu, 2004; p. 4). Thus, the remaining two thirds end up in the American economy thus providing the necessary capital for future investment and job security. Therefore, it is vital to highlight that globalisation is not necessarily a negative progression for American economic interests. Nonetheless, if American business is to remain a world leader then the traditional processes of innovation and development are pivotal. One must not underestimate the competitive nature which has arisen as a consequence of globalisation.
3.3 Social Environment
The globalisation of culture is something which is often considered to be a very negative result of economic globalisation (Brennan; 2003). However, in basic terms the United States is better placed culturally than any other country to deal with such developments given that it is American culture which is largely pervading every part of the world (Hill; 2009). Of course, this is not to say that cultural difference does not have a significant impact on economic performance and outlook. Indeed, such discussion forms the basis for the second section of this work. However, it is nevertheless important to point out that the diverse and flexible nature of American social functions has certainly placed the countries business processes in a beneficial position (Brennan; 2003). Indeed, it has been argued that it is the strength and durability of American society and social consciousness that can account for the success of American business over the last half century (Brennan; 2003). As such, as social functions become ever more interrelated the United States has little to be concerned about. Ultimately, the social consciousness currently gaining global proportions is based heavily on American outlook and such outlook as proven itself to be resilient in the past.
3.4 Technological Developments
Of all the technological developments which have impacted upon economic and business functions in recent decades few have greater relevance and importance that ICT and the World Wide Web (Friedman; 2005). In particular, the massive increase in online business has meant that companies previously of a national kind have been able to market themselves and carry out effective business on a global scale (Friedman; 2005).
Moreover, the development of online technology has made it significantly easier to undertake the kind of outsourcing methodologies discussed in the previous section. Naturally, a pertinent example of a business area where the internet has allowed for increased levels of outsourcing is the ICT industry. Numerous well known American computer giants such as Dell and Microsoft have undertaken significant outsourcing, particularly in India (Brennan; 2003). Indeed, some have suggested that as much as 30% of Microsoft’s development and planning processes are now undertaken outside of the United States (Hill; 2009). Nonetheless, although such outsourcing has certainly been witnessed in the ICT industry in America a whole host of other industries have also moved in a similar direction. For example, the drug giant GlaxoSmithKline now carries out much of its production in South East Asia (Davis; 2009). Moreover, the onset of internet communications have meant that drug companies from developing countries have been able to offer very effective competition in an area traditionally dominated by a small number of large global organisations. The Bangladeshi Beximco Pharmaceuticals is an excellent example of such development (Hill; 2009).
4.0 National Culture and its Impact Upon Organisational Culture
This section will assess the degree to which national culture and organisational culture interact at a fundamental level. Above all, the processes personified by economic globalisation have meant that concepts of organisation and diversity in business management practice have altered significantly. However, national culture continues to have a consistent effect upon the way in which business is conducted in a globalised world. Before this interaction is analysed it is first prudent to offer definitional explanations of national and organisational culture.
4.1 National Culture
National culture naturally denotes the cultural tendencies which personify a particular national grouping or nation state (Martin; 2002). As such, even with the widespread onset of globalised economic functions, nation states have continued to exhibit cultural features which have historical foundations. Therefore, cultural foundations within nations continue to have a consistent impact on business activity. For example, work ethic and focus on detail has been common characteristic of Japanese national culture which has naturally been transposed into the national business outlook (Hill; 2009).
However, increasing cosmopolitanism and cultural diversity has undoubtedly affected the cultures of nation states (Held; 2006). For example, increasing levels of immigration into developed countries has impacted to a considerable degree on the cultural outlook that such societies no exhibit. Indeed, the United States and United Kingdom represent pertinent examples of this development (Hill; 2009).
4.2 Organisational Culture
Organisation culture is the term which describes the cultural, psychological foundations which underlie an organisation (Martin; 2002). As such, organisational culture is essentially focused on questions pertaining to how an organisation functions at a cultural level. Cultural differences therefore account directly for divergences in organisational processes. Given this, it is quite obvious to see how different cultural trends and historical progressions could result in varyingly different organisational outcomes.
Moreover, as culture in an organisation is often something which is taken for granted then historically little academic attention has been given to the subject area. Indeed, the common utterance as suggested by Martin (2002; p. 3) that newcomers to an organisation are informed of “how things are done around here” has often meant that effective analysis on this issue is largely a recent phenomenon.
However, although detailed assessment of the intrinsic components that act to create cultural foundations in an organisation is a relatively new area of research, the onset of economic globalisation has meant that such issues have gained an increasing importance in academic and business discourse (Guidroz et al; 2006). As a result of globalised economic functions, organisations which previously operated on a purely national basis have been opened up to markets on the global stage (Brennan; 2003). Thus, effectively understanding the processes and factors which direct the organisational culture of a business partner or competitor is of considerable benefit.
Therefore, in many respects organisational culture interacts with a variety of theoretical and practical prescriptions which underlie the formation of human relationships in business. In this respect it is certainly possible to see the development of graduated interdisciplinary approaches to the subject and therefore concepts that have traditionally resided in disciplines such as sociology and anthropology are now of important consideration to business thinking (Martin; 2002).
4.3 The impact of national culture on organisational culture
The above discussion provided clear insight into how organisational culture and national culture function. Given the basic features contained within each, it is most certainly not difficult to see how the two interact in a globalised world. Above all, global economic functions have meant that the cultural tendencies of one country are now vital considerations for a business in another part of the world (Martin; 2002). Of course this is not necessarily that recent a phenomenon. Indeed, various American businesses, most notably blue chip enterprises have for decades ensured an effective understanding of Japanese cultural formation in order establish effective business relationships (Martin; 2002). However, the degree to which national culture and organisational culture interact is more complex than merely understanding how a foreign company consequences its processes and organisation.
Indeed, although the above discussion highlighted the importance of cultural issues and national culture in organisational processes, it has also been suggested that the impact of national culture on organisations has been exaggerated. For example, Guidroz et al (2006; p. 5) have argued produced empirically based data results which indicate that “country of origin explained a small amount of variance in respondents’ values and that organisational differences accounted for more variance than did country”.
Therefore, it is possible to see how in some respects organisational culture supersedes national culture in terms of importance in business. The assumptions reached by research like that undertaken by Guidroz et al (2006) and also Gerhart and Fang (2005) are beneficial in highlighting such prevalence on the part of organisational factors. Nonetheless, it is impossible to discount the interaction which often occurs in global business environments between the organisational settings and the cultural tendencies of the host country. Moreover, cultural globalisation is of equal importance to this analysis. The outsourcing of much American business to Asia, in particular India has meant that organisational structures in the latter have had to adapt to cultural norms embodied in the United States (Martin; 2002). For example, in the American banking sector considerable outsourcing to India has taken place over the last decade, especially in the area of customer service (Hill; 2009). Thus, given that many American banks now heavily outsource their customers’ telecommunications services the need for Indian workers to effectively appreciate and account for cultural tendencies in America is of considerable importance. Indeed, the same can be said for the outsourcing of telecommunications and banking customer service from the United Kingdom to India.
Therefore, numerous commentators such as Martin (2002) have pointed out that cultural issues are of considerable importance two both sides when services are outsourced. For example, Bank of America has over recent years outsourced around 30% of its customer service operations to India (Hill; 2009). Moreover, the company has expended considerable resources to ensuring that their Indian colleagues effectively appreciate cultural and national factors in the United States. Conversely, Bank of America has also had to make sure that their business model of development effectively accounts for Indian cultural norms and processes (Hill; 2009). Thus, it is certainly possible to see how national culture and organisational culture often interact on a fundamental level. Therefore, although academic sources such as Guidroz et al (2006) and Gerhart and Fang (2005) have offered an insightful contribution to the debate in this area, it is ultimately impossible to deny the clear and unequivocal link that exists between national culture and organisational processes. Moreover, this essential link has been propelled to ever greater importance because of globalisation.
The various discussions above offered examination of the various processes and functions which personify the development of globalisation. Above all, what is clear is that globalised economic functions have had an enormous impact upon business all over the world, including our case study example the United States.
Firstly, it is undeniable that globalisation has in many ways had a negative effect on business in the United States. Although American business has often been able to gain access to new and productive markets, the increase in cheap foreign competition across a variety of business sectors has caused significant concern. Moreover, although globalised functions such as outsourcing often result in lower costs for American businesses they have an obvious consequent impact on internal employment.
Nonetheless, it is important to remember that globalisation is not necessarily a negative development either for equality among national economies or for business development in the United States (Bairoch & Kozul Wright; 1996). With specific regard to the latter, the innovation which has personified American business for well over a century can certainly negate the worst impacts of globalisation. Finally, national culture and organisational culture interact at a fundamental level. Indeed, the globalisation of world culture on the basis of lasses faire American economics places the United States in a strong position in terms of cultural ascendency and the benefits such preponderance has for business development.
Baily, M. N., and Farrell, D (2004 ) “ Exploding the Myths about Offshoring.”
McKinsey Global Institute [online], available at; www.mckinsey.com/mgi/reports/
pdfs/explodingmyths/explodingoffshoringmyths.pdf, date accessed, 17/12/09.
Bairoch, P & Kozul Wright (1996) ‘Globalisation Myths: some historical reflections on integration, industrialisation and growth in the global economy’ Conference on Transnational Corporations and Global Economy UNCAT: Number 113.
Brennan, T (2003) Globalization and its terrors: daily life in the West. Routledge: London.
Davis, S (2009) ‘Global Trade’, Business Source Premier, 75(4), p180-183.
Friedman, T.L (2005) The World is Flat: a brief history of the twenty first century . New York: Farrar, Straus and Giroux.
Gerhart, B. & Fang, M. (2005) ‘National culture and human resource management:
Assumptions and evidence’. International Journal of Human Resource Management , 16, 971-986.
Guidroz, A.M; Kotrba, L.M; Denison, D.R (2006) Workplace Diversity: Is National or Organisational Culture Predominant. New York: The Linkage Leader.
Held, D (2006) Models of Democracy . New York: Stanford University Press.
Hill, C.W.L (2009) International Business: Competing in the Global Market Place. 7 th edition, McGraw-Hill Irwin: London.
Kawachi, I & Wamala, S.P (2007) Globalisation and Health . Oxford: Oxford University Press.
Martin, J (2002) Organisational Culture: mapping the terrain . London: Sage.
Mittelman, J. H (2000) The Globalization Syndrome . Princeton University Press: New Jersey.
Trainer, T (2002) ‘Two Common Mistakes About Globalisation’ Social Work: University of New South Wales , 18 (2), 1-8.
Yeganeh, M.E (2004) The Impact of National and Organisation Culture on Information Technology . Tehran: Islamic Azad University.
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Impact of Globalisation
What Does Globalization's Future Hold?
International flows are expected to resume as the COVID- 19 outbreak unfolds, according to current projections. While many global trade indices have reached a low point in 2020, CEOs are uncovering hints about the future of globalization and its possible consequences on their businesses by concentrating on a few important drivers.
These are some of them:
Growth In Global Patterns - With large economic cycles, international flows often fluctuate surprisingly. Once the pandemic is under control, true growth can be resumed.
Supply Chain Policies - Changes in supply chain policies can reorganize trade, although they are currently more focused on job losses than shortages.
Conflict of Power and Weakness - The driver had already halted international trade prior to the pandemic. COVID-19, on the other hand, has introduced a few extra layers of complexity. There has been a substantial increase in governmental power, necessitating a competition for ideas. This could result in regional divides, but no such divisions have been established.
Technological Advancements - COVID-19 is significantly influenced by technological change, such as the introduction of e-commerce, videoconferencing, and the usage of artificial intelligence. Many leaders were focused on how technology may help minimize global warming prior to the epidemic. Organizations are now evaluating how technological changes will affect their position in relation to competitors, customers, suppliers, and other stakeholders.
Popular Public Opinion - The epidemic that is reversing high support for trade and migration may have a negative impact on public perceptions of globalization. For the most part, international travel hastens the spread of contagious diseases, and economic stress may exacerbate trade security concerns.
The epidemic is a globalization problem that is "bending but indestructible," but it will continue to bring economic opportunities and problems.
It must be recognised as one of the future drivers of globalization so that businesses can navigate and reap the rewards of this crisis.
The potential for developing global strategy is now huge, albeit complex, in a world of interconnected economies. Now is the perfect time for global enterprises to demonstrate their value to the world by utilizing the world's best forces to end the epidemic and accelerate recovery.
A brief on Globalisation
From ancient times, humans have looked for places to settle, produce and exchange goods which have continuously improved with technology and transportation. In the 19th century, global interaction between countries started developing in Europe.
The first wave of globalisation was the building of steamships, railroads and telegraphs. Another aspect of globalisation was the increased economic cooperation between the countries. However, after World War I, The Great Depression and World II, the new monetary policy of the nations was protectionism.
In the 1940s, the United States started the efforts of reviving international trade and investment. This happened with the help of negotiation of ground rules by nations, which led to the second wave of globalisation which is still ongoing.
Globalisation is known by other names too. Some of the globalisation synonyms are proliferation, development, and growth. The effects of globalisation have been immense on the world economy.
Globalisation as a process has made countries significantly succeed after its initiation and implementation. There was the overall growth of the countries in aspects like foreign investment in all the sectors of the economy. It was a contribution that helped in the development of the economy of a nation.
The policy of globalisation was introduced in India in 1991 along with liberation and privatisation. Its impact on the Indian economy has been massive. Globalisation and the Indian economy have become interrelated as they are directly related. It has helped in the creation of jobs, attract foreign investment and generate income in the economy. Along with the economic impact of globalisation, it has impacted the culture of the country too.
India is one of the greatest examples of globalisation, where even 25 years ago, one couldn't dream of buying such a thing as Levi's jeans or a colour television in the country itself. All our parents have told us stories about how they would ask for these goods when someone they knew, or someone that someone else knew, was going abroad. With globalisation, all we need to do is step out of our houses and enter the market, and everything we could ever want is right there, and all we need is the money to buy it.
Advantages of Globalisation
Globalisation is a process that has several advantages. It is a process that contributes significantly to the development and growth of a nation. Here are some of the benefits of globalisation:
Employment: The establishment of special economic zones has increased the number of jobs available. There are export processing units established all over the world, which have helped employ thousands of people. The multinational companies of the west have been providing employment opportunities to the people by outsourcing employees.
Compensation: There has been an increase in the level and amount of payment compared to the domestic companies. The main reason for this is that domestic or home companies lack skill and knowledge compared to multinational companies. An increase in compensation is leading to changes in the management structure of the companies too.
Standard of Living: With the emergence of globalisation, there has been a change in people's standard of living. The difference in the purchasing behaviour of people has increased the standards of living of people. Therefore, the evolution and development of business have raised the standards of living of people.
Increased Investment: Globalisation has led to an increase in cross-border investments. This has led to companies investing and opening branches in different countries across the globe. The increase in investment across the borders has enhanced the welfare of both countries.
Development of Infrastructure: Technological advancement has helped improve the infrastructure of countries. With the help of technology, the countries are achieving overall development.
Foreign Exchange Reserves: With the help of globalisation, there is a constant flow of capital in the international financial flows. This capital flow helps countries build foreign exchange reserves.
Types of Globalisations
Globalisation is mainly divided into three different kinds. The three types of globalisations that influence one and another in their work. They work in interdependence with each other.
The Three Types of Globalisation are:
Economic Globalisation: In this type of globalisation, countries aim to integrate international financial markets and coordinate monetary exchange. Multinational corporations that operate in more than two countries play an essential role in a nation's economic globalisation. Economic globalisation is the North American Free Trade Agreement or NAFTA, an economic agreement between the United States, Canada and Mexico.
Political Globalisation: This is globalisation that refers to a nation's policies that aim at bringing it closer to other nations politically and economically. Political globalisation helps build a bond between countries with each other. Some examples of political globalisation are North Atlantic Trade Organisation (NATO) and United Nations (UN).
Cultural Globalisation: In this type of globalisation, the focus is on the technological and societal factors which bring people together. Cultural globalisation includes ease of communication, social media and access to faster and better transportation.
There has been a tremendous impact of globalisation on everyone - people, communities and institutions. Everyone locally and globally has felt the touch of globalisation not only in their lives but in society too. There are myriad ways in which one may feel the impact of globalisation on one's life.
Individuals get impacted by globalisation regularly, in the clothes they wear, the music they listen to, the gadgets they use, the cars they drive, and so much more. Several international influences affect the ordinary lives of people in such little ways that it is hard to render anymore. It moves what they like to purchase, eat and it also affects the standard of living overall. Additionally, it affects their decisions like where to travel and how to travel, whether you're talking about intercity, interstate or even international travel. Globalisation has made everything in all of our lives so much easier than it was even a few years ago.
Another group where there's an impact of globalisation are communities. There's a significant impact of globalisation on the communities locally, regionally and internationally. It includes the effects of globalisation on organisations, businesses and economies. The variety of products available today is countless and even unbelievable to an extent. This creates a vast marketplace for both sellers and consumers, and this is how globalisation plays a vital role in expanding the economy.
Globalisation affects people who are a part of the community in every aspect, like where they work, who they work for and moving around the world. It changes the way local cultures develop all around the world.
What we must remember is that globalisation is not only concrete, meaning that it does not only affect the circulation of goods and services floating in the economy and being made available to consumers. There is such a thing as globalisation of the intellect, where progressive values often deemed 'Western' values are also exchanged. This, in fact, works both ways, where we see traditional and backward values be replaced with more progressive ones as the world progresses further. On the other hand, several Western cultures are also becoming more and more affiliated with those of the East, such as in matters of sustainability and sustainable practises of olden Eastern times.
Importance of Globalisation
Globalisation has been one of the long-standing trends which are constantly in the process of changing and evolving. Like everything else, there are positives as well as negatives of globalisation. Both these factors can't stop the progress of globalisation which is taking the world by storm.
It's changing the way nations, businesses and people interact with each other. Globalisation brings people across the countries together to trade, share their cultures and depend on each other for sustenance.
The reason why globalisation and discussions around it have taken centre stage in recent years, especially since 1991 in India, is because the world is becoming a lot more dependent on global cooperation as a whole. There are several impending crises that are taking place across the world, ranging from political to environmental to diplomatic, and fighting this requires a kind of global cooperation that only comes from global interconnectedness, i.e. globalisation.
We must not only look at globalisation as a result of our wants and needs spreading globally, especially because of the fear of missing out, but also in the light that worldly togetherness is becoming the norm. It is regular to see Indians spread across the world, looking for better opportunities and better lives, and this is the pull factor of globalisation. It is important because it keeps hopes alive by showing us what can be rather than having us stick only to what is.
The policy of globalisation is bringing the world closer to each other. Globalisation has impacted every aspect of a person’s life, right from the phones they use to the clothes they buy. While there are many advantages of globalisation, there are a few drawbacks too. One of the drawbacks is that the process of globalisation has impacted the environment negatively and didn’t stabilise the global economy.
FAQs on Impact of Globalisation
1. What are the advantages of globalisation?
Employment: Globalisation has increased the opportunities for jobs in countries all over the world. Many multinational companies have created job opportunities for people in other nations by outsourcing their labour.
Compensation: Multinational companies are contributing to the increase in the amount of payment. Growth in the balance has led to changes being made in the management structure of the organisation.
Development of Infrastructure: Technological advancement has helped improve the infrastructure of countries. With the help of technology, the countries are achieving overall development.
2. What are the types of globalisation?
The three types of globalisation are:
Economic Globalisation: This refers to globalisation in the integration of the international financial markets and their coordination with one another. Additionally, it relates to the monetary exchanges which happen between countries.
Political Globalisation: It refers to the policies and plans of countries that aim at bringing it closer to the countries of the world. The purpose of political globalisation is to bring nations closer to one another.
Cultural Globalisation: Cultural globalisation refers to the factors like technology and societal factors which bring people closer to one another. It helps spread the knowledge of cultures, communities and people across the nations.
3. Is globalization good or bad?
Globalization allows more goods to be more affordable and accessible in many parts of the world. It helps to improve productivity, reduce gender pay discrimination, provide more opportunities for women and improve working conditions and quality of management, especially in developing countries. Increasing production of goods. One of the main effects of globalization is that it opens up new markets for businesses where they can sell goods and get jobs, raw materials, and components. Hence, globalisation is preferred to be the most upgraded activity which nations should follow. It also saves time and gives more ideas to explore new things. It will surely take the country to a better economic and financial position.
4. How can a student download the globalisation pdf from the vedantu website?
Nowadays with the availability of millions of websites for the reference of students' study material, it is really important for the students to make a proper note of revision. Globalisation is an interesting chapter with loads of new things to be learnt about the economy. Therefore, the students must make full utilization of the study material by downloading them from the Vedantu website. There is not much effort to be put in while downloading the study material as you just have to login to the website for downloading the pdf and search for it. They can download the notes on Globalization in the PDF format and can save on their computers. They can use the notes on Globalization to study for the exams and score high marks.
5. Is Vedantu a reliable website for referring to the globalisation notes?
Yes, Vedantu is a reliable website for referring to the Globalisation notes. Vedantu prepares the notes according to the needs and requirements of the students and their level of knowledge. By providing free of cost education they make an attempt towards encouraging the students to learn more conveniently and easily. Hence, this ensures that the Vedantu experts aim at covering all the concepts and analytical skills of the students. This will ensure that the students are getting good marks and they do not have to suffer in the process of education.
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- Prof. Suzanne Berger
- Political Science
As Taught In
- International Economics
- Political Economy
- Social Justice
Learning Resource Types
Please write an essay on one of the two topics below. The essay should be 12-15 pages double-spaced. It is due on Lecture 7 at start of class. No additional reading or research is required beyond the syllabus, class lectures and section discussions.
- Historically, free trade seems to be a rather recent policy. Why were governments more protectionist in the past? Why and when - did states stop providing protection against economic forces coming from outside their borders? Is it that states are less willing - or that they are less able-to provide such protection today? What changed? The essay should consider alternative explanations of the decline of protectionism. It should identify which changes grew out of changes within domestic societies (e.g., in ideas, or interests, or national policies) and which derive from international factors (e.g., “globalization,” new institutions, changes in the relative power of different countries, and so forth). After considering different approaches, lay out and provide evidence for your own conclusion about the most convincing explanation. [Feel free if you wish to take a longer historical perspective and to consider the fall-rise-fall of protectionism from the 19th to the 21st centuries.]
- Who is for free trade and for capital mobility? Who opposes them (one, or the other, or both)? Do the positions on free trade and capital flows of individuals and of social groups depend mainly on their economic interests? Do given economic interests point clearly to support or opposition for lowering the barriers to cross-border flows? Or if some other factors are more important in determining positions on trade and capital markets - what are they? Which “other factors” might matter in explaining support or opposition? Lay out alternative views presented in the readings, and present your own conclusion. Provide evidence (historical or contemporary) from at least two different countries. Whichever position you take, be sure to consider counter-arguments.
Please write an essay on one of the two questions below. The paper should be 12-15 pages double spaced and it is due at the start of the last class.
- How can we evaluate the effects of globalization as against the other processes at work in the world at the same time? Why should we want to be able to sort out the impact of globalization from the impacts of other forces at work-how does this matter? Consider these issues by focusing on one important contemporary social, political, or economic issues. Examples might be inequality, economic growth, unemployment and job creation, development, democracy. Analyze how globalization has affected changes in this area, and in order to be able to specify the role of globalization, lay out carefully the other processes that may be at work. Lay out the argument on all sides, and draw your own conclusion about the significance of globalization for the issue in question. Consider whether changes in public policy (and which changes) might improve outcomes. Use evidence and arguments from readings of the entire semester in developing the arguments. [Note: you may choose some other issue, like culture, environment, or innovation - and examine globalization’s effects. But there’s not enough in the readings to make that possible, so you’d have to do extra reading. For the topics listed above, it is possible to write a good essay without further research.]
- Opponents of globalization argue that it weakens national governments making it difficult or impossible for them to maintain social welfare policies, environmental policies, and other fiscal redistributive measures. Others claim there is little or no evidence of national governments’ decline. Yet other writers seem to think that whatever the effects of globalization on governments, they are likely to be beneficial for long-term economic growth. Please analyze the claims laid out in this controversy, and try to argue the strongest case you can in favor of the view(s) you find most convincing. In doing so be sure to consider seriously the case that might be made against your position, and why you reject it.
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Assignment, globalization )
Đức Bình Lê
Fairness, Globalization, and Public Institutions
Http Dx Doi Org 10 1080 13547860 2014 974343
Angie N Tran
Globalization is the new buzz word that has [Type here] come to dominate the world at the later part of the last century with the end of cold war period and the disintegration of the former Soviet union and global trends towards the rolling ball. The increase on the markets economy and faith in private capital, structural adjustment and influences of the World Bank and International Organizations in many third world countries. Globalization brought in new opportunities as well as challenges to third world. With the analysis of the concept, present research examine the history, types of globalization and composition of third world. The study focuses on the positive and negative impacts on third world countries brought by globalization. To conduct the research, researcher utilize the descriptive and analytical method of research.
JUAN CAMILO RODRIGUEZ VARGAS
journal of critical reviews
Nguyen Hoang TIEN
In the era of globalisation, economic integration is the indispensable trend for all countries, including Vietnam. This article will help us better understand the achievements and limitations of Vietnam in the process of economic integration. We gathered secondary data from sources of domestic and foreign agencies. We applied methods such asanalysing, synthesising and concluding on diverseissues of economic integration process of Vietnam. From that, we can see the achievements and challenges that Vietnam is facingnow and in the future. We propose solutions to promote the strengths of Vietnam to create more achievements and to overcomerestricted points for Vietnam in facing challenges and difficulties while integrating into the world economy and becoming increasingly stable partner in the international arena.
Science Park Research Organization & Counselling
Nguyen Bich Diep
Pramod Pyara Shrestha
Proceedings of the International Conference on Business Excellence
Daniela Dulanto Reinoso
José Alberto Pérez Toro
Annals of The American Academy of Political and Social Science
tilak doshi , Peter Coclanis
Saurel Hervé Daniel Guede
Theoretical & Applied Science
Jonathan V Beaverstock
Victor 'Bobing' Venida
LÊ THỊ SONG HƯƠNG
RePEc: Research Papers in Economics
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