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Impact of globalization in society
Globalization and how it has affected international business
How globalization changes society
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Recommended: Impact of globalization in society
How globalization is impacting organizations; companies are being operated in a way that is much different that the model we may have been accustom to in the past. Many organizations have developed strategies that reduce the barriers to trade. They have either moved operations to other parts of the globe or brought the work force to their physical (or virtual) locations to fulfill their work force needs.
As a result of globalization, many countries have seen rapid industrial growth. In many cases, the process is happening many times faster than it would have prior to the free trade environment we see developing today. The average household income in some countries has multiplied several times over. For example; a recent report on National Public Radio discussed a small farming community in rural China where the incomes have tripled. Over the past year this community has transitioned from farming to the manufacturing of goods because they can make more money.
This rapid growth is the direct result of a global search to produce products in the most economical way possible. If it were not for the free trade happening in the “global village” these countries would not be able to expand at this expedited rate. “Because of globalization many people in the world now live longer than before and their standard of living is far better.” (Stiglitz, 2003)
There is a large body of evidence that supports the positive aspects of globalization. However, there are also many less desirable outcomes identified. Countries that are less developed have fewer regulations imposed on them and the industries they are involved in. The lack of sensible rules and regulations leads to the headlines we are seeing all too often today; environmen...
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...ironmental degradation, the exhaustion of renewable resources, the accountability of IMF, World Bank and WTO and the power of global companies – must be judged by a set of moral reference points which are part of the world God created.” (John H. Dunning, 2003)
There are many perspectives and opinions surrounding this controversial subject of globalization. It is important as a Christian, to approach this subject with a Christ like spirit of humility and love when trying to answer these questions in our own minds.
Works Cited
John H. Dunning, P. o. (2003). Making Globalization Good. New York, NY: Oxford University Press Inc.
Stiglitz, J. E. (2003). Globalization and its Discontents. New York: W.W. Norton & Company, Inc. .
The World Bank Group. (2007). Global economic prospects: managing the next wave of globalization. Washington DC: The World Bank.
Steger, M. B. (2003). The Economic Dimension of Globalization. Globalization: A Very Short Introduction. London: Oxford University Press.
In his book, Globalization and its Discontents, the author provides an enthralling perspective on the shadow side of globalization. Nobel laureate Joseph Stiglitz’s experiences as the Chief Economist of the World Bank and the Chairman of the Council of Economic Advisers in the Clinton Administration has provided him with an interesting vantage point to understand the inner workings of the IMF, the World Bank, the WTO and also the governments and finance ministries of many countries across the world.
Gardner, Robert, and Wayne Lavold. "Chapter 9-12." Exploring Globalization. Toronto: McGraw-Hill Ryerson, 2007. N. pag. Print.
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.
Veseth, Michael. "Chapter 9. The Future Of Globalization." Globaloney 2.0: The Crash Of 2008 And The Future Of Globalization. 2010. 183. Print.
Sassen, S. (1998). Globalization and its Discontents. In G. Bridge, & S. Watson (Ed.). The Blackwell City Reader (pp. 161-170). Oxford, U: Blackwell Publishing.
Stiglitz, Joseph E. Making Globalization Work. New York: Norton & Company, Inc., 2007. Kindle ebook file.
(Bilton et al 1996:5) The process of globalization has certainly had many changing effects to the world we live in; it has also changed the way many factors operate. Globalization is said "to have transformed the structure and scale of human relationships that social, cultural, political, and economic processes now operate at a global scale with a consequent reduction in the significance of other geographical scales. "(The Dictionary of human geography 2004:315) Globalization has had both positive and negative effects on a local, national, international and global level. Globalization often brings benefits at one level which cause negative effects at another, these results and the scale at which they manifest are often uncertain and unpredictable.
In today’s continuously changing world, many experts say that globalization is what every business, organization, and nation should seek and welcome as a positive change. However, many people are unaware of the main focus and meaning of Globalization, especially in comparison to Localization. A large number of people believe that globalization is just another common word used to refer to changes and differences that cannot be explained or accounted for. Therefore, many different activities or changes are improperly labeled to be a part of or caused by globalization.
Globalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. Greater access to developed country markets and technology transfer hold out promise improved productivity and higher living standard.
Over the last couple of years, the world has become increasingly globalized. After the cold war, all parts of the world were attracted to the process of globalization. The effect of globalization is uneven in different parts of the world and globalization suggests a world full of persistent cultural interaction and exchange, contacts and connection, mixture and movement. Different people view globalization in different ways. Some people feel it has done more good than harm, while others believe it has done more harm than good. This essay will give a deep intuitive understanding of globalization, world systems, and how globalization has affected society, culture, economics, and politics.
Stiglitz, Joseph (2005), “The Overselling of Globalization,” in Bradley A. Thayer, Nuray V. Ibrayomova (eds.), Debates in International Relations (New York: Longman), 86.
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
Globalization, the acceleration and strengthening of worldwide interactions among people, companies and governments, has taken a huge toll on the world, both culturally and economically. It’s generating a fast-paced, increasingly tied world and also praising individualism. It has been a massive subject of matter amongst scientists, politicians, government bureaucrats and the normal, average human population. Globalization promoted the independence of nations and people, relying on organizations such as the World Bank and also regional organizations such as the BRICs that encourage “a world free of poverty” (World Bank). Despite the fact that critics can argue that globalization is an overall positive trend, globalization has had a rather negative cultural and economic effect such as the gigantic wealth gaps and the widespread of American culture, “Americanization”; globalization had good intentions but bad results.
Larsson, Thomas. The Race to the Top: The Real Story of Globalization. Cato Institute, 2001.