What is Globalization?? Free movement of goods, services, people, capital, technology and information from one country to another country on international level. Globalization is usually referred to be driven by a combination of economic, technological, socio- cultural,political and biological factors. Globalization could also be referred to the global spread of3 ideas and languages.
Yesterday’s Globalism…In yesterday’s one-size-fits-all world, big companies could often migrate something that was a hit in the U.S. or Europe by tweaking the language and advertising .Examples: Mercedes-Benz, traded on its reputation for building highly engineered automobiles to drive into foreign markets. Coca-Cola Co. and Marlboro cigarettes traded on their “American-ness” to create large overseas followings. Sony Corp. found that compact, economical,6 and reliable electronics like the Walkman, struck a chord with people everywhere.
Today’s Globalism… Things have changed. No company can safely assume there will be viable foreign markets for an existing product. Any company seeking to expand globally needs to ask if its offerings are culturally and socially appropriate for its targeted market.7
Globalization is much like fire FIRE ITSELF IS NEITHER GOOD NOR BAD . Used properly--it can cook food, sterilize equipment, form iron, and heat our homes. Used carelessly-- fire can destroy lives, towns and8 forests in an instant.
Globalization good?????? Worldwide market. Transfer of capital, technology, management Development of trade. Increased employment Utilization of resources. Increase international relations.9
Globalization bad ??????? Creating Larger Gaps in Classes Conflicts between classes Environmental degradation Threats to social and cultural values Exchange rates uncertainties Less reliable products10
Why is there global Inequality, and Is it getting worse? “The gap between the rich and poor nations of the world is increasing…By the late 1990s the fifth of the world’s people living in the highest-income countries had:Example 86% of world GDP—the bottom fifth just 1%. 82% of world export markets—the bottom fifth just 1%. 68% of foreign direct investment—the bottom fifth just 1%. 74% of world telephone lines, today’s basic means of communication—the bottom fifth just 1.5%.”11
Conclusio n In short Globalization is a gradual process and will contribute in sustainable development of the global community as a whole. It is essential to the growth of the economy in today’s decline but its negative effects need to be evaluated. As with most issues, the majority of people will be in the middle. They will see globalization not as something to worship or demonize. Instead, they will see it as something to mold, shape and15 manage for the betterment of everyone
References http://geography.about.com/od/globalproblemsandi ssues/a/globalization.htm Accessed Date: 27th July 2012 http://wiki.answers.com/Q/What_does_KOF_in_K OF_globalization_index_stand_for Accessed Date: 27th July 2012 Debate: “Is globalization good or bad?” Final Exam Review. 2012. www.google.com. Shrestha, S. 2012. Overview Of Global Business.17 Lecture note, BBA 6th sem.