Globalisation is a process of increasing interdependence and integration of economies and societies to such an extent that an event in one part of the globe affects people in other parts of the world. Thinkers and Scholars all over the world often talk of global culture, global economy and global governance.

1. Globalizations

2. Globalisation
Globalisation is a process of
increasing interdependence
and integration of economies
and societies to such an
extent that an event in one
part of the globe affects
people in other parts of the
world. Thinkers and Scholars
all over the world often talk of
global culture, global
economy and global
governance.

3. Under the norms of globalisation the political restrictions
on the trade of goods, services, technology and
information has reduced. Exchange of technology,
information, goods and services has also been subject
to the economic concerns rather than the political
concerns which happened during the cold war.
However, this process has not been consistent
throughout the world; it has led to the conflict and
fragmentation between different countries and even
different groups of people within the same country.
The impact of gloablisation is relative to group identity,
geographical location, culture, gender and the skill
capacity of the individuals.

4. • Greater free trade.
• Greater movement of labour.
• Increased capital flows.
• The growth of multi-national companies.
• Increased integration of global trade cycle.
• Increased communication and improved
transport, effectively reducing barriers
between countries.

5. Globlisation
Technology
Multination
Companies
Improved
Transport
ation
Labour
mobility
Capital
Mobility

6. Type of Globlisation
Economic Globlization: Economic globalization is
the increasing economic interdependence of
national economies across the world through a
rapid increase in cross-border movement of
goods, services, technology, and
capital. Whereas the globalization of business is
centered around the diminution of international
trade regulations as well as tariffs, taxes, and
other impediments that suppresses global trade,
economic globalization is the process of
increasing economic integration between
countries, leading to the emergence of a global
marketplace or a single world market.

8. Cultural globalization
• Cultural globalization refers to the transmission of
ideas, meanings, and values around the world in
such a way as to extend and intensify social
relations. This process is marked by the common
consumption of cultures that have been diffused by
the Internet, popular culture media, and
international travel. This has added to processes of
commodity exchange and colonization which have a
longer history of carrying cultural meaning around
the globe. The circulation of cultures enables
individuals to partake in extended social relations
that cross national and regional borders. Cultural
globalization involves the formation of shared
norms and knowledge with which people associate
their individual and collective cultural identities. It
brings increasing interconnectedness among
different populations and cultures.

9. Political globalization
• Political globalization refers to the growth of the
worldwide political system, both in size and complexity. That
system includes national governments,
their governmental and intergovernmental organizations as well
as government-independent elements of global civil society such
as international non-governmental organizations and social
movement organizations. One of the key aspects of the political
globalization is the declining importance of the nation-state and
the rise of other actors on the political scene.

10. Impact of Globlization
• Provide a platform worldwide
• Increase in economy of an organization.
• It make different region closer on basis of
business
• Exchange of ideas improve business skill.
• It also provide information up/down of
international market

12. Advantages:
The benefits of globalisation are related to the benefits of free trade.
1. Consumers will have a wider choice of goods, and prices are likely to be
lower. Globalisation has been an important factor in the falling price of
manufactured goods.
2.Globalisation gives an opportunity for domestic firms to export a wider
market. Export led growth has been an important factor in increasing
economic welfare in Asian countries.
3. Globalisation enables increased specialisation of production. This
specialisation enables firms to benefit from economies of scale. This leads
to lower average costs and increased efficiency.
4. Globalisation causes increased competition between different firms and
countries. This puts pressure on firms to be increasingly efficient and offer
better products for consumers.
5. Increased Inward Investment. The process of globalisation has encouraged
firms to invest in other countries. For example, many firms are relocating
call centres to countries like India, where wage costs are lower. This
inward investment benefits developing countries because it creates
employment, growth and foreign exchange. Some foreign companies are
criticised for exploiting cheap labour. But often the wages are higher than
otherwise.

13. Disadvantages
1. Developing Countries May Struggle to compete. If a developing country
wishes to develop a new manufacturing industry, it may face higher costs
than advanced industries in the west, who will benefit from years of
experience and economies of scale. To develop an industry it may be
necessary to have protection from cheap imports; this gives the firm
chance to develop and gain economies of scale.
2. Globalisation keeps Developing countries producing primary products.
Developing countries may have a comparative advantage in primary
products, however, this offers little scope for economic growth. Primary
products have a low income elasticity of demand. Therefore, with
economic growth demand for products increases only slowly. Primary
products often have volatile prices, this can cause the economy to be
subject to fluctuations in income
3. Multi national Companies may be able to force out local retailers, leading
to less choice for consumers and less cultural diversity.
4. Movement of Labour. globalisation enables workers to move easily around.
however, this may cause the highest skilled workers of developing
countries to leave for better paid jobs in developed countries.