- How globalization affects our world economically
- Buy "Global Leadership: Globalization and its likely effects" essay paper online
- How globalization will affect the world environmentally
- How Globalization will affect our world politically
- How globalization will affect our world culture
- How globalization will affect our world legally
- How globalization impact on our world ethically
- Related Business essays
Globalization is the process that involves the increase in the interconnectedness and interdependence of the global, markets as well as business. The process is characterized with technological advances and transfer around the globe which has made it easy for people to communicate with one another no matter the distance. Halle et al (2007) not that people can now travel and conduct business internationally more easily. In recent times, the rise of the internet and the advancement in the infrastructure for telecommunication have been cited and the major driving force of this process. Arguably, the internet and improved telecommunication ecology have had a tremendous impact of communication and exchange of ideas. The economies across the world have become connected increase opportunities world wide and also encouraging cutthroat completion (Intriligator, 2003). As the world becomes increasingly globalized, powerful global and ant global campaigns and campaigners emerge citing benefits and negative impacts of the process or its out comes. The World Economic forum and the World Trade Organization have emerged as the greatest proponents of globalization. These believe that globalization will bring about great opportunities to everyone. However, the opponents to the process lead by the environmental organization, International aid organization, third world governments and businesses whose existence is threatened by the process state that globalization will encourage economic deprivation and suffering of some communities around the world. This discussion is going to focus on how globalization will impact on the world economically, environmentally, politically, culturally, legally and ethically.
How globalization affects our world economically
As the world’s information technology advances, investors and business people are encouraged or motivated to look for new resources to generate incomes and new markets to sell their good s and services. Consumers are also positioned to select or choose from a wide range of services and goods that are available in the market. According to Intriligator (2003) globalization will further increase the markets availed to business people as well as access to raw materials and the rage of goods and services available to consumers.. Competition by the service providers and goods producers in the world to give the best to the consumers and retain them too will improve the quality of services given to people. So fart the aspect of quality has been satisfactory although counterfeit product have also been on the increase in some part of the world especial in the third world markets.
At local arena local monopolies and business men have been eliminated considerably and are likely to be total eliminates an influx of goods from other places increases. The influx will improve consumer’s access to goods of high quality at reasonable prices (Intriligator, 2003). Large companies that produce high quality good have mange to stamp their authority on the international market and as globalization takes place they are likely to become more dominant albeit with stiff competition from their competitor. The opening of opportunities for companies or producers all over the globe is certainly a positive outcome of globalization and consumers are to benefit more.
Manufacturers and other employers are now able to get quality from all over the globe. This means one can get experts with technical skills and knowhow on their line of profession from anywhere. The human resource being the most important in all the industries requires dedicated, qualified and experienced people that may not be located on one area. This means business entities are be tasked to track them and absorb them to the organization and this may prove too costly if local firms are given the duty to recruit them. The mobility of labor, skills and talent is likely to increase in future. Large companies with great financial capabilities will be the beneficiaries while small companies especially in the third word will suffer more. Certainly, this may deny the third world economies the skill and expertise they require to grow. However as the advancement in the internet technology continues it becomes easier for the corporation to recruit their employs from far countries easily with out the need of local representatives. This means that there is increased efficiency in recruitment of worker, reduced cost and also a lot of time is spared for other purposes (Intriligator, 2003)
Intriligator (2003) further notes that capital flow is a very important aspect that can be realized when globalization is adopted and accepted. This means foreign direct investment is set to be on the increase whereby investors from other countries will offload their capital, build businesses, employ people and also bring in their expertise and technical knowhow to new or remote places. Yeh & Vaughn (2010) asserts that this will bring about development to remote places benefiting the locals. Government in such places will realize improvement in the taxes, fees and levies as the number of tax payers increase. On top of that there is the aspect of the labor that otherwise could be lying unutilized being absorbed by these foreign companies. Structures and other equipment that have economic value are also put up by these foreign entities, all these benefit come by through the aspect of globalization whereby people interact, research and identify the most profitable destination of investment and hence its clear that globalization has many benefits.
Technological advances such as the telephones, computers and motorcar have characterized have increased the speed and efficiency and the precision in which many a people conduct their business. There has been the ease in which information is shared; social sites such as Facebook, my space and tweeter have had great contribution towards a more diversified social level. We are moving towards a global village where information is readily available to anyone with a need f or information can access it (Intriligator, 2003). This information together with the technological advances mentioned above simplifies sharing of information by interested parties on one on one basis. For instance, the use of teleconferencing in global meeting ensures a direct and instant consultation of top executives of companies before making crucial decisions. This is achievement brought about by technological advancement and is likely to improve further to enhance efficiency.
In light Britain can be viewed as is an ‘open’ economy. It has the aspect of the foreigners easily coming to do business locally. The European market has ensured that there is a steady supply of its goods and services produced in the home industries as well as foreign products finding their way into the domestic market. The textile industry as an example, has managed to come up with quality ideas in producing clothes and fashionable wear which has been marketed via the internet and other avenues of information. Through sites as Facebook and online Mall, entrepreneurs have sold millions worth of goods to faraway customers. The stock industry too has experienced a boom due to the deregulation of the market which initially was a problem for foreigners to trade freely. Now that the procedures of investors to qualify for the chance to invest in the UK have been eased, volumes of investors have begun to come to the British Market.
Despite the economic benefits of Globalization are immense, clear and direct but we can’t overlook also the part of it that is negative. As there are opportunities, threats are also beckoning. According to (Yeh & Vaughn, 2010) one of the most threats of globalization is the loss of domestic employment. Companies operating domestically will naturally go for cheaper labor in order to maximize profit and income. In this regard, they may opt to recruit cheap labor online or workers who are cheaper to maintain and accept relatively less pay than local workers. This not only creates a problem of job insecurities among the domestic labor force but also decreases the opportunities for them to get meaningful source of livelihood.
Other economists argue that globalization lowers the ability of governments to levy taxes and other fees to foreign investors in the country. This can be seen from the perspective of the companies looking for the lowest or least taxed countries to invest there, hence a downside to other equally productive countries with a relatively high tax levels. In conclusion, the issue of globalization, with its good side has its downside to the economies worldwide. Otherwise some countries may emerge dominant economically just like America and china are at the moment (Yeh & Vaughn, 2010).
How globalization will affect the world environmentally
Globalization has been an important aspect in the economic, social cultural and environmental aspect of life (Halle et al. (2007). The issue of environment has been on most of the people’s discussions especially those in power and business. Due to increased migration of people, expansion of the businesses and the lookout for new raw material for production, the environment has and will be a victim of degradation. Goods and service provision will been necessitated by the increase in demand by the consumers, and the raw materials or resources for the manufacture of the goods will lead to the importation of goods, or those resources needed for production . According to Halle et al. (2007) this has initially led governments and other financial bodies to liberalize the trade activities and practices to facilitate an easier export import business. This ultimately led to the debate whether or not these actions will harm the environment and depleted natural resources in the quest for cheaper raw materials. In this debate there is an argument that goods produced in the foreign market but consumed locally have or don’t have an envronmental threat, also, another view is that goods made using foreign raw materials may or may not have domestic environmental effects. There is a further argument that the transportation of the resources from a foreign area of production to the other also may or may not affect the environment. Globalization is thus a diverse issue that should be looked from the environmental perspective and scrutinized on the positive and negative dimensions.
Corporate bodies, governments and consumers have interests that have a direct link to the environment. Corporate bodies have a profit motivation, the government has a tax motivation and the overall consumers have an inclination toward goods and services with the best quality and affordable prices, in other words the optimum utility. This all motivating reasons have one base, that all are generated from the environment. The government has the mandate to license manufacturers both of domestic or local origin to either make the goods locally with the local materials or import already made products to be consumed by the local consumers.
The government also comes up with policies that attract the foreign manufactures to invest in the local markets thus bring in the tax and help in creation of domestic jobs and other skills (Vertovec, 2003). Due to globalization, information is easily spread out to the potential investors who express interest in the investment, the government usually goes to the most lucrative ones, but more often than not tend to overlook the environmentally friendliness of the business practices. For instance questions of waste management by the companies have been ignored this will cause pollution of environment by those foreign companies with profit minded objectives. Rivers, forests and other natural habitat are at risk to be downgraded and animals been cut off their livelihood. Goods manufactured in the local market with a bit of foreign raw materials pose a great danger in as much as there is much denial of the issue. There is less tracking on the origin of those materials and little research is being done to prove the environmental friendliness of those materials. The African, Caribbean and the South American markets have been victims of these practices (Halle et al, 2007). The manufacture of computer chips for example produces wastes that harm the ozone layer. The disposal of computers that have passed their expiry dates has been an issue especially since they are radioactive and don’t easily decompose. Governments through their powers have from time to time failed on this issue, encouraging numerous negative outcomes on the environment
Corporate and businesses all over the world, through globalization have come up with ideas, attracted labor and other factors of production with the least costs and maximum profits due to the current information technology and extensive research. As Vertovec (2003) the most important issue of the entire business world is the motivation for the profits. This has its own important and positive influence on all the markets and all the populations all over. For instance there is provision of essential goods and services that make life easier. There is provision of revenue by the businesses to the government for the general upkeep of the country and so forth. This have made people to have little regard for the environment and if the trend continues. The ongoing climate change and global warming will increase considerable as automobiles, industries, planes and others continues to generate green house gases. Also the destruction of vegetation and depletion of species will continuously encourage desertification and unsustainable development. Increase inhuman waste and poor dumping of the same has also made some place uninhabitable. These can already be seen in the famines, floods and diseases that have struck many parts of the world.
Environmentally speaking there has been some good ides of the businesses like the social responsibilities whereby good practices are encouraged to conserve the environment and maintain it too (Vertovec, 2003). However, numerous blunders such pollution of the environment by engines or the noise by planes or trains is still common. Famous of all is the oil spill of British Petroleum Company while in transit to the coast of the United States whereby, a little negligence of the people in control in the management level can be disastrous to the general economy. Consumers also don’t escape the responsibility of environmental degradation as they are the final step in the food chain.
How Globalization will affect our world politically
As the world fasts paces forward, politics have both an internal and external effects on the individual countries and their neighbors. This is due to the common interests that have existed between some countries in the world coming from the same regions or have same strategic relationships. According to Leo (2007)There has been, in the past, the quest to come up with a network of relationships by this countries with mutual interest that ensure a completely effective way of operation which is referred to as Political Globalization. This is an aspect whereby countries form a government like arrangement of how they carry out their affairs hence a harmonious and peaceful coexistence. These affairs are reflected in the economic or social settings whereby countries of sovereignty tend to check the effect of their domestic key decisions and how they will affect negatively or positively their neighbors. There is an aspect of signing mutual agreements on trade among those countries’ common trade blocks and other economic arrangements that necessitate a progressive advancement the partners. These issues will in future have a global effect that is bright and prospective due to the mutualisms that will be of great economic and social benefits. However as the world embraces this aspect of Globalization, there questions that are already been cited. For instance, how will there be harmony when the economic divide of certain countries is very wide? How will there be trust especially when some countries don’t share the same political ideologies? How will the deeply capitalistic countries manage to be in the same with the liberal or socialistic countries? With the world being a global village as the days go by, it’s clear that most of the affairs of individual countries will no longer be held domestically but will be globalised.
Leo (2007) also notes that in most of the issues in the world today, economic and social aspects have been globalised. Governments are moving to the area where there is global integration in all aspect that includes economic mergers, military alliances just like in the past wars and ideological advancements. Economically, Political globalization is witnessed through the creation of major economic pacts and alliances such the European Union and the East African Common markets recently signed. There is a common market that exists thereafter that ensures flow of goods and ready market for all these goods. Monetary alliances that seek to merger interested countries have been successful such as the International Monetary funds that have been handy whenever aid is handy (Welfens, 2001).
An issue such as security has ceased to be a national responsibility as the dimensions have emerged concerning the security aspect. Welfens (2001) also notes that these issues include terrorism and other advanced aspects such web based insecurity. Governments with superior military aspects merge with those little capability but vulnerable to mutually fight of such vices. National security will be an issue that will be soon be of international consideration as there is a great exchange of information of globalization. There are common research facilities and weaponry being set up by countries such as the united state and South Korea that seeks to stop sympathizers of terrorism. Cyber crime is another aspect of international security issue that has been highlighted that Political globalization need to resolved by making of common policies.
The issue of political globalization doesn’t only affect directly elected governments per se but also the civil society and NGO’s. This means issues of human rights and civil issues humanitarian issues also are soon going to take an international perspective. International bodies like the United Nations that have the best examples of civil political globalization.
How globalization will affect our world culture
According to Suárez-Orozco, & Qin-Hilliard, (2004)Culture is the integrated pattern of human knowledge, belief, and behavior that is both a result of and integral to the human capacity for learning and transmitting knowledge to succeeding generations. Culture consists of institutions taboos, tools, beliefs techniques, ideas, rituals, customs ceremonies and symbols, codes and works of art. Every place has its own unique culture but globalization strives to integrate them into one global culture and thus the following effects.
Globalization will lead to the transnational circulation of ideas, languages, or popular culture through acculturation and this will set preconditions for successful artistic creativity; when two cultures trade with each other they tend to expand the opportunities available to individual artists. For instance in the music industry, looking at the Cuban music or reggae music, we find that Cuban music was produced largely for American tourists who went to nightclubs in Cuba in the 1950s but courtesy of globalization this music is being produced globally (Rothenberg, 2003).
Food forms a fundamental aspect of the people’s culture and every community is associated with a particular type of food. There are Japanese noodles for the Japanese, meatballs for the Italians, curry and exotic spices for the Indians, burgers and fries for North America, and Africa is well known for its meat roasting culture (Rothenberg, 2003). Due to globalization, all these foods can be served anywhere in the world. McDonald’s, a North American company is a good example of this kind of globalization. The company has influences culture around the world. Its influence can also be said to be on the rise. .Currently, it is a global business with about 31, 000 locations worldwide.
World literature from bookstores, the cinema as well as printing press worldwide are examples of how globalization has made different countries, different regions, more creative and given us more diversity. Countries do look more the same, but they look more similar in the sense of offering some commonly diverse choices. Today you can buy sushi in either France or Germany or buy the kiondos in either Kenya or the UK. This makes France and Germany or Kenya and the UK more alike, yet this is closer to being an increase in diversity than a decline in diversity in individual countries.
Another example brought about by globalization is the usage of Chinese characters in tattoos (Rothenberg, 2003). Despite their lack of social acceptance in China, tattoos remain popular among today’s youth. Also, there is no comprehensible meaning in these characters, making this an example of cultural appropriation
However, one of the problems of globalization and cultural borrowing and cultural mimicry is that they depend, not on isolated cultures, but on authentic cultures. There is a great difference between getting crepes in New York’s Les Hales and getting them in Dijon. The different is very clear despite the fact that you get something close to the original crepes. In this globalization is therefore difficult to maintain the authenticity of these aspects of culture we are borrowing.
Today, the internet plays a pivotal role in this globalization by broking down the cultural boundaries cross the whole world. This has been enabled by making it easier for the people to communicate. Instantaneous communication between people anywhere in a variety of digital forms and media has allowed interaction and communication between people with varied lifestyles and diverse cultures. Where language has been a barrier, photographs have helped in passing the message.
How globalization will affect our world legally
Increased inter-dependency and cross border transactions as a result of globalization will lead to a significant change in the legal structures of many nations. Legal sectors governing most sectors of the economy will have to be reviewed to accommodate the changes and challenges that arise from globalization. Traditionally, nation states viewed themselves as being self sufficient in terms of providing the basic needs of their human population; globalization however poses a more serious challenge to factors beyond their control such as the global financial market (Kaufmann, 2007). A conflict between foreign and domestic policies is bound to occur as a result of globalization. Nations have to make a transition and integrate local with foreign policies.
Government sectors governed by legal frameworks such as public health are influenced directly by globalization. In the US for example, the signing of the North American Free Trade
Agreement (NAFTA), in 1994 led to increased cross border business transactions between the US, Mexico and Canada. These relations have brought about America’s health policies under much scrutiny. It is argued that the Mexican impoverished communities residing along the border get a raw deal in regard to health services and facilities as compared to Americans. NAFTA does not include a health chapter although it is seen as a major model in globalization in most parts of the world. Public health like environmental pollution and vector control does not recognize national borders and policies governing it should not be made in isolation of minority groups who need it most (Kaufmann, 2007). In an effort therefore to solve international health problems, socio-cultural and political interdependence should be addressed on the same basis as policies that promote international trade.
Human rights are universal in nature and globalization calls for practice and acceptance of these rights regardless of people’s cultural backgrounds. There have been debates particularly in Asia regarding their values which lean towards the Confucian philosophy and the global view of human rights. Confucian values have been seen as anti- democratic by most people as favor authority over individual liberty. Asians would welcome change as a result of globalization but this will mean they move away from values that have formed and enforced their rich culture for many years.
Labor laws of varous countries will be forced to change in order to accommodate challenges brought about by globalization. Laws have to be flexible enough to counter the effects of change in labor markets. Kaufmann, (2007) also notes that Globalization has increased completion among states and has promoted importation of labor across borders. Legal frameworks have to device means to ensure ample working conditions for foreign workers in regard to their work permit issues. International trade levels also require states to formulate labor laws that conform to international human rights.
As a measure to counter the negative effects of globalization, scholars around the world are promoting cosmopolitan democracy. It is a form of democracy which views world politics in a manner in which citizens are not hindered by national borders in their democratic participation. According to Archibugi (2008), citizens world wide should be involved in the making of global choice and decisions. He is one of the best examples of individuals advocating for cosmopolitan democracy and this comes out clearly in the many publications and research that he has dedicated towards achieving his dream.
How globalization impact on our world ethically
Nations world wide have made decisions that are in their best interests, this has been the basis of their ethics. Globalization calls for formulation of policies that go beyond national borders and thus change countries’ ethics perspective due to cultural differences. The Aspen Institute (2008) noted challenges in ethical globalization arise due to environmental and social objectives that differ from one area to another. The idea of a global community means that issues such as global warming, climate change and global markets are looked at from an unbiased global perspective.
According to the Aspen Institute (2008) environmental conservation has been a major concern for the international community. Policies and measures to guard against environmental pollution and global warming are becoming universal which means they have to be practiced world wide. New innovations such as the introduction of hybrid electric vehicles are strategies to reduce reliance on petroleum which is a major environmental pollutant. Concerns over the environment mean that countries’ greenhouse gas output quota are allocated fairly and not in regard to a nation’s economic prowess as it has been with the US in comparison to China and India.
Myers & Singer, (2002) asserted that Imbalanced economic growth in the world is evident in the world as a result of globalization. The developed nations have continued to amass greater wealth due to international trade which has been counter productive to developing countries. The gap between richer and poorer economies is widening by the day. Third world countries are beginning to question the benefits they accrue from association with developed countries in the name of globalization. It is therefore an issue of ethical regulation of the international market to check the operations of both developed and developing nations to ensure equity in all market sectors.
Humanitarian intervention is also an emerging ethical issue due to globalization. Nations are joining international organizations such as the United Nations (UN) that come in handy in times of any national crisis. It is becoming a common norm for nations such as the US to intervene in crisis such as genocides. The UN has been in the forefront in brokering peace deals among nations and also uniting countries that have undergone civil unrest and wars. This trend which has become more popular does not show any signs of slowing down in as effort to integrate the world into a global community. The international criminal court formation is one of the major steps towards controlling the negative effects of globalization. The idea of nations pledging themselves to such institutions is also an important effort in protecting human rights in line with international standards.
In sum globalization like a double aged sword, with numerous benefits and numerous negative aspects as well. The world at large stands to benefit economically from availability of a variety of commodities from different parts of the world, mobility of factors of production, increase environmental interdependence and corporation to end harmful environmental practices such as poaching and trade in endangered species. Political the world stand to benefit fro political interconnectedness as well as cultural through the integration of different cultures and languages Worldwide legal systems may become unified again crimes such as terrorism and high level of ethical responsibility may also be experienced. Despite all this benefits, the negative effects of globalization are equally many; economic marginalization, unemployment, environmental pollution and degradation, global warming and climate change, terrorism threats, imperialism, cultural degradation, and others. In this regard it is upon individual, nations and organization to decide on what aspect of globalization should be embraced of rejected.
Related Business essays
- Organic food business
- Personal Model of Leadership
- Toyota vehicle recall
- Elements of a valid contract
- Can organizational cultures be changed
- Characteristics and Environments of a Human Service Organization Paper
- The Strength and Strategy of Successful Cell Phone Providers
- Career Development Plan Summary
- Cell Phone Company
- Leadership Styles and Communication