Definition, Benefits, and Downsides of Globalization - Assignment Example

1) Globalization: A) Definition, benefits, and downsides of globalization? b) Drivers and changes that causes globalization? c) Impacts of globalization in under developed countries? The term Globalization would mean the process of forming global institutions. These types of institutions would be considering the world as a single entity and it would be in stark contrast to regional, local and national levels. There have been trends that have been readily available when we look at global capitalism, trends in consumer tastes, transnational migration, and the online communication that has pointed towards the globalization. There has been a section of people who has been supporting globalization and there has been a section of people who has been opposing the globalization. There have been considerable view points about globalization and that has been the dilemma when it comes to define globalization. There have been many viewpoints that have said globalization as the child of both technology and power. The concept of globalization has been that human societies have been builded into a single system. Globalization could be said as a general process of integrating families into village, villages into a tribe, tribes into peoples, peoples into cities, cities into states, states into empires and the main key could be termed as development by globalization. There has been focus by the globalization in the form of economic finance, capital flows, decentralization that has been happening in the fields of production and world markets. Economic globalization has led to the concept of borderless world and that has been seen as bringing the gap between international economy and local economy. The economic globalization has been seen as flourishing from the year 1990s and Western European integration was seen as the first step in creating an economic globalization. The Uruguay round in the year 1990s saw the development of borderless economy as the GATT and WTO came into existence. The primary aim of the Uruguay round has been to reduce the trade barriers between the developed and developing countries and ways to get over the safeguarding, antidumping restrictions and anti export things. The bad sides of the globalization could be said as of illegal mp3 trafficking and that would mean that there has been counterfeit dollars and other modes of currency used for terror activities. The process of global cities and globalization has changed the economic and social fabric, environment, of large global cities, but has remodeled the spatial structure as well. The outcomes of this process will be differing in very global cities. There have been cases of global cities facing problems like urban life get stifled by the very high rate of economic growth and that can be followed by desertion by companies when financial crunch occurs leading to high unemployment in global cities. It has been seen that culture has been invading the global process very fast. That could be seen as more cds.films, books being exported to different parts of the world and the largest film industry in the world has been the Hollywood and they has been exporting films to all parts of the world, These type of cultural invasion has been taking place because of the fact that English has been used as the basic common language and this has been used scientifically and technically. Internet has led to the spread of the English language and that does mean that culture globalization could be a process that could not be turned back. The people could be either in favor of globalization or could be against it, but globalization would continue.( Sassen, S. ,1994). The international media has been presenting national model as an old fashioned one and there has been wide spread of fashion shows and beauty contest that has been considered as cultural invasion. There has been wide spread use of colas and Barbie doll that has been said as cultural invasion. Trading partners: A) Definition of trading partners and WHY do we need to trade in partners? b) Why it is important to invest in different foreign countries (trade outside borders)? & how? There has been increased trade between countries and that has increased the importance of international trade. The financial and commercial life in the world of international trade is the major share in the world economy and it has been estimated to equal to nine tenths of the world economy. The trade has been said of important element of economics and it has been estimated to cooperate with production to meet the needs of people and that will increase the prosperity of the world.( Davis, Diane E. ,2005) The definition of trading partner could be said as” One of the two or more participants in an ongoing business relationship”. There has to be an investment that has to be made outside the country for a business organization and that would make the organization a multinational corporation. The company could be either having a business head quarters situated in the main office and branches in other countries or the company could relocate the headquarters to other countries than the countries of orgin.The trade that has been done in this way would be suggesting an expansion of business by tapping markets outside the country of orgin.That would enhance the brand value of the company. For example Coca Cola had a prime brand value in USA but it was enhanced further when the sales and production started expanding outside America. There has been more sales of Microsoft Windows beyond America. A country that has been producing more coffee beans like Brazil has been exporting coffee powder and beans for long time and that has helped the country to earn the much needed foreign exchange value. The Middle East regions prosperity has been due to the fact that they had been exporting large quantities of oil and that had helped the countries to grow. Countries like India have been exchanging knowledge economy like Information technology and Business process outsourcing and that has helped the country to get the much needed foreign exchange. The international trade has helped the countries to get the much needed foreign exchange and the trade has to be done by following the rules of the nation in which the trade has been done. For example a trade that has been done in China has to follow the general international trade and Chinese trade law and that means the foreign company would be looking at trade. There would be International financial institutions, law firms, corporate headquarters, international conglomerates, and stock exchanges like the New York Stock Exchange that would be having influence over global economy and that has been influencing the business by being in the main place. There will be also cultural scene and these can be attributed to film festivals like the Berlin film festival, Toronto international film festival and so on. There will be also several media center that has reach all over the world like the BBC, CNN, Reuters, New York Times, Agence France-Presse and so on. List and discuss the cultural components There has been wide spread accusations that the culture has been spreading globally and that has been eroding the moral values globally. But as of now it has been seen that the world has become more of sharing the culture across and that could be termed as an example of Yoga being practiced globally and jeans being accepted as a part of culture globally.( C. Hewitt de Alcántara ,2008) In normal terms cultural goods could be said as examples of books written by International Authors in English, magazines of big media houses, multimedia products of latest computer big companies like Microsoft, software like the Windows, Google, records, CDs,films from Hollywood, videos, audiovisual programs and fashion designs. Cultural services could be termed as libraries, documentary centers, museums, theatres, and orchestras. There has been circuses in the past but has faded out to digital press, cable news broadcasts, and satellite broadcasts.( Keating ,1997) In the global economy, culture has been termed as a product of rich and powerful countries and in scientific and cultural areas, the language of dominant cultures has been increased by means of the media and the internet and becomes the common means of communication. That means there has been change in the present day communication that has become more English oriented when compared with past generation. There has been more folk tales in the past in local language when compared with present day as that could be seen as the big sales of Harry Potter throughout the world.( J. Friedmann and G. Wolff ,2002) The impact of cultural components in international trading There has been many concept of international trade and that would mean that there has been more carefull.Like in the Japanese culture it is awkward to get back on the schedule given and that would tarnish the image. There would be a bad image for the country if the country is more corrupted. There would be a different culture that would be in Middle East when compared with other countries. The Arab culture would be more conservative and that would mean that there has to be a different way when dealing with women executives of Arab. The Arab culture would be more family oriented and that would mean that more family questions would be asked by the Arabs. There would be a commonality in international trade and culture that every business organization would be interested in fairness and accountability of trade. Discuss spoken and in unspoken languages and its impact on business trading? (175 words) The international trade would be usually following the language of business and it has been identified as English. There has been a trade and contract agreement that has been signed in the language of English and that would be including when entering into agreement with a Chinese company or Japanese company. Steps would be taken to ensure that both Chinese and Japanese companies would be engaging some translators whose role would be to get into bilingual mode. There would be many companies who would be interested in entering into written agreement and there should be clear understanding of sign languages that has been used in the culture. There would be certain cultures that would be saying that nodding of head would mean that the answer is yes and there would be certain cultures in which the nodding of head would mean that the answer is no and so on. It is better to engage the services of bilingual before signing the agreement. (Jessop ,1998) What is the best ways to train employees for the cultural components of West & European countries ? Today trading partners are keeping peace in the world; the countries are not likely to attack the trading partners and there has to be training under West and European countries. There has to be training of classroom that has to be taken in Western Culture and that would mean the etiquette of business people and the western culture should be taught well in the training period. The best method of how to behave in presentations and how to behave to guests has to be done by both practical and theoretical training. There has to be a preparation of how the business is regulated and that would include the law agencies under which the organization would be functioning. There has to be a regulation of environment, and other factors that would be affecting the trade flow and that means in certain countries plastic bags would not be allowed. Why do we need to know the cultural components of our trade partner or future partner The reason for knowing the cultural components is that because a trading country or organization would be having a different culture when compared with the home country. That would be creating some tension in the mind of the multi disciplinary team members and that has to be avoided. The best possible way to avoid conflict in the team would be to understand each other’s cultures more and that would help to create an amiable atmosphere for functioning. Reference C. Hewitt de Alcántara (2008) “Uses and abuses of the concept of governance,” International SocialScience Journal, 155, 105-113. Davis, Diane E. (2005) “Global Context: A Brief Intellectual History,” International Journal of Urban and Regional Research 29, 1:92-109 J. Friedmann and G. Wolff (2002) "Global formation: an agenda for research and action," International Journal of Urban and Regional Research, 6, 309 - 344. Jessop (1998) “The rise of governance and the risk of failure: the case of economic development,”International Social Science Journal, 155, 29-44. Keating (1997) “The invention of regions: political restructuring and territorial government in Western Europe,” Environment and Planning C, 15, 383-398. Sassen, S. (1994). "The urban complex in a world economy." International Social Science Journal, 139, pp. 43-62. Read More