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Globalization or Internationalization - Case Study Example

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The paper "Globalization or Internationalization" presents that with the advent of the internet and massive computing systems that are nevertheless small in physical scale, the world is becoming an ever-shrinking globe. National boundaries are becoming blurred as people in India begin working…
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Globalization or Internationalization
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Download file to see previous pages The International Monetary Fund defines globalization as “a historical process” involving “the increasing integration of economies around the world, particularly through trade and financial flows” (International Monetary Staff 2002).
It is typically viewed as a necessary and unavoidable key to future world economic development. Others have denounced the process as it seems to increase the current inequalities that exist within and between nations, threatens the employment and living standards of individuals in all countries as talent is pulled from each and low-paying jobs are farmed out to others and prevent the natural social progress with which each of these countries has been involved. Although this process is unlikely to change and reversal seems impossible, considering the effects this process has on the individual as well as the nations and organizations involved, it is difficult not to agree in large part with the statement, “Whether we call it globalization or inter-nationalization, very few people, organizations or states stand to benefit as a result” (International Monetary Staff 2002).
Changes in the way in which organizations conduct business have been rapid and wide-spread as the globalization concept has been introduced. It is the inherent nature of the marketplace to increase efficiency within the workplace by constantly striving to produce the most products with the least expenditure of resources. It is this concept that has driven many corporations to join in the globalization process, frequently outsourcing many of their activities and production processes to less developed countries in which this process is less expensive and requires fewer restrictions, licensing, and/or controls. (Mattoo, 2000) “Global markets offer greater opportunity for people to tap into more and larger markets around the world. It means that they can have access to more capital flows, technology, cheaper imports, and larger export markets” (International Monetary Fund Staff 2002).  ...Download file to see next pagesRead More
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