In many ways the world is becoming one large market than a series of separate national markets. The same goods and services can be found in many countries throughout the world.Globalization is the term now widely used to describe the increased worldwide competition between businesses…
Download file to see previous pages...
In many ways the world is becoming one large market than a series of separate national markets. The same goods and services can be found in many countries throughout the world.Globalization is the term now widely used to describe the increased worldwide competition between businesses. When investment, trade and cultural exchange happen internationally between different countries of the world and consequently bring changes to society and global economy, we call it globalization. This term is most commonly used to describe the effects of international trade but applies to trade of all sorts of industries. Steger has defined globalization as “a set of social processes that appear to transform our present social condition of weakening nationality into one of globalism.” It means to explain that it is not one process but various processes that function at the same time and even haphazardly on different levels and in different dimensions.Global village is a terminology used to describe a new kind of globalization presenting us with an interconnected world and a global collected culture. Globalization affects world economies, political situations, ecological dimensions and cultural identities. Globalization has led to more choice and lower price for consumers. It has forced firms to look for ways of increasing efficiency. Inefficient producers have gone out of business. Globalization has a positive impact on almost everybody as it generally helps to creates greater economic value. Globalization is able to provide equal distribution of the added value. The process of globalization must focus on letting go of the economic self-interest by respecting different religious, environmental and cultural values for the benefit of all classes of people. It must be beneficial for everybody by developing a global world outlook that boosts up the mutual and common values of all cultures. Accumulated forms of communication create images that cross different linguistic boundaries more quickly and conveniently than many goods and services. This global mass culture has entered, influenced and revolutionized the lives of people in modern societies. There are several reasons for this increasing global competition. Free trade agreements and economic unions have reduced protection for industries. Consumers can now purchase goods and services from other countries with no import controls. Improved travel links and communications between all parts of the world have made it easier to compare prices and qualities of goods from many countries. This has further developed as the internet has become more widely available worldwide. Business in every sector of the economy are now striving to enter the global market be it science, manufacturing or entertainment industry (Stimpson, 2006). The economic dimensions of globalization are mostly linked with economic growth of global trade and finance, economic order and multinational corporations and how they affect the formation and functioning of the international economy. It is a known fact that multinationals help in creating jobs and improving employment levels. By the year 2000, they accounted for nearly 100 million jobs created indirectly as researched by the New York Times newspaper of July 2000. It is known as the multiplier effect. When foreign direct investment comes in, both, the multinationals and domestic country become better-off. The company benefits from profits. Domestic country benefit in the form of jobs created, tax revenues generated and capital formation. The USA witnessed its lowest unemployment rate in 2000 in 30 years (Birdsall, Graham, 2005). Globalization helps in sustainable development. It provides the developing nations with much needed jobs and capital as well as equal distribution of income and wealth and help developing countries to escape severe poverty levels. They help improve the education levels, life expectancy rates and infrastructure and future markets in the developing countr
...Download file to see next pagesRead More
Cite this document
(“The various dimension of globalization Research Paper”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1421021-ypwhen-comparing-the-various-dimensions-of
(The Various Dimension of Globalization Research Paper)
“The Various Dimension of Globalization Research Paper”, n.d. https://studentshare.org/macro-microeconomics/1421021-ypwhen-comparing-the-various-dimensions-of.
Globalization leads to drastic changes in social conditions of millions of world’s residents, expressing itself both in constant shifts in global production and the disruption of ‘usual’ cultural conventions. That is why it is necessary to analyze the problem of globalization, so that the overcoming of its drawbacks may be possible.
Moreover, there are assumptions that the economic globalization or integration of nationally based economics to form a single international economy via foreign direct investment, trade or capital flow or technology spread (Appadurai, 2000; Garrett, 2000).
Although the term ‘globalization’ is commonly used in lieu of the term ‘economic globalization’, it has a wider meaning and application in the modern world which covers socio-political and cultural globalization. It is fundamental to have a clear and specific definition of globalization in order to improve sustainable explanations, precise evaluations and effective policies of the same.
Ecological Dimension of Globalization.
In recent times the key word in the major growth and development process all across the world is ‘Globalization’. With more and more opening up of economies, the process of cross border trade activities is taking place, helping organizations to grow beyond the boundary.
Globalization is simply an international process which arises from interchanging of products, ideas, world views and many other aspects of culture. This process has an effect on the culture, on the environment, on the political system, on the prosperity and development of the economy and also on the well being in the societies around the whole world (Globalization101, 2012).
This paper will also show the key events in the world of digital processing from 1930 to 2012. Comparison of 1950s Computers and today’s computers will be addressed in order to see the evolution like Darwin’s evolution of species. Timeline for the evolution of Digital Processing from 1930s to 2012 Involvement of IBM in the history of digital computing started when no computer existed in 1933.
It impacts the general environment and culture in different countries, the processes of trade effect culture and the processes themselves get affected by culture and adapt. (Levin Institute, 2014) Globalization
In addition, the study shall cover the four main dimensions of McDonaldization as described by Ritzer.
The study is very important in discussing the phenomenon of McDonaldization. Furthermore, the study shall highlight the dangers of other companies
For instance, globalization is essential for organizations because it enhances cultural integration and appreciation. This arises when students or workers admitted embrace different cultural backgrounds and they can freely share and
1 Pages(250 words)Research Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Research Paper on topic The various dimension of globalization for FREE!