Formal memo(globalization) - Essay Example

February The Chief Executive Officer Dhana Avva February 15, Globalization Purpose To fully understand how the world is changing as far as concerns business, finance and the interdependent nature of our society (Steger 2009). To agree that globalization is a term that needs a definition that suits the 21st century, because it is still an elusive concept unless real-life examples are found. Global reach depends very much on rapid communication, and also easy exchange of currencies, ideas, goods and services.

It also depends on comprehension, so language is also involved, and with it, coexistence of all the cultural and national differences the world encompasses (Steger 2009). The concept also relies of consensus and cooperation among nations (Boudreaux 2007)BackgroundThe world globalization was already used in the 1960s, but its true meaning was not sought until the 1990s, and especially after 9/11. Its meaning is not altogether clear to everyone. Perhaps the best definition was found by the Carnegie Endowment website: ‘Globalization is a process of interaction and integration among the people, companies and governments of different nations, a process driven by international trade and investment, and aided by information technology’ (Boudreaux 2007).

Most of the world’s cooperation is unintentional and unstructured, and comes in the form of trade, and perhaps the cooperation of providing aid to poor countries, or that following some catastrophic disaster. Many think of globalization as something that causes competition among the world’s countries and their commerce, trade and exchanges. What many hope that globalization will bring is a beneficial coordination of the plans and actions of millions of people around the world, as a system of global cooperation.

Healthy competition combined with a model of cooperation when it comes to resources, the environment, pooling of services, and provision of goods, seems like a great combination. A vast web (Boudreaux 2007) of cooperation seems plausible when we consider the speed of modern transportation and communication. It is necessary, to minimize ecological impact.An Adaptable ModelTo find a globalization model with a built-in measure of flexibility that will take us onward, a number of aspects must be made clear and acceptable by the majority of countries.

These include:Environmental concernsRationalizing resourcesMaking trade and commerce fair to everyoneSpreading development outside the first worldReducing some countries’ burden of debtDemocratizing globalization (Stiglitz 2007)Target Audience The readings I plan to make have a potential of several deductions and conclusions, which will be of great interest to companies, trade groups, environmental movements, industry leaders, social forums, commercial syndicates and lobby groups. My proposal can reach a number of these, of which I shall make a list.

To have the greatest reach, a website with relevant information would be a good goal.Sources to be usedThe best sources among many that I have found about this fascinating and important subject are:1. Manfred Steger’s introduction to the whole concept, called Globalization - A very short Introduction. It gives some excellent definitions and information to the new student.2. A book called Making Globalization Work, by Joseph Stiglitz, which gives some practical insights, especially into the global financial system and the problems of the global reserve.3. Globalization, a book by Donald Boudreaux, which provides some relevant information about its history, and how it really affects countries, economies and people, some of whom have never heard the word and do not know what it means.

Sources CitedBoudreaux, Donald J (2007) Globalization GreenwoodSteger, Manfred B (2009) Globalization - a Very Short Introduction Oxford University PressStiglitz, Joseph E (2007) Making Globalization Work W.W. Norton & Company