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Introduction To Globalization: Group 1 Bsba-Iii C

Globalization is the process by which the world becomes increasingly interconnected through social, political, and economic activities that cross international borders. It affects industries, financial systems, economies, politics, laws, languages, competition, culture, the environment, and technology on a global scale. While globalization allows for greater connectivity between people and access to larger markets, it also increases competition and can widen wealth gaps between rich and poor nations. Overall, globalization integrates the world's countries into a single global economy where each country relies on others.

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72 views6 pages

Introduction To Globalization: Group 1 Bsba-Iii C

Globalization is the process by which the world becomes increasingly interconnected through social, political, and economic activities that cross international borders. It affects industries, financial systems, economies, politics, laws, languages, competition, culture, the environment, and technology on a global scale. While globalization allows for greater connectivity between people and access to larger markets, it also increases competition and can widen wealth gaps between rich and poor nations. Overall, globalization integrates the world's countries into a single global economy where each country relies on others.

Uploaded by

Ei-Ei Esguerra
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INTRODUCTION TO GLOBALIZATION

GROUP 1
BSBA-III C
MAUI JOI B. QUIAMBAO

CHRISTINE JOY L. QUIRIMIT

EIRA MAY P. SANTIANO

CAMILLE C. GONZALES

ROBSEL B. NUCUM

JEFFREY Z. PINEDA

TYRON S. MIRANDA
 Globalization is the process by which the world, previously isolated through
physical and technological distance, becomes increasingly interconnected.
It can be described as a process by which the people of the world are
unified into a single society and function together.

 Globalization involves:

 A stretching of, social, political, and economic activities across


political frontiers.
 A growing magnitude of interconnectedness in almost every sphere
of social existence.
 An accelerating pace of global interactions and processes associated
with a deepening enmeshment and the local and the global.

 EFFECTS OF GLOBALIZATION
 Industrial – emergence of worldwide production markets and
broader access to a range of foreign products for consumers and
companies; particularly, movement of material and goods between
and within national boundaries.
 Financial – emergence of worldwide financial markets and better
access to external financing for borrowers; emergence of under or
un-regulated foreign exchange and speculative markets.
 Economic – realization of a global common market, based on the
freedom of exchange of goods and capital.
 Political – Some use globalization to mean the creation of a world
government, or cartels of government ( e.g. WTO, world bank, and
IMF ) which regulate the relationship among government and
guarantees the rights arising from social and economic globalization.

 Legal/Ethical
 The creation of the international criminal court and
international justice movement;
 Crime importation and raising awareness of global crime-
fighting efforts and cooperation.

 Language – the most popular language is English


 About 75% of the world’s mail, telexes, and cables are in
English
 About 90% of all internet traffic is using English.

 Competition – survival in the new global business market calls for


improved productivity and increased competition. Many industries
around the world do the same thing, so industries have to upgrade
their products and use technology skillfully to compete.

 Cultural – growth of cross-cultural contacts; the desire to increase


one’s standard of living and enjoy foreign products and ideas, adopt
new technology and practices, and participate in a “world culture”.

 Ecological

 Global environmental challenges such as over-population,


climate change, cross boundary water, air population, over-
fishing of the ocean and spread of invasive species, among
others can may be solved with international cooperation.
 Technical
 development of a global telecommunications infrastructure
and greater data flow even into the world’s most remote
areas.
 How globalization affects businesses?
 Increasing competition
 Opening larger, more diverse markets
 Sharing technology
 Sharing knowledge
 Promoting a diversified workforce
 Increasing competition - Businesses that contend in the global marketplace
will naturally face competition from companies all over the world.
Consumers demand ever-higher quality and cheaper products, and when
they have a global array of companies to choose from, only those that
evolve to supply what consumers want and need will prosper. This
increased competition means companies must keep up with cutting-edge
developments and stay assertive in the global marketplace to survive.
 Opening larger, more diverse markets - On the other hand, companies that
open themselves up to the global marketplace will naturally find a much
larger market in which to sell their services. Has a Western electric bike
manufacturer found limited success in a country where cars are still king? It
can turn to Asian markets, where population density has led to crushing
vehicle traffic and a huge market for lighter electric transportation. The
ability to discover and cater to niche markets around the world is one of
globalization’s appeals.
 Sharing technology - For countries to be able to cooperate globally, they
must share similar technology and technological infrastructure. The need
for shared technology means that technological advances quickly make
their way around the world.
 Sharing knowledge - Similarly, the need for a centralized base of
knowledge for cooperating countries to work from means globalization
results in a rapid transfer of knowledge. Scientific advances made in
Belgium can be in Japan with the touch of a button.

 Promoting a diversified workforce - Businesses operating globally attract


employees from all over the world. They are likely to draw management
staff from the countries where they maintain a presence and employ
laborers in a country where labor is relatively affordable. Learning to
manage a culturally diverse staff can be both a benefit and a challenge to a
multinational business.

 ADVANTAGES OF GLOBALIZATION:

 People can connect beyond the borders through online


communication.
 People can understand norms of other culture.
 Through globalization, business can run globally and launch
their product worldwide.
 People can get socially awareness about the culture conflicts
around the world.
 The possibility of war between the developed countries
decreases.
 It promotes world peace, (by connecting people to each other)

 DISADVATANGES OF GLOBALIZATION

 Difference in perception can create conflicts.


 Widening of gap between rich and poor countries. (because
most of the rich countries are not communicating with the
poor country even in the era of globalization)
 It increases the level of unemployment in countries as jobs
are outsourced to other countries that pay lower wages.
 As dominant cultures come to the forefront the ethical, moral
and cultural idiosyncrasies of each country of the world are
lost and misunderstood.
 Importance of globalization

Globalization is important because it is one of the most powerful forces


affecting the modern world, so much so that it can be difficult to make
sense of the world without understanding globalization.

ALL OF THESE AFFECTS WORK TOGETHER TO CREATE GLOBALIZATION –


THE INTEGRATION OF THE WORLDS COUNTRIES INTO ONE WORD
ECONOMY – WHERE EVERY COUNTRY DEPENDS ON OTHERS TO BE
HEALTHY AND VIABLE.

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