globalisation assignment

Globalization Essay

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The word globalization can be defined as the world greatest and most important force, which has an impact on economy (Mostert, 2003). In some cases, globalization can again be regarded as a whirlwind of basically relentless changes, which sometimes can leave most governments helpless and full of economical problems.

In actuality globalization, globalization has contributed to economic developments in most developing countries, which are also regarded as the founders of globalization and its implementation. In my own opinion, I hold the view that the globalization process is more beneficial to developing countries than it is to developed countries.

It is ’s clearly evident that globalization has done more good in terms of development specifically in developing poor countries. In actuality, the concept of free trade liberalization has created a favorable scenario where those who possess a lot of capital are able to disburse to those who don’t have in form of wages and salaries.

In the real sense, the wage, be it exploitative or not, will at least raise the productivity or development of the individual persons earning it. It is clear that in many poor developing countries, there is access to cheap labor and various types of natural resources (Horwitz, 2010).

This attracts international firms to do business in such regions, based on this trend, for instance, we can already see how globalization is beneficial to both developing countries and developed countries. This is because developing countries benefits from increased job opportunities etc while developed countries benefit from cheap labor and resources.

The fact that more western countries established more and more companies in the developing countries was expected to believed will help accelerate their profits by taking advantage of the available as a result of the availability of cheap labor and the presence of natural resources found in the developing countries (Horwitz, 2010).

On the other hand people in the developing countries count on the development as a rare opportunity for improving infrastructure and general development in the country. In addition, the local citizens are also able to gain free knowledge and skills when working for companies owned by developed countries. Even though the wages given you are is considerably low, it had a greater impact on the citizens of developing countries who have used it to boost their living standards (Horwitz, 2010).

Furthermore, it has been postulated criticized that the developed countries would become poor when using their capital on investments in developing countries but the investment of these funds was necessary to spur further growth of the developing countries (Curran, 2010).

This strategy while it has facilitated growth in developed countries because of the generated huge profits has enabled these countries to quickly grow experience accelerated growth and also catalyzed proportional economic growth in developing countries.

I posit believe that even though the developed countries are exploitatively using the developing countries for acquisition of cheap raw materials and labor, I strongly support the fact that in at the long run, the beneficiary would be the developing country since these countries would have remained undeveloped for decades if it were not for the globalization revolution.

This is because, out of the mutual relationship perceived to exist between the two parties, citizens of the developing countries also benefit from wages, formal knowledge, and experience that they gains which they continue to apply in their local context.

The more free trade continues to exist between the western and developing countries, the more the third countries country keep benefiting from the relationship. This has enabled heavy investments setups to be established in the third countries by the rich western firms.

However, it remains true that the truth is that no matter how the rich western firms improve on their profits making, most of their money in at the long run is again spent back to fund more investments or exploration for better technology most of the time in the same developing or undeveloped countries (Horwitz, 2010).

Those who refute this claim argue that as far as the western countries (who are always considered to be highly developed, and the first world countries) keep on investing more and more of their money pumping millions of their money on investments in the developing countries, their interest rates still appreciate they still appreciate their interest rates and they are also able also have time to explore and improve on new technological developments (Curran, 2010). This opposition can be considered to be factual.

However, only that it is not strong enough to counter counsel the fact that, the more as far as the developed countries continue to invest and expand their trade boundaries through investments, the more the citizens of the developing countries benefits. This is because they will benefit from this contact with the first world be informed of new things reducing their level of primitivity through the formal and technological knowledge, as well as the and practical skills that they gain.

While I don’t wish to claim that This hardly means that the developed countries don’t are not benefiting as well., The proportion of their benefit however is not as much as that gained by the developing countries because they mainly benefit in terms of cheap labor and raw materials as we have already seen

Additionally, as a result of globalization, free trade has managed to promote international peace since it is obvious that countries trading together have got a mutual interdependence, which reduces cases of global conflicts. Opponents of this idea counter strongly oppose this argument, although there are some countries though by positing that even though some counties are being good trade partners, they are perpetually involved in conflicts mainly over right to resources (Curran, 2010).

In addition to this, some developed countries, due to hunger for raw materials, will opt to fund rebel groups within the developing countries so as to destabilize their governments by causing chaos and security instability within the country which will give them the opportunity and thus gain free access to exploit such resources. A good example of such a situation is currently happening in the Democratic Republic of republic of Congo in Central Africa.

But after reviewing this argument, certain weaknesses in its formulation become evident. I totally disagree with this argument For instance, given that globalization cannot be solely blamed for this form of conflicts. Historically, before globalization came into the picture, there were many civil and religious wars taking place between communities in the developing countries.

In fact, one might be tempted to argue that the emergence of globalization has actually reduced the rate of such conflicts if the present trend is anything to go by. For instance, because of globalization, interregional trade was established., This free trade and interaction between countries has promoted mutual friendship which has in turn and this has greatly reduced the former incidents of war between countries.

Through globalization many developing countries have gradually increased their wealth and accelerated modern development. This is because of free trade and accessibility of loans, which has resulted in to economic growth in most developing countries. As a result of economic growth, citizens of developing countries can now easily access funds to finance modern facilities and systems of education to reduce illiteracy.

Those who are against this idea considerably agree that globalization has brought increased rates of economic growth. However, their argument point at inequalityies in development as a result of trade among many nations. The rich countries, for instance, set up trade laws primarily to benefit themselves. them only Partly due to these laws, citizenry from third world countries continue to experience worsening economic conditions. such that only the poor people who will be left out worsening their situations; this is partly true (Curran, 2010).

The richest countries are claimed to be the ones more involved in open global economy, which is quite unfair for the poor countries, which have been sidelined. The western countries use openness as a methodology employed to boost their economy at the expense of poor and developing countries.

A recent research by Oxfam revealed that most developing countries embrace openness as a trade strategy ies copied from western countries yet they end up being poor or have achieved very little. The best example of such a scenario is being Haiti, which who threw open its their economy and is are the most poorest country is in the world (Curran, 2010).

This is because of poor interpretation of the word openness, which has two meanings. It either refers to economic outcomes on imports and exports or it can also refer to the government policy of opening up and increase the exportations (Curran, 2010). To a certain extend extent, this argument can be considered to be true but one must also understand that the policies of the developing countries and politics also contribute to this outcome.

But globalization has also benefited most developing countries in terms of trade. The formal trade systems established in developing countries by the western countries have made many local countries to abandon their indigenous systems of trade. For example, barter trade was abandoned when countries crossed their boundaries for internationally trade. It is in such venues, where most developing countries developed international friendship.

As a result, they benefited from loans rich countries since and banks were all willing to guarantee the developing countries’ loans because trade goods from developing countries could be used as collateral (Lowry, 2010). As a result, the people’s living conditions have gradually improved, including better salaries to the locals and also promoted international peace.

Thus, we can see how trade can be a powerful tool for spurring prosperity and poverty reduction. Nevertheless, the current trade rules set up by western countries are very unfair; this is because, these is trade rules have been deliberately designed as a tool to oppress the poor and developing countries for the benefit of the developed countries. It is unfair to claim that trade is free yet all the rules have been rigged up only to benefit western countries (Curran, 2010).

For example, a poor African coffee farmer will at no time bargain with a big European coffee conglomerates over world coffee prices; This is a case of a buyer dictating the price at which they will buy instead of the other way round. As an effect of globalization, it is only the rich who benefits from these is trade rules and for it to work for the poor, then it must be made free than it is currently (Curran, 2010).

Free trade is always considered to be necessary but not sufficient for the countries’ development. One of the most progressive projects in the human history 200 years ago was the attempt to completely open up the whole world to free trade as this would empower anyone to have free access to goods and people’s services anywhere even in developed western countries (Horwitz, 2010). Such policies really enabled most people to best use their local knowledge towards their individual benefits. In At the long run, many people from developing countries have been the greatest beneficiaries; this is so because third world countries are always considered to be behind in terms of development.

According to the World Bank “further integrations into the world markets, better functioning of the internal markets and the rising demands of many commodities,” are some of the economic growth being experienced by most developing countries as a result of globalization (Lowry, 2010). In summary, it is evident that most developing countries are taking advantage of developed western countries, which are through with their economic development to seek for technological support and modern systems of medical treatments.

As a matter of fact, globalization reduces the rates of mortality such that a lot of resources can be availed to fight some of the most killer diseases that burden most developing countries. International friends will also be available to help reduce mortality rates in the developing countries whenever there is a disease outbreak through humanitarian initiatives, which are concepts of globalization (Hoffman, 2010). This further shows how globalization has benefited the developing countries most.

According to Lancet, the main substantial proportion cause of deaths among many infants is malnutrition. that states, “When a developing country gets more and more wealthy, it automatically depicts that citizens there will be less likely to be malnourished” (Lowry, 20101). Furthermore, the wealth will enable the government to improve on infrastructure, increase access to clean water, medical facilities, and practice good sanitation. This means there will be few cases of diseases, malnutrition and the mortality rate will be highly reduced (Lowry, 2010).

On the other hand it is not logical to claim that, where there is wealth there is no death since malnutrition for instance is not the only cause of death as there are many other genetic complications, accidents, parental carelessness and other diseases like AIDS which can cause death.

But since poverty is the biggest cause of deaths increased income will always empower people to seek better treatments and medical checkups. Money will also enable one to access clean water and balanced diet, which are some of the preventive strategies used globally to reduce disease prevalence.

Based on the evidence that we have so far reviewed here, it is clear that globalization while it has benefitted developed countries has principally benefited developing and developed countries. Indeed, it is only with the advent of globalization that major strides in economic development has been able to be achieved by majority of countries world over, majority of which were in the category of the poorest countries.

Curran, D., (2010). Globalization does not benefit developing nations .

Hoffman, M., (2010). Job losses and perceptions of globalization. Journal of wWorld tTrade . 2010. 44 (5): 969.

Horwitz, S. (2010). Globalization benefits developing nations .

Lowry, R. (2010). Globalization is good for the poor of the world .

Mostert, J. (2003). The impact of globalisation on developing countries, 35. Proceedings from ESSA conference 17 –19 September 200. Somerset West . Web.

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• The Toyota Engineering and Manufacturing Operations
• Globalization and the Economics of Child Labor
• Globalization and Development
• Globalization Arguments and Impacts
• Human Indexing of Citations in MEDLINE
• Global economy during the late nineteenth and early twentieth century
• The Intellectual Capital in Globalization Practices
• Globalization as a positive factor
• Negative Effects of Globalization in Developing Nations
• Effects and Nature of Globalization
• Chicago (A-D)
• Chicago (N-B)

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Browse Course Material

Course info.

• Prof. Ian Condry

Departments

• Global Studies and Languages

As Taught In

• Globalization
• Media Studies
• Cultural Anthropology

Learning Resource Types

Topics in culture and globalization, assignments.

There will be four significant writing assignments: two 5-page essays (due in Weeks 5 and 9), and a 7-8 page final project due on the last day of class. You will have a choice of essay topics, or with the approval of the instructor, they may be developed from the issues raised in the weekly discussions. I am happy to look at preliminary drafts of papers, but except for unusual circumstances, I do not accept rewrites. I would also encourage people to make use of the Writing Center as it is an excellent resource.

Short Weekly Assignments

Depending on how the class is progressing, I reserve the right to assign short weekly assignments, such as brief writing exercises, or to ask certain students to prepare discussion questions, or to lead discussion of the readings.

Student Presentations

I would also stress that student presentations form a key component of the course. Students will be asked to make short presentations, either formally or as part of discussion, throughout the term as a way of delving into the readings, films, and lectures. I encourage you to use such opportunities to introduce the class as a whole to examples of culture and globalization that may not be directly treated in the reading assignments or lectures.

With a topic like “Culture and Globalization,” there is clearly no way for a one-semester class to be comprehensive, nor give a full overview of the issues involved. Instead, we will focus on developing the analytical tools necessary to unravel some of the complex economic, political and cultural changes of the contemporary world with respect to globalization. In order to accomplish this, the course will rely to a large extent on the work of you, the students, to bring concrete, up-to-date examples which we can use to assess the theoretical readings and reconsider their conclusions in light of our examples.

Below are assignments due throughout the term.

Diamond argues that the conquest of the Americas resulted from dramatic differences in the power of Europeans over people less endowed with guns, germs, and steel. In the articles assigned from Media Worlds , we see examples of the periphery attempting to use media to confront certain contemporary differences in cultural, political, and economic power. When do such efforts seem to work best and why? Write a short commentary suggesting one (or at most two) things that seem to make a difference in using media to promote political, economic, or cultural goals.

Week 2: A Pre-History of Globalization: Guns, Germs, and Steel

Reading Due

Greider, William. “The Real Cancun: WTO Heads Nowhere.” In The Nation. Sept. 22, 2003. Pp. 11-20. (please read related articles in the packet too).

Diamond, Jared. “Preface: Why is World History Like an Onion?” In Guns, Germs, and Steel. Pp. 9-11. (Handout in Class)

———. “Prologue: Yali’s Question.” In Guns, Germs, and Steel. Pp. 13-32.

———. “Collision at Cajamarca.” Chapter 3 in Guns, Germs, and Steel. Pp. 67-81.

———. “Hemisphere’s Colliding.” Chapter 18 in Guns, Germs, and Steel. Pp. 354 - 375.

Beynon, Dunkerley. “General Introduction.” In Globalization: The Reader . NY: Routledge, 2000. (Handout)

Film: Trobriand Cricket (50 min.) and Discussion.

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• Globalisation Essay

Essay on Globalisation

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is connecting in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. 

Globalization began thousands of years ago when people and companies bought and sold in distant lands. In the Middle Ages, Central Asia was connected to China and Europe via the famous Silk Road. After World War II and the last two decades, governments of many countries have adopted free-market economies. They have greatly increased their own production potential and created countless new opportunities for international trade and investment. New routes and means to transport goods have been discovered, which has allowed the people to expand their business easily and efficiently. 

The government has reduced all trade barriers and concluded new international agreements to promote trade in goods, services and investment. This profitable action has created opportunities for international trade. In foreign markets, companies with these new opportunities set up new factories and establish production and marketing relationships with foreign partners. Hence, Globalization is defined as an international industrial and financial enterprise.

Overview of Globalization

Globalization means the assimilation of economics and societies through the flow of information, ideas, technologies, goods, services, capital, finance, and people. The real meaning of Globalization in a broad sense is connectivity in all aspects of human life. It is the process where the businesses or other organizations expand international authority or start operating on an international scale.

How the Existence of Globalization Came Into Being?

Globalization had started many thousands of years ago when people and corporations were buying and selling across lands at great distances. In the middle age, Central Asia connected with China and Europe through the famed Silk Road. After the Second World War II and during the last two decades, the governments of many countries have adopted free-market economic systems. They increased their own productive potential immensely and created innumerable new opportunities for international trade and investment.

The governments have reduced all barriers to commerce and established new international agreements to promote trade in goods, services and investments. These beneficial measures gave rise to opportunities for global trade. With these new opportunities in the foreign markets, corporations established new factories and started production and marketing alliances with foreign partners. Hence, Globalization is defined as an international industrial and financial business structure.

Advantages and Disadvantages

The frontiers of the state with increased confidence in the market economy and renewed policies in the private capital and resources, a process of structural adjustment spurred by the studies and with the support of the World Bank and other international organizations have started in many of the developing countries. Globalization has also brought in new opportunities to developing countries. Greater access to developed country markets and technology transfer has promised to improve their productivity and higher standards. 

At the same time, Globalization has also created challenges like growing inequality across and within nations, instability in the financial market and environmental deterioration. Globalization is a fascinating exhibition that can be understood as a global system of competition and connectivity. It has created tough competition among countries and global corporations.

Impact of Globalization in India

The British Colonial rule had destroyed the self-sufficient economy of India and left India to be the poorest Independent country. Our first Prime Minister gave preference to a mixed economy to boost the economic condition of the country. Public sectors were set up along with the private enterprises, but because of the socialistic model of the economy, the new strategy did not produce profitable results. Due to this, a number of public sectors became sick and the growth rates of production began to fall. 

During that time, the poverty of the people in India was increasing at an alarming rate and because of low domestic savings and acute balance of payment crisis, there was no adequate capital for investment. During that time of crisis, Prime Minister PV Narsimha Rao introduced the policy of liberalization, privatization to overcome the financial situation. 

India opened up to Globalization after the economic policy of 1991 came into force. Mounting debts and pressure from the International Monetary Fund drove the nation to go global. The process of Globalization has been an integral part of the recent economic growth of India. Globalization has played a very significant role in the growth of export, leading to the expansion of the job market in India. One of the major sectors of Globalization in India has been in the growth of outsourced IT and Business Process Outsourcing services. There has been an incredible increase in the number of skilled professionals in India employed by domestic and foreign companies to cater service to the customers globally, especially in the USA and Europe. 

There was not a doubt that Globalization in India brought a monumental change in the living standards of the people. People in India realized many benefits from Globalization. The establishment of multinational companies generating billions of jobs and access to umpteen numbers of brands and an increase in the forex reserves of the country took India to a higher platform globally. Despite this monumental change in the economy of the country, India also faced the challenges of severe competition from the foreign market and the domestic producers started fearing marginalization and pulverization because of the better quality products produced by the foreign producers.

Globalization had both desirable and undesirable consequences for India and the world. Even though it has accelerated progress in some countries, it has also widened the gap between the rich and the poor.

The impact of Globalization has been both positive and negative on the entire world, but we can surely hope for more advancement in the global economy due to this process.

FAQs on Globalisation Essay

1. How Did Globalization Help India to Improve the Economic Conditions?

Globalization generated umpteen employment opportunities for the people of India by establishing multinational companies. The policy of liberalization and privatization invited foreign traders to do business with India. This has increased the inflow of men, money, material, labor, technology, etc., from foreign countries to India. People have access to foreign brands and the living standards have improved drastically.

2. How is Globalization a Threat to Domestic Producers?

The domestic producers fear marginalization and pulverization because of the entry of foreign and better quality products.

3. What are the advantages and disadvantages of Globalization?

With increasing confidence in market economies and new policies on private capital and resources, many developing countries are beginning to adapt to developments with the support of the World Bank and other international institutions involved in research and development. Globalization also offers new opportunities for developing countries. Greater access to markets in developed countries and the transfer of technology will increase their productivity and demand.

At the same time, Globalization has created challenges such as increasing inequality between and within countries, instability of financial markets and environmental degradation. Globalization is an interesting exhibition that can also be seen as a system of competition and international relations. This has created intense competition between countries and international companies. 

4. What do you mean by Globalization?

Globalization means the integration of economies and societies through the flow of information, ideas, technology, goods, services, capital, finance, and people. The true meaning of Globalization in a broad sense is a connectedness in all areas of human life. It is the process by which other companies or organizations enhance their international reputation or start operating internationally. Globalization has its own benefits and drawbacks. We can learn more about Globalization and how to write an essay on it in detail on the Vedantu website, which has all the necessary materials that students need in order to write an essay on Globalization. 

5. How can Globalization help India improve its economic situation?

In our present times, Globalization has been a boon to many people as it not only allows companies to expand their business but also makes things accessible for everyone. In a simple sense, we can say that it helps in connecting people with the world. Globalization has created many job opportunities in India through the creation of multinational companies. Policies of liberalization and privatization have encouraged foreign traders to trade with India. This has increased the number of people, money, materials, labor, technology and so on—inflows from abroad to India. People have access to foreign brands and the standard of living has improved significantly.

6. How does Globalization threaten domestic producers?

Domestic producers are afraid of marginalization and due to the entry of foreign and better quality products into the market. Globalization can be associated with increasing income and wealth inequality. Many of the world's poorest people lack access to basic technologies and public goods. They are excluded from treatment. Some critics of globalization point to the loss of economic and cultural diversity as international multinational giants and brands dominate domestic markets in many countries. Globalization can hinder competition if international companies with dominant brands and high technology gain a foothold in key markets, be it telecommunications, the automotive industry, and so on.

7. What are the main industries that have grown tremendously because of Globalization?

The integration of national economies into the global economy is one of the most important developments of the last century. This process of integration, often referred to as Globalization, has manifested itself in a tremendous increase in cross-border trade.

The outsourcing business has grown exponentially due to Globalization. The main industries resulting from Globalization are trade and commerce. Automobile companies, clothing manufacturers and transportation, are the three main industries taken over as a result of Globalization.

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What Is Globalization?

• How It Works
• Pros & Cons

The Bottom Line

• Macroeconomics

Globalization in Business With History and Pros and Cons

Globalization refers to the growing interconnection of nations' economies. It represents the flow of financial products, goods, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of countries around the globe fostered through free trade .

Key Takeaways

• Globalization is the spread of products, technology, information, and jobs across nations.
• Corporations in developed nations can gain a competitive edge through globalization.
• Developing countries also benefit from globalization as they tend to be more cost-effective locations and therefore attract jobs.
• The benefits of globalization have been questioned as the positive effects are not necessarily distributed equally.
• One clear result of globalization is that an economic downturn in one country can have a domino effect on its trade partners.

Alex Dos Diaz / Investopedia

Understanding Globalization

Corporations gain a competitive advantage on multiple fronts from globalization. They can reduce operating costs by manufacturing abroad, buy raw materials more cheaply because of the reduction or removal of tariffs , and most of all, gain access to millions of new consumers.

What Globalization Means

Globalization is a social, cultural, political, and legal phenomenon. 

• Socially, it leads to greater interaction among various populations.
• Culturally, globalization represents the exchange of ideas, values, and artistic expression among cultures.
• Globalization also represents a trend toward the development of a single world culture. 
• Politically, globalization has shifted attention to intergovernmental organizations like the United Nations (UN) and the World Trade Organization (WTO) .
• Legally, globalization has altered how international law is created and enforced.

On the one hand, globalization has created new jobs and economic growth through the cross-border flow of goods, capital, and labor. On the other hand, this growth and job creation are not distributed evenly across industries or countries.

Specific industries in certain countries, such as textile manufacturing in the United States or corn farming in Mexico, have suffered severe disruption or outright collapse as a result of increased international competition.

Globalization's motives are idealistic, as well as opportunistic, but the development of a global free market has benefited large corporations based in the Western world. Its impact remains mixed for workers, cultures, and small businesses around the globe, in both developed and emerging nations .

Globalization has grown at an unprecedented pace, with public policy changes and communications technology innovations cited as the two main driving factors.

The History of Globalization

Globalization is not a new concept. Traders traveled vast distances in ancient times to buy commodities that were rare and expensive for sale in their homelands. The Industrial Revolution brought advances in transportation and communication in the 19th century that eased trade across borders.

The think tank Peterson Institute for International Economics (PIIE) states globalization stalled after World War I. Nations moved toward protectionism as they launched import taxes to guard their industries in the aftermath of the conflict. This trend continued through the Great Depression and World War II until the U.S. took on an instrumental role in reviving international trade .

One of the critical steps in the path to globalization came with the North American Free Trade Agreement (NAFTA) , signed in 1993. One of NAFTA's many effects was to give American auto manufacturers the incentive to relocate a portion of their manufacturing to Mexico where they could save on the costs of labor. NAFTA was replaced in 2020 by the United States-Mexico-Canada Agreement (USMC) .

Governments worldwide have integrated a free market economic system through  fiscal policies  and trade agreements in the 20th century. The core of most trade agreements is the removal or reduction of tariffs.

This evolution of economic systems has increased industrialization and financial opportunities in many nations. Governments now focus on removing barriers to trade and promoting international commerce.

Pros and Cons of Globalization

• Proponents of globalization believe it allows developing countries to catch up to industrialized nations through increased manufacturing, diversification, economic expansion, and improvements in standards of living .
• Outsourcing by companies brings jobs and technology to developing countries, which helps them to grow their economies. Trade initiatives increase cross-border trading by removing supply-side and trade-related constraints.
• Globalization has advanced  social justice  on an international scale as well, and advocates report that it has focused attention on human rights worldwide that might have otherwise been ignored on a large scale.
• One clear result of globalization is that an economic downturn in one country can have a domino effect on its trade partners. For example, the 2008 financial crisis had a severe impact on Portugal, Ireland, Italy, Greece, and Spain. All of these countries were members of the European Union , which had to bail out debt-laden nations, which were thereafter known by the acronym PIIGS .
• Globalization detractors argue that it has created a concentration of wealth and power in the hands of a small corporate elite that can gobble up smaller competitors around the globe.
• Globalization has become a polarizing issue in the U.S. with the disappearance of entire industries to new locations abroad. It's seen as a major factor in the economic squeeze on the middle class .
• For better or worse, globalization can reduce the cultural and social aspects unique to people and geographic areas around the world and increase product homogeneity. Starbucks, Nike, and Gap dominate commercial space in many nations. The sheer size and reach of the U.S. have made the cultural exchange among nations largely a one-sided affair.

A larger market for goods and services

Cheaper consumer prices

Outsourcing can benefit domestic firms and foreign labor

Increased standard of living

Concentrates wealth in richer countries

Some poorer countries can be left behind

Labor and the physical and intellectual resources of poorer countries can be exploited

Regions and cultures lose their uniqueness and products available around the world can become homogeneous

Why Is Globalization Important?

Globalization is important as it increases the size of the global market, and allows more and different goods to be produced and sold for cheaper prices. It is also 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.

For example, many of the largest and most successful corporations in the world are in effect truly multinational organizations, with offices and supply chains stretched right across the world. These companies would not be able to exist if not for the complex network of trade routes, international legal agreements, and telecommunications infrastructure that were made possible through globalization. Important political developments, such as the ongoing trade conflict between the U.S. and China, are also directly related to globalization.

Is Globalization Good or Bad?

It depends. Proponents of globalization will point to the dramatic decline in poverty throughout the world for more than two decades after around year 2000, which many economists attribute in part to increased trade and investment between nations. Similarly, they will argue that globalization has allowed products and services such as cellphones, airplanes, and information technology to be spread far more widely throughout the world.

On the other hand, critics of globalization will point to the negative impact it has had on specific nations’ industries, which might face increased competition from international firms. Globalization can also have negative environmental impacts due to economic development, industrialization, and international travel.

How Does Globalization Impact Society?

Globalization has had a large impact on societies around the world, leading to massive migrations from rural to industrial or urban areas and to the rapid growth of cities and trade hubs. While this has meant an overall increase in incomes and a higher standard of living in general, it has also led to problems such as crime, domestic violence, homelessness, and poverty. Concepts of national identity, national or regional culture, and consumption patterns also change as goods from around the world become increasingly available and at low prices. The competitiveness of global capitalism may also lead to more individualistic ideals that contradict the cultural orientations of certain, more collectivist societies.

What Is an Example of Globalization?

A simple example of globalization would be a car manufactured in the U.S. that sources parts from China, Japan, South Korea, Sri Lanka, and South Africa. The car is then exported to Europe, where it is sold to a driver who fills the car's gas tank with gasoline refined from Saudi oil.

Globalization refers to the ongoing trend of increased interconnectivity of nations across the globe, as enabled by advancements in transportation and information technology, among others.

Globalization is facilitated economically by free trade agreements, which permit barrier-free imports and exports across borders. While globalization brings many advantages—including lower prices and higher standards of living to some—it also has drawbacks, including wealth concentration and cultural homogeneity.

Peterson Institute for International Economics. " What Is Globalization? "

Congressional Research Service. " The North American Free Trade Agreement ," Page 1.

Congressional Research Service. " The North American Free Trade Agreement ." Pages 16-17.

Office of the United States Trade Representative. " United States-Mexico-Canada Agreement ."

FasterCapital. “ Financial Bailout: PIIGS and Financial Bailouts: Lessons From the Crisis .”

Macrotrends. “ World Poverty Rate 1981-2024 .”

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Globalization Assignment Sample

University: University of London

• Unit No: 14
• Level: Post Graduate/University
• Pages: 6 / Words 1598
• Paper Type: Assignment
• Course Code: N/A
• Downloads: 171500

Table of Content

• Introduction on Globalization 

Globalisation Process

Forces driving globalisation, competitors and competitive advantage, impact on the environment and sustainability, ethical dimensions in international business.

This sample will let you know about:

• Discuss Globalisation.
• Define the forces driving globalisation.

Introduction on Globalization 

The term globalisation refers expanding the local markets globally. This can be done by interdependent and free transfer of goods and services across the nations. It does not include unnecessary transfer of labour. It is also suggested by some authors and economists that globalisation may hurt flimsy economies only if it is applied chaotically. It has increased the risk of new entrants influencing the customer but has also increased the market for the domestic companies (Daniela, 2010).

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One such company who has witnessed huge globalisation is Mc Donald's. This is the biggest restaurant chain which has 32000 outlets across 117 countries. This giant chain provides employment to about 1.7 billion people. This company alone made profit of $1.2bn and had incurred revenues of $1.6bn in the first 3 months of 2011. Over the past 20 years company faced huge criticism because of providing bad diet to the people, still Mc Donald is going strong (Wang and et. al., 2010).

Globalisation was emerged in the 20th century and was rapidly expanded in the whole world. Thus the process of globalisation is evolved several years ago. One such example of evolution of globalisation is expansion of European Countries to colonise the Asian and other countries of the world (Thomas and et.al., 2005).

Due to increase in foreign trade and capital inflows, increase in growth rates and rising GDP has opened the world economics assignment help  motivating globalisation. There are some forces which drive globalisation and they are:

• Technology: Digitalisation and invention of new and fast technology at low cost have tremendously integrated national markets. This has opened new and better area of expansion to the companies. This broken national barrier is used by Mc Donald to expand itself and establish its name in the entire world.
• Liberalisation: Introduction of World Trade Organisation provided clarity to the liberalisation of the country's trade. These organisations take all the trade related decision and every issue faced by the companies are solved by this organisation. This also helped mc Donald to grow and expand well (Standards of Business Conduct for Employees. n.d).
• Trade Flows: With the removal of trade barriers, rate of trade within the countries have increased. Trade protection policy is made which protect the trade. Better distribution channels are available which protect the goods and services. Mc Donald takes use of these better means for importation and exportation of its food products and thus have established good quality in the restaurant market.
• Capital flows: Internet has simplified our lives and also helped in easy and fast generation of capital anytime anywhere.
• Modernisation: Another factor is modernisation. As the awareness is increasing among people and they are accepting the changes this is enhancing the scope of Mc Donald to expand easily in the globalised market.

Expanding globally means increase in levels of competition. And thus Mc Donald also have to compete with numerous restaurant chains such as KFC, Starbucks Corporation, Yum Brands Inc, Chipotle Mexican Grill, Whitbread PLC, Darden restaurant Inc , Burger King etc. Thus to survive the competition and expand globally Mc Donald is required to make certain strategies that act as a competitive advantage for the company and thus help the company to survive this cut throat competition (Jurse and Mulej,2010).

Competitive Advantage means positioning the company in relation to other firms or industries. According to Michel Porter, to sustain in the competition there are three different competitive advantage strategies and they are:

• Cost Leadership: This strategy is used by the organisations that provide similar products at a price lower than what is offered by its competitors. In this the quality of the product must not get affected.
• Differentiation: This strategy indicates that firms are providing better and superior quality of product than what is provided by its competitors at the same level of price. Differentiation generally makes its customers believe that the quality of product provided by the firm is actually of superior quality than the one offered by other firms (Asgary and Walle, 2002).
• Focus: This term states that firms in same business line focuses on a particular segment of market and get specialised in that area so that it will appeal that particular grade of customers (Tamer, 2009).

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Sustainability is the major issue for every company today. For globalisation also company needs to maintain sustainability. Sustainability simply means using the resources today without sacrificing the needs of future. Coming to Mc Donald, in 1990's the company has worked with Environmental Defence Fund (EDF), in order to reduce wastage packaging (Smith, 2005). At that period of time the world was facing issues related to garbage and running out land space. Mc Donald wanted to be a part of the social welfare and thus the company in partnership with EDF produced a Waste Production Action Plan that included about 42 initiatives to reduce reuse and recycle.

Mc Donald also implemented Environmental score card for its suppliers to access the resources they are using and to continuously try to conserve energy, water, air and avoid its wastage (Mitchell, 2009). This scorecard was developed in partnership of Conservation International and several large suppliers. The company also prohibited child labour and made all the compliance of law.

In regards to animal welfare, Mc Donald stopped producing beef products as it started destructing the Amazon Forests. It deals with suppliers dealing with animal husbandry after ensuring that they have complied with all the regulations related to the Animal Husbandry Guiding Principles (Maynard, 2004). Recently, Mc Donald USA, announced its participation with the leading scientists, NGO's and egg suppliers to provide a cage free and healthy environment to the animals and birds.

Mc Donald also recently gave a decision to conserve the energy and oil as the prices of oil were rising, thus the company started better practices and for that in spite of delivering individual packages the company decided to go for bulk oil usage.

Ethics is the most important factor for the companies. With the growing level of business and its regular expansion globally companies need to improve their ethical policies and must work ethically (Kline, 2010). An unethical practice influences the brand image of the company and diminishes it in the eyes of its customers (Bank, 2010).

Mc Donald believes in following a 3 E policy which consist of Environmental, Ethical and economical. Company always tries and emphasis on working and growing ethically under the social responsibility. For this the company does not appoint any child labour in the business. Mc Donald has created its own ethical values which are to be followed by all its customers. The concern employees have to abide all the rules and each year the employees have to certify that they have duly read and followed the Standard of Business. Employees also have regular training on the standards, anti bribery law, any many other laws apart from them proper training related to follow all the rules and regulations is also given. Company also follows Foreign Corrupt Policies which contain policies related to dealing with other countries (Hopkins, 2011).

In spite of this Mc Donald faces certain ethical issues for that they are regularly criticised. These issues are mainly about spreading obesity, illness, heart diseases, asthma, cow diseases etc. It is the junk food of the company that is the major ethical disadvantage faced and it is assumed that the company is playing with the health of its customers. If you are struggling with dissertation topics, get finance dissertation topics from our experts!

From the above report, it is clear that globalisation is a major aspect of expansion for every company as it provides a better market to the company to promote its product and make huge profits (Carroll and Gannon, 1997). The report also gives a view about how competitive advantage is helpful for the organisation to capture large market along with importance of sustainability and working ethically. The above report gives detailed description about Mc Donald, its strategies and how it is getting globalised.

• Adams, J., 2002, Financial globalisation: Is it a threat to key central bank functions? The case of Mauritius. Journal of Financial Regulation and Compliance. 10(1), pp. 55-67.
• Asgary, N. and Walle, H. A., 2002, The cultural impact of globalisation: economic activity and social change, Cross Cultural Management: An International Journal. 9(3), pp. 58-75.
• Bank, M. C., 2010. Globalisation and human rights: Some implications for the African content and government. World Journal of Entrepreneurship, Management and Sustainable Development, 6(3), pp. 181-191.
• Jurse, M. and Mulej, M., 2010, The complexities of business school alignment with the emerging globalisation of business education. Kybernetes. 40(9/10), pp. 1440-1458.  
• Muriente, L. F. C., 2005, Globalisation and In equality: Some Remarks.  Equal Opportunities International. 24(1). Pp. 27-34.
• Skinner, H. and Blackey, H., 2010, Globalisation of business education - a British course or a British educational experience? Comparisons from a UK university. Journal of Applied Research in Higher Education. 2(2), pp. 22-32.

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Globalisation Name of University: Response to Question 1: Globalization as a process driven by trade and investment

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Unit 18 Global Business Environment : Assignment lg ...

Globalization's impact on world economies lg ..., international business: factors influencing growth and development lg ..., global business environment - desklib lg ..., contemporary business issues lg ..., strategizing entry into emerging markets lg ....

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Globalisation Assignment: Case Analysis of Uber

Task: Scenario Uber Technologies Incorporation, the rapidly expanding ride-hailing application, which allows its users to book and pay for taxis by using their smartphone has come under serious attack in many parts of the world including the United States, much of Europe, Asia and Nigeria. In these destinations, Uber has faced sanctions, criticisms and protests, such as the once trending social media campaign #DeleteUber, in which users were encouraged to stop using the Uber app. More recently, a ban on Uber has resulted in the stripping of its operating license in London (in 2017). The regulator, Transport for London, said “Uber’s approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications”. In its short-term existence, Uber has been accused of various bad CSR-related issues such as none reporting of serious criminal offences, improper background checks on drivers, hiring of unprofessional drivers, espionage, customer privacy issues and others. The company has also had to combat its internal stakeholders. With reference to Uber, prepare a globalisation assignment report concerning the impact of globalisation on local businesses.

1.0 Introduction The main aim of the globalisation assignment is to evaluate the impact of globalization in local businesses for which the chosen company is Uberdriver. Globalization has been resulting in a higher level of cost advantages, which allows various countries, get around trade barriers. In addition to that, globalization is the integration and internationalization of the process of manufacture and capital market and flow of resources, cultures, products, and services, etc, which has been helping the local market to expand their business with greater profitability(Katerina, 2014).

Uber Technologies was established by DaraKhosrawshahi in May 2010, with the motive to provide ride service to their consumers. The firm has been rapidly expanding ride-handling application that permits their consumers to pay and book for taxis with the use of their smartphone. The firm has been expanded in various countries and in their business journey; they have faced many sanctions, criticism, and protests.

1.1 Effects of Globalization Using PESTLE PESTLE analysis refers to the strategic framework, which is used to evaluate the external environment of a business by segregating the opportunities and risks in various aspects such as Political, Economic, Social, Technological, Environmental, and Legal factors. The analysis is said to be the most effective analyzing tool that is used by most global businesses to analyze their business environment. The main purpose of this analytical tool is to provide an in-depth understanding of the business so that the businesses can be aware of the threats and risks that are likely to be incurred by the business(Matovic, 2020).

1.1.1 Political In Australia, 20% of the license fee needs to be paid for each fair for the use of platforms that can affect the financial stability of the firm. It is because when Uber driver operates in a wide manner and payment for each fair might increase the cost incurred by the firm. In addition to the license, fee the GST also needs to be paid by the company, which is calculated as 1/11thof the fare. This can also increase the expense of the firm and can also affect their pricing strategy for their service. It is because the GST is also added to the price of the fair that is payable by the consumers. Hence, the Uber rider needs to have an ABN business number for the registration of GST. However, the effect of globalisation in the national economies is that the operations of the business can differ from one country to another as Uber is expanded across various countries.The political factors identified can have an effect on the globalization of Uberas compared to that of Australia. As per my knowledge, it can be said that the political factors in Australia can affect the operations of Uber to a higher level because the firm might have to struggle to operate their business practices with the consideration of the laws and regulations set by the Australian government. It would also hamper the globalization of the firm as it is expanded into various countries, the differences in the laws and regulations of every country.

1.1.2Economic The Australian economy has influenced the business of Uber drivers because it has been identified that the outbreak of the pandemic has led to a forecast that there will be a contraction of 4.2% for the year. It means that the profitability of the business can be influenced because the pandemic has served as a barrier to the operations of the organization. On the other hand, the rise in unemployment in recent years has led to positive as well as negative impacts to the business because the opportunity of most efficient workers has been increased in the firm whereas the firm had to lose existing hardworking employees(Erixon, 2018). It has been identified that the economic factors of Australia has shown a positive impact in the globalisation of Uber as it has grown at an alarming rate indicating that there is economic potential in this market.

1.1.3 Social Since the firm has been operating with the help of advanced technological facilities provided to the service users, it can be said that the increased level of involvement of people in smartphones and applications has resulted in an increased level of profitability to the business. When the firm succeeds in increasing happier consumers, they can increase their ability to provide more effective facilities to their passengers. In addition to that, the operations adopted by Uber wherein the use of technology is involved, allow people to track their ride and their route picking time and drop-in time. In the globalization of Uber, the social factors have been helping the firm to grow in ach part of the world as consumers have been enjoying the ideas and concepts as well as the services provided by the firm.

1.1.4Technological The technological factor in Australia has impacted the business in a positive manner because they can provide a higher level of customer convenience with the use of digitization of the e-hailing and payment procedure. It can be said that the company has been benefited from the advanced level of technology in Australia. Additionally, the country has launched a 5G network in ten cities and continues widespread expansion. This expansion has helped the firm to gain a higher level of competitive advantage with which they can compete with their rivalries as they are more advanced in the technical field (Frue, 2017). Technological factors like social media have been having a positive impact on the globalisation of the company because the firm has been able to provide an easier way to book a cab and reach their destination.

1.1.5 Environmental The environment of Australia believes in promoting ‘Clean and Green' with a lower level of emission, hybrid petrol LFG electric technologies.Such environmental aspect leads the firm to be sustainable enough that will eventually increase as well as improve the operational practices of the firm. The country focuses on the significance of the traffic congestion and the consumption of the fuel because of which the company might avoid the risk to be faced by the traffic congestion. It would also help them to reach the pickup point at the expected time without any delay. Therefore, it can be said that the company can have a smooth run of business(Tedeschi, 2020). The environmental factors have been enabling the firm to be flexible in different countries in terms of globalization because it has been identified that the Uber’senvironment is ever shifting.

1.1.6 Legal In the meantime, the major legal factor of Australia is that the passengers will not be provided if they do not wear a mask. It means that the consumer will feel that they are safe when they ride in Uber. In addition to that, the country provides fully comprehensive insurance for their vehicle with which the riders will have a safe place to work that will eventually increase their motivation to work more efficiently. The legal authorities of the country provide the drivers to abide by different lawful driving which impacts the overall business positively as they can get assurance regarding road safety and can provide more impressive services to their passengers. The legal factors affects the globalisation of Uberhas been somehow hampering the business as it has been identified that the firm has been facing much criticisms, bans and attempted bans in the locations all across the world.

Figure 1: PESTLE Analysis Source: (Self-Created)?

1.2 Role of the EU and International Institution World Trade Organization and International Monetary Fund are international organizations whose role on the combination is to provide a sound and safe system for international trade, payments and allow trading blocs to operate with ease.

Across the world, there are various trading blocs set up for the primary reason to grow the economic integration between countries on a global scale. Various trading blocs such as ASEAN, EU, NAFTA, PA, and recently formed CPTPP were formed for the sole reason to increase the global economic networks. All these trading blocs could be formed on different circumstances and with a different approach and with different arrangements with associated countries. However, the function of trading blocs remains particularly the same worldwide as their roles look to permit the interchange of useful new technologies and ideas, natural resources, labour, and skilled labour between countries. The role of Trading blocs allows these interchange while reducing the transaction fees related to the various legal, financial differences among associated countries (Klemperer, 2020).

The roles of trading blocs across the globe can affect organizations such as Uber in many ways. An organization such as Uber classifies its worker as contractors but many blocs and regulators do not agree with the classification of workers. The organization faces issues on security issues and payment methods in various countries, thus raising potential security threats and regulatory concerns(Europa.eu, 2020).

1.3 Uber Harmonising its Global Practice As Uber continues to move ahead in the transportation industry, the organization has to adopt new ideas and models to evolve. The only forward way for the organization to compete internationally is to adapt and comply with regulations and compete on a local scale(Tamberino, 2015).

Figure 2: Globalization of Uber Source: (Tamberino, 2015)

Since, the year 2017, Uber has made sure that all the laws and regulations of various international trading blocs and follow the guidelines mentioned in the declaration of the International Labour Organization. Uber works to maintain all the standards set by ISO and follows the rights mentioned in Human Rights Charter. The organization is set to compete in the global market by practicing all the necessary policies in all regards of health, labour rights, environment, and safety.

Uber is set to harmonize its global practices via strategies mentioned below: • The organization is set to align the prices of rides offered following the Surge pricing algorithm model. The model allows the drivers to be in places where rides are at higher rates and the model allows the company to differentiate the customer base with more accuracy.

• The organization's research and development facilities continue to invest in connecting drivers and passengers with more ease, allowing the app to be used with more ease and more efficiently(Wallsten, 2015).

2.0 Conclusion The overall task is based on the evaluation of how globalization can affect the business organization of Uber in Australia. For this evaluation, the task has referred to the framework of PESTLE analysis wherein it has been identified that the organization has been operating in a profitable manner in the country, however, then the firm can face a certain level of loss because of the adverse effect from the existing pandemic.

Furthermore, there has been a discussion of the role played by EU and international institutions wherein it has been identified that there are certain provisions that have to be considered by the business in order to expect a profitable business. The task has also discussed how Uber has been cooperating with the identified laws and provisions while globalizing its business in various countries. ?

Reference Erixon, F. (2018).The Economic Benefits of Globalization for Business and Consumers The Economic Benefits of Globalization for Business and Consumers. [online] Available at: https://ecipe.org/wp-content/uploads/2018/01/Globalization-paper-final.pdf [Accessed 14 Sep. 2021].

Europa.eu (2020).The EU’s international roles. [online] EEAS - European External Action Service - European Commission. Available at: https://eeas.europa.eu/headquarters/headquarters-homepage_en/3637/The%20EU [Accessed 14 Sep. 2021].

Frue, K. (2017). PESTLE Analysis of Uber. [online] PESTLE Analysis. Available at: https://pestleanalysis.com/pestle-analysis-uber/ [Accessed 14 Sep. 2021].

Katerina, R. (2014). The Impact of Globalization on the Business. [online] Available at: https://core.ac.uk/download/pdf/33812244.pdf [Accessed 14 Sep. 2021].

Klemperer, D. (2020). StackPath. [online] www.instituteforgovernment.org.uk. Globalisation assignment Available at: https://www.instituteforgovernment.org.uk/sites/default/files/publications/influencing-EU-after-brexit_2.pdf [Accessed 14 Sep. 2021].

Matovic, I. (2020). PESTEL Analysis of External Environment as a Success Factor of Startup Business. [online] Available at: http://society.education/wp-content/uploads/2020/10/015IM.pdf [Accessed 14 Sep. 2021].

Tamberino, R. (2015). Uber: A Winning Strategy – Technology and Operations Management. [online] Hbs.edu. Available at: https://digital.hbs.edu/platform-rctom/submission/uber-a-winning-strategy/ [Accessed 14 Sep. 2021].

Tedeschi, L. (2020). Uber - A Strategic Analysis.www.academia.edu. [online] Available at: https://www.academia.edu/30096187/Uber_A_Strategic_Analysis [Accessed 14 Sep. 2021].

Wallsten, S. (2015).The Competitive Effects of the Sharing Economy: How is Uber Changing Taxis? [online] Available at: https://www.ftc.gov/system/files/documents/public_comments/2015/06/01912-96334.pdf [Accessed 14 Sep. 2021].

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