Concept of Globalization

What Is Globalization?
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. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.
Globalization is the process by which the economies of countries around the world become increasingly integrated over time. This integration occurs as technological advances speed up the trade of goods and services, the flow of capital, and the migration of people across international borders. No other country has played as significant a role in reconnecting the world as the United States, itself an early product of modern globalization. Globalization is the shift towards a more integrated and interdependent world economy and it is the process by which the world economy is becoming a single interdependent system. It has two components:
 The globalization of markets
 The globalization of production
Globalization refers to in which activities of large number of business enterprises is carried out in many different locations across national boundaries. It is much more than just importing or exporting from one country to another. True globalization involves one firm procuring form, manufacturing in, and selling in many different countries. There has been an increasing trend in the world towards globalization is characterized by trends such as:
• Increased trade across national boundaries.
• One company having subsidiary companies and plants in many countries.
• One company procuring material required from multiple countries.
• One company selling its products in many different countries.
• Growth of joint ventures and technical collaborations between companies from different countries.
• Lowering of trade barriers and simplified import and export procedures.

Advantages of Globalization:-
Globalization offers many advantages to the people and businesses. These include:
• Greater employment opportunities for people.
• Availability of greater variety of goods and services to the consumers.
• More competitive price to the competitors.
• Ability of companies to achieve lower costs.
• Access to bigger markets to business firms.
• Faster and wider spread of new technologies across the world.
Disadvantages of Globalization:-
Globalization gas some disadvantages also:
• Unrestricted globalization can hamper the development of less developed countries.
• Smaller firms may lack the resources to compete internationally and therefore may be forced out of business.
• Countries become increasingly dependent on other countries for meeting their needs for goods and services. This can become a major disadvantage in situations like war.
• Adverse economic condition in one country can escalate to other countries and may even adopt global proportion.
• Globalization may also lead to faster spread of infectious disease, for people animals and plants. Such infection may be carried through, people or goods.

So, Globalization is the process where the economies of various countries in the world become more and more connected to one another. Globalization is a process by which development in one region has influence all around the world. It is a global market without boundaries. Globalization has brought immense profit they were exposed to the world market. But globalization has its own defects. a farmer in village has to suffer. A local farmer cannot compete with their product in the international market. Today globalization is considered as a fine phenomenon. Different thinkers have different opinions about it but it transfers the world of walled cities to world cities.