marketing
Globalization and its Impact on Kuwait
Introduction
As a basic definition, globalization is defined as the trend towards greater economic, cultural, political and technological interdependence among national institutions and economies. (Wild 2012, pg 28) Globalization is characterized by denationalization (national boundaries becoming less relevant). Now a days, it could be seen that people around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon is the result of globalization. Globalization is increasing rapidly due to improvements technological innovations (eg: in communications, information and transport technology). It has also been encouraged by reducing barriers to trade and investment (eg:trade liberalization and financial market deregulation).
Globalization has touch and linked in every life’s fields. Many factors have been impacted by globalization such as society, religion, history, health, economy culture and political or any other. Also, all those elements have been crossed with others elements such as science, technology transportation, communication and trade and revealed a global matrix. Globalization started to have an impact on businesses worldwide in the eighteenth century since that time marks the merging of modernity and globalization. Moreover, globalization kicked off after the end of Second World War since its during that time that leaders felt the urge to break down the borders with the aim of enabling trade between nations. Thomas L. Friedman has examined the impact of the "flattening" of the world, and argues that globalized trade, outsourcing, supply-chaining, and political forces have changed the world permanently, for both better and worse. He also argues that the pace of globalization is
Introduction
As a basic definition, globalization is defined as the trend towards greater economic, cultural, political and technological interdependence among national institutions and economies. (Wild 2012, pg 28) Globalization is characterized by denationalization (national boundaries becoming less relevant). Now a days, it could be seen that people around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon is the result of globalization. Globalization is increasing rapidly due to improvements technological innovations (eg: in communications, information and transport technology). It has also been encouraged by reducing barriers to trade and investment (eg:trade liberalization and financial market deregulation).
Globalization has touch and linked in every life’s fields. Many factors have been impacted by globalization such as society, religion, history, health, economy culture and political or any other. Also, all those elements have been crossed with others elements such as science, technology transportation, communication and trade and revealed a global matrix. Globalization started to have an impact on businesses worldwide in the eighteenth century since that time marks the merging of modernity and globalization. Moreover, globalization kicked off after the end of Second World War since its during that time that leaders felt the urge to break down the borders with the aim of enabling trade between nations. Thomas L. Friedman has examined the impact of the "flattening" of the world, and argues that globalized trade, outsourcing, supply-chaining, and political forces have changed the world permanently, for both better and worse. He also argues that the pace of globalization is
References: Bhatti, Y., (038), 2010. Trends from emerging markets. (online).( Available from: http://www.oxfordleadershipprize.org/submission/2010/2010%20OLP%20Winner-Yasser%20Bhatti.pdf Clarke, D., 2005 Intriligator, Michael D. . "Globalization of The World Economy." Potential Benefits and Costs and Net Assessment.” (2003) James, J., 2002.Technology, globalization and poverty Wild, John J., and Kenneth L. Wild. International Business-The Challenges of Globalization. Sixth Edition . Pearson, 2012. Print.