Nowadays, is very common hearing everybody talking about globalization, it can be said that the term has reached a sentimental value, but the truth is that most of the world population do not understand the real meaning of the term. To evaluate the positive and the negative impact that globalization has had on the world, it is necessary to examine different kinds of countries and the different impact that the process has had on them.
Lechner defined globalization as “not a single thing or force but rather as a set of human actions that share a similar quality and point in the same direction” (Lechner, 2009, p. 1). Basically, this means that groups of people united forces to reach higher goals in any aspects that they need it to, it could be in cultural, business or economic aspects, probably without the intention of impacting their country nor positive or negatively.
It is important to remember that globalization is reflected not only at an economic level but also it has rearranged social structures, from how people communicate to family conformation behavior. It can be said that there are no limits when it comes to communicate, there can be long distance relationships that can last long for the simple reason that smartphones exist.
At an economic level, globalization has impacted the open market competition, which can benefit consumers worldwide on the basic lowering prices on the items they purchase. But as mentioned before there are different ways this can impact less developed countries. Ritzer mentioned a term that can describe perfectly the why less developed countries can loose in the globalization race, called “race to the bottom. The basic argument is that for less developed countries to compete and succeed in global economy, they must undercut the competition in various ways such as offering lower wages, poorer working conditions, longer hours, ever-escalating pressure and demands and so on.” (Ritzer , 2010, p. 224).
Nevertheless globalization has shown that emerging countries can develop faster and easy, taking into consideration the application of new trading markets worldwide. The developing countries can be competitive with different type of products, unique in each country that will be attractive in international markets. As a conclusion it can be seen that globalization process is been used as a strategy for expiation in business, which is vital for the consumers.
References
Lechner, F.J., (2009). Globalization: The making of world society. Chichester, United Kindom
Ritzer, G., (2010). Globalization: A basic text. Chichester, United Kindom
References: Lechner, F.J., (2009). Globalization: The making of world society. Chichester, United Kindom Ritzer, G., (2010). Globalization: A basic text. Chichester, United Kindom
You May Also Find These Documents Helpful
-
Globalization has been described as the rapid increase in cross-border economic, social, technological exchange under conditions of capitalism, which also, influences all spheres of our life: culture, business, trade, politics, environment and even our mentality. It connects different countries and makes their interaction easier.…
- 3306 Words
- 14 Pages
Powerful Essays -
Globalization as a process can be described as integration and interdependence of world regions through the network of trade and communication links (Johnson et al. 17). Globalization implies complex changes that cannot be limited to one particular area or sector. Thus, it influences economic, technological and cultural aspects of our life. Globalization made it possible to exist in diversified homogeneity and effective decentralized market, to compress the globe without changing its size and to realize that progress does not always means improvement.…
- 967 Words
- 4 Pages
Powerful Essays -
There is no definite definition of “globalization,” however it can be defined as the process of increased connectivity of people, as a result of economic, commercial, technological, political, social and cultural processes (Wikipedia definitions for globalisation). Global integration and interdependence has emerged in the past decades of the 20th century. One of the consequences of globalisation has been what is termed as “world culture”, and it can be defined as “the way in which people live in a whole society”. The social life comprises of law and morality, a system of beliefs, language, religion, rituals, dress and manners. It’s the social implications of globalization which have led to world culture. However the global culture is not as universal as it may seem due to the clashes between local and the emerging global culture.…
- 1295 Words
- 6 Pages
Better Essays -
Globalization has brought both positive and negative effect to nations and company. In this report I would like to explain about the impact of globalization on a country. I will cover both impacts on developed and developing nation. The impact will focus on different stakeholders such as domestic companies, workers, farmers, indigenous cultures and different demographic group. This report also will discuss on the main forces associated with globalization.…
- 2688 Words
- 11 Pages
Powerful Essays -
1)Introduction- A thousand year old phenomenon Globalization, initiated by the Silk Road which linked Europe and China has widely broadened in today’s scenario. It is defined as a progression of unification of diverse countries across the globe enhanced by foreign trade, international investment, flow of technology and labour. Globalization has diversely affected the political, social, cultural condition of various countries in negative and positive manner. (1) (10)…
- 1037 Words
- 5 Pages
Powerful Essays -
Globalization is happening all around us every day whether it is wanted or not. Some may believe that globalization is a bad thing and should be controlled to some degree. Others say that it is a great thing that is happening in the world and that it should be seen as a move in the positive direction. This essay will discuss whether I think globalization is a good or bad thing.…
- 385 Words
- 2 Pages
Satisfactory Essays -
Globalization is the act of moving away from distinct national economic units and toward one huge global market. For business, globalization is a means to boost their profitability. It is a financially driven act that can impact their finances in multiple ways. A fresh market has potential to enhance sales and raise profit margins. If entered early enough you get a head of potential competition and make a name for your firm within the market giving you the competitive advantage. Another way for it to help profitability is for your firm to move production outside the home country. While maybe the new market you’re in may not be enormously profitable, their labor cost can be cheaper, meaning expenses can be cut and the price you sell your product for is much more than what you built it for.…
- 1088 Words
- 3 Pages
Better Essays -
Assoc. Prof. PhD Cornelia Nistor Faculty of Administration and Business University of Bucharest Abstract Although globalization cannot ensure worldwide stability and economical equilibrium, or full environmental protection, its positive effects mainly regarding the trading development and the access to new markets are undeniable. Also, there should also be emphasized the opportunity for rather poor countries of developing in an extremely rapid rhythm due to access to new technologies, products and information, access to direct investments and loans. Among the negative effects there are: first poverty, persisting in the under-developed countries, the issues regarding the environmental protection and ensuring full democratic expression. Last, globalization should be regarded in view of the influence it has over the consumer economical entities.…
- 4721 Words
- 19 Pages
Powerful Essays -
The word Globalization refers to “the growing integration of economies and societies around the world” (World Bank 2010). There has been an increasing amount of connection between various economies and one of the greatest challenges we face is to make this connection a positive one. Globalization certainly has the greatest influence on developing nations around the world. Countries such as India, China and Russia have been positively affected by globalization since they are able to trade goods in which they have a comparative advantage. For some other nations, globalization has not had such a positive influence. In certain parts of the world, it has led to a worsening of the economy, exploitation of labour, decrease in local production and worst of all, an increase in inequality.…
- 1547 Words
- 7 Pages
Powerful Essays -
To begin with, globalization has contributed to the world’s economies in many beneficial ways. The advances in science and technology have allowed businesses to easily cross the geographical borders. Due to that companies tend to become more productive and competitive thereby improving the quality of goods, services and the people living standard. Anytime that you have multiple producers competing for a hold of the economy, that’s a good sign for consumers, as the quality of goods and services often goes up as a result.When businesses started to venture across international borders, what they often did was introduce a new standard into the global marketplace. Consumers then had more options to choose from.With more competitors to fight over market share, each company has to constantly look to improve their goods or services or create more value for their customers.This means better products and sometimes lower prices, which is always a good thing for buyers.…
- 487 Words
- 2 Pages
Good Essays -
There are a lot of ways to define the terminology globalization. According to the book named International Management edition 8th (The McGraw-Hill Companies, Inc, 2012- p. 6), globalization can be defined as the process of social, political, economic, cultural, and technological integration among countries around the world. Globalization is also defined as the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. The appearance of globalization creates many chances and challenges for many countries around the world. To clarify the importance of globalization as well as its impacts on the economies of countries around the world, we need to response and analyze the following questions:…
- 1366 Words
- 5 Pages
Good Essays -
Globalization is not a single concept that can be defined and encompassed within a set time frame, nor is it a process that can be defined clearly with a beginning and an end. Furthermore, it cannot be expounded upon with certainty and be applicable to all people and in all situations. Globalization involves economic integration; the transfer of policies across borders; the transmission of knowledge; cultural stability; the reproduction, relations, and discourses of power; it is a global process, a concept, a revolution, and “an establishment of the global market free from sociopolitical control.” Globalization encompasses all of these things. It is a concept that has been defined variously over the years, with some connotations referring to progress, development and stability, integration and cooperation, and others referring to regression, colonialism, and destabilization. (http://www.gcsp.ch/e/)…
- 2875 Words
- 12 Pages
Good Essays -
Nowadays, globalization has become the trend of times that any countries or people around the world cannot ignore it. It has also penetrated deeply into the social life of many countries in the world through three main spheres, which are Economic, Culture, and Political. Especially in the economic sector, globalization is playing a major role in changing the world economy. It has become the main factor to merge historically distinct and separate national markets into one giant global marketplace. When national companies participate in the giant global marketplace, they will have more opportunities in finding the resources for the production of goods or services from locations around the world by taking advantage of differences in cost or quality of the factors of production such as the difference in cost of labor, land or capital between developed countries and developing countries. The world economy has had significant shifts since globalization emerged over the last three decades. These shifts has brought on many benefits for the world economy, but also caused more risks and problems to the world economy such as fiscal crisis and economic downturns problems. This essay will discuss some shifts in the global economy that caused by globalization, and also look at positive and negative aspects that globalization has brought to people in the countries where globalization has been through.…
- 2169 Words
- 6 Pages
Good Essays -
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.…
- 517 Words
- 3 Pages
Satisfactory Essays -
Globalization is such a commonly used term in the twentiethcentury. It simply means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. In other words, it is the idea that the world is developing a single economy and culture. As mass communication and transport continue to grow societies are becoming more and more alike leading to a phenomenon known as globalization. In this essay the main discuss will be about how globalization has influenced all countries and the advantages and disadvantages about it. It is undeniable that globalization has resulted in both positive and negative effects which must be addressed accordingly.…
- 1245 Words
- 4 Pages
Good Essays