Running Head: THE CONCEPT OF GLOBALIZATION The Concept of Globalization Author’s name: Module: Lecturer: It is from mid 19th century that the concept of globalization emerged as a result of the need to trade internationally and increased migration…
Businesses and markets across the world are now linked such that a business in one country can have customers from any part of the world. This is as a result of expanded business operations and easy access of world markets resulting to globalization of markets. Advancement in IT has aided in removing physical barriers like boundaries. Factors of production are central in the globalization process since nations exhibit differences in quantity and quality of these factors (Lechner, 2009). Nations that have less of one or more factors e.g. labor tend to seek it from others while they export what they have in surplus e.g. food in case land is put into proper use. Due to this interaction global institutions have emerged e.g. UN, IMF and The World Bank among others that control interaction between nations (Haugen and Mach, 2010). Some offer credit, others ensure peace and stability while others ensure credibility of international trade. Globalization has turned the world into one big market place where nations showcase what they have in plenty and seek what they are short of. Consumers are now free to shop for commodities from any part of the world. In the process goods and services, money and culture are exchanged making the world to be one big community. References Haugen, D. M. and Mach, R. (2010). Globalization. Greenhaven. Lechner, F. J. (2009). Globalization: The making of world society. Wiley-Blackwell. ...
Cite this document
(“The Concept of Globalization Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Retrieved from https://studentshare.net/other/18208-the-concept-of-globalization
(The Concept of Globalization Essay Example | Topics and Well Written Essays - 250 Words)
“The Concept of Globalization Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.net/other/18208-the-concept-of-globalization.
Post-Globalization Essay Awareness on the concept of globalization is crucial in contemporary times. As more organizations and individuals participate in activities and various applications that are global in nature, theories that encompass learning more about globalization through the University of Tampa’s Certificate in International Studies (CIS) are most relevant and useful.
Globalization impacts on societies in the cultural, political and environmental systems (Held et al. 2005). It also affects economic growth and development of nations worldwide. The concept is not new since over the years, people and companies have been trading for long distances.
Internationalised business enterprises benefit from sharing of technology and enjoying the economies of large scale. The rise in globalisation is a product of the emergence and spread of multinational firms, formation of trade blocs and increase in the amount of trade.
Globalization is a process in which the people of the world are united by a single society and transforming certain things into global ones. Economic, technological, sociocultural and political forces have now been united into a single society. It is also used to refer to the integration of national economies with the international economy by trade and foreign investment.
What is globalization and what are some of the traditional international trade theories that support the concept of globalization?
Globalization is a term which has been used to describe and explain many different phenomena like greater economic integration across national borders.The concept is supported by those who agree with its trade and economic benefits yet those who criticise it believe that those who perceive it as a threat to social cohesion and an invasion of the "capitalist evils of the west" thus undermining state welfare.As at today the term denotes a kaleidoscopic image, a great variety of tendencies and trends in the economic, social and cultural spheres.
The country who calls the people from abroad benefit from their knowledge and mastery over a particular topic whereas those people who go abroad to work will benefit themselves and their country by earning foreign exchange.
The subject of globalization would be classified under practice because it has actually made the world into one global village where nothing is alien, no country is inaccessible and people are open to rapid environmental changes because they have accepted the concept of globalization and they know that their country does not live in isolation.
We can access to people far away from us because of this concept. There are computers, internet and websites that link people to each other and can be considered as supporting the concept of globalization.
The last two decades have seen globalization increase at a relatively high rate due to the speedy advancement in technology.
Businesses and markets across the world are now linked such that a business in one country can have customers from any part of the
Due to Globalization, people can buy and sell stuff from different parts of the world; they can transfer money to any part of the world in the flash of a second as well. People from different parts of the world now know about other parts of the world as if they have