Globalisation Is a Force for Good - Essay Example

Globalisation is a Force for Good By Globalisation is a Force for Good Introduction The world has walked past a long wayfrom the clutches of disparities based on nationality, race, language and socio-economic classification prevailed among its population and built an open arena of overall progress. Political borders between countries opened wider and changes in almost every field of human participation such as education, sports, healthcare, technology, agriculture, manufacturing, marketing and researches took place in rapid momentum. These changes transformed the face of the old world by making lives easier and more productive. The tremendous progress that the world population is witnessing across the world these days is the result of globalisation. Considering all the advantages of globalisation, the argument that this concept is a force for good cause remains true. This paper is meant to examine the positive effects of globalisation that resulted in the transformation of major areas like education, technology and business as a relationship with the relevance of international cooperation instilled by globalisation. The Concept and Scope of Globalisation Make a quick overview of the development around the world that has taken place in the recent two decades and it will be clear how great the aspect of ‘globalisation’ is. It is obvious that the politically segmented world map is now filled with a number of cities and economic hubs where labour and capital are brilliantly invested and operated in a variety of enterprises. This rapid growth in urbanisation and development in the human resource quality meant for economic growth of many countries became a reality through the integration of ideas and efforts from different parts of the world. As such, the commonness in opinion and the willingness to share material and abstract things meant for progress of human communities across political borders can be considered as the basis of globalisation. The interchange and exchange of information and material meant for mutually beneficial prospects between two or more countries constitute globalisation. According to a suggestion, “Globalisation is the term used to describe the process of removal of restrictions on foreign trade, investment, innovation in communications and transport systems” (Paul, 2008, p.55). The clear observation of this process will open a chamber of international participation in almost all the walk of economic enterprises. Under the franchisee of globalisation concept, the countries participating in joint economic ventures are supposed to be transparent and liberal among them in order to make the process of eliminating the constraints easier and better rewarding. Among the most important barriers of international trade, economic policies and related legislations of different countries stand first. Therefore, it is important to see that globalisation in its real meaning is possible only if the economies of the participant countries are liberalized. Globalisation thus allows the entry of secluded economies to an open and wide spectrum of international economy where the trade of commodities and exchange of information and technology are more feasible. Even though globalisation essentially used to refer to economic activities between nations, the positive effect of this concept is seen across almost all fields involving collectively managed operations. Globalisation in Education Unlike in the past when education was meant learning prescribed textual material and obtaining grades in the follow up examinations, the new world demands much more from students. The basic argument is that education has grown so much from its dictionary meaning and has taken a new meaning to itself. The present day world needs the students to focus on various things outside the syllabi meant for the completion of their respective academic course. With the entry of the concept of globalisation, the employment sector of the world’s leading economies initiated coalitions and foreign investments. Companies and organisations started searching higher levels of talents through which their highly held objective of multitasking brilliance becomes achievable. According to Tandon (2005), the standard of education required to meet the present day requirement at the international level should focus on the promotion of awareness about the changes in the size of the employment environment by developing students to face the world with more conceptual commitment along with improved competency to face challenges at international levels. Leading educational institutions under different universities have set up their branch units at various centers across the globe with the mission of producing competitive talent from the diverse population of the world. Focusing education as an essential factor of globalisation encourages the corporate firms to establish their business by investing in various countries. Besides this, the state owned institutions are also undertaken by them for the purpose of quality assurance meant for developing superior human resources meant for multinational companies. Apart from this, the students enjoy the benefit of easy international job market exposure once they finish their education from a reputed and globally renowned institution. This opportunity is guaranteed by most of the large universities with their global participation with a large number of business organisations in providing campus selection for talented students. Crossing the criticism of ‘brain-drain’ as feared by many developing nations, MNCs set up their branches in various countries and provide employment to the qualified aspirants in diverse categories. Presently, there is a list of companies that hire students at respective campuses with better rewarding jobs whereby establishing prosperous platforms of career models. The benefit of higher education with comprehensive skill development is visible in the macroeconomic sphere. Evidently, the American economy is witnessing an increasing gap between employees with college degrees and workers with qualification as low as high school diplomas. It must be noticed that the basic reason for increasing economic disparity is the difference in quality of education possessed by both skilled and unskilled categories. Education at global standard thus become essential as the modern trend necessitates the objective of higher skill levels achieved through international standard of academics. From this viewpoint, it can be seen that globalisation has changed the meaning of education for a positive cause by improving employment opportunities by guaranteeing the employability of students along with their higher education practices. Globalisation of Technology The rapid development in technology and its widespread reach to the people all over the world is indebted to the concept of globalisation. It is easy to understand that the term technology covers a wide range of activities where generation, development and transfer of knowledge are carried out for the purpose of producing materials and information for the purpose of making economic benefits. The most significant feature of globalisation is that it provides platform for emerging nations in the arena of international standards of innovative advancements. This fact is identified in the cases of aeronautics, defence and space research apart from medicine and related researches. The introduction of globalisation of technology has brought wider opportunities for scientists and technicians to jointly work for higher order project and bring out optimum results within minimised cost. It is also important to notice that the present-day- world requires endless induction of new things and information to match the demands of the people as technology is the fact that makes life easier. This fundamental fact is to be proven meaningful with the creation of global organisations that facilitate the collective effort of technically qualified individuals from different part of the world. The International Association of Engineers (IAENG) is an example of such organisations that identify the globally spread talents and promote the worth of innovative enterprises of engineers to propagate the value of technology globally. Such organisations not only work as a warehouse of creative talents, but also ensure the globalisation of technology. Globalisation of technology has helped the world in many ways. Most importantly, this concept has brought tremendous progress in the standards of healthcare, transportation, communication and the list goes endless. Modern transport systems of many developing economies are operated with the collaboration of international technology. Governments of such countries invite global participation in the operation of such systems with a view to improve the domestic facilities with reduced investment and faster accomplishment of the project. Moreover, the transfer of technology from one country to another is beneficial for both the maker and the buyer in terms of money. The evidences of globalisation of transport technology varies from the private vehicle industries located in various countries to the locomotive manufacturing giants engaged in the making of railway systems across many countries. Thus it is easily noticeable that transfer of transportation technology from one country to another country and the establishment of their manufacturing unit at large markets became possible through globalisation. Globalisation and Healthcare Industry Globalisation has presently reached the heart of medical science and healthcare, particularly in America. To emphasize the importance of this face, there are reports to show the trend of increasing practice of medical tourism. The availability of better medical care at a distant place naturally attracts the patients who take the tour for multi-dimensional benefits. This tendency brought by globalisation keeps the healthcare organisations and government departments with a call of duty. According to a report, “even a modest surge in global medical tourism could prove a powerful catalyst for government bureaucracies and sclerotic American health-maintenance organisations to think afresh about what they do” (The Economist, 2008). International collaboration of technology has also contributed much to the development in healthcare in the recent decades. Corporate hospital groups are setting up their branches in different countries and providing quality services while providing employment opportunities to the qualified individuals in each locality. Such an enterprise inspired by globalisation benefits the patients by providing superior quality medical care within their reach at reasonable costs. Besides this, the entry of such hospitals motivates the hopes of students with an inspiration to pursue their studies in healthcare sciences. As such, it may be seen that globalisation brilliantly supports the promotion of qualified and dedicated employees for the medical service. Development of Business Activities with Globalisation The very term ‘globalisation’ indicates a large picture of business and economic activities operated across the world. The present shape of the business world has been the result of a very long transformation process. In this process, the role of World Trade Organisation (WTO) is remarkable. Globalisation of business and economic activities took place rapidly after the establishment of WTO. The organisation is doubtlessly the global ruler of international trade that oversees the business activities of about 135 member nations including America (WTO, 1996). The organized structure of business governance across the world has provided wide range opportunities to many emerging companies and investors to try their fortune in the international markets. Today, the situation in business is such that ‘touch anything, and that is globalised’. The commodities and services meant for sales are endless as the market area is much wider than it was before the introduction of the globalisation concept. Banks, software industries, brand sales agencies, wholesalers, retail business outlets and the endless list of business participants join the line of beneficiaries of globalisation. Since the idea of global village and global communities entered the business world with the introduction of WTO, there has been a steady growth in the world economy. The more identifiable changes took place in the developing economies like India where there is abundant human resource waiting for foreign investment. The emergence of a number of companies based on information technology (IT) and knowledge process outsourcing (KPO) industries as part of business globalisation helped the governments to deal with the unemployment problem among the educated and skilled locals. From the business perspective, the good side of globalisation is it creates easy opportunities for manufacturers and distributors to enter the global market without regional barriers while it provides them with wider scope for easy borrowing from international creditors. The barriers of international business and other economic activities existing in the world from the disparities of economic and foreign policies of different countries have been effectively handled by the governments through global business summits and invitation for foreign investments. It can be observed that as the best device of globalisation of business, foreign direct investment (FDI) is observed as the most efficient means to explore the possibilities of smart investment at locations where high level of production potential is available with the purpose of generating better profit while rendering highly rewarding jobs (WTO, 1996). An Overview of Benefits Despite the long list of criticisms to highlight the bad sides such as dilapidation of nature or socio-economic disparity, the concept of globalisation has brought commendable advantages to the economic world. First and foremost, it has increased the competition among the sellers, and as a result, the buyers earned the benefit of quality products in the market. Globalisation also provides relocation of investors in search of profitable centers in developing countries by generating employment opportunities to the locals. Apart from this, several global companies have emerged as promoters of business in target countries where they invest capital for the free trade of the foreign management. The promotion of foreign trade under globalisation guarantees help to the manufacturers located in different parts of the world to come to the open market for selling their products. Globalisation not only increased the scope of business and technology, but also substantiated the interchange of culture and traditional values among different countries. The exchange of such life-oriented values works as a platform for the exercise of global peace and universal brotherhood. Conclusion Globalisation has been one of the broadest concepts in socio-economic arena of the present day world. It covers every aspect of economically viable human enterprise with a view to take each effort to the international level. The term globalisation stands emphatic because of the benefits it has brought to the world in multiple fields like education, healthcare, transportation, technology and business. It has generated higher and better levels of profit opportunities for smart investors by relocating them at optimum centers of operation. Presently the idea of globalisation stands as a connecting link between the money of people and their ideas across the world for the promotion of more feasible business and economic activities. References The Economist (2008) Globalisation and health care Operating profit. Available at: http://www.economist.com/node/11919622 International Association of Engineers. About IAENG. Available at: http://www.iaeng.org/about_IAENG.html Paul J (2008) Business Environment:Test & Cases. New Delhi: Tata McGraw-Hill Education. Tandon S. (2005) Globalization: Impact on Education. Available at: http://www.satishtandon.com/globaledu.html World Trade Organization News (1996) Foreign direct investment seen as primary motor of globalization; says WTO Director-General. Available at: http://www.wto.org/english/news_e/pres96_e/pr042_e.htm Read More