MOdule 1 (Globalization)
MOdule 1 (Globalization)
LEARNING OBJECTIVES:
Agree on a working definition of globalization for the
course
Differentiate the competing conceptions of
globalization
Narrate a personal experience of globalization
LENSES of Defining Globalization…
• EXPANSION
• creation of social networks
• multiplication of existing connections
• cut across political, economic, cultural, geographic boundaries that
occur in different levels
• INTENSIFICATION
• Stretching and acceleration of these networks
• Trading increase exponentially at higher speeds
• BPO companies present in the country
GLOBALIZATION:Working Definition
• 1. Cultural
• 2. Economic
• 3. Political
• 4. Social
• 5. Industrial
• 6. Technological
EXAMPLES OF GLOBALIZATION
Globalization in Economics
Globalization in Technology
• Economic impact
– Improvement in standard ofliving
– Increased competition amongnations
– Widening income gap between the rich and
poor
• Social impact
– Increased awareness of foreign cultures
– Loss of localculture
• Environmental impact
– Environmental degradation
– Environmental management
ADVANTAGES
Peaceful Relations
Most of the countries have resorted to trade relations with each
other in order to boost their economy, leaving behind any bitter
past experiences if any.
Employment
Considered as one of the most crucial advantages,
globalization has led to the generation of numerous
employment opportunities. Companies are moving towards the
developing countries to acquire labor force.
Education
• A very critical advantage that has aided the population is the
spread of education. With numerous educational institutions
around the globe, one can move out from the home country
for better opportunities elsewhere.
Product Quality
• The product quality has been enhanced so as to retain the
customers. Today the customers may compromise with the
price range but not with the quality of the product. Low or
poor quality can adversely affect consumer.
Cheaper Prices
Globalization has brought in fierce competition in the markets.
Communication
• Every single information is easily accessible from almost
every corner of the world. Circulation of information is no
longer a tedious task, and can happen in seconds. The
Internet has significantly affected the global economy,
thereby providing direct access to information and products.
Transportation
• Considered as the wheel of every business organization,
connectivity to various parts of the world is no more a serious
problem. Today with various modes of transportation
available, one can conveniently deliver the products to a
customer located at any part of the world.
GDP Increase
• Gross Domestic Product, commonly known as GDP, is the
money value of the final goods and services produced within
the domestic territory of the country during an accounting
year.
Travel and Tourism
Health Issues
• Globalization has given rise to more health risks and
presents new threats and challenges for epidemics.
• The dawn of HIV/AIDS. Having its origin in the wilderness
of Africa, the virus has spread like wildfire throughout the
globe in no time.
• Food items are also transported to various countries, and
this is a matter of
concern, especially in case of perishable items.
Loss of Culture
• With large number of people moving into and out of a
country, the culture takes a backseat. People may adapt
to the culture of the resident country. They tend to follow
the foreign culture more, forgetting their own roots. This
can give rise to cultural conflicts.
Uneven Wealth Distribution
• It is said that the rich are getting richer while the poor are
getting poorer. In the real
sense, globalization has not been able to reduce poverty.
Conflicts
• It has given rise to terrorism and other forms of violence.
Such acts not only cause loss of human life but also huge
economic losses.
Cut-throat Competition
• Opening the doors of international trade has given birth to
intense competition. This has affected the local markets
dramatically. The local players thereby suffer huge losses
as they lack the potential to advertise or export their
products on a large scale. Therefore the domestic
markets shrink.
Globalization lets countries do what they can do
best. If, for example, you buy cheap steel from
another country you don’t have to make your own
steel. You can focus on computers or other
things.