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    Define Globalization

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    Christa Padilla
    Globalization refers to the increasing global relationships and interactions between people, cultures and economic activities worldwide. It describes the process by which the world is becoming more interconnected and people are becoming aware that constraints of geography on social and cultural arrangements are receding. Studying globalization is important for business students to understand the global business environment, develop skills like flexibility, intercultural communication and a sense of urgency that will help them succeed in an increasingly globalized world. While globalization has positive impacts like increased trade and development, it also has negative consequences such as uneven development across countries and loss of cultural boundaries.

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    Define Globalization

    Uploaded by

    Christa Padilla
    202 views3 pages
    Globalization refers to the increasing global relationships and interactions between people, cultures and economic activities worldwide. It describes the process by which the world is becoming more interconnected and people are becoming aware that constraints of geography on social and cultural arrangements are receding. Studying globalization is important for business students to understand the global business environment, develop skills like flexibility, intercultural communication and a sense of urgency that will help them succeed in an increasingly globalized world. While globalization has positive impacts like increased trade and development, it also has negative consequences such as uneven development across countries and loss of cultural boundaries.

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    Globalization refers to the increasing global relationships and interactions between people, cultures and economic activities worldwide. It describes the process by which the world is becoming more interconnected and people are becoming aware that constraints of geography on social and cultural arrangements are receding. Studying globalization is important for business students to understand the global business environment, develop skills like flexibility, intercultural communication and a sense of urgency that will help them succeed in an increasingly globalized world. While globalization has positive impacts like increased trade and development, it also has negative consequences such as uneven development across countries and loss of cultural boundaries.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    202 views3 pages

    Define Globalization

    Uploaded by

    Christa Padilla
    Globalization refers to the increasing global relationships and interactions between people, cultures and economic activities worldwide. It describes the process by which the world is becoming more interconnected and people are becoming aware that constraints of geography on social and cultural arrangements are receding. Studying globalization is important for business students to understand the global business environment, develop skills like flexibility, intercultural communication and a sense of urgency that will help them succeed in an increasingly globalized world. While globalization has positive impacts like increased trade and development, it also has negative consequences such as uneven development across countries and loss of cultural boundaries.

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    of 3

    1.

    Define Globalization:
    Globalization can be defined as a system of interaction or increasing global relationships
    between cultures, people, and economic activities among the countries of the world.
    Globalization in its simpler form refers to conglomerate exchange of languages, ideas, and
    cultures. (Albrow & King, 1990)
    Globalization, as a concept, is used to describe the process by which the world is transformed
    into a single arena. Globalization is not merely an economic phenomenon; rather it covers all the
    aspects of modern life: the economic, the cultural, the political, the humanitarian, the social, and
    the ecological. In relation to these aspects, the social scientists today increasingly concentrate on
    global phenomena. (Garai, 2015)

    According to M. Waters, Globalization is a social process in which the constraints of geography


    on social and cultural arrangements recede and in which people are becoming increasingly aware
    that they are receding. (Waters, 1995)

    2. Positive and Negative effects of Globalization


     Worldwide Interdependence (positive)
    From the report of (Betucci & Alberti, 2001), globalization is truly a complex
    phenomenon ‘which encompasses a great variety of tendencies and trends in the
    economic, social and cultural spheres’. It is dynamic and unpredictable, although
    not entirely disordered. Four major factors have been identified to be the driving
    forces pushing forward worldwide interdependence. They include
    entrepreneurship, liberalization of trade and investment, technological innovation,
    and global social networks.
     Worldwide Development (Negative)
    Globalisation today has now cleared the way for worldwide development, but the
    progress is not “even” as some nations are getting integrated into the global
    economy faster than others as shown by these countries’ fast economic growth
    and reduced poverty levels (Lawal, 2006)
     Worldwide Development (positive)
    Thanks to globalization, developing countries now have access to new markets.
    And this has been taken full advantage of by several nations. This opening allows
    the transnational movement of labour, foreign capital, new technology and
    management to developing countries from the more industrialized nations.
    (Betucci & Alberti, 2001)
     World trade (positive)
    Again looking at the effect of globalization on world trade, and indirectly on trade
    in developing countries, it is quite obvious that it enhances economic growth. One
    of the emphasis of globalization is that member countries should open their
    markets to ensure open trading free of limitations. (Mubiru, 2003)
     Impacts on Developing Countries (negative)
    As claimed by Princová, globalization leads to wealth redistribution – ‘global
    richness and local poverty’. It makes the rich countries, in this case, the
    industrialized nations, to become richer, and the poor nations, the developing
    countries, to become poorer. (Princová, 2010)
     Cultural Boundaries (negative)
    In addition, globalization has resulted in the loss of cultural boundaries. In this
    wise, it has caused the extinction of several languages in many developing
    nations. The way languages are going extinct is very rapid, and this has been
    predicted to continue unless something can be done to stop the complex process
    of globalization (Cronin, 2003)

    3. How important is it to study Globalization?


    It is very important to study globalization because understanding the contemporary international
    political economy is an essential part of being an informed citizen. Understanding globalization
    is a very important part of learning about our human involvement with the environment and
    society. Our daily experiences at school, work, and home are an integral part of the globalization
    process. We live in an independent global political economy. The concept of understanding
    globalization provides us with the tools necessary to be productive members of our local and
    global communities. The purpose of studying globalization to understand the differences and
    similarities of different cultures and to understand how we are connected and at the same time
    separated from the world. (Steger, 2009)
    The second one I’ll be explaining is more specific. It is how important is it to study globalization
    as a business student.
    This section describes several general areas in which business students should learn about
    globalization. The first three areas deal with an understanding of the global business
    environment: a balanced perspective of globalization, implications of English as a global
    business language, and an understanding of global platforms. The final three areas deal with
    characteristics and skills that business students will need to succeed: flexibility and adaptability,
    intercultural communication and collaboration skills, and a sense of urgency. Each of these areas
    is described in reference to American business students; however, they could apply equally well
    to other nationalities and cultures.
    (Cardon, 2007)
    Bibliography
    Albrow, M., & King, E. (1990). Globalization, knowledge, and society. London: Sage Publications.
    Retrieved June 23, 2018, from https://www.ultius.com/ultius-blog/entry/research-paper-on-
    globalization-and-development.html

    Betucci, G., & Alberti, A. (2001). Globalization and the Role of the State: Challenges and Perspectives.
    United Nations World Public Sector Report 2001. Retrieved June 23, 2018, from
    https://pdfs.semanticscholar.org/9edd/97224bb2978453e6ff5c08afc56dd9e6064e.pdf

    Cardon, P. W. (2007). The Importance of Teaching About Globalization in Business Education. Global
    Business, 1-20. Retrieved June 23, 2018, from
    https://isbeusa.files.wordpress.com/2015/09/journal_global_business_may_2007_vol_7_ocr.pd
    f

    Cronin, M. (2003). Translation and Globalization. London: Routledge. Retrieved June 23, 2018, from
    https://lantrans.weebly.com/uploads/2/1/1/6/21169610/translation_and_globalization.pdf

    Garai, S. (2015). Globalization and Contemporary Society: A Sociological Analysis. International Research
    Journal of Interdisciplinary & Multidisciplinary Studies, I(VI), 113-118. Retrieved June 23, 2018,
    from http://www.irjims.com/files/Debsena-Garai_z0j23831.pdf

    Lawal, G. (2006). Globalisation and Development: The Implications for the African Economy. Humanity &
    Social Sciences Journal, 1(1), 65-78. Retrieved June 23, 2018, from
    https://pdfs.semanticscholar.org/6616/12fa88e5e2488cc1227d593ea57fe40cb346.pdf

    Mubiru, E. (2003). The effects of globalisation on trade – A special focus on rural farmers in Uganda.
    Africa. Retrieved June 23, 2018, from https://www.scribd.com/document/42417659/Edward

    Princová, K. (2010). Globalisation, vulnerability, poverty and human limits. In Beyond Globalisation:
    Exploring the Limits of Globalisation in the Regional Context, (pp. 131-137). University of Ostrava
    Czech Republic. Retrieved June 23, 2018, from http://globalization.osu.cz/publ/16-princova.pdf

    Steger, M. (2009). Globalization: A Very Short Introduction. Oxford: Oxford University Press. Retrieved
    June 23, 2018, from http://www.bookrags.com/essay-2005/4/4/93921/12419/#gsc.tab=0

    Waters, M. (1995). Globalization. London: Routledge. Retrieved June 23, 2018, from
    https://docs.google.com/file/d/0B0_FjdluRK7uZGMyYWMyNDItOTUwNi00ZmM4LThmYzctNGVj
    MThlMjU1MmZm/view

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