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    Cont - World Globalization

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    Ea Yang
    This document defines globalization as the increasing interaction between people, states, and countries through the growth of international flows of money, ideas, and culture. It primarily focuses on the economic integration process that also has social and cultural aspects. Globalization allows for easy movement and communication across the world to conduct international business. Some key reasons for globalization include finding political and economic stability in other countries, being close to raw materials and markets, and gaining technological and managerial knowledge from more advanced countries. The merits of globalization include innovation, higher export job pay, faster growth of living standards and productivity, while the demerits include job losses and threats to sovereignty and regulation.

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    Cont - World Globalization

    Uploaded by

    Ea Yang
    22 views13 pages
    This document defines globalization as the increasing interaction between people, states, and countries through the growth of international flows of money, ideas, and culture. It primarily focuses on the economic integration process that also has social and cultural aspects. Globalization allows for easy movement and communication across the world to conduct international business. Some key reasons for globalization include finding political and economic stability in other countries, being close to raw materials and markets, and gaining technological and managerial knowledge from more advanced countries. The merits of globalization include innovation, higher export job pay, faster growth of living standards and productivity, while the demerits include job losses and threats to sovereignty and regulation.

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    Original Title

    CONT.WORLD GLOBALIZATION

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    This document defines globalization as the increasing interaction between people, states, and countries through the growth of international flows of money, ideas, and culture. It primarily focuses on the economic integration process that also has social and cultural aspects. Globalization allows for easy movement and communication across the world to conduct international business. Some key reasons for globalization include finding political and economic stability in other countries, being close to raw materials and markets, and gaining technological and managerial knowledge from more advanced countries. The merits of globalization include innovation, higher export job pay, faster growth of living standards and productivity, while the demerits include job losses and threats to sovereignty and regulation.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    22 views13 pages

    Cont - World Globalization

    Uploaded by

    Ea Yang
    This document defines globalization as the increasing interaction between people, states, and countries through the growth of international flows of money, ideas, and culture. It primarily focuses on the economic integration process that also has social and cultural aspects. Globalization allows for easy movement and communication across the world to conduct international business. Some key reasons for globalization include finding political and economic stability in other countries, being close to raw materials and markets, and gaining technological and managerial knowledge from more advanced countries. The merits of globalization include innovation, higher export job pay, faster growth of living standards and productivity, while the demerits include job losses and threats to sovereignty and regulation.

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    of 13

    THE CONTEMPORARY WORLD

    CHAPTER 1

    THE STUDY OF
    GLOBALIZATION
    DEFINITION OF
    GLOBALIZATION:
    O Globalization is the increasing interaction of
    people, state, or countries through the growth
    of the international flow of money, ideas, and
    culture. Thus, globalization is primarily
    focused on economic process of integration
    that has social and cultural aspects.
    O It is he interconnectedness of people and
    business across the world that eventually lead
    to global, cultural, political and economic
    integration.
    O It is the ability to move and communicate
    easily with others all over the world in order
    to conduct business internationally.
    O It is the free movement of goods, services, and
    people across the world in a seamless and
    integrated manner.
    O It is the liberalization of countries of their
    impact protocols and welcome foreign
    investment into sectors that are mainstays of
    its economy,
    O It refers to countries acting like magnets
    attracting global capital by opening up their
    economies to multinational corporations.
    Historical Foundation of the term
    “Globalization”
    O In the late 1970’s, the word “globalization”
    was coined. In 2013, this term was used to
    mean “borderless society” referring to
    international migration.
    O In the early part of 1981, the term
    “globalization” had been used in it’s economic
    sense. However, in the late half of the 1980’s,
    Theodore Levitt popularized the term
    “globalization” by bringing it into the
    mainstream business audience.
    Nature of Globalization:
    O Globalization is a conglomerate of various
    multiple units located in the different parts of
    the globe which are linked by common
    ownership.
    The multiple limits draw on parts of the globe
    but all linked by common ownership.
    Dimensions of Globalization
    O 1. Planning to expand the business on a
    worldwide scope.
    O 2. Giving up the distinction between domestic
    and foreign market and instead developing a
    global outlook of such business.
    O 3. Global sourcing of the factors of production
    planning on a global market sphere.
    Reasons for globalization:
    OWhy do we have to
    globalize especially at this
    contemporary world?
    O 1. Companies and institutions go global to find
    political and economic stability which is
    relatively good in other countries than the
    country of origin.
    O 2. To be close to raw materials and to markets
    for their finished products which are not
    available in the country of origin.
    O 3. To get technological and managerial know-
    how of other countries due to their
    advancement in science, technology,
    education, health and other fields of discipline.
    Merits of Globalization:
    O 1. An open economy spur fast innovation with
    fresh ideas from abroad.
    O 2. Export jobs often pay more than other jobs.
    O 3. Living standards go up faster.
    O 4. Productivity grows more quickly when
    countries produce goods and services in which
    they are of comparative advantage.
    Demerits of Globalization:
    O 1. Several people lose their jobs when
    companies import cheap labor or materials or
    shift production abroad.
    O 2. Sovereignty of a country and
    company/institution may be at stake.
    O 3. Unregulated globalization can cause serious
    problems to poor and developing countries in
    terms of labor force, wages, benefits, job
    termination and others.
    The End!!!
    THANK
    YOU!

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