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Globalization


Globalization is the tendency of businesses, technologies, or philosophies to spread throughout the world, or the process of making this happen. The global economy is sometimes referred to as a globality, characterized as a totally interconnected marketplace, unhampered by time zones or national boundaries. The proliferation of McDonalds restaurants around the world is an example of globalization; the fact that they adapt their menus to suit local tastes is an example of glocalization (also known as internationalization), a combination of globalization and localization.
Whether or not the establishment of the global marketplace will be beneficial is in dispute. Proponents believe that globalization has the potential to create greater opportunities for growth throughout the world, benefiting the developed nations while leveling the playing field everywhere else; opponents of globalization believe that it will merely increase the opportunities for the wealthier nations to take advantage of the poorer ones and, furthermore, could eradicate regional diversity and lead to a homogenized world culture.







Globalization Advantages and Disadvantages
Some Advantages Some Disadvantages
• Increased free trade between nations
• Increased liquidity of capital allowing investors in developed nations to invest in developing nations
• Corporations have greater flexibility to operate across borders
• Global mass media ties the world together
• Increased flow of communications allows vital information to be shared between individuals and corporations around the world
• Greater ease and speed of transportation for goods and people
• Reduction of cultural barriers increases the global village effect
• Spread of democratic ideals to developed nations
• Greater interdependence of nation-states
• Reduction of likelihood of war between developed nations
• Increases in environmental protection in developed nations countries • Increased flow of skilled and non-skilled jobs from developed to developing nations as corporations seek out the cheapest labor
• Increased likelihood of economic disruptions in one nation effecting all nations
• Corporate influence of nation-states far exceeds that of civil society organizations and average individuals
• Threat that control of world media by a handful of corporations will limit cultural expression
• Greater chance of reactions for globalization being violent in an attempt to preserve cultural heritage
• Greater risk of diseases being transported unintentionally between nations
• Spread of a materialistic lifestyle and attitude that sees consumption as the path to prosperity
• International bodies like the World Trade Organization infringe on national and individual sovereignty
• Increase in the chances of civil war within developing countries and open war between developing countries as they vie for resources
• Decreases in environmental integrity as polluting corporations take advantage of weak regulatory rules in developing

Globalization is the need of the hour because is done globally and the world thinks internationally hence globalization is must and if the companies don’t adopt this policy they will soon perish