Essay on Globalization is the Shrinking of Our World

The risk that comes with globalization connects between countries, culture and businesses. In today’s society, managers have more to deal with as the idea of outsourcing and cultural differences have made things a bit complex for the parties involved. Some companies might feel going to different countries for business could become a liability. For instance, if a U.S. company goes to Japan, events like the Japanese 9.0 magnitude earthquake that killed 20,000 people could cost them. This limitation of globalization effects everyone involved. Supply chains around the world were disrupted from the manufacturing plants being shutdown. In addition to natural disasters, there are also political, economical and financial risk to consider. However, a positive aspect of globalization is that is creates jobs for the economy. For those who couldn’t work due to the lack of jobs already in their country, they can now earn money to feed their families and establish a working class.

Globalization is increasing interdependency of nations and businesses throughout the world. It has had a profound effect on both markets and production. It has lowered or eliminated government barriers to export-import trade. Gives firms access to the worlds vast offerings of food, clothing, and other manufactured goods. Companies can also benefit from foreign manufacturing, shifting factory production to less developed, cheaper labor countries.

One of the core tenents to running a business is for a business to make money and to increase in size. As a result of that engaging in activities that increase a businesses capability to make money and increase its size is of great importance. Furthermore, as a result of that focus on increasing the sizes of businesses, globalization has furthered the spread of business. Globalization influences the world economically,

From a more micro view of the impact of globalization on the United States, the impact of globalization on the United States is many-fold. The first impact is on jobs. Good jobs have drained from the US economy and have reached China, South East Asia, and other countries where the workers get lower salaries. The reduction in wages for workers strongly influence companies because it leads to an increase in profits. With globalization, outsourcing and offshoring has increased. When a company contracts out its HRM functions, book-keeping, and software making, it is outsourcing. Outsourcing can result in specialized services, lower costs, and no need for capital investment. In offshoring, instead of availing itself from domestic service

Every single major company, not only in the United States, but in the world, has contributed to globalization. It’s hard to find a large organization that has not opted to outsource for materials or labor. Businesses and consumers find themselves enjoying most of the effects of globalization. With the countless benefits of it, the drawbacks are often not discussed. This video did a great job of explaining how globalization might be negatively impacting our economy; however, the video also did not undermine the clear advantages.

The business activity of companies in most industries is affected by the process of globalization. The need of globalization was determined by the necessities of companies that had to address markets in other countries in order to expand their business. In addition to this, they had to reduce their costs by hiring employees from other countries, and by outsourcing some of their processes to other regions.

Globalization has changed the way companies handle business and the jobs individuals can obtain. Companies have moved their labor overseas due to cheaper labor and production costs. According to Tarique, one of the nine drivers of international of business is the search for new markets and reduced costs. This means that companies are looking for new markets and lower-cost operations. These are found in other countries (15). Offshoring would be an example of this driver. Companies in the United States are moving their operations overseas to countries like China because labor costs are cheaper and products are cheaper to obtain and produce.

The term globalization based on business ideas can be defined as the process of extending to other parts of the world to develop an increase in the integrated global economic system from utilizing cheap labor from foreign markets, free flow of capitol, and free trade. This can all be good for business in that it makes operating in foreign markets more efficient. The term good can be defined as having profit, advantage or benefit. Therefore, globalization is good for business in that it benefits the organization by increasing profit in other world markets.

Have you ever stopped to wonder how the countries in the world interact with one another? Globalization is one way. Globalization, in my opinion, is the process in which people, goods, and ideas are spread throughout the world. This economic trend is the reason that someone can go to a Nike store in the United States as well as in England or even China. Globalization has costs and benefits, or negative and positive aspects, for every country. In my opinion, globalization's benefits outweigh its costs, and overall is a good thing to happen to our world.

Globalization is a phenomenon of our time that has fundamentally changed many areas of our lives, it has changed the way business is conducted around the world and it has impacted the environment around us, but unfortunately it also has a dark side. Globalization brings positive and negative impacts changes, it creates jobs but it also takes away jobs, it improves infrastructures in some parts of the world but it makes it difficult for small local business to survive in other parts of the world.

Globalization is a result of each country around the world, depending on one another for certain products as well as needing them to buy specific exports. Without it, no country can flourish and with it, there will always be inequality. It is something that is vital to our country as well as those around the world. The risk of inequality is outweighed by the possible benefits of globalization.

There are a wide variety of opportunities that come along globalization. The Small Business Encyclopedia references to it as “the process by which the economies of countries around the world become increasingly integrated over time. This integration occurs as technological advances expedite the trade of goods and services, the flow of capital, and the migration of people across international borders” (Globalization, 2008). First, Globalization brings the opportunity to free trade which brings a subsequent effect on the global economy. Free trade will encourage more trade which increases financial flows. By having increased financial flows, business and countries will have financial power that can be redistributed to pull

Globalization is a concept involving the integration of international nations amongst domestic companies, and individuals. It encompasses not only the day-to-day activities of businesses that work internationally, but also spans into the processes of offshoring, moving entire production facilities, or even the entire company overseas for financial reasons, and outsourcing, sending pieces of their domestic production lines or facilities to international regions due to lower cost, or higher skilled labor. Globalization presents significant opportunities for international corporations. Until pro-international business treaties such as NAFTA were incorporated, most businesses had no real competitive labor pool. Factories could only hire labor domestically for the most part, and were limited by labor unions who upheld strict regulation, along with pay increases which increased labor costs as time passed. After pro-globalization regulations had passed in America, multinational corporations began testing the waters to see what would significantly boost their profits. These corporations sought out underdeveloped nations, such as Mexico, Thailand, Pakistan, India, and China; as a result, these corporations began aggressively building factories in these countries, initially sending production jobs that were formerly in the United States, Canada, or England to these countries, these corporations later sent their customer service jobs overseas

Globalization first was introduced in the 1990s, but is considered and is accompanying the growth of businesses internally even now in the 21st century. Globalization is based on some factors that are simple to understand but hard to implement. Advancement of technology: Advance in technology increased the communication and travel internationally and made it easy and fast. Which in turn made the world seem small. Resulting in people understanding international events and news. Consequently, increasing travel internationally and presenting better opportunities. This understanding leads to increase in international trade and multiple MNC (multinational companies). All the above said increases mean an integrated economy around the world.

Globalization is the leading idea that has become the leading factor in business during the previous decades. This trend is affecting the economy, business life, society and the environment in a multitude of ways and nearly all businesses have been affected by these various changes. Some of these changes are related in part to the increasing competition and the rapidly changing technologies for information transfer. Challenging these changes will take some work on the part of companies; they need to keep in mind the key effects of globalization. If companies want to stay productive and relevant that is.