Summary of costs/benefits

Globalization is the spread of products, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of nations around the globe fostered through free trade.

First and foremost, globalization has spread American influence throughout the world. Globalization has opened up more markets for the United States, which in effect helps American companies sell their products worldwide. Globalization also allows for cheaper products for Americans to purchase and lower prices.

At the same time, global economic growth and industrial productivity are both the driving force and the major consequences of globalization. They also have big environmental consequences as they contribute to the depletion of natural resources, deforestation and the destruction of ecosystems and loss of biodiversity.

Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less money.

Globalization allows many goods to be more affordable and available to more parts of the world. It helps improve productivity, cut back gender wage discrimination, give more opportunities to women and improve working conditions and quality of management, especially in developing countries.

Economic globalization is increasing GDP in all participating countries. At the same time, however, it is also intensifying the shortages in all national economies. This can lead to growing social tensions that have a negative impact on economic development. Social tensions can also lead to increasing populism.

Globalization is associated with rapid and significant human changes. The movements of people from rural to urban areas has accelerated, and the growth of cities in the developing world especially is linked to substandard living for many. Family disruption and social and domestic violence are increasing.

Some argue that globalization is a positive development as it will give rise to new industries and more jobs in developing countries. Others say globalization is negative in that it will force poorer countries of the world to do whatever the big developed countries tell them to do.

Globalization is about the interconnectedness of people and businesses across the world that eventually leads to global cultural, political and economic integration. It is the ability to move and communicate easily with others all over the world in order to conduct business internationally.

The Benefits of Globalization

• Increased Flow of Capital.
• Better Products at Lower Prices.
• Collaboration and Shared Resources.
• Cross-Cultural Exchange.
• Spread of Knowledge and Technology.
• Quick Technological Advances.
• Increased Household Income.
• Increased Open-Mindedness and Tolerance.

Globalization benefits everyone, but gains unevenly distributed: study. According to a new study measuring the gains brought about by globalization, everybody wins — especially those in industrialized countries. Yet the gains are unevenly distributed, both between and within countries.

Economic growth is the main channel through which globalization can affect poverty. What researchers have found is that, in general, when countries open up to trade, they tend to grow faster and living standards tend to increase. The usual argument goes that the benefits of this higher growth trickle down to the poor.

Global communication is directly affected by the process of globalization, and helps to increase business opportunities, remove cultural barriers and develop a global village. Thanks to global communications, information itself can be transferred as a valuable business asset from one country to another.

The Pros and Cons of Globalization

• Pro 1: Globalization broadens access to goods and services.
• Pro 2: Globalization can lift people out of poverty.
• Pro 3: Globalization increases cultural awareness.
• Pro 4: Information and technology spread more easily with globalization.

Globalization also have its side effects to the developed nations. These include some factors which are jobs insecurity, fluctuation in prices, terrorism, fluctuation in currency, capital flows and so on.

It has had a few adverse effects on developed countries. Some adverse consequences of globalization include terrorism, job insecurity, currency fluctuation, and price instability.

Globalization of culture contributes to the exchange of cultural values of different countries, the convergence of traditions. For cultural globalization characterized convergence of business and consumer culture between the different countries of the world and the growth of international communication.

Communicating helps people to express their ideas and feelings, and it, at the same time, helps us to understand emotion and thoughts of the others. As a result, we will develop affection or hatred toward other people, and positive or negative relationships will be created.

The importance of communication in globalization is paramount because individuals from different countries, ethnicities, languages, cultural attitudes and other variations must understand one another and express themselves to another effectively in order to work together.

Being able to communicate effectively is one of the most important life skills. Those with good interpersonal skills are strong verbal and non-verbal communicators and are often considered to be “good with people”. to learn. Communication is defined as transferring information to produce greater understanding.

Being able to communicate effectively is perhaps the most important of all life skills. It is what enables us to pass information to other people, and to understand what is said to us. Communication skills may take a lifetime to master—if indeed anyone can ever claim to have mastered them.

The effect of communication in relaxing people is also observed in meta-communication in which one is involved with nonliving things as well. Growth of social values, physical structures and increase in the overall intellectual level of a society are result of the net effect it receives from the everyday communication.

A lack of communication can ultimately lead to low morale. Because ineffective communication can create misunderstandings, missed opportunities, conflict, the dissemination of misinformation and mistrust, employees might just feel overall defeated.

Communication problems

• Cultural differences.
• Attitude.
• Lack of motivation.
• Listening skills.
• Written communication quality.
• Appropriate communication tools.
• Oversharing.

7 Causes of Bad Communication

• Ego. Attitudes towards others on the team, be it regarding gender, ethnicity, education, religion, childhood issues they are harboring, etc.
• Culture clash.
• Ignorance.
• Politics.
• Power and Hierarchy.
• Distance and Time Zones.
• Preconceived judgments.

Communication difficulties can be caused by:

• Hearing loss.
• Chromosomal conditions (e.g. Down syndrome)
• Cerebral Palsy.
• Stroke.
• Traumatic brain injury.
• Head and neck cancer (e.g. brain tumour)
• Parkinson’s Disease.
• Multiple Sclerosis.