Among many, this is considered the worst side-effect of an increasingly globalised business world, as employees may find themselves suddenly without jobs – while others far away benefit from this trend….Outsourcing

Increased specialisation, economies of scale, greater efficiencies in production, acquisition of needed resources, increased competition, technological advances and expanding markets, all made possible by international trade, contribute to increases in domestic output, and therefore to greater economic growth.

Globalization leads to increased competition. This competition can be related to product and service cost and price, target market, technological adaptation, quick response, quick production by companies etc. When a company produces with less cost and sells cheaper, it is able to increase its market share.

• Lower wages and salaries.
• Fewer workplace restrictions.
• More favourable tax environments.

Other Globalization Examples The Olympics began in ancient Greece and continue today. Travel and tourism allows for the globalization of many things, like the exchange of money, cultures, ideas and knowledge.

Example 1 – Cultural Globalization The Silk Road which was made to encourage trade between China and the countries around the Mediterranean Sea will not only flourish the trade between these countries but at the same time also allow the exchange of culture and knowledge.

Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe.

– Globalization enhances the student’s ability to acquire and utilize knowledge. Globalization enhances the ability of learners to access, assess, adopt, and apply knowledge, to think independently to exercise appropriate judgment and to collaborate with others to make sense of new situations.

So in today’s world, globalization is an important concept for students in higher education to understand and appreciate because of the demand in business and industry to hire people who can work with people of other nations and cultures and if need be can travel independently internationally to promote their business …

Globalization of the world economies is leading to increase emphasis on internationalization of the subjects included in a course of study in school. It also creates the opportunities for new partnerships in research and teaching with agencies and institutions across the world.

Globalization affects you and me by giving people broader access to products and services, decreasing subsidies and tariffs, creating new opportunities for financial markets, giving national industries more access to international markets, and connecting national economies.

Without globalization, the would be a closed system. A closed system meaning we would not know what was going on in other countries. This also means no sharing of inventions and discoveries. Overall, there would not be any categorization of rich and poor countries.

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 negative consequences of globalisation for family life Globalisation = more media flows – children more active users of media, more exposed to global media events can have negative effects: More difficult for parents to prevent radicalisation (e.g. Shameena Begum)

AGAINST Globalization

• ONE BILLION PEOPLE OUT OF POVERTY.
• JOB LOSSES.
• COMPARATIVE ADVANTAGE.
• EROSION OF STATE SOVEREIGNTY.
• INCREASED INTERNATIONAL COOPERATION.
• INCREASED INEQUALITY.

ADVERTISEMENTS: Factors influencing Globalization are as follows: (1) Historical (2) Economy (3) Resources and Markets (4) Production Issues (5) Political (6) Industrial Organisation (7) Technologies. Globalisation though is basically an economic activity, is influenced by many factors.

The concept of Globalisation involves within its ambit the following features:

• Liberalisation:
• Free trade:
• Globalisation of Economic Activity:
• Liberalisation of Import-Export System:
• Privatisation:
• Increased Collaborations:
• Economic Reforms:
• Several dimensions of Globalisation:

Globalisation has social, economic, political cultural and technological dimensions. It involves all round inter-linkages among all the people of the world. Free flow of knowledge, technology goods services and people across all societies is it key feature.

Globalisation involves a conscious and active process of expanding business and trade across the borders of all the states….Features of Globalisation:

• Liberalisation:
• Free trade:
• Globalisation of Economic Activity:
• Liberalisation of Import-Export System:
• Privatisation:
• Increased Collaborations:
• Economic Reforms:

(i) Freedom of opening/starting production units. (ii) Use of new machines and technology. (iii) No government interference in production. (iv) Free flow of foreign investment.