$20 Bonus + 25% OFF +
5
%
Cashback
information
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Reflective Essay On: The Impact Of Globalization

tag 90 Download6 Pages 1,493 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Explain the impact of globalisation on your own life and your country. It must be written in a reflective manner. Consider how modernisation and growth has affected your consumption behaviour, your thoughts, and have you seen evidences of changes that have been taking place in your country.
 

Are You Getting Buried Under the Overwhelming Academic Pressure?

Get the Much-Needed Essay Help from our Professionals and Secure High Grades
 
 

Answer:

The theoretical definition of Globalization defines globalization as integration of several nations and economies for the purpose of trade, foreign investments and capital migration. The opening up of the economies of several nations, for free trade purposes, supported with technological advancement of the twenty first century were the key supporters for the sudden spurt of Globalization in this modern age (Carr & Chen, 2001). The concept of Globalization is also commonly referred as ‘globality’, which refers to a boundary less, highly connected market place; such a market place which is neither distinguished by time zones, not the national borders of several countries (Pologeorgis, 2012). Globalization evolved as a necessity for several business organizations to reach out to larger consumer base spread across several parts of the world.  The Facilitation of global communications and social economic, technological, environmental and political revolutions developed this phenomenon.

The impacts of Globalization are commonly observed on the Personalities, character, lifestyle and behavioral traits of Individuals living in a globalised society. The globalization has in fact impacted every aspect of personal life of individuals, who are part of both developed as well as developing nations (Broda and Weinstein, 2006). One’s own life of an individual thriving in the twenty first century gets highly influenced in terms of vibrant exposure to divergent cultures, tastes and preferences, languages, religious ethos, etc. The intensity of this impact however, differs from person to person depending upon several demographic traits that bring the individuals closer to an international exposure. The demographic aspects may range from income level of the individual, age of the individual, the location of the individual, his nature of work, interests, etc. The Individuals belonging to developed nations are observed to be highly influenced by the impacts of globalization, in comparison to their counterparts belonging to poorer or underdeveloped countries (Mackay, 2000). The reason for this observation is pretty simple. The individuals belonging to the under developed countries are deprived of conducive environment, including the technological support and infrastructure, which makes them deprived to take the benefits of globalization.

 

There have been several studies conducted on the pros and cons of globalization in terms of adding values or difficulties in one’s own lives. The shaping of online social communities is one of the most interesting positive impacts of globalization on human life (Tisdell and Sen, 2004). This has lead to several instances of development of greater cultural understanding among the people, irrespective of the differences between them. Sharing of New Ideas, knowledge and new methods of working world wide, even in remotest part of the globe are the literal benefits of globalization to human life. The Globalization has also resulted in increased employment opportunities to the individuals across the globe. The national borders are no more the limits for individuals to search for their dream job (Thomas, 2000). Globalization has also facilitated changing of gender roles and securing women’s place in a work place, especially in the developing countries. The trend of having more skill intensive jobs, over mere qualifications, is also a positive impact of globalization. Many of the educational systems across the world are also preparing themselves to deliver industry ready candidates with globally accepted skills (Jackson and Andrews, 1999).

The phenomenon of Globalization has also brought in several difficulties in individuals lives along with positive impacts. The ill effects of the intensified competition across the globe, like increased job insecurity, increase in human trafficking are few of them. The world economies have been increasingly integrated through the internet and mobile phones. Outsourcing of work to different countries, especially having cheap labor is another problem face by individuals belonging to the developed nations (Wade, 2003). The programmers, accountants, scientist and editors belonging to these nations have limited job opportunities due to outsourcing of these jobs to cheaper locations like the Asian countries. The abundance of information has also resulted in to several privacy issues for individuals that ride on this globalization wave (Milanovic, 2003).

 

The Globalization has also severely impacted the Business models and Functionalities of several Business Organizations that employ these individual, giving them an opportunity to increase their exposure to the other parts of the world. The Proliferation of the Fast food restaurants McDonalds across the globe, by adapting the menus and offerings to suit the local tastes in the respective countries is the result of Globalization (Olivero, 2011). The Goods and services deployed by these businesses have achieved more easiness and speed in terms of transporting them to different parts of the world. Several of the Business corporations have achieved the ease and flexibility of setting up its business operations in desired locations across the globe. These minor reflections on the business level, results in consequent impacts on the country level. The diminishing possibility of probable tiffs between these exporting and importing countries is a major social advantage that nations enjoy, due to globalization (Broda and Weinstein, 2006). The increasing trade interdependence among the several nations has made this possible. The decreased communication barriers have enabled the government of the nations to solve the environmental problems like climatic changes, cross boundary pollution, etc. through discussions with each other (Mackay, 2000). Overall a spirit of multiculturalism has been fostered in the nations as the residing population of the nation has free individual access to cultural diversity. The Globalization has also benefited the nations to attract more international tourist, by enabling increased tourism development, trigged due to the opening up of the economies (Milanovic, 2003). These nations are also getting opportunity to participate in the world financial system, and attracting huge foreign investments in the nation. The investment avenues for the nations in terms of its treasury operations have also benefited largely.

 

The Globalization has also observed to give some negative impact at the country level. The budding small scale industries that are run by nascent entrepreneurs are suddenly exposed to intense international competition. As a result, many of the local industries in developing regions have become unsheltered and are taken over by the foreign multinationals (Milanovic, 2003). Several of the researchers have also compared this phenomenon of globalization, to be similar to the concept of Capitalism, as described by Sir Adam Smith. In both the situation, the gap between the poor and richer (individuals and well as nations) is widening resulting in to inequalities and poverty for the already poor nation (Wade, 2003). The increased amount of the Trans border information flow has also increased responsibility of effectively managing communication satellites and wireless networks to protect the critical data from information leaks and data thefts. The growing amount of cultural diffusion in the nation is also unhealthy for maintaining the age old traditions and customs of the land that are quickly modernizing and westernizing with the advent of globalization (Jackson and Andrews, 1999). The local communities of nations, especially in case of the developing nations, are aspiring to adapt ideas, product, practices and technologies with the western influence, leading to slowing fading of their own customs and practices of their land.

To conclude with, Globalization is a dual edge sword that has both positive and negative impacts on the individual level as well as national level. The Globalization has necessarily increased economic prosperity and opportunities in several developing nations, but has also deprived several qualified professionals from developed countries, thanks to its Outsourcing phenomenon. Overall the Globalization has facilitated sharing of resources, information and skills for the development and progress of the entire global economy.

 

References

1. Broda, C. and Weinstein, D.E. ,2006, Globalization and the gains from variety, Quarterly Journal of Economics, 121, 541-576.
 
2. Carr, M. & Chen, M. A., 2001. How global trade and investment impact on the working poor, International Labor Organization.
 
3. Friedman, Thomas L., 2007, The World Is Flat: A Brief History of the Twenty-First Century, Polirom Publishing House, Bucharest (Economy and Society Collection).
 
4. Mackay, 2000, The globalization of culture, in A Globalizing World? Culture, Economics and Politics, D. Held, ed.,London, Routledge/Open University Press.
 
5. Milanovic, B., 2003, The Two Faces Of Globalization: Against Globalization as we Know it, Development and Comp Systems, Economics Working Paper Archive at WUSTL No. 0303007.
 
6. J. Jackson and D.L. Andrews, 1999, Between and beyond the global and the local, International Review for the Sociology of Sport, vol. 34, No. 1, pp. 31-42.
 
7. Thomas, F., 2000, One Market under God. London: Seeker & Warburg.
 
8. Tisdell, C.A. and Sen. R.K., 2004, An overview of economic globalization: Its momentum and its consequences examined. Pp3-25.
 
9. Wade, R., 2003, Is Globalization Reducing Poverty and Inequality?, Development Research Center: London.
 
OR

MyAssignmenthelp.com possesses a talented team of assignment help tutors, who work round the clock to provide comfort to students, who wonder 'can someone assignment writing services at a cheap price'. With MyAssignmenthelp.com, students don't need to waste their time in searching 'help me with my assignment', instead, they can convey their requirements and receive needed help with assignment writing. Our popular servicers include math assignment help, accounting assignment help, marketing assignment help, etc.

Most Downloaded Sample Of Management

Toulin Method Of Argumentation

Download : 288 | Page : 1

You are required to write a researched argument essay that convinces persuades the reader of your position / stance. This is an academic, researched and referenced document that demonstrates your understanding of the objectives of the course. The structure of the argument will follow the TOULMIN METHOD of argumentation.

Read More arrow Tags: Australia Arlington Management University of New South Wales 

Consumer Behavior Assignment

Download : 211 | Pages : 9

Executive Summary The purpose of this report is to elaborate the factors which are considered by individuals before selecting an occupation. Choosing an occupation is indeed a major decision of everyone’s life and it does give a shape to where he would be heading in the course if time. The report begins with a list of various occupations which have been going since the human civilization started though it has indeed changed its form to...

Read More arrow Tags: Australia Arlington Management University of New South Wales 

Internet Marketing Plan For River Island

Download : 371 | Pages : 13

Introduction With the increase enhancement in the field of technology, it has been considered essential by the businesses to implement such technology in their business processes. Further, the increasing demand from the customers regarding the better quality of products and services delivered to their doorstep has also necessitated for the businesses to implement the e-business strategy in their business processes. E-business which is common...

Read More arrow Tags: Australia Arlington Management University of New South Wales 

Strategic Role Of HR In Mergers & Acquisitions

Download : 330 | Pages : 9

Executive Summary In a merger & acquisition, role of an HR has emerged as a very critical function. At each stage of merger and acquisition process, HR plays a strategic role. The importance of role of HR part in integration of the merged companies should not be taken lightly and should be handled very carefully and with due planning. At pre acquisition stage, due diligence should be taken before the start of the process and HR must carve ou...

Read More arrow Tags: Australia Arlington Management University of New South Wales 

Relationship Between Knowledge Management, Organization Learning And HRM

Download : 362 | Pages : 7

Introduction In this competitive business environment where every business organization is trying to attract the customers of each other, it becomes essential for these organizations to remain competitive by innovating new ideas and thoughts, so that value added products and services can be provided to the customers. The motive of such organization in providing value added services to their customers, require their employees to be quite effect...

Read More arrow Tags: Australia Arlington Management University of New South Wales 
Next
Free plagiarism check online Free plagiarism check online on mobile
Have any Query?