Globalization

Running head : Globalization

Analysis of the Concepts and Impacts of Globalization

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Concepts and Impacts of Globalization

A common perception of globalization is like treating the world as a shared market by breaking the physical and politico-cultural barriers Its practical implication is in the terms of corporate companies deciding to take part in the emerging global economy and by establishing themselves in foreign markets . These companies in a global environments adopt their products or services to the final user 's cultural requirements . The technology plays a vital role in expansion

of the businesses beyond traditional boundaries . These companies make best utilization of the Internet revolution and establish a virtual presence on the international marketplace with a multilingual corporate website or even as an e-business (Introduction to Globalization , 2004

Globalization is not a new concept any more , but it remains as intrigue as it was at its time of inception . It is an inevitable phenomenon . It has helped in bridging the gulfs between the world 's economic , political and cultural values and practices . The last two decades have witnessed a tremendous advancement in the field of technology canalizing way for much faster and dramatic application of the concept of globalization thereby coining the term of a `global village ' for the entire world . Its impacts on different nations , however , remain much debatable

Globalization has always been seen with suspicions and doubts specially by the developing countries . Everywhere there are intense debates about its positive and negative effects . On one hand , globalization is regarded by many as having the potential to make societies prosperous through open trade and investment and to bring knowledge and information to people around the world . The opponents however perceive globalization as contributing to the exploitation of the poor by the rich , a threat to traditional cultures , and interference in polity of sovereign states This has been designed to scrutinize globalization by first explaining the concept of globalization with its historical backdrop and then by viewing it analytically from various perspectives employing the conflict approach . The will also discuss social stratification and the positive /negative impacts of globalization before concluding major outcome of the research

What is Globalization

Globalization is not a simple term . It involves transformation of a series of interlocked activities carried out not only at regional but at global scale . A general perception of globalization process encompasses economic , social , technological , cultural and political changes in an effort towards increasing interdependence , integration and interaction between people and companies in disparate locations . It is theless characterized by the worldwide development of technology to condense the whole world into a small place , where people share societal norms through taking part in joint economic , political and cultural activities

A simplest of the explanations of globalization can be a process of denationalization of markets , politics , and legal systems (Introduction to Globalization , 2004 . International Monetary Fund (IMF describes globalization as growing economic interdependence of countries worldwide through increasing volume and variety of cross-b transactions in goods and services , free international...