To some extent, globalization has been positive to the world, not only can it make more efficient markets, but also it creates more opportunities for firms in developing countries. In general, economic globalization is dominated by developed countries, the developing countries tend to be at a disadvantage. It has widened the gap between rich and poor. Globalization is a double-edged sword, as the popular saying goes, everything has two sides, just like a coin.
The term globalization refers to the process of the world movement toward economic, financial, trade, and communications integration with free transfer of capital, goods, and services across national frontiers. Globalization not only move people closer but also companies. You can make a call to someone who lives in another part of the world, a click to purchase American products and a word to start business. Behind benefits there is also costs of globalization that not often revealed because the truth is not always what people want to hear. Some country makes them comfortable at the expense of making others miserable.
As globalization has it’s advantages and disadvantages both, but its positive affects are beneficial to the global world and thus people support the idea of globalization such as; the positive effects of globalization on economy, culture and education and the negative effect of economy on environment (as pollution, unemployment and child labor) and finally its benefits. As globalization has its advantages in many different fields, but the most important is education and culture that is directly related to the literary standards of the people of a country. The world, where we live today has been made of different many cultures. As while people immigrate to other countries adapt to the other culture or spread their own culture in that country. Societies become more developed when the people from different countries tent to live there.
International marketing can help open up a bigger business than your organization would have the capacity to reach generally. With a bigger business sector comes the potential for more profits and a more prominent client base. Global promoting introduces a completely new population with your products and services and can possibly significantly build your organization 's acknowledgment and compass. While the cost connected with international marketing on a vast scale can be restrictive for some small companies, the potential prize can far exceed the danger. Small companies can in some cases gather as one or accomplice with a current marketing organization or system to help lessen the money related and logistical weights
It also depends on the success of the business itself including employee relations, environment and successful explanation of company’s objectives. It is extremely crucial for the organization that workers perform well by demonstrating Organizational Citizenship Behaviour (OCB). Nowadays firms have to be very competitive, innovative and respond instantly to changes in the market and for this they need hard-working and dedicated employees. OCB encourages behaviour such as helping others at their job, suggesting improvements and putting in extra time and effort to complete the job effectively and efficiently to meet deadlines. Leader-member exchange highly improves job quality and fulfilment and aids in demonstrating OCB.
For example, if the manufacture of toys found that manufacturing and delivery at a lower cost because of lower foreign country in a foreign country because of lower wages of migrant workers, the company may close the plant using domestic and foreign manufacturers. Strengthen global outsourcing business without barriers on a planet without borders. As the undertaking think global, outsourcing their model was modified to go with the same patter. Outsourcing is no longer just be a quick glance to achieve a decrease in consumption. Global Outsourcings using a mixture of on-site, at the sea and close to shore outsourcing decisions in order to achieve important business destination for outsourcing association.
1.4.1 Global Brand Concepts A global brand is considered as a variable that refers to the effects of globalization on consumers’ behaviour because many consumers believe that the global brands create high quality and brand value over the local brands (Sandıkcı et al. 2015). This perception influences their behaviour towards the global brand positively even though it may not be better than the local brand. They prefer the global brands to enhance the level of their satisfaction in life and have a high believe that what they are purchasing is of superior quality (Sandıkcı et al. 2015).
Ackerman (1999) also claimed that corruption increases poverty because the poor cannot get access to real available social services. In a nutshell, economic globalization has both positive and negative aspects. Nevertheless, it is involved with how we adapt to economic globalization. From a personal stance, economic globalization provides people with better living standard. It not only makes the world more united, but it strengthens the quality of the world citizen as well.
A customer retained is a business success. Companies today employ strategies for retaining customers in order to develop customer loyalty. Long term customer relations are ensured with long-term relationship management and relationship marketing. Service firms engage in recruiting competitive employees and training them in order to satisfy their customers, thereby safeguarding their service success. According to Kotler and Armstrong customer satisfaction is the “the extent to which a product’s perceived performance matches buyers’ expectations”.
This phenomenon has various advantages and disadvantages depending on our concerns. This paper presents the effects globalization on developing nations, with the focus on the issues: economic state, health system and education. Globalization has benefited the economy of many developing countries, their economy is growing and flourishing. But these processes are progressing slowly so that they cannot keep up with developed countries and the income inequality is rising. Organizations such as WHO, NGO and Doctors Without Borders, which emerged in the process of globalization, opened new possibilities to increase the overall life expectancy and living standards in developing countries by trying to eliminate diseases and provide education.