Concepts Of Globalization Essay

CONCEPT OF GLOBALIZATION

Globalization is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. It is the process of growing and expanding to exist throughout the entire world.

The tendency to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization not only leds to increasing international trade, but also in cultural exchange.

Globalization is both boon and bane. Boon because firstly the more we share habits, products and services, the better we understand each other and this reduces prejudice against other nations. This also leads to modernity. It is a sign of progress in a society that people no longer are restricted to brands and advertisements

The term Globalization is based on a macro-sociological perspective. Globalization directs attention to relationships in a worldwide (global) and macro framework (Khondker 2004). The concept of Localization was created in response to Globalization and is more micro-sociological. The problem of such macro-micro relationships was the main reason for the development of the concept of Glocalization as a more holistic solution.

Glocal means a case in which a global product is altered in some manner in order to meet the needs of or appeal to local consumers. Glocalisation seeks to involve and thus acknowledge and local preferences and culture in products. As explained by Phillip Hong and In Han Song, glocalization corresponds to the integration of local markets into world capitalism.

Although this concept is not yet a part of the dominant mentality in product design, this research shows there are examples of such a tendency among global companies. ]