The rise of globalization has created interdependent markets that highlight the pros and cons of leveraging foreign exchange. Many proponents of global business argue that mutual benefits derive from the global specialization of products and services. The general stance is that the benefits of globalization outweigh the economic and social costs by achieving higher efficiency and by providing GDP growth in underdeveloped regions. (Boundless, n.d) Globalization offers many Benefits and advantages to the people and businesses. Just to mention are few, these include: • Greater employment opportunities for people.
Michael Pedreira Period 2 Globalization Pros of globalization Due to globalization, people around the world are becoming more connected. There is better money flow and information is more available to the people around the world. Other than quicker communication, high quality products are becoming available to different parts of the world. Overall, experts believe that globalization is making the world a better place. Globalization has affected countries in numerous ways; Socially, economically, and politically.
Globalization is a worldwide process of integration. It’s driven by international trade and investment, and is sped up by technology. There are many different things it affects in different ways, such as economics, culture, politics, etc. Economically, globalization means unimpeded and quicker movement of people, acquisition of capital, labor, products, and currency among nations. Politically, it means better coordination among governments and international and non-government organizations.
Globalization is an affair full of complexity (Dunning, 2014).Generally, it allures to the procedure of enhanced unification and collaboration of various economies in the world. These economies become inter- related. Globalization incorporates colossal free trade, considerable labor movement, escalates flow of capital, development of multinational firms, enhanced amalgamation related to worldwide trade cycle and better communication as well as ameliorated transport structure that effectually minimize bars between nations. Strengths of Economic Globalization (World in general) Facility of free trade: Free Trade refers to the means for nations to exchange distinct products, services and resources. It could be stated that nations can develop specialization in manufacturing certain products for which they can enjoy a competitive advantage.
Globalization is a multidimensional and complex process that describes the development of an integrated economy. More simply Simply put and more accurately ' 'This worldwide integration allows people to communicate, travel and invest internationally, and helps companies market theirs produces productsservices widely, acquire capital, human workforce and material resources more efficiently, share advanced technology, and enjoy economies of scale. ' ' (Gary J., Robert Shuey and Ray Kiely,2001:37) The pace of globalization has increased and there are some important reasons behind for that. Firstly, the development of communications? and technology takes drives globalization to another level.
Globalizing the trade to become international wide gives more opportunity for the country to fulfill the demand of the country. Not just able to cover the demands quickly, but also providing a cheaper way to provide demands that can not be fulfilled from local commodities. The stability of demand accomplishment in production creates a good situation for production to keep up and
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.
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.
Direct export is when a company wants to have a better control over distribution Under direct exporting, an exporter must deal with a large number of foreign contacts, possibly one or more for each country the company plans to enter. Although a direct exporting operation requires a larger degree of expertise, this method of market entry does provide the company with a greater degree of control over its distribution channels than would indirect exporting (Akkaya, 2002: 23). There are several advantages of direct exporting , one of theme is the greater potential profit also that help to know well customers and provide safety and security to customers then got a rapid feedback and also have a high level of flexibility to understand and develop marketing efforts . There are several methods in direct exporting, such as sales
This perception is therefore linked to the internet and international markets linked to global institutions for example the IMF and WTO. Globalisation has a huge impact on the economies today worldwide. This can be in the developing or developed countries. An important factor that must be discussed here is economic liberalisation. To define economic liberalisation it is important to note that it is a process for achieving unobstructed economic activities.