Research Paper On Globalization

Globalization
Globalization is omnipresent and one of the most significant changes of human history. It is essential to understand globalization as an economic phenomenon arbitrated by cutting-edge communication and information technologies. The transformative potential of globalization reaches invasively into all dimensions of contemporary social life. The factors that play a significant role in the concept of globalization are concentration, acceleration and expansion of worldwide relations. Although globalization earns a significant place among the major concepts of human development, debates related to globalization are one of the major reasons that there is no other topic today, which is more difficult to get one’s head around. While the

It has led to technical revolution due to which, the entire world centers around information technology. New social interactions and social changes have emerged as a result of globalization. English has become the dominant language all over the world with the advances in internet and cultural interactions among people. The globalization of media has resulted in the transmission of news irrespective of geographical boundaries. Global media, such as the CNN and BBC have dominated the airwaves by transmitting news all across the world. Various international corporations, such as McDonalds, Reebok, Coca-Cola, Pizza Hut and many others have entered the global markets, expanding their customer base. Globalization has also spread to the fields of arts, sports and music. Cricket and football have become global games played across the

While there was regional competition among firms in the previous decades, it has expanded to the international market. Only those companies, which have the potential of adopting necessary measures required to sustain the international competition are the only one that are able to survive. Globalization has enabled firms to recruit the best talent from all over the world. It has also led to the evolution of new forms of carrying out business, such as e-commerce and global marketing. However, one of the major challenges is cross-cultural communication. Other adverse effects of globalization include brain drain, issues related to legislation and taxes. Companies might also face crisis related to sales, production, investments and administration. Despite the negative effects, globalization has also enhanced creativity in the business environment by sharing knowledge from every corner of the