Globalization

1) Globalization is a process of interaction and integration among the people, companies,

and governments of different nations, a process driven by international trade and
investment and aided by information technology. ... Likewise, for centuries, people and
corporations have invested in enterprises in other countries.

2) It describes the way countries and people of the world interact and integrate. Many
things have become globalized as people come into contact. Economicglobalization is
how countries are coming together as one big global economy, making international
trade easier.

International Business:

International business is defined as commercial transactions that occur across country

borders. When a company sells products in the US, Japan and throughout Europe, this is an
example ofinternational business.

Dimensions of Globalization:
globalization has four main dimensions: economic, political, cultural, ecological, with
ideological aspects of each category.

Economic
Economic globalization is the intensification and stretching of economic interrelations around the
globe. It encompasses such things as the emergence of a new global economic order, the
internationalization of trade and finance, the changing power of transnational corporations, and the
enhanced role of international economic institutions.

Political
Political globalization is the intensification and expansion of political interrelations around the globe.
Aspects of political globalization include the modern-nation state system and its changing place in
today’s world, the role of global governance, and the direction of our global political systems.

Cultural
Cultural globalization is the intensification and expansion of cultural flows across the globe.
Culture is a very broad concept and has many facets, but in the discussion on globalization, Steger
means it to refer to “the symbolic construction, articulation, and dissemination of meaning.” Topics
under this heading include discussion about the development of a global culture, or lack thereof, the
role of the media in shaping our identities and desires, and the globalization of languages.

Ecological
Topics of ecological globalization include population growth, access to food, worldwide reduction in
biodiversity, the gap between rich and poor as well as between the global North and global South,
human-induced climate change, and global environmental degradation.
Impact of Globalization:

Globalization in general terms is like interchange, exchange or interdependence in

terms of World views, products, ideas and other aspects of culture.

Martin Albrow and Elizabeth King define globalization as "all those processes by which
the peoples of the world are incorporated into a single world society”.

Imagine instead of globalization we are localized in that case everything seems in limit
to me for example same religion/ culture people, same type of food, jobs available
according to the environment or favorable climate. set income…

NOW

Imagine going globalizing looking at the bigger picture as if sky has no limit, different
religion/culture, jobs opportunities, Salary options, different types of food, moving to
different locations, business…

Globalization gives you a wide choice to pick from so it’s completely depends upon how
openly and easily can you connect yourself on international networks and accordingly it
will affect you.

Trade Barriers:
1) Generally, governments impose barriers to protect domestic industry or to “punish”
a trading partner. ...Trade barriers, such as taxes on food imports or subsidies for
farmers in developed economies, lead to overproduction and dumping on world markets,
thus lowering prices and hurting poor-country farmers.

2) The trade barriers are imposed by the government by placing rules and
regulations, tariffs, import quotas and embargos. The four different types of trade
barriers are Tariffs, Non-Tariffs, Import Quotas and Voluntary Export Restraints
Globalisation affects every aspect of an individual's life including, religion, food, transport,
language, music and clothing. It affects each individual differently however, depending on a
diverse number of factors such as location, education and income.While globalisation is said to
unite the world, it has often been criticised for widening the gap between the rich and poor. It
also has been said to favour the wealthy and educated, particularly those citizens belonging to
the wealthier countries such as the United States.

People from poorer nations are said to also be exposed to more pollution. This pollution is
suggested to have resulted from globalisation which places importance on international travel
and trade, as well as industry. …

Business management is the act of getting people together to accomplish desired goals
and objectives. Globalization in short, points to the whole effort towards making the
world global community as a one village. Globalization on business management is
interconnection of international markets and managing businesses in a global industry.
This includes foreign investments whereby a company expands its business and invest in
foreign countries.

Globalization makes business management easier and efficient for the company.

Based on my research, Globalization simplifies business management in the world. This

is due to the advancement in technology, transport, communication, education, and
regulations of trade that makes trade fair to all parties. This attracts more people to
engage in international business and international trade. Managers within the global
face a lot of challenges due to high competition in the industry, good decisions must be
made in order to satisfy and maintain their customers and attract more customers for
their products. Companies enjoy economies of scale in the business due to reduction of
cost in the management.
This report explores a range of interlinking questions, starting with what is globalization,
what are the effects of globalization in developing countries and developed countries,
this is in terms of positive and negative effects. Globalization is something that affects
all of us, no matter what our profession or interest is.