Globalisation and its Impact on Society

The report discusses how globalisation affects societies by promoting cross-cultural understanding, economic growth through international trade, and social media's influence on the spread of global culture. It also highlights the importance of technology in reducing trade barriers and facilitating global communication.

CONTEMPORARY
SOCIETY IN A
GLOBAL WORLD

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK ..............................................................................................................................................1
P1. Impact of migrants and remittance on host country.........................................................1
P2. How technology facilitate international business.............................................................2
P3. Impact of changes in political power over global trade...................................................2
P4. Member of global society................................................................................................3
P5. How social media influence the spread of global culture................................................3
CONCLUSION................................................................................................................................4

INTRODUCTION
Contemporary society refers to a process of creating and enhancing interconnection
between human beings by integrating technology, innovation and globalisation ( Herbert, 2017).
This project discuss about the positive as well as negative impact of migrant, technology, change
in political power and social media over international businesses.
TASK
P1. Impact of migrants and remittance on host country
Migrants refers to the persons that move from their country of origin to different nation in
search of work or to improve living conditions (Chang, 2016). Migrants has an huge impact over
the growth of home country, as brain drain may reduce the skilled employees from country that
limits the development opportunity of country (Lewis and Peri, 2015). But on the other hand it
also have positive impact over the trade as migrants help in creating business networks and flow
of FDI in country (Lee and Gereffi, 2015). This support toward economical development of
country of origin (Arango and Baldwin-Edwards, 2014).
On the other hand remittance refers to the amount of money which migrants send to their
home country. It contribute toward the economical growth of country by continuing the flow of
fund from host to home country (Dustmann, Schönberg and Stuhler, 2016).
PROSEPECTIVE BIBLIOGRAPHY
Arango, J. and Baldwin-Edwards, M., 2014. Immigrants and the informal economy in Southern
Europe. Routledge.
Dustmann, C., Schönberg, U. and Stuhler, J., 2016. The impact of immigration: Why do studies
reach such different results?. Journal of Economic Perspectives. 30(4). pp.31-56.
Chang, G., 2016. Disposable domestics: Immigrant women workers in the global economy.
Haymarket Books.
Lewis, E. and Peri, G., 2015. Immigration and the Economy of Cities and Regions. In Handbook
of regional and urban economics (Vol. 5, pp. 625-685). Elsevier.
Herbert, D., 2017.Religion and civil society: Rethinking public religion in the contemporary
world. Routledge.
Lee, J. and Gereffi, G., 2015. Global value chains, rising power firms and economic and social
upgrading. Critical perspectives on international business. 11(3/4). pp.319-339.
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P2. How technology facilitate international business
Technology plays an essential role in performing business operations effectively by
lowering the trade barrier and globalization of product as well as market (Martin, 2017). Most
important way through which technology facilitates international business is through:
 Using electronic communication that make it easier for business to transfer and assess
information related to market, trend, products and business data much quickly and from
any place throughout the world (Kriegler, and et. al., 2014).
 Technological contribution in transportation like innovation of jet aircraft, super
freighters, containerization etc. has simplified the process of shipping goods at each
corner of world (Aïssa, Jebli and Youssef, 2014).
 Technology also support in simplifying the business operations by alternating the paper
work with digitalisation of work using computer that saves time (Mander, 2014).
PROSEPECTIVE BIBLIOGRAPHY
Martin, W. J., 2017. The global information society. Routledge.
Kriegler, E. and et. al., 2014. The role of technology for achieving climate policy objectives:
overview of the EMF 27 study on global technology and climate policy strategies.
Climatic change. 123(3-4). pp.353-367.
Aïssa, M. S. B., Jebli, M. B. and Youssef, S. B., 2014. Output, renewable energy consumption
and trade in Africa. Energy Policy. 66. pp.11-18.
Mander, J. ed., 2014. The case against the global economy: and for a turn towards localization.
Routledge.
P3. Impact of changes in political power over global trade
Government power and policies has an huge impact over global trade as they intervene in
business operations for protecting nation's economy as well as social, cultural and economic
structure (Bowe, Martin and Manns, 2014). With the changes in political power several rules and
regulations related to tariffs, import-export financing, currency control and administrative
policies get affected or changed. This affect the way a company operates its business globally as
it sometimes imposes trade restrictions or increases tax rate which affect its revenue (Drainville,
2017). Apart from this changes in political power sometimes bring positive impact over the
business operations by reducing the barrier to international trade that provide several growth
opportunities to companies (Gilpin, 2018).
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PROSEPECTIVE BIBLIOGRAPHY
Bowe, H., Martin, K. and Manns, H., 2014. Communication across cultures: Mutual
understanding in a global world. Cambridge University Press.
Drainville, A. C., 2017. The fetishism of global civil society: global governance, transnational
urbanism and sustainable capitalism in the world economy. In Transnationalism from
below (pp. 35-63). Routledge.
Gilpin, R., 2018. The challenge of global capitalism: The world economy in the 21st century.
Princeton University Press.
P4. Member of global society
Global society is a group of world citizens which are divided and segmented through
culture, language or ethnicity (Sassen, 2016). But globalisation make it possible to share
knowledge & information to each part of world that contribute toward creating collaborative
culture where people works together despite of their culture and language differences (Sassen,
2018). I also consider myself as a part of global society as I communicate with people belongs to
different culture and work with them to learn new things.
PROSEPECTIVE BIBLIOGRAPHY
Sassen, S., 2016. Global networks, linked cities. Routledge.
Sassen, S., 2018. Cities in a world economy. Sage Publications.
P5. How social media influence the spread of global culture
Social media refers to a group of websites that enable user to communicate and share
their view to people belong to different culture, religion or region (Vermeulen, 2015). Social
media plays an essential role in globalisation of businesses by connecting people from different
places over a single network (6 ways social media is changing the world, 2018). It help people to
communicate about their views, culture, value which help in promoting and informing about
different culture that are exists at different locations around globe (Gereffi and Lee, 2016).
PROSEPECTIVE BIBLIOGRAPHY
Gereffi, G. and Lee, J., 2016. Economic and social upgrading in global value chains and
industrial clusters: Why governance matters. Journal of Business Ethics. 133(1). pp.25-
38.
Vermeulen, W. J., 2015. Self‐governance for sustainable global supply chains: can it deliver the
impacts needed?. Business Strategy and the Environment. 24(2). pp.73-85.
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Online
6 ways social media is changing the world. 2018. [Online] Available
through<https://www.weforum.org/agenda/2016/04/6-ways-social-media-is-changing-
the-world/>./
CONCLUSION
From above given report it can be concluded that globalisation plays an essential role
toward the social and economical growth of countries. Apart from this technology is consider as
major factor that promote internationalisation by reducing trade barriers.
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