Globalization and Its Further Analysis

Running head: GLOBALIZATION AND ITS FURTHER ANALYSIS
GLOBALIZATION AND ITS FURTHER ANALYSIS
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Running head: GLOBALIZATION AND ITS FURTHER ANALYSIS
Essay: Globalization under Fire: how should leaders respond?
As argued in the book, World is flat by Thomas Friedman, globalization is not a new
phenomenon, he elaborates three stages of globalization, one where the countries initiated the
discovery of new land, refereeing to the age of discovery (Friedman 2005). Then, in the age
of industrialization, the companies initiated globalization, where extracting of man labour
was at peak, last but not the least, globalization imitated by the individuals because of the
increasing de-distanciation aided by technology and science. In the essay Globalization
under fire: how should leaders respond? by Pankaj Ghemawat, explains the phenomenon of
globalization premised on the political turmoil, where there is constant rise of anger without
over reaction (Ghemawatm2005). It also addresses the need to develop a cosmopolitan
attitude by business firms so that they can foster changes, which will benefit the humankind
at large. This essay reflects, how the perception of globalization is misconstrued from the
actual reality (Papastephanou 2015). He states various facts, where the percentage is
exaggerated and are informed with the notions of post-truth. He tries to understand the laws
of globalization in relation to the future, thus he suggests three strategies: adaptation,
aggregation and arbitrage. He also argues the extent in which globalization is affecting the
world trade relation amongst political crises of Brexit to changes of regulation of NAFTA
renegotiations. The value chain management is not limited to local unit again the
international business firms cannot run if they do not take account of the local, as the author
has suggest, it needs to adapt and also aggregate to newer market forces, along with
necessary arbitrage plan (Gereffi and Kaplinsky 2001). Owing to these kind of political and
economic turmoil, the authors concludes that globalization is not an choice but an imperative
and recommends that there is need for growing a cosmopolitan behaviour because it is very
essential to recognize the need in the local level.

Running head: GLOBALIZATION AND ITS FURTHER ANALYSIS
It is very important to understand that globalization, and the extent of impact it has on
the corporate culture and its percolating to the effect to the people living in community. As
suggested by Thomas Friedman, Globalization 3.0 has cause individuals to effectively
interact Trans borders, thus not only there is an economic flow but also the cultural flow. This
entire phenomenon has been summarised by Marshal McLuhan when he coined the word
“Global village” (McLuhan et al 1992). He wanted to acknowledge to the fact that, with the
advancement of technological changes in transportation and communication, other entity of
the world has shrunk because each person can access to any kind of information pleased (Wei
and Peters 2018.). It is in this juncture that author is trying to decipher the role of the human
agency embedded in the structural changes. Both the terms globalization and
internationalization are used synonymously, however, it is important to the understand the
difference between because internationalization refers to the geographical spread of economic
activities, which is not new phenomenon (Sturgeon 2013). The history of the world we live
in, witnessing, internationalization, where globalization a relatively new phenomenon
because, unlike internationalization, globalization refers to the functional; integration
between internationally dispersed activities (Dicken 1998:5). Globalization is the productive
sphere that accentuates functional integrating between internationally dispersed activities,
where the value chain perspective forms an effective means of conceptualizing the forms that
this integration takes. With the help of the value chain management, one can focus on the
whole range of activities from designing, to marketing, unlike only the production activities.
In accordance to the value-chain management, the problems of governance can be
highlighted, which will enable to arrest the global inequality that is dispersed across globe.
The sentiments regarding globalization and the global value chains has exceeded the real
picture of it (Pankaj). Global value chain is related to the rapid development phenomenon
known as “international fragmentation of production”, this refers to the where there is global