Essay Title Why do Hirst, Thompson and Bromley argue that 'globalization does not exist'
Added on 2020-01-15
8 Pages2915 Words157 Views
SUPPORTINGGLOBALISATION
INTRODUCTIONAccording to Hirst, Thompson and Bromley (2015) globalisation is integration of marketin the global economy. Further, it is also considered as an international integration which arisefrom the interchange of different views of world, products, ideas and also different other aspectsof the culture (Definitions of Globalization, 2006). With this, their also exist certain advancementin the transportation, telecommunication infrastructure and also the rise of internet and mobilephones. Globalisation also leading into increase in different culture and political activities withinthe nation. This topic is taken into consideration because it is the most happening topic in currentscenario's and reader should understand its views relating to its positive and negative impact.However, Pangarkar and Wu (2012) argued that with globalisation, rich is getting more rich andpoor is becoming more poor because those who are at the top position are able to expand theiroperations. Lower retailers facing a stiff time in the competitive environment because largeorganisations are covering major market share and small businessmen are generally working tosurvive in their life.From the view point of Benería, Berik and Floro (2015) globalisation is a process whichis the latest concept and consist of four major elements. These are trade and transactions, capitaland investment movement, migration and movement of individuals and dissemination ofknowledge. Apart from it, different elements like global warming, cross-boundary water, airpollution are also linked with the topic which has been discussed (Benería, Berik and Floro,2015). Economic globalisation is considered as increasing economic interdependence for thenational economies around the world which usually help in increasing the cross boardermovement of the different goods and services (Globalisation, 2016). International trade is thepart of the same and in this, various business organisations are able to exchange their goods,services and capital from one boarder to the other. It generally improves the Gross DomesticProduct (GDP) of the nation. Waltman, Tijssen and van Eck (2011) also supported that economicglobalisation consists of production, market, competition, technology, etc. With the reduction inthe trade barriers, business organisations are able to trade their goods and services in effectivemanner which will give them competitive advantage in the country in which they are working.On the contrary side, Chaminade and De Fuentes (2012) stated that cultural globalisationis treated as a transmission of the idea where people are able to extend and intensify their socialrelations. This has been enhanced effectively with the help of social media, internet, etc
(Chaminade and De Fuentes, 2012). For instance, if this culture is taken into consideration, thenbusiness organisations like McDonald's, KFC, Starbucks, etc. are doing really well. Theseorganisations have their operations throughout the globe because they consider this factor inquite effective manner. Apart from it, culture in sense of music, cuisine, fashion, trend, etc. hasalso changed significantly and many countries are opting modern culture as compared to thetradition ones.Lane (2013) stated that political globalisation has also influenced the countries operationsand it is also necessary for the political parties of countries to consider the same in order to makeeffective plans and policies so that business organisations can have effective operations.Moreover, major institutions like European Union (EU), WTO usually facilitates theseinternational agreements. However, Sugano (2015) argued that out of them all, economicglobalisation plays a most important role because the trade globally gives countries and audiencean opportunity to expose towards the new market and products. Industrialization, advancement intechnology, improved form of transportation is the major part of it and with this, business as wellas countries relation are improving immensely. It is also found that the international trade ismuch costlier as compared to that of the domestic trade (Sugano, 2015). The main reason behindit is the cross boarder as it imposes some additional costs in the form of tariffs and taxes.Moreover, Davidson and et.al (2012) said that another major difference between theinternational and domestic trade is the factor of production like capital, labour, resources, fund ascompared to different countries. Thus, many business organisations of countries tap other nationswith an aim to extend their market share, production, revenue and turnover. Moreover, it is alsofound that globalization has different benefits but at the same time they possess some majordrawbacks as well. If benefits of this process are taken into consideration, then some of them arequite effective which enhances country's growth and development. De Vos (2012) stated that itreduces the international poorness and also makes great contribution in the implementation ofadvanced technology. Further, it also increases the profitability of business organisations andemphasise on building the strong trade relations with different countries whole around the world.Moreover, various policies and laws of different countries are taken into consideration by theindustries so that they can do their operations in cost effective manner. Building effectiverelationship with organisations of other countries will definitely excel the business relations andalso of the country. Globalization also assist in bringing different governments together so that
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