MEDRANO-1-BA2-COMMWORLD, Assignment 1
MEDRANO-1-BA2-COMMWORLD, Assignment 1
MEDRANO-1-BA2-COMMWORLD, Assignment 1
Medrano
Section: I-BA2
BSBA-HRM
Watch the video clip defining this concept and use the information presented to answer
the questions below. 5 pts. each question.
Globalization is not a new phenomenon. The world economy has become increasingly
interdependent/ interconnected for a long time. However, in recent decades, the process
of globalization has accelerated; this is due to a variety of factors, but important ones
include improved trade, increased labour, capital mobility, and improved technology.
Effect: Increased its risen from 13 billion dollars per year in 1970 to more than 1.80
trillion today.
Effect: They do not care about borders such problems cannot be solved by a single state
alone.
Effect: The term describes how western culture especially popular culture becomes
dominant and destroys cultural diversity in the global distribution of western music
news products and even the English language promotes.
Effect: People are increasingly returning to local and regional cultural customs,
globalization is a very complex development some countries benefit more others benefit
less newly industrialized countries like Taiwan and South Korea as well as the rapidly
developing India, Brazil, and China gained considerable advantage from their
integration into the world economy they can build up their factories with foreign direct
investment and infrastructure and sell their products internationally due to low wages
in these countries, these products are very competitive on the world market.
5. According to the video, who benefits from globalization? Explain your
answer.
Globalization is a very complex development some countries benefit more others benefit
less newly industrialized countries like Taiwan, and South Korea as well as the rapidly
developing India, Brazil and China gained considerable advantage from their integration
into the world economy they can build up their factories with foreign. Furthermore,
Globalization is both a threat and an opportunity for industrialized countries on the one
hand they can acquire new markets for their industrial goods on the other hand they are
facing the competition of new industrialized countries that can produce simple goods is
no longer profitable and very few products like textile, toys, or white goods are still
produced in industrialized countries. In addition, Globalization takes place at many
areas such as politics, culture, and the economy declining costs of transport and
communication and the global liberalization of markets have fueled this trend while
some countries benefit from globalization it is exacerbated problems of others thus
globalization present both new opportunities and new challenges.
1. International Recruiting
2. Incurring Tariffs and Export Fees
3. Payroll and Compliance Challenges
4. Loss of Cultural Identity
5. Foreign Worker Exploitation
6. Global Expansion Difficulties
More simply, globalization refers to an open flow of information, technology, and goods
among countries and consumers. This openness occurs through various relationships,
from business, geopolitics, and technology to travel, culture, and media. Because the
world is already so connected, most people do not notice globalization at work every
single day. But the world is getting smaller, and companies need to understand what
this means for the future of doing business. Companies that do not embrace
globalization risk losing a competitive advantage, which allows other businesses to take
over new opportunities in the global marketplace.
8. When you think about your life, how have you benefited from
globalization? Explain.