Example Of Business Plan On Is Globalization Positive, Negative, Or Somewhere In-Between

Published: 2021-06-21 23:41:50
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Category: Economics, Business, World, Development

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Globalization is a very misunderstood concept of progress and industrialization with two opposing sides pointing out its advantages and disadvantages. With poorer nations experiencing the effects of globalization, a number of the lesser developed nations believe that globalization means corruption and exploitation of the poor nation's resources and work force. Although there are negative views about it, there are still sectors of society that recognize the benefits of globalization in terms of a country's economic development and its interactions and trading relationships with other nations. Because it is a debatable subject, understanding the pros and cons of globalization will help come up with an answer regarding its importance and to be able to determine whether globalization is positive, negative, or both. By being well informed and open to the different benefits of globalization, any nation can see growth economically, culturally, and socially.
Globalization is the assimilation of technology, trade, and investments, with the involvement of capital and the labor force. It gives way for countries to participate in the competitive world. From inward connections and business transactions, globalization has changed the world into a global marketplace (Giddens). International brands have become locally available since the onset of globalization. Concerns regarding geographical location and distance are now outdated considering that employees can now collaborate and work with other nationals without having to leave their own country. Because of globalization, countries join "together economically, through education, society and politics, and viewing themselves not only through their national identity but also as a part of the world as a whole" (Ellis-Christensen). With the aid of the Internet, remotely located countries are now able to communicate easily with other, do business internationally, as well as receive information about other nations.
Globalization has also led to many employment opportunities. As companies see the benefits of setting up satellite offices in developing countries, this has generated thousands of jobs and additional income for the host country. This has also increased opportunities for international trade to prosper, especially the introduction of the concept of business processing outsourcing (BPO). With focus on high quality output but cheaper labor, companies outsource some services in order to produce certain products. In order to encourage inter-country investments, some engage in free trade with nominal import and export restrictions (Stephen& Lawson). Likewise, promotion of international trade entails development of advanced communication channels to make information accessible to potential clients and existing customers worldwide. Through the advent of the Internet, global transactions are possible any time, including meet ups with would-be clients. Thus, instead of spending thousands of dollars to pay for travel expenses, meetings are done through web conferences. In terms of product delivery, products are easily shipped to customers' location internationally because of the various modes of available transportation and supply chain and distribution processes (Baker & Lawson).
Many times, globalization is associated with a country's economic stability alone. However, Giddens (1999) claimed that globalization also pertains to what goes on in the country as well, as inward occurrences are positively affected by globalization. For instance, as inward migration increases so does opportunities for social and economic growth and the joining of various cultures, beliefs, values, and traditions. With the union of these forces, a new culture emerges.
Despite the many positive influences of globalization to a developing country, there are also perceived negative effects to the host country. For one, with the advent of advanced infrastructure also came the health risks and problems that globalization brings, as diseases can easily be spread through the different modes of transportation. As an example, the SARS virus in 2003 was believed to have originated from the country of Vietnam. Countries that had business relations with Vietnam suffered the fate of experiencing the disease, which spread within three months only in about 30 countries (Pang & Guindon). Smoking and alcoholism also contribute to reasons why non-supporters of globalization are growing in numbers. Highly developed countries ban smoking and alcohol abuse or have policies in place when it comes to alcohol and tobacco trading. Because of this, manufacturers target the underdeveloped countries where incidences of tobacco and alcohol abuse are high (Pang & Guindon).
Anti-globalization sectors also believe that the wealthier nations are the ones that benefit the most when new businesses open in smaller and poorer nations. They claim that the more affluent nations become richer while the host country where the richer nation set up their satellite offices become poorer or do not experience the rewards of an improving economy. Thus, this increases inequality and consumerism in the host country as uneven wealth distribution becomes even more apparent. In this light, the economic gap between the elite members of society and the underprivileged ones becomes even more pronounced. Because the wealthier nations build factories and business offices in the underdeveloped country, instances of environmental degradation occurs (Zachary).
In addition, because foreign businesses also make use of the host country's natural resources, the possibility of environmental degradation and depletion of natural resources to the point of extinction is a possibility. When this occurs, an imbalance in the environment could lead to incidences of natural calamities and climate change.
Considering the facts presented above, the benefits of globalization prevail over the negative sides of globalization. Through advances in technology and with the aid of the Internet, more businesses are poised to maintain their trading relationships with various countries regardless if the country is big or small, wealthy or poor. As communication methods improve and business owners get a firmer grasp on how to do business in the host country, then economic collaboration between and among countries will steadily increase. In turn, this will help generate more income and job opportunities for the host country.
Those who do not see the value of globalization must realize that their country will remain poor if they choose to limit their business transactions within their regions only instead of opening their opportunities and participate in the global market. If they keep resisting change and globalization, they will always remain in the dark and could even succumb to failed economic conditions.
How Could Globalization Be Reformed?
Globalization can be reformed by reviewing and improving the economic standing of smaller countries as well as the policies governing the well-developed countries when it comes to international trade. While richer countries' goal when investing in smaller countries is to recoup their investments and their losses, the success of globalization also involves ensuring that the rights of the poorer nation are protected, including the poor nations' resources. Doing so will somehow address the issues on unequal wealth distribution. This means instead of the richer nations becoming the only sector in the equation that gains from the business relationship, even the smaller nations' experience the changes in their economic standing. This also involves ensuring that products and services are globally at par with the rest of the world. In return, the local government must always look after the interests of its people and not only whether the country is gaining or not from the business relationship.
References
Baker, S. A., & Lawson, R.A. (2002). The benefits of globalization: An economic perspective. Journal of Lutheran Ethics. Retrieved from http://www.elca.org/What-We-Believe/Social-Issues/Journal-of-Lutheran-Ethics/Issues/August-2002/The-Benefits-of-Globalization-An-Economic-Perspective.aspx
Ellis-Christensen, T. (2013). What is globalization. WiseGeek. Retrieved from http://www.wisegeek.org/what-is-globalization.htm
Giddens, A. (1999). Globalisation. BBC Online Network. Retrieved from http://news.bbc.co.uk/hi/english/static/events/reith_99/week1/week1.htm
Pang, T., & Guindon, G. E. (2004). Globalization and risks to health. EMBO Reports. Retrieved from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1299207/
Zachary, G. P. (1999). The world gets in touch with its inner American. Mother Jones. Retrieved from http://www.motherjones.com/politics/1999/01/world-gets-touch-its-inner-american

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