Globalization Essay

915 words - 4 pages

Globalization for Businesses

Sahar Aziz

Critical Thinking and Decision Making in Business - 320

Monday, May 18th, 2015
Professor Jim Scholes

Globalization for Businesses

Globalization has been taking its course in the world for many, many years. It can be dated back to the times of Genghis Khan and the Silk Road. Trading has been occurring for hundreds of years, even though some may say that globalization didn’t exist until the last few decades. Whichever way or view one decides to look at it, globalization is inevitable, however, the positivity and growth that come with the ...view middle of the document...

“With globalization increasing the competition in today’s world, they are able to offer quicker responses with the latest technology, as well as a quicker production period. In turn, this locks in more consumers. (3, Premise) Businesses are also able to reach out to untapped markets, try new and different investment opportunities and increase the diversity in their markets, interests and possessions (“Bookboon Blog, 2011”). In order for businesses to truly become a successful global company, they must “view the world as a single market, develops an overall strategy for its’ various operations around the world and applies the lessons of each country to ensure its global success.”

Wealth Equality
(4, Premise) The implementation of globalization provides equality in wealth throughout the world. (4, Conclusion) Since 1980, the number of the poor has decreased significantly; almost two hundred million. Most of this decline was due to the fact that both China and India began to trade around the world. Every single country, especially countries like China, Mexico, Vietnam and Uganda, has had positive impacts financially. Poverty has drastically dropped since countries began trading worldwide. (4, Premise) For example, once Vietnam decided to trade around the world, their poverty rate dropped from 75% to 37% in about ten years. The poorest of citizens living in Vietnam have claimed that they are doing much better financially now, than they were six years ago ("Globalization: Does Globalization Promote Economic Equality?", n.d.). (5, Premise) Globalization offers the people living in other economies and cultures to learn to become integrated with communication and technology. (5, Conclusion) People in countries like Kenya, have been offered job positions in coastal regions “which generates wealth from foreign tourists” due to a lack of opportunities in their hometowns. With all of the new and latest technology offered, innovation and job creation can grow just with the...

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